Some Donations You Make to GoFundMe Might Qualify as a Tax Deduction
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.
Taxes
Market Realist has the latest news and updates on taxes including income tax, property tax, and estate tax, and how to file.
How to File Sick Pay Taxes When Tax Season Rolls Around
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.
How to Prove Gambling Losses on Taxes — Top Tips
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.
Getting a Tax Refund This Year? Best Ways to Use It
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.
Child Tax Credits Have Changed in 2023 — Here's What to Expect
For the 2022 tax year, those enhanced child tax credits are returning to the levels they were in 2019 before the COVID-19 pandemic in 2020.
You May Be Able to Deduct Your Property Taxes on This Year’s Tax Return
If you own personal property or real estate in the U.S., there’s a good chance you pay taxes on it each year. So, are property taxes deductible?
Check Out These 8 Tax Tips for Parents That Can Save You Money
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.
Want to Know How Much You'll Get Back on Taxes? Here's How to Calculate
Many factors are used to determine how much you'll get back on taxes, including your income, filing status, and how many dependents you're claiming.
Do Dependent Minors Pay Taxes? Yes, in Some Cases
Regardless of how old your dependant child is or what they do to earn money, they may have to file a tax return if their earnings are above certain thresholds.
Here's When the IRS Might Consider Your Tax Refund as Income
Tax refunds are only considered income in certain state tax refund circumstances. Find out more about when your tax refund might be considered income.
Don’t Want to Pay to File Your Taxes? You May Be Able to File Online for Free
Filing your taxes can sometimes be costly. Fortunately, there are ways you can file your taxes online for free. Here are some of your options.
12 Million Americans Get Another Tax Refund — Who Qualifies?
The IRS issued 12 million tax refund payments after corrections to 2020 federal tax returns. See if you qualify for an additional tax refund.
Beware: These 15 States Have the Highest Income Tax
Most states levy personal income tax, but the tax is higher in certain states. We have all the info on the 15 states with the highest income tax.
Tax Refunds Can Be Great but There Are a Few Downsides You Should Know About
Tax refunds can be good for W-2 employees, but for business owners, that isn't always the case. What are the downsides of receiving a tax refund?
Here’s When the 2023 Tax Season Starts — And Why Your Refund Might Be Smaller
The first day you can file your taxes is Jan. 3, 2023. But, this isn't when the IRS will begin accepting returns. So, when should you file taxes?
Donald Trump's Tax Returns Made Public: What We Know So Far
Former President Donald Trump's tax returns from 2015-2020 are now public after resistance and a legal battle.
Lionel Messi Was Once Found Guilty of Tax Evasion — Details on His Sentencing
Professional soccer player Lionel Messi was found guilty of tax evasion in 2016. Learn the outcome of the case and whether he served prison time.
South Carolina Taxpayers May Be Getting a Bonus Tax Rebate
Some South Carolina residents will have a little extra money to spend this holiday season in the form of bonus tax rebates. Here's why.
Your Girlfriend Might Be a Dependent for Tax Purposes — See If She Qualifies
If you want to claim your girlfriend as a dependent on taxes, she must meet four factors from the IRS. What are the benefits of claiming a dependent?
President Biden Threatens a Windfall Tax on Oil Companies — Here's How It Works
President Biden has urged Congress to approve a windfall profits tax on oil companies that reported record profits recently. Would a windfall tax help bring down gas prices?
A Boyfriend Can Be a Dependent for Tax Purposes — Must Meet These 4 Factors
There are ways to claim dependents for certain people in your life, including your boyfriend. The IRS has four factor that must be met. We have all the details.
2 States Are Considering a Millionaire Tax, Already Have It on Upcoming Ballets
If you’re a millionaire, you could face additional taxes in certain states if they proceed with proposed millionaire tax legislation. Here’s where it’s happening and what to know.
If You Use a Car for Your Business, These Expenses Are Tax-Deductible
Certain car expenses are deductible if the car is used for your business. Is gas tax deductible? We'll break down all of the rules.
Did You Know That Certain Parts of Your Mortgage Payment Are Tax Deductible?
For homeowners making mortgage payments, there's a potential tax deduction to reduce taxable income. However, certain requirements apply.
Should You Give Your Employees Gift Cards? There Are Tax Implications
In the eyes of the IRS, giving your employees a gift card with a cash value is like giving them a bonus, so are gift cards taxable?
Private School Tuition Can Be Tax Deductible in Some Cases
If private school tuition is a blow to your bank account, you may be wondering if it’s tax deductible. Here’s the scoop on when — and where — you may be able to deduct private school tuition on your taxes.
Are Moving Expenses Tax Deductible? Not for Most Americans
Moving expenses used to be tax-deductible for most Americans. What has changed about moving expenses and tax deductions?
