Tax guidance and resources
Looking for advice on lowering your federal or state taxes? You’ve come to the right place. Plus, get news and advice related to tax brackets, property taxes, estate taxes and more.
Taxes Basics
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Latest Articles
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Disclaiming surprise inheritance
Can you be liable for paying taxes on a loan for a policy you’re unaware of?
3 min read Sep 02, 2022 -
Reporting requirements for expatriate American
The threat of an IRS inquiry doesn’t mean ignore foreign bank account reporting requirements.
2 min read Nov 24, 2020 -
Paying tax on elusive inheritance
You shouldn’t pay taxes on inheritance money you never received, explains Bankrate’s tax adviser.
3 min read Feb 08, 2021 -
London home sale may be taxed in U.S.
If a foreigner immigrates to the U.S. and sells his London home, he runs into a tax trap.
2 min read Feb 08, 2022 -
Tax exemptions
What is considered a tax exemption? Read stories about tax exemptions here.
Sep 23, 2021 -
Last-minute tips for snail-mail filers
If you’re sending your tax return the old-fashioned way, follow these tips before mailing it.
4 min read Jan 24, 2021 -
Working abroad and investing in a Roth IRA
A U.S. citizen in Thailand wonders what is impeding his eligibility to contribute to a Roth IRA.
2 min read Mar 11, 2022 -
Use refund to pay down debt
Three out of 10 Americans intend to use their tax refund to pay down debt. Bankrate’s tools can help.
1 min read Mar 11, 2022 -
Go back five years to recover paid taxes
Changes in the tax law allow taxpayers to carry back losses up to five years if they elect to do so.
2 min read Jan 12, 2021 -
How Americans will spend their tax refund
Bankrate’s exclusive poll reveals that 84 percent of Americans plan to spend their tax refund wisely.
4 min read Mar 11, 2022 -
7 housing tax laws you don’t want to miss
If you’re a homeowner or thinking of becoming one, these tax laws could save you money.
6 min read Oct 27, 2022 -
5 tax breaks for the recession
If you’ve lost or reduced your income in these hard times, there could be a tax silver lining.
4 min read Jun 25, 2020 -
Tax losses on the sale of a rental home
A vacation home that was converted to a rental will be sold at a $100,000 loss. How is it taxed?
2 min read Apr 06, 2022 -
Getting the most from itemized deductions
If you’re going to the trouble of taking tax deductions, make sure you don’t miss any.
4 min read Nov 17, 2020 -
More twists on the homebuyer tax credit
A couple with a home inside an LLC wants to buy it and claim the first-time homebuyer tax credit.
2 min read Feb 02, 2021 -
Reporting a foreign bank account
The IRS penalties are severe if you fail to properly report a foreign bank account.
2 min read Oct 22, 2019 -
Who pays the taxes on an UGMA?
One way to transfer assets to grandchildren is with an UGMA. But the annual income is taxable.
2 min read May 18, 2020 -
Avoiding taxes on a foreclosed rental
To avoid paying capital gains tax on a foreclosed rental, the homeowner has to consider bankruptcy.
3 min read Jan 12, 2021 -
2 big homeownership expenses to deduct
These home-related costs get special treatment at tax time, thanks to modifications in the law.
4 min read Dec 20, 2020 -
Down market could produce tax surprises
Even when mutual funds have dropped in value, shareholders could pay capital gains taxes.
6 min read Apr 11, 2022
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