Tax guidance and resources

Latest Articles

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  What is adjusted gross income (AGI) and why does it matter?

  Your adjusted gross income, or AGI, is your gross income minus a handful of items. Here’s how it works and why it matters.

  4 min read Jun 23, 2025
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  Tax fraud: What it is and what you should know to avoid scams

  Tax fraud can come with hefty penalties and fines, even jail time. Tax evasion is a type of fraud. But tax avoidance is legal.

  3 min read Jun 23, 2025
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  Can a Roth IRA be used for college?

  Here’s how to use a Roth IRA to pay for your child’s college tuition.

  6 min read Jun 23, 2025
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  How to qualify for student loan interest deduction

  Learn about tax deductions and credits for student loans and higher education expenses

  7 min read Jun 23, 2025
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  Electric vehicle (EV) tax breaks may hit a dead end under Trump’s ‘Big Beautiful Bill’

  Under the current law, taxpayers can claim the electric vehicle tax credit if they meet specific income and purchase requirements. 

  4 min read Jun 21, 2025
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  Tax evasion is illegal, but tax avoidance? That’s smart financial planning — here’s what you should know

  Al Capone may be the face of tax evasion and all that can go wrong if you purposefully don’t pay your taxes. But tax avoidance is legal, and even encouraged by financial experts.

  4 min read Jun 20, 2025
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  New charitable giving tax deduction worth up to $2,000 could soon be on the way for millions of filers

  Millions of taxpayers may soon benefit from a new tax deduction worth up to $2,000 for qualified charitable contributions.

  3 min read Jun 19, 2025
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  Trump’s tax plan: Senate and House versions of ‘big, beautiful’ bill headed for a clash

  The Senate released its draft version of the “big, beautiful” tax bill, which differs in major ways from the House bill. Here’s what you need to know.

  7 min read Jun 18, 2025
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  New ‘bonus’ tax deduction up to $6,000 could be on the way for those age 65 or older

  Both the Senate and House versions of the massive tax bill include a hefty new tax break for people aged 65 or older: A new deduction worth up to $6,000. But there are income limits.

  3 min read Jun 18, 2025
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  Senate’s ‘big beautiful’ bill trims popular tax breaks — 4 ways it could impact your taxes  

  U.S. lawmakers appear primed for a tax-bill showdown with the Senate’s proposed version of the “big, beautiful” act challenging the House version of the bill on several key tax measures.

  4 min read Jun 18, 2025
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  Gross income: Definition, why it matters and how to calculate it

  Gross income is your total pay, before deductions or taxes are taken out. It plays a big role in some key personal finance calculations.

  4 min read Jun 17, 2025
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  Value-added tax (VAT): What it is and how it works

  Value-added tax (VAT) is not unlike sales tax, but there are key differences. Many countries impose a VAT instead of sales tax.

  5 min read Jun 17, 2025
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  Taxes on mutual funds: How they work and 4 strategies to minimize what you owe

  Mutual fund taxes can be complicated. Here’s what you need to know.

  5 min read Jun 16, 2025
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  LLCs and taxes: Here’s how to file taxes for an LLC

  If your business is an LLC, you’ll need to pick the tax-filing status that suits your business best.

  5 min read Jun 16, 2025
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  What is an LLC, and how does it work?

  An LLC can reduce the legal liability of its members, among other benefits, but there are some disadvantages to consider, too.

  4 min read Jun 16, 2025
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  Sales tax deduction: How it works, who is eligible and how to claim it

  Here’s how the sales tax deduction works, what purchases are eligible and how to claim it.

  5 min read Jun 13, 2025
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  Gift tax: The exclusion limit for 2025, how it works and who has to pay

  The gift tax prevents large tax-free transfers of wealth. But few taxpayers owe this tax, thanks to the annual and lifetime exemptions.

  5 min read Jun 13, 2025
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  5 tax breaks for dads to help celebrate Father’s Day

  There are many tax breaks that may apply for fathers, from claiming dependents, saving for your child’s education or looking to lower your taxable income.

  4 min read Jun 13, 2025
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  Hurricane-related tax relief: 4 tips to help you weather the financial aftermath

  Hurricanes can cause immense destruction, but these tax benefits can help alleviate some of the financial costs.

  5 min read Jun 10, 2025
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  Marginal vs. effective tax rate: How they differ and how to calculate each rate

  Knowing the difference between your marginal and effective tax rate can help you manage your money better.

  4 min read Jun 10, 2025