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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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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Why It Pays To File Your Taxes Early
Filing your taxes early rather than at the last minute can prove a winning strategy when it comes to getting your finances in order for tax season and the year.
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What Exactly Is A Tax ID Number?
When it comes to tax ID numbers, this actually refers to a group of identification numbers used by the IRS. From SSNs to ITINs, here's a closer look at each.
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The Most Important Tax Breaks You Need To Know
Tax time can be stressful, but these tips can help you cut down on what you owe based on common factors that apply to many people.
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Which State Has The Highest Tax Burden?
Three tax types comprise a state's tax burden: property taxes, personal income taxes, and sales/excise taxes. Four total states have a double-digit tax burden.
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Which State Has The Lowest Tax Burden?
Nine U.S. states don't levy a tax on earned income. However, tax burden is more than just income; it's all the ways a person is taxed at the state/local level.
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How Getting Divorced Affects Your Tax Returns
While divorce will obviously change a person's tax filing status, there are other tax implications to think about now too, like assets, credits, and deductions.
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The Simple Way To Tell Which Federal Tax Bracket You're In
To figure out your tax bracket, you need to know your taxable income; then check it against the seven income brackets: 10%, 12%, 22%, 24%, 32%, 35%, and 37%.
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Can You Deduct Gambling Losses On Your Taxes?
From casinos to sports betting to iGaming, a lot more people are gambling these days, but, likely, many may not know the tax rules on winnings and losses.
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How To Know When You Should Itemize Your Taxes
Based on IRS data, only about 10% of taxpayers itemize their tax returns; however, this number will likely increase once the 2017 tax law expires to end 2025.
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How Long Should You Hold On To Your Tax Returns?
After successfully filing your return, does this mean you're done with your tax records for the year? No, you'll want to hang on to them. And for this long.
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This Is The Safest Way To Store Your Tax Returns
To keep tax returns and other important documents safe and organized, you could always go the classic route, or you could opt for a more technical solution.
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11 Most Effective Ways To Avoid Paying Taxes (Legally)
Minimizing your tax burden doesn't have to require illegal scheming or hiding assets from the government. These strategies will help.
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How Much Do You Pay In Taxes After Winning The Lottery?
Winning a lottery jackpot is a dream for most everyone; however, such a financial windfall brings with it a lot of questions, beginning with your tax liability.
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How Millionaires Avoid Paying Taxes Without Breaking The Law
The wealthiest among us have employed a suite of schemes to keep ever more of their money out of the hands of the federal government.
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2023 Federal Income Tax: 5 Reasons You'll Get A Bill Instead Of A Refund
If when preparing your tax return, your calculations begin to show you'll be owing the IRS instead of getting a refund, these are the most common reasons why.
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The Little-Known Tax Deduction That Could Increase Your Refund
Tax deductions, such as giving to charity, help to lower your taxable income, which, in turn, could help to reduce what you owe and even result in a refund.
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When Is The Last Day To File Your Personal Taxes For 2023?
Along with filing accurate taxes, it's important to file your return on time. For 2023 returns, that deadline may be different depending on where you live.
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5 Ways State Income Tax Might Catch You By Surprise In 2023
Don't be caught off guard on Tax Day. Here's why your tax liability (or tax refund) at the state level is what is; plus, what to watch for in future returns.
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