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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How taxes affect investing gains, losses
Consider capital gains, losses and dividends while investing in stocks and bonds.
3 min read Mar 11, 2022 -
Co-owned property with an ex can be taxing
Even if you’re on good terms after the breakup, get your financial deals in writing.
2 min read Jan 24, 2021 -
States with the steepest gasoline taxes
The national average for taxes is 49.5 cents per gallon but in some states it’s much higher.
1 min read Apr 11, 2022 -
Deducting taxes on unimproved land
You can elect to capitalize some expenses if you can’t benefit from a tax deduction.
2 min read Jan 24, 2021 -
Converting nondeductible IRA to Roth
All gains in your IRA will be taxed at ordinary income tax rates, no matter what their nature.
2 min read Mar 11, 2022 -
Pay off mortgage with IRA funds?
Although you’re more than 59½ years old, you still have to pay income tax on the withdrawal.
1 min read Sep 02, 2021 -
Uncle Sam helps out with children’s day care
Expenses paid with a flexible spending account can’t be claimed for the child care credit.
2 min read Sep 28, 2021 -
Claiming 25-year-old son as dependent
You should amend your tax return, as he earned too much money to be claimed as a qualifying relative.
1 min read Jan 24, 2021 -
What happens to investment interest expenses?
The investment interest expense of the decedent spouse is not eligible for carry-over.
1 min read Jan 24, 2021 -
Dipping into your IRA, a taxing downer
Tap your IRA as a first-time homebuyer without a penalty, but you will pay income taxes.
2 min read Feb 21, 2022 -
How to account for business loss
If you use the cash-basis method of accounting, you can’t incur a loss for an uncollected account.
1 min read Oct 21, 2021 -
10 craziest tax deductions for 2011
Tax time lends itself to the occasional crazy deduction.
1 min read Dec 21, 2020 -
Job hunting could help cut your taxes
You may be pleasantly surprised to learn that your job search can help cut your tax bill.
1 min read Feb 08, 2022 -
3 tax traps same-sex couples can avoid
Federal tax code does not recognize same-sex marriages which makes tax issues tricky.
1 min read Oct 23, 2019 -
Deducting travel and entertainment expenses
You can treat tickets as either a gift or entertainment, whichever is to your advantage.
2 min read Oct 21, 2021 -
10 craziest tax deductions for 2011
Taxpayers cook up wacky ways to shave their taxes. CPAs share the funniest ones.
5 min read Mar 11, 2022 -
Paying tax on foreign real estate
You can’t double dip, but you also don’t want to be double taxed on your Canadian rental unit.
2 min read Dec 16, 2021 -
Tax breaks for home energy upgrades
Looking to cut down your electric bill may also help cut down on your tax bill.
1 min read Oct 23, 2019 -
Claiming a loss in a 529 plan
You can only take a loss when all the funds in that 529 account have been distributed.
2 min read Jun 04, 2021 -
Move for newlywed tax-deductible
You can deduct your moving expenses if you meet certain criteria.
1 min read Dec 08, 2020
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- States with no income tax
- Tips to prepare for filing season
- Tax credit vs. deduction
- Deduct child care expenses
- Use the sales tax deduction
- Claim medical expenses
- Tax deduction for charitable giving
- How to e-file taxes
- How long to get your tax return
- How to invest tax return
- Open IRA to save on taxes
- When to pay estimated taxes
- How bonuses are taxed
- Long-term capital gains tax
- Tips for paying estimated taxes
- When are taxes due?
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- The best tax software