Taxes

The key difference between tax avoidance and tax evasion is legality. Tax avoidance is perfectly legal, while tax evasion isn't. Learn more here.

The U.S. Bureau of Labor Statistics says the average yearly salary of tax preparers is $51,080. But where do tax preparers make the most?

The new EV tax credit was part of the Inflation Reduction Act signed by President Joe Biden in 2022. It gives EV buyers up to $7,500 in tax credits.

Severance pay is a compensation package some employers provide employees upon termination of employment. Is severance taxable income?

You may owe taxes this year because you received unemployment benefits, a bonus, or you no longer qualify for certain tax credits and deductions.

Looking for the best credit cards to pay taxes with in 2023? Discover the top credit card picks that will help you pay smarter and save big!

Nothing is certain but death and taxes. If you're looking to avoid paying taxes on a savings account, you need to consider a tax-advantage account.

Taxes can feel intimidating, and might be even scarier if you're trying to file taxes without records. Here's how to file back taxes without records.

Someone who attempts to file taxes twice will receive an error code from the IRS, but no fine will be assessed. Here's what happens next.

Surprised by the amount of money you owe in federal and state taxes? You aren't alone. Here's what to do if you can't afford to pay your taxes.

If your tax return is accepted by the IRS, it means your return has passed initial inspection. But that doesn't mean your refund was approved yet.

You can pay your federal taxes with credit card, however, there are some drawbacks to doing so. Find out what these are and how to do it.

The IRS may impose penalties if you file your taxes a day late, but there are exceptions. The IRS also offers penalty waivers to some taxpayers.

Check out the tax day freebies available near you. From BOGO deals to other discounts, these tax day specials take the sting out of filing taxes.

The child tax credit and gambling loss deduction are only two of the many tax deductions and credits that can reduce your tax bill. What are some others?

The IRS can go as far back as it would like for unfiled tax returns. In some cases, a statute of limitations may be imposed. Learn more here.

Funeral expenses can't be deducted on an individual taxpayer's return. However, when certain criteria is met, you may be able to deduct funeral costs.

Sometimes people get audited during tax season, but no worries, it happens. But what happens if you don’t have receipts? Here's what we know.

Food prices have skyrocketed in the last few years. Plus some states also impose a grocery tax. What states tax groceries? Here's what we know.

Summer break is almost here and while you may have already signed the kids up for summer camp, you may be wondering if summer camp is tax deductible.

You may have noticed an "IRS TREAS 310" tax refund in your account. Here's what "IRS TREAS 310" means and why you received the deposit.

Both the Amish and Mennonite communities pay their taxes just like every U.S. citizen. Here's all the info to debunk any tax myths.

What is the 'Yankee Tax' bill South Carolina lawmakers have proposed? What does it mean for people planning to move to the Palmetto State?

If you won a court case, you may wonder if you have to pay taxes on the settlement. Let's see if settlements are exempt from taxes.

Tax season is here whether you like it or not. But don't fret. We've got 15 tax day memes even the most serious of people will find funny.

If you live in one of 17 states that doled out general welfare and disaster relief payments, do you have to pay income on your 2022 tax return?

The average tax refund for a $40,000 income may be less than you'd expect this year, thanks to several deductions ending. Here's what we know.

Is long-term disability taxable? Payments received for disability may be taxable. We'll break it down for you. It's important to know what's taxable.

With tax season rapidly approaching, there are questions about how personal loans factor into the process. Are personal loans tax deductible?

Because many tax laws and credits reverted back to 2019 guidelines or were eliminated, taxpayers are likely to receive smaller tax refunds in 2023.

What is a tax-deferred exchange? A 1031 exchange, as it's also called, enables real estate investors to defer taxes on a property sale.

What is SDI tax? The SDI tax, or State Disability Insurance tax, is what funds short-term disability programs. The SDI label is only used in California.

Are tips taxed? If you're a restaurant worker or someone who receives tips from customers, the IRS expects you to report that income.

If you donated to GoFundMe at any point during the last year, you may be able to claim it on taxes as a tax deduction. Find out more here.

Here's how to file sick pay taxes if you received sick leave pay in the past tax year. It's important that you include sick leave pay in your taxes.

Did you win big at the casino last year? Or maybe you lost your shirt? Your gambling winnings or losses should be reported on your tax return.

These are some of the best ways to use your tax refund this year. Having a plan for any refunded money will help you use it wisely.

Raising children can get expensive, especially if you have more than one kid running around the house. Here are a few tax tips for parents.