You may feel you’re the head of your household if you’re married, single, divorced, a parent or child-free. However, only certain people can file a tax return with the favorable “head of household” status. Here are the rules.
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Thinking about lending money to a family member or friend? There may be tax implications you should understand.
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If you invest in the stock market, you’ve probably owned some losing shares. Here are the rules for claiming losses on your tax return for depreciated or worthless stock.
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If you’re commuting to work and your employer offers tax-free transportation fringe benefits, you need to read this.
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To itemize deductions or not to itemize deductions? Here’s how the decision is made.
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The best way to grow your nest egg is to save for retirement today. There’s still time if you’re eligible and you didn’t contribute the maximum amount allowed in 2024 to a traditional IRA or SEP.
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The Child Tax Credit is a critical resource for millions of families. But under current law, many taxpayers will see the credit cut in half in 2026 if Congress doesn’t act this year.
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Is retirement on the horizon? Plan ahead for the tangle of tax implications you may face.
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How much of your 2025 earnings are taxed for Social Security? How has the standard deduction increased in 2025? Here are some answers to these and other tax questions you may have.
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You may spend years building up your traditional IRA, but there is a time when you must start taking withdrawals. Here are answers to frequently asked questions about required minimum distributions.
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There are some tax-savvy ways to build education savings and pay for college. Here’s how to help maximize education funds and minimize financial stress.
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Did you know that interest from U.S. savings bonds is taxed at the federal level but not at the state or local levels? Here’s a look at the tax implications of investing in savings bonds.
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Adopting a child? You know there can be many steep expenses. Fortunately, there may be valuable tax breaks for parents. Here are the relevant amounts for 2024 and 2025.
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How does your federal tax bill affect Medicare insurance premiums? How much will monthly Medicare premiums be in 2025? Here are the answers to those and other questions.
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Inflation has slowed down considerably in the last couple of years. What does this mean for your federal tax bill? Here are the inflation-adjusted amounts for several provisions in 2025, compared to 2024.
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Are you thinking about buying a new exterior door or rooftop solar panels? How about an electric vehicle? You may want to act soon because President-Elect Donald Trump has pledged to terminate a law providing valuable tax credits for these and other energy-saving purchases.
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Before you know it, 2024 will be here. But until then, there may still be time to reduce your 2023 federal tax liability by taking these steps.
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If you need cash, you may want to tap your traditional IRA. But if you’re not yet 59½, you may have to pay a penalty tax if you do. Here are 11 exceptions to the penalty.
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Does your employer offer a 401(k) plan, but you haven’t started participating? Here are the basic features of these plans to illustrate why you should strongly consider it.
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