- What Is a W-9 Form?
When you start a new job, there’s a lot of paperwork to fill out, from direct deposit documents and benefits enrollments to your W-4 form. But when you’re a contractor or self-employed person, income taxes work a little differently. You will… read more…
- States With the Most Million-Dollar Earners
Hollywood and New York City probably come to mind when you think about the places with the most million-dollar earners. While location plays a part in how much money you earn, there are other factors that can help you reach millionaire status. Plenty of patient saving is most likely required. Many people seek professional advice from a… read more…
- TurboTax vs. TaxSlayer in 2025
With the new year starting, it’s just about the time to file your federal tax return. But there’s no need to get stressed out. Tax filing services are making it easier than ever to file your taxes. You will, of… read more…
- Federal Income Tax Brackets for Tax Years 2025 and 2026
The federal income tax rates remain unchanged for the 2022 and 2023 tax years are 10%, 12%, 22%, 24%, 32%, 35% and 37%. The income thresholds for each bracket, though, are adjusted slightly every year for inflation. Read on for… read more…
- States With the Highest Average Tax Refund
For most people, the only fun part of doing your taxes is getting your tax refund. Not everyone receives a refund. Technically speaking, tax refund is money you overpaid in taxes, meaning it was always your money and the government was just “borrowing” it for a while. Regardless, it always feels good to get a… read more…
- H&R Block vs. TurboTax
The start of a new year means it’s time to file your federal tax return. Many people stress about filing taxes, but there are a number of tax filing services to make the process easier. Two of the most well-known… read more…
- When the Trump Tax Plan Took Effect
In December 2017, President Trump signed the new tax plan into law. While most of the changes from the plan went into effect on Jan. 1, 2018, they did not affect taxpayers when they filed their federal income taxes in… read more…
- States Most Dependent on the Federal Government
Many taxpayers fret over where their hard-earned money goes once they’ve paid their share of taxes. This is true for residents of all states. But some states get a better deal when it comes to income taxes paid and benefits received. These states, and their economies, rely on the federal government for support to a… read more…
- States Where It’s Easiest to Get Help Filing Taxes
Many Americans try to reduce the stress of filing taxes by using online tax software or hiring an accountant. In some states getting this tax help is easier than others due to more affordable rates for accountants and better internet access. Below we look at the states where it’s easiest to get help during tax… read more…
- All About New York Sales Tax
The majority of U.S. states charge a sales tax on retail goods and services. New York state is no different. The state’s sales tax is relatively low but once you add on taxes from individual counties and cities, it can… read more…
- Should You Prepay Your Property Taxes Before January 1?
President Trump signed sweeping tax legislation in 2017 that capped property taxes and other state and local taxes (SALT) deductions at $10,000. This change went into effect in January 2018, which impacted 2018 taxes that were filed in April 2019, and… read more…
- What You Need to Know About California Sales Tax
Governments, at all levels, may charge sales tax for goods and services. Retailers collect sales tax on their goods at the point of sale and then send their collections to the government. Currently, 45 states charge sales tax with some counties… read more…
- America’s Most Charitable States – 2017 Edition
The United States is the second-most generous country in the world, according to 2016 data from the Charities Aid Foundation. But not all states in the United States are equally generous. Residents in some states give more to charity or volunteer more free time to causes near and dear to their hearts. Below we rank… read more…
- The Best Cities to Be Self-Employed
For many Americans, being your own boss is a long-held aspiration. But striking out on your own can be challenging and risky. There are many factors that can add potential roadblocks to people hoping to start their own businesses. Income tax rates, for example, come into play, as well as local costs of living. Below we… read more…
- All About the FICA Tax
If you earn a wage or a salary, you’re likely subject to Federal Insurance Contributions Act taxes. Not to be confused with the federal income tax, FICA taxes fund the Social Security and Medicare programs. Also known as payroll taxes,… read more…
- All About Tax-Loss Harvesting for Investors
Tax-loss harvesting is a way to use investment losses to lower your taxes on any capital gains you have in a year. If you’ve only invested in your future by contributing to a retirement account, tax-loss harvesting won’t likely help… read more…
- Is Canceled Debt Taxable?
No matter how hard you try to keep your debt under control, sometimes it piles up. Depending on your situation, you may be able to cancel some of your debt. That would probably lift a huge weight off your shoulders.… read more…
- Tax Deductions for the Self-Employed
Self-employment tax deductions can reduce how much independent workers pay in federal taxes by offsetting common business expenses. These deductions apply to costs such as health insurance premiums, retirement contributions, home office use and vehicle expenses. These write-offs apply only when they meet IRS criteria related to the taxpayer’s profession. Knowing what qualifies can affect… read more…
- What You Need to Know About the Capital Loss Tax Deduction
When it comes to investing, you can expect to experience both gains and losses. You might even incur a capital loss on purpose to get rid of an investment that’s making your portfolio look bad. And while selling an asset… read more…
- Where Millennials Pay the Highest Taxes – 2017 Edition
Many studies seem to suggest that millennials are in a financial pickle. For starters they earn less than their parents did when they were young adults. Plus, the average millennial has over $30,000 in student debt. For millennials who are struggling to boost their net worth and make the leap to homeownership, the last thing they… read more…
- All About IRS Form 1023
Businesses and individual consumers have something in common. Both groups have to file taxes. Some groups, however, are automatically tax-exempt, meaning that they’re not required to pay federal income taxes. Others must apply for tax-exempt status. If you want your… read more…
- Tax Breaks for Household Expenses in 2024 and 2025
Owning a home can be expensive. Paying for property taxes, repairs and homeowners insurance can significantly reduce what you can spend on luxury items and discretionary goods and services. Fortunately, homeowners may be able to recoup some of the money they’ve… read more…
- Tax Deductions: Is College Tuition Tax-Deductible?
Going to college seems to get more expensive every year. Tuition, fees, room and board for an out-of-state student attending a four-year public institution cost $28,240 for the 2022-2023 school year (on average). About a decade ago, an in-state student… read more…
- Who Can You Claim as a Tax Dependent?
The IRS knows that some taxpayers provide their children and relatives with financial support. That’s why the government offers folks with dependents the opportunity to reduce their tax burden. Being able to claim someone as a dependent may significantly lower… read more…
- Tax Deductions for Miscellaneous Expenses
Making sense of the U.S. tax code can be a daunting feat. That’s why many taxpayers turn to professionals when they need to file their tax returns. Regardless of whether you’re working with a tax accountant or completing your own… read more…