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A tax credit is an incentive that lets a taxpayer reduce the total amount of tax owed. Find out which tax credits are available to you.
Net income provides a more accurate account of the financial status. Here’s why.
Learn how these differ and how they both can impact your budget.
Certain windfalls are considered capital gains. Here’s how to determine what you’ll owe.
A person’s gross income is used to determine how much they have to pay toward federal and state income taxes.
At tax time, parenthood can be a rewarding experience when claiming the child tax credit.
If you give away lots of money during your life or after, taxes may be triggered.
Exemptions are like deductions. You can claim $4,050 each for yourself and family members.
The Work Opportunity Tax Credit helps veterans and certain other workers land jobs.
The garage construction doesn’t qualify for the energy tax credit, but these things do.
Want to put your vacation home to work? Rent it. Just make sure you follow the IRS rules.
You can’t avoid tax on the rental property sale, but other tax benefits may even things out.
For lower-income filers, money put away for retirement could cut today’s tax bill.
The Earned Income Tax Credit can get you more money than you paid all year.
You may be able to claim exemptions for your stepchildren from Mexico. Here’s how.