Taxes
12 articles
TurboTax, TaxAct, and H&R Block have a similar set of core features and capabilities. That can make it challenging to differentiate among them at a glance. But there are differences. Before choosing one, learn how they stack up — and what’s new for the 2020 tax year.
Small companies tend not to offer 401(k) plans, given the administrative costs and headaches associated with them. Fortunately, there’s a type of employer retirement account specifically for small businesses: the Savings Incentive Match Plan for Employees (SIMPLE IRA). Learn more about it here.
A cash tax refund anticipation loan, also known as a RAL, is a way for a tax filer to get their refund immediately. Millions of tax filers take advantage of these quickie tax loans every tax season. But there are several reasons why this kind of loan is not a wise financial decision.
Most IRS audits are not random. They’re triggered by red flags that indicate a potentially fault return, high odds of undisclosed income, or both. Learn what these triggers are and how to avoid them to prevent unwanted attention from good ol’ Uncle Sam.
Savvy taxpayers can slash their tax bill using a range of tax-sheltered accounts, but these can seem confusing and often sound alike. Which combination of retirement accounts, education accounts, and health savings accounts can help you save on your tax bill? Read on to learn more.
Anyone who’s filed a tax return knows the U.S. tax system is complex and difficult to understand. Many say corporations, wealthy individuals, and special interest groups use loopholes to avoid paying their fair share. One idea for fixing the system is called FairTax. But would it really work?
A generation ago, most U.S. taxpayers either outsourced tax prep to trained human preparers or manually completed their own taxes using paper forms provided by the IRS. Human experts and the IRS itself were also far and away the most reliable sources of tax prep information available to most filers. The former charged for their guidance.
If you plan on giving large sums of money to friends and family — either in your lifetime or after you die — you owe it to yourself and them to understand the tax implications. Here’s what you need to know about how estate and inheritance taxes work — and how to keep them as low as you can.
Thanks to the Tax Cuts and Jobs Act of 2017, most investment-related expenses are no longer deductible. But in certain circumstances, you may still be able to get a tax break. Learn which investment-related expenses you can still deduct and how to qualify for them.
When you sell an investment, you pay tax only on the profit you make, rather than the full proceeds from the sale. A few different factors influence how much you’ll pay. Here’s what you need to know about tax rules for capital gains and losses.
Every year, millions of Americans receive billions of dollars in tax refunds. Many blow it on dinners out, new clothes, and presents for themselves. But before you get carried away dreaming up inventive ways to spend your refund, do something to boost your future instead.
The U.S. could experience some rather drastic tax changes in the near future. For instance, if the so-called Buffett Rule passes, capital gains taxes would increase from 15% to 30% for those with incomes above $250,000 or those with a $1 million in hard assets. Another looming tax hike are the Bush tax cuts that
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