Tax Basics

Tax Basics Chapter 1: Filling out your W-4 Chapter 2: Filing your return Chapter 3: Deductions, the first step to cutting your tax bill Chapter 4: Tax credits, the better way to cut your tax bill Chapter 5: Your changing tax life Chapter 6: Taking care of tax details

While filing and paying taxes are among the unpleasant certainties of life, the process doesn't have to be one of your worst, or most costly, nightmares.

In fact, there actually are some aspects of taxation that aren't necessarily bad. Take, for example, your entry into the world. In addition to delighting your parents, you provided them with an immediate and welcome tax break. When you have children, they will bless you as well with, among other things, some tax relief.

There are several other instances in your tax lifetime where the tax code can be a help instead of a hindrance. But you've got to know exactly what the laws are and how to make them work for you. That's where Bankrate comes in.

Bankrate's step-by-step guide can help you negotiate the tax processes of your life, whatever stage you may be in: starting your first part-time job, attending college, becoming a full-time employee, tying the knot, buying your first house, establishing a business, getting up for your first child's 3 a.m. feeding, recuperating from a serious illness or enjoying retirement activities.

As you encounter each of these tax situations, the breaks as well as the frustrations, let Tax Basics help. You can use the links in each section to pick and choose your topics, either going in order or jumping ahead, but we suggest tax novices start with filing a W-4. This form determines how much in taxes comes out of our paychecks, and this payroll withholding is usually our first contact with the Internal Revenue Service.