Tax Basics
What is net income?
Net income provides a more accurate account of the financial status. Here’s why.
Long-term capital gains tax basics
Certain windfalls are considered capital gains. Here’s how to determine what you’ll owe.
What is gross income?
A person’s gross income is used to determine how much they have to pay toward federal and state income taxes.
Latest Income Tax Articles
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Are my credit card rewards taxable?
The IRS generally doesn’t consider credit card rewards to be taxable income, but there are some exceptions.
3 min read Apr 26, 2021
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Biden’s tax plan: Watch for these expanded breaks soon and possible hikes later
Biden may want to hold off on raising taxes as the economy recovers — for now.
7 min read Feb 15, 2021
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9 states with no income tax
Looking for ways to lower your tax bill? Consider moving to one of these states.
2 min read Jan 09, 2021
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5 ways your taxes could change if Biden is elected — and how taxpayers should prepare
The former vice president’s approach would be dramatically different from President Donald Trump’s.
7 min read Oct 01, 2020
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Still haven’t filed? Here’s how to get an income tax extension
Applying for an extension is easy. Just don’t put off paying your tax bill.
2 min read Nov 10, 2017
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Carson: End mortgage interest tax deduction
Presidential candidate Ben Carson needs to do away with deductions if his flat-tax plan is to work.
2 min read Nov 12, 2015
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What do the 1 percent pay in taxes?
While the rich earn high incomes, they also cough up a fair amount in taxes.
1 min read Apr 20, 2015