News

In general, married couples who file jointly save more money on taxes than those who file separate returns. However, there are situations when filing separately is a better option.

Traditional or Roth IRA? Here are the differences in these retirement savings accounts.

Help speed processing and avoid hassles this tax season with these tips.

Want to get your tax return sooner and protect yourself from tax identity theft? File your tax return early.

How much can you contribute to a 401(k) plan for 2022? How much is the standard deduction? How much do you have to earn this year before you can stop paying Social Security on your salary? Here are some answers to these and other tax-related questions for 2022.

One of your new year’s resolutions may be to take better care of your health. But can you deduct your out-of-pocket medical costs on your tax return?

Many people have become gig workers to earn extra money through online platforms. Find out more about the tax implications of these jobs.

College is expensive and you may have taken student loans to pay for it. Can you deduct the interest you pay on these loans? Here are the rules.

You may be busy this holiday season. But don’t forget to review your portfolio to see if you have any stock you want to sell by Dec. 31 to save on taxes.

Before you know it, we’ll be ringing in 2022. You may still have time to reduce your 2021 federal tax liability by taking these steps.

If you’re going to receive a personal injury or discrimination settlement or award, you want the best tax result possible. Here are the basic rules of when amounts are tax free or taxable.

Buried in the infrastructure law that was just enacted is a change in the way cryptocurrency transactions are reported to the IRS.

If you have a flexible spending account, you may want to schedule a trip to the dentist, buy new eyeglasses or have elective medical procedures performed. Here’s why.

Feeling generous this year? Here are the basic rules for charitable contributions and gifts to loved ones.

If you’re fortunate to have an employer offering a 401(k) plan, you may wonder if you should participate. Here are the basic features of these plans.

Moving closer to family members and taking advantage of warmer weather are just two reasons why many people retire to another state. Don’t forget to consider state and local tax implications before you make a move.

In 2021, if you pay a household worker cash wages of $2,300 or more, you must withhold and pay Social Security and Medicare taxes. Learn about what this amount will be for 2022, as well as the tax obligations for household workers.

A special federal income tax break is available if you rent your vacation home for less than 15 days during the year. Here are the rules.

Are you an artist or collector interested in donating artwork to charity? Here are the basic rules to claim a tax deduction for your generosity.

If you’re an employee, you may be able to get a Health Savings Account with your employer. You can also open one of these tax-saving accounts through some banks and other financial institutions. Here are the basic rules.

If you’re selling your principal residence, some or all of the profit may be tax free. It depends on your home sale profit and your income. Here are the basic rules.

There have been proposals in Washington to reduce the estate and gift tax exemption amount, as well as make other changes to the estate tax laws. Making tax-free gifts by year end can reduce the size of your taxable estate and may be one way to recognize and address this potential threat.

The rules for deducting personal casualty losses on a tax return have changed through 2025. However, you may still be able to claim a deduction if an event qualifies as a federally declared disaster (and several have this summer).

Does your employer provide you with group term life insurance? Depending on the amount of coverage, it may add to your tax bill. Here are the rules.

If your child receives a scholarship, is the amount taxable income? Here are the rules.