Tax guidance and resources

Latest Articles

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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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  Trump’s tax plan: ‘Big, beautiful’ bill could cost low-income Americans $1,600 a year, CBO says — here’s what to expect next

  The ‘big, beautiful’ tax bill would cost low-income Americans an estimated $1,600 a year on average, while high-income people would gain $12,000, the CBO says.

  6 min read Jun 12, 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
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  Self-employed? Your next estimated tax payment is due soon

  If you’re self-employed, don’t forget this important tax-payment deadline coming up fast in June.

  4 min read Jun 10, 2025
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  2024-2025 tax brackets and federal income tax rates

  Find your federal income tax bracket for 2024 and 2025 to understand what your tax rate is.

  9 min read Jun 07, 2025
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  Gross vs. net income: What you need to know to manage your finances

  Knowing the difference between gross and net income can help you better manage your financial situation.

  4 min read Jun 06, 2025
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  Taxpayer identification number (TIN): What it is and how to find it

  A TIN is a nine-digit number used to identify taxpayers. If you need to file taxes, you’ll need a TIN.

  2 min read Jun 06, 2025
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  What is FICA tax? Here’s what you need to know about payroll taxes

  FICA tax, also known as payroll tax, is what almost all workers have to pay for Social Security and Medicare.

  4 min read Jun 05, 2025
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  W-4 form: How to fill it out in 2025

  The W-4 form determines how much in taxes is withheld from your paychecks, which in turn helps you manage your tax refund, or tax bill.

  8 min read Jun 03, 2025
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  Short-term capital gains tax: What it is, what the rates are and how to reduce your taxes

  Paying attention to short-term capital gains tax rates can help you save money in the long run.

  4 min read Jun 02, 2025