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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Do 401(k) assets count in Roth conversion?
In a Roth conversion, only the values in IRA accounts are considered in determining taxable income.
2 min read Mar 11, 2022 -
Tax deadline in October
Just now filing your taxes? Bankrate will help you get it together.
1 min read Mar 11, 2022 -
Why we procrastinate filing taxes
Many people wait until October to deal with their taxes, and they may have good reason for doing so.
4 min read Mar 11, 2022 -
Capital gains tax on sale of gold or silver
When you sell personal property, you have to pay tax on the gain, but there’s no deduction for a loss.
2 min read Apr 11, 2022 -
Tax-deductible training to teach dance
Once you meet the requirements for the job, you can deduct further employer-required training.
2 min read Mar 03, 2022 -
Obama tax bill — winners, losers
The president has offered a tax and deficit reduction plan. Who comes out on top under the proposal?
4 min read Jan 24, 2021 -
Offset capital gains from flipped property
As long as flipping property is not a business, you can offset the gain with stock market losses.
2 min read Dec 16, 2021 -
Reporting royalty income for textbook
Your husband may be a full-time professor, but as an author he is considered self-employed.
2 min read Jan 24, 2021 -
Getting around foreign withholding tax
If the tax withheld is excessive, a foreigner can appeal to the IRS by filing Form 8288-B.
2 min read Oct 22, 2019 -
Getting tax credit for education expenses
Use the American opportunity credit to help pay college costs, including tools required for school.
3 min read Oct 22, 2019 -
Getting out of forgiven debt tax
File an Offer in Compromise, saying you doubt you’re liable for the tax from the forgiven debt.
2 min read Feb 03, 2021 -
Claim home energy tax credits for 2010
If you made home energy-efficiency improvements, you could qualify for a tax credit.
3 min read Oct 23, 2019 -
Executor of will owes money to the IRS
Your personal tax debts do not interfere with your position as executor of your mom’s estate.
2 min read Jan 24, 2021 -
How the debt deal might affect your taxes
The deal imposes new deadlines for lawmakers to find savings via spending cuts and tax revenues.
2 min read Feb 08, 2022 -
Claim insolvency, avoid tax on short sale
One maneuver could help you avoid tax on forgiven debt if you don’t own assets with value.
2 min read Jan 24, 2021 -
How to pay taxes on a Roth IRA conversion
After losing a job, a tax bill for your IRA conversion is the last thing you need.
3 min read Jan 24, 2021 -
Debt debacle a matter of semantics?
Cut through the political ruckus to see what’s proposed, what it means and who supports it.
3 min read Feb 05, 2021 -
Picking the perfect retirement tax haven
When choosing a retirement spot, consider whether the state is tax-friendly for you.
4 min read Sep 02, 2021 -
Ordinary loss: extraordinary tax deduction
If inherited property loses value, your tax strategy depends on how the IRS will categorize your loss.
3 min read Apr 06, 2022 -
Taxes on gifts held in father’s homeland?
For U.S. citizens, overseas assets present special tax challenges that require expert advice.
3 min read Feb 05, 2021
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