Understanding tax strategies and managing your tax bill should be part of any sound financial approach. Some taxes can be deferred, and others can be managed through tax-efficient investing. With careful and consistent preparation, you may be able to manage the impact of taxes on your financial efforts.
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Here's a breakdown of how the federal government spends your tax money.
Here are some examples of deductions from the IRS that were permitted and some that were, uh, too creative.
A quick look at how federal income taxes work.
The chances of an IRS audit aren't that high. And being audited does not necessarily imply that the IRS suspects wrongdoing.
An inside look at how marginal income tax brackets work.
When you take the time to learn more about how it works, you may be able to put the tax code to work for you.
Use this calculator to assess the potential benefits of a home mortgage deduction.
Estimate how much of your Social Security benefit may be considered taxable.
Use this calculator to estimate your income tax liability along with average and marginal tax rates.
This calculator compares the net gain of a taxable investment versus a tax-favored one.
Use this calculator to estimate your capital gains tax.
Assess how many days you'll work to pay your federal tax liability.