Over 9 Million Households Qualify for a November Stimulus Check — Do You?
The IRS is notifying over 9 million households that they may be eligible for tax credits or stimulus payments. See whether you qualify for these benefits.
Why Isn't Rent Tax Deductible? How to Save on Taxes as a Renter
With all the money you’re spending on rent, you may wonder why rent isn't tax deductible. Unfortunately, the tax deductions on your rental property go to someone else.
Estate and Gift Tax Exemptions Increase in 2023, Generous Break for Wealthy Americans
As inflation causes the federal government to hike tax brackets and social security income, wealthy Americans are also getting a break: a bigger estate tax exemption for 2023.
IRS Announces New Tax Brackets for 2023 — What It Means for You
The IRS announced new tax brackets for 2023 that increased by 7 percent to adjust for rising inflation. See what the changes mean for you.
You Can File Taxes After the Oct. 17 Deadline, but Expect Penalties
If you missed the Oct. 17 tax deadline, the IRS may charge you late filing fees, which might include the Failure to File Penalty. We have all the details.
Is Student Loan Forgiveness Taxable? In Some Cases, Yes
Student loan forgiveness applications are now available. Will some borrowers have to pay income taxes on the forgiven amount? Here's what we know.
If You Receive Workmans' Compensation Benefits, You May Owe Uncle Sam
Workmans' compensation benefits have their own tax treatments. Here’s how these funds are treated differently in the United States. Is workers' comp taxable?
Robinhood Tax Documents: Release Date and How You Can Access Them
Robinhood should release 1099 tax documents to customers by mid-February. However, delays can occur and extensions are granted if necessary.
Some Hybrids Are Eligible for the Revised $7,500 EV Tax Credit
The $7,500 tax credit is an attractive incentive, but is your hybrid vehicle you’re eyeing even eligible? See which EVs and hybrids are eligible.
If You Get a Netspend Card in the Mail From the IRS, Don't Throw It Away!
If you received a Netspend card in the mail from the IRS, there’s a reason why. Here’s what the card is for and how you can use it. The card isn't a scam.
Spoiler Alert: Logan Paul Lied About Bad Bunny Committing Tax Fraud
Logan Paul accused Bad Bunny of tax fraud. Here’s why it isn’t true — and why the tax fraud rumor is probably just another way to stoke a fire.
Got Capital Gains? How to Donate Them to Save on Taxes
The bear market may be dampening your giving spirit, but when those capital gains return, you can donate them to reduce your tax liability.
A Complete Timeline of Shakira's Alleged Spanish Tax Fraud
Is Shakira going to jail for not paying taxes? Here is everything you need to know about the Colombian singer's legal troubles, including a complete timeline.
Puerto Rico Pays Taxes, Gets Natural Disaster Relief From U.S.
As an unincorporated U.S. territory, most Puerto Ricans don’t get the right to vote. Does Puerto Rico pay taxes to the U.S. government?
Companies Can Claim Employee Retention Tax Credit Until the End of 2022
Although the Employee Retention Credit period has passed, businesses may be able to apply for the ERC retroactively for the affected quarters.
Queen Elizabeth Paid Taxes Voluntarily — Royal Family Is Exempt From Most Taxes
How the royal family members finance their lifestyles is based largely on property owned by the monarchy and funded by taxpayers. But does the royal family pay taxes as well?
Don't Miss the Deadline to Claim a Child Tax Credit of up to $750
Rhode Island residents must file their taxes by August 31, 2022, in order to be eligible for a Child Tax Credit (CTC) of up to $750.
How to Take Advantage of the Heat Pump Tax Credit
The Biden administration slipped a heat pump tax credit into the Inflation Reduction Act of 2022. Here’s how to take advantage of it.
How Stipends Work: Employers Don't Withhold Taxes, Still Taxable Income
Stipends are payments made outside of wages or salary, often to cover specific expenses. Stipends are taxable, but typically employers don't withhold taxes.
SEC Whistleblower Awards Are Taxed as Income, Can Offer Big Payout
How does the SEC whistleblower program work? Let's see what the average award amounts are and how they're taxed. Does it pay to provide information to the SEC?
HSA Accounts Help Combat Inflation Due to Tax Benefits
A health savings account (HSA) could help you combat inflation thanks to its tax benefits. Here's what we know about an HSA account as a hedge against inflation.
Connecticut's Child Tax Rebate Check: Who Gets It and When
The Connecticut child tax rebate program is offering $250 per child, and you may get up to $750. Who's eligible for the check?
Stock Buybacks Receive Favorable Tax Treatment Even With Tax Code Change
Stock buybacks will see a tax code change after the Senate passed the Inflation Reduction Act of 2022, but the maneuver still receives favorable tax treatment.