A change in tax law means you may be able to deduct certain charitable contributions even if you take the standard deduction.
Tax tip of the week: If you give to charity, be aware of this change in deductions
Tax tip of the week: Get a refund even when federal income tax goes to zero
The difference between refundable and nonrefundable tax credits matters. You may benefit from filing a return even if your income is low enough to make filing seem unnecessary.
Tax tip of the week: Know the difference between deductions and credits
Tax deductions and tax credits – both can lower your taxes, but they work in very different ways, and you don’t get to choose.
Tax tip of the week: Finding the right help to file isn’t as simple as you might think
Don’t choose a tax professional just based on the initials after someone’s name. Not every certified public accountant specializes in tax.
Tax tip of the week: Keep better records now and thank yourself in April
Keeping the right records throughout the year can help you claim deductions and credits, calculate gains properly and avoid paying more tax than necessary.
Tax tip of the week: A Form 1099 shows money was paid to you, but not what you have to report
What matters is how much you actually made. If you sold something, make sure what you paid for it is taken into account when preparing tax returns.
Tax tip of the week: You pay income taxes until you die, your estate pays taxes on income afterward
If you die but your estate continues earning bank interest, dividends, rental income or investment gains, it's only the form of filing taxes that changes.
Tax tip of the week: Everyone has an estate. Who manages yours when you die?
An estate is not something that applies only to wealthy families, but concerns anyone who dies owning property, holding financial accounts or owing debts.
Tax tip of the week: You’ll need to give away $15M as gifts before the IRS cares
The federal gift tax system works somewhat like a lifetime ledger. In many cases, give a large gift and you need to report it – not write a check to the IRS.
Tax tip of the week: That gift, if it was a real gift, is tax free
A true gift isn’t payment for work or services, and money or property inherited from a family member or friend is also generally not taxable income to the recipient.