What Are Unrealized Capital Gains And How Does It Affect You?
Long-term capital gains are taxed at a 0%, 15%, or 20% rate, depending on your income, but some wealthy Americans manage to avoid this tax liability.
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Why It's Important To Factor Social Security Into Your Estate Planning
The Social Security Administration has a specific way of handling benefits for anyone who needs help managing their money, like in the event of death.
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Strategies To Minimize Your Tax Liability In Retirement, According To A Tax Coach
For retirees, many of whom live on a fixed income, paying less taxes can only help. Tax strategist Barbara Schreihans explained ways they can do so.
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Who Will Lower America's Taxes More, Donald Trump Or Kamala Harris?
The Tax Cuts and Jobs Act of 2017 is central to the proposed tax policies of the two U.S. presidential candidates. The TCJA is set to expire at the end of 2025.
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The Hidden Truth Behind Estate Sale Tax Implications
An EstateSales.NET 2023 survey found that the most common reason for an estate liquidation is the loss of a loved one. Downsizing or moving came in second.
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Are Remote Workers Taxed Differently?
A lot more people in the U.S. are working remotely these days, with the Pew Research Center estimating that 22 million people are doing so on a full-time basis.
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Do Amish Pay Taxes?
You may have heard that Amish community members aren't required to pay taxes. This, however, isn't exactly true, though they are exempt from certain taxes.
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What Actually Happens When You Get Audited By The IRS
Keep in mind that the majority of audits are resolved through the mail. In any audit, it's more that the IRS needs information to resolve discrepancies.
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Do Tax Refunds Ever Expire?
Per the IRS, for tax year 2020, there's over $1 billion of refund money yet to be claimed. What's more, taxpayers need to claim it before the window closes.
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Will Biden's Tax Hike Affect Your Retirement?
While President Joe Biden's budget proposal for fiscal year 2025 targets high-income earners, could it still affect taxpayers making far less? We take a look.
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The Dark Sides Of TurboTax You'll Wish You Knew About Sooner
With a nearly 75% market share, TurboTax and tax preparation seem to go hand in hand. Yet, to make informed decisions, consumers should know the bigger picture.
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Can You Deduct Losses From Your Roth IRA?
The Tax Cuts and Jobs Act severely restricted, or eliminated altogether, many previous personal itemized deductions. Here's what it meant for Roth IRA losses.
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Is TurboTax Premium Actually Worth The Price?
TurboTax offers three different products for do-it-yourself filers. Here, we review the Premium tier for investors, the self-employed, and small business owner.
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What Do Most Americans Do With Their Tax Refunds?
The average tax refund in 2023 was $3,167, and IRS data so far indicates a bump in 2024. As for how to spend those refunds, many Americans have the same idea.
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Do Churches Ever Have To Pay Taxes?
When Congress passed the Tariff Act of 1894, churches were given official tax exemption from federal taxes. This said, there are a few exceptions to this rule.
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Is Cryptocurrency Taxed?
Cryptocurrency is a (digital) currency, but it's also an investment, and because of that, it could be subject to tax. Specifically, a capital gains tax.
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Here's How Long You Should Hold Onto Your Credit Card Statements
If you haven't yet gone paperless, then you likely have credit card statements around the home. Can you toss them? Before you do, be sure you won't need them.
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Are Home Equity Loans Tax-Deductible?
If you take out a home equity loan, can you deduct the interest? There are two factors that will determine whether or not you can, as well as if you'll want to.
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Do You Pay Taxes On Inheritance?
With regard to inheritance, there are four types of tax a person should learn about: estate taxes, inheritance taxes, capital gains taxes, and income taxes.
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Myths About Taxes You Need To Stop Believing
Filing your taxes can be a hectic experience, but ignoring the plethora of pervasive myths about doing so makes the process easier.
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How To Appeal Your Property Taxes
Appealing your property taxes isn't as complicated as you might think. What's more, the success rate of those who go into an appeal prepared is encouraging.
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10 Little-Known Ways To Get A Bigger Tax Refund
Tax season can be stressful, but by leveraging these strategies to reduce your tax burden, you may find a chunk of extra money coming your way.
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The Big Difference Between Tax Evasion And Tax Avoidance
While they sound similar and even share the same goal (to pay less taxes), tax avoidance and tax evasion are very different in how they go about filing taxes.
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The Sneaky Risk That Comes With Appealing Your Property Taxes
If you think your property tax assessment is unfairly high, it's within your rights to appeal. This said, while it's rare, an appeal could backfire. Here's how.
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EVs That Are Eligible For A Federal Tax Credit In 2024
Not all electric vehicle models qualify for U.S. tax credits or rebates, but choosing the right one can knock a nice chunk off the sticker price.
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How Many Times Can You Ask For An Extension On Your Taxes?
While taxpayers likely know of the six-month extension offered by the IRS via Form 4868, is it possible to get even more time? Here's what you should know.
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Does The President Have To Pay Taxes While In Office?
The president's salary hasn't changed in over 20 years. That said, given that the president does receive a paycheck, here's the scoop on their tax obligation.
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