Tax deductible donations are contributions of money or goods to a tax-exempt organization such as a charity. Tax deductible donations can reduce taxable income. To claim tax deductible donations on your taxes, you…
The Child Tax Credit is a refundable tax credit worth up to $2,000 per qualifying child and $500 per qualifying dependent. The credit begins to phase out when adjusted gross…
What is adjusted gross income? Adjusted gross income (AGI) is your gross income — which includes wages, dividends, alimony, capital gains, business income, retirement distributions and other income — minus certain payments you’ve…
The usual tax filing date of April 15 is extended this year: You have until Tuesday, April 18, 2017, to file your 2016 tax return with Uncle Sam. That means…
If you work as a freelancer, consultant or contractor — even as a side gig — your tax situation is more complex than that of someone who draws a regular…
In most states, tax season isn’t a one-and-done undertaking. You have to file both a federal return and a state return, unless you live in a state that doesn’t tax wages.…
Once you’ve filed your return to the IRS, you’re finished with your taxes for the year — at least that’s the hope. But if the IRS has questions about your…
For most taxpayers, filing a tax return with the IRS is just step one in the annual tax ritual. But folks who live or work in seven U.S. states can…
[Update: Check out the 2016 brackets now as you prepare for your next tax filing.] For 2015, there are seven federal income tax brackets: 10%, 15%, 25%, 28%, 33%, 35%…
