Tax Credits

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.

Tax Basics

Long-term capital gains tax basics

Certain windfalls are considered capital gains. Here’s how to determine what you’ll owe.

9 min read

The average tax refund

The average tax return for the 2020 tax year was $2,827, a 13.24 percent increase from the previous year.

2 min read

Cryptocurrency taxes: A guide

The IRS is stepping up enforcement on potential tax evasion by looking more closely at who’s exchanging cryptocurrencies.

6 min read

What is net income?

Net income provides a more accurate account of the financial status. Here’s why.

2 min read

Latest Tax Credit Articles

Will inherited IRA RMD impact my ability to get the Obamacare premium tax credit?

The distributions you must take from the inherited IRAs likely won’t impact your tax credit.

3 min read Oct 27, 2015
Rules for claiming parents as dependents if they just arrived in the US

You need to meet 5 requirements to claim your parents as dependents.

2 min read Oct 20, 2015
FSA saves money, cuts taxes

Find out how one of the most popular tax benefits for families, an FSA, can help you.

5 min read Sep 30, 2015
Tax breaks dead until Congress revives them

More than 50 tax provisions have expired. Will Congress renew them?

3 min read Aug 26, 2015
How do we report taxes on home confiscated via eminent domain?

You can report your home’s sale when the deed transfers, and postpone reporting the gain.

3 min read Aug 18, 2015
Does a new roof count toward a tax credit on a solar energy system?

Uncle Sam wants you to have an energy-efficient home and helps pay for certain costs.

2 min read Aug 04, 2015
Sales tax holiday in Massachusetts

Massachusetts’ sales-tax holiday can save shoppers a few dollars as long as they follow all the rules.

1 min read Aug 03, 2015
Sales tax holiday in Georgia

Georgia’s sales-tax holiday can save shoppers a few dollars as long as they follow all the rules.

1 min read Jul 22, 2015
Sales tax holiday in Ohio

Ohio’s sales-tax holiday can save shoppers a few dollars as long as they follow all the rules.

1 min read Jul 22, 2015
Sales tax holiday in Oklahoma

Oklahoma’s sales-tax holiday can save shoppers a few dollars as long as they follow all the rules.

1 min read Jul 22, 2015
Sales tax holiday Virginia

Virginia’s sales-tax holiday can save shoppers a few dollars as long as they follow all the rules.

1 min read Jul 22, 2015
Sales tax holiday in Connecticut

Connecticut’s sales-tax holiday can save shoppers a few dollars as long as they follow all the rules.

1 min read Jul 22, 2015
Sales tax holiday in Iowa

Iowa’s sales-tax holiday can save shoppers a few dollars as long as they follow all the rules.

1 min read Jul 22, 2015
Sales tax holiday in Arkansas

Arkansas’s sales-tax holiday can save shoppers a few dollars as long as they follow all the rules.

Jul 22, 2015
Sales tax holiday Texas

Texas’ sales-tax holiday can save shoppers a few dollars as long as they follow all the rules.

1 min read Jul 22, 2015
Sales tax holiday in Louisiana

Louisiana’s sales-tax holiday can save shoppers a few dollars as long as they follow all the rules.

1 min read Jul 22, 2015
Sales tax holiday in Florida

Florida’s sales-tax holiday can save shoppers a few dollars as long as they follow all the rules.

1 min read Jul 22, 2015
Sales tax holiday in New Mexico

New Mexico’s sales-tax holiday can save shoppers a few dollars as long as they follow all the rules.

1 min read Jul 22, 2015
Sales tax holiday in Maryland

Maryland’s sales-tax holiday can save shoppers a few dollars as long as they follow all the rules.

Jul 22, 2015
Sales tax holiday in Alabama

Alabama’s sales-tax holiday can save shoppers a few dollars as long as they follow all the rules.

1 min read Jul 22, 2015