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 Tax Deduction Articles
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How to write off repayment of a business loan
You can’t write off the loan, but you may be able to deduct interest paid.
3 min read Sep 02, 2021
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Open an IRA before the tax deadline to save on taxes
It’s not too late to get a tax deduction for your IRA contributions.
4 min read Apr 09, 2021
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Standard deduction amount for 2020-2021: How much is it?
The standard deduction is a set amount of money that’s not included as part of your taxable income when you file your taxes.
3 min read Dec 23, 2020
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How to write off bad debt
There are a few ways to offset losses from business debt or nonbusiness debt.
4 min read Jun 04, 2020
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Private mortgage insurance (PMI) federal income tax deduction returns
Homeowners who are paying PMI may be able to deduct this cost once again. Here’s how.
3 min read Mar 24, 2020
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Is an IRA certificate of deposit (CD) tax deductible?
Looking to score more tax deductions? IRA CDs might be for you.
3 min read Feb 12, 2018
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Americans think Washington will hurt their personal finances
Americans say they don’t expect to gain a lot from the GOP tax cut.
3 min read Dec 21, 2017
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This Giving Tuesday, many Americans plan to give back
Approximately one out of five charitable donations will be larger than last year’s.
2 min read Nov 28, 2017
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When can you take a tax deduction for moving expenses?
If your new job prompted a move, you might be able to write off the costs. Here’s how.
2 min read Apr 04, 2017
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How to cut your taxes using above-the-line deductions right on your Form 1040 or 1040a
Some taxpayers may claim up to a dozen deductions right on their Form 1040. Here’s how.
4 min read Mar 28, 2017