If you have a tax-favored retirement account, including a traditional IRA, you’ll become exposed to the federal income tax required...

Are you dreaming of buying a vacation beach home, lakefront cottage or ski chalet? Or perhaps you’re fortunate enough to already own a...

Some people mistakenly believe that Social Security benefits are always free from federal income tax. Unfortunately, that’s often not the...

Unemployment has been holding steady recently at 3.7%. But there are still some people losing their jobs — particularly in certain...

With the high cost of college, many parents begin saving with 529 plans when their children are babies. Contributions to these plans...

If you’re gathering documents to file your 2023 tax return and you’re concerned that your tax bill may be higher than you’d like, there...

Did you make large gifts to your children, grandchildren or others last year? If so, it’s important to determine if you’re required to...

When you file your tax return, a tax filing status must be chosen. This status is used to determine your standard deduction, tax rates,...

Did you donate to charity last year? Acknowledgment letters from the charities you gave to may have already shown up in your mailbox. But...

Although traditional IRAs and Roth IRAs have been around for decades, the rules involved have changed many times. The Secure 2.0 law,...

The IRS announced it will open the 2024 income tax return filing season on January 29. That’s when the tax agency will begin accepting...

The so-called “kiddie tax” can cause some of a child’s unearned income to be taxed at the parent’s higher marginal federal income tax...

One of your New Year’s resolutions may be to pay more attention to your health. Of course, that may cost you. Can you deduct your...

When you retire, you may think about moving to another state — perhaps because the weather is more temperate or because you want to be...

Monetary awards and settlements are often provided for an array of reasons. For example, a person could receive compensatory and punitive...

You may have heard of the “nanny tax.” But if you don’t employ a nanny, you may think it doesn’t apply to you. Check again! Hiring a...

If you’re concerned about your 2023 tax bill, there may still be time to reduce it. Here are four quick strategies that may help you trim...

If you have a tax-saving flexible spending account (FSA) with your employer to help pay for health or dependent care expenses, there’s an...

The IRS recently announced various 2024 inflation-adjusted federal tax amounts that affect individual taxpayers. Most of the federal...

Many homeowners across the country have seen their home values increase in recent years. According to the National Association of...