Taxes

When you receive assets from your parents that come from their estate, this is considered a taxable event. It may seem like there are no taxes due on the purchases you receive if your parents were exempt from income tax, but this is not the case. If your parents' estate is valued over the exclusion

Bonuses are taxed as income, and the IRS will work hard to identify the amount you received. There are several tax deductions that you can claim in order to reduce your tax liabilities. Since bonuses are taxed as income, they must be included in gross income before any allowable deductions and

Tax rates for individuals vary across the nation. The Tax Foundation has a whole section dedicated to state taxes which provides a detailed look into the different tax rates and deductions available in each state. Each state has its regulations regarding taxation and each taxpaying citizen should be

People get stressed when tax season approaches as everyone is required to file their taxes correctly or face significant financial consequences. This year however, parents get a reprieve as they can write off up to $8,000 through the childcare tax credit. The following points will provide insight

The Internal Revenue Service (IRS) is an agency that deals with tax collection, and administers the Internal Revenue Code enacted by congress. It is the responsibility of law-abiding citizens to pay taxes as authorized by the government. Below are the following things you need to know. Are Ten

One of the most important things you can do to improve your overall quality of living is to sit down and determine how much disposable income you have available to you on a regular basis. The first challenge is an inherent one and that comes from misconceptions on what the term really means.  It

Federal income taxes seem ever-changing and shrouded in a veil of vague rules and complicated math. Tax season offers relief for some, as they anticipate extra funds for the year. But for others it is a time of stress as they wonder how much they owe the federal government. But what if the veil