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 tax credit worth up to $2,000 per qualifying child and $500 per qualifying dependent. It is one of three kid-focused federal tax credits that are…
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 made during the year, such…
When you use your car for business, the IRS allows you to deduct that expense from your taxable income. You’ll itemize your deductions, using Form 2106 (Employee Business Expenses) if…
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…
If you haven’t filed a tax return in several years, the first advice you’d get from any tax expert is to file your past returns as soon as possible. While the government…
