| If you spent money last year on big-ticket items, you could get a federal tax break. The IRS starts tax filing season with Free File, an electronic filing program for taxpayers. Need help filing your tax return? Pick the tax pro who's perfect for your tax situation. Kids depend on you for a lot, but at tax time they could pay off when you claim them as dependents. Job search expenses will cut your tax bill, as long as you meet certain criteria. An FSA is a welcome benefit for many, but for some workers its tax savings are negligible. You can write off meals and entertainment costs, but only half of them, and only if you talk business. You can write off your gambling losses only to the extent of your winnings, so don't go crazy. Charitable donations will cut your tax bill, as long as you give to an IRS-sanctioned charity. Uncertainty surrounds taxes these days. Find out how to clarify your financial picture. Many CFOs point to one approach to solving the nation's fiscal woes, a survey finds. Is it really true nonresidents don't have to pay taxes on capital gains tax on stocks? A Duke University professor says everyone's sacrifices can fix the nation's economic woes. It's scary when the IRS comes knocking. Here's how to navigate a small-business audit. If an employee doesn't pay premiums for disability insurance, are benefits taxable? An economics professor addresses the major tax dilemmas affecting economic growth. More than 77 temporary tax breaks have expired and will likely be renewed. When? All is not equal when it comes to tax breaks. The rich benefit more. Summer's a great time to consider the tax breaks to take when filing your return next year. You may be able to file as head of household and list your mother as a dependent, but it depends. Property taxes are appealing only when that means you're fighting them. See how it's done. The word "tax" was much more dreadful in Ancient Egypt than it is now. That number you earn before taxes and deductions is not the final one you'll find in your paycheck. When you look at your paycheck, you'll find the money you've earned reduced by taxes. In the U.S., high-income earners are taxed at a higher rate than low-income earners. Similar to a store credit, this credit gives you a direct cut on the amount of taxes you owe. Did you know that not all of your income is subject to income taxes? The IRS requires additional forms for certain types of income, deductions or credits. As your income climbs above certain levels, you will be subjected to higher taxes. The Internal Revenue Service uses a number to identify individuals for tax purposes. You must use the mortgage balance as the value of the property upon liquidating the company. Bring extra cash if you dine in one of these cities that charge a meals tax on top of sales taxes. If you earn too much money, rental loss claims against your income may be in jeopardy. If you use a loss to offset a Roth IRA conversion, it'll be difficult to pay taxes on future profits. Check out our interactive map to see how much federal and state gas taxes cost you at the pump. If you're left some stock and have to sell it at a loss, you could come out ahead at tax time. Two of life's certainties -- death and taxes -- intersect with this federal estate tax. AMT was designed to make sure wealthy taxpayers are paying their fair share of taxes. When filing taxes, you need to declare your status, such as single, married or widowed. A portion of your earned wages is deducted from your paycheck and set aside for taxes. You'll need to pay taxes on the profit you make from selling investments or real estate. The IRS may choose to take a closer look at your tax return or other related transactions. You are allowed to reduce the amount of taxes you pay by subtracting some of your income. Do you own real estate? A car? Boat or recreational vehicle? You'll have to pay taxes on those. Heads up -- the IRS will be able to better track gains and losses with the new Form 8949. No new taxes are planned, but you may want to take advantage of loopholes before they close. | |