Tax Plan

Income Tax
Property Tax
Tax Fililng
Tax Plan

Why Moving to a State with Low Income Taxes Could Cost You

Moving to a state that has little or no income tax may not be a savings panacea. That’s what financial professionals are telling clients who are fed up with high income tax rates in their home state and weighing an out-of-state move. They’re counseling clients to take an in-depth look at the possible financial and […]

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Tax Plan
Taxes

Marriage Penalty vs. Marriage Bonus: How Taxes Work

SmartAsset Study: How Does ‘Marriage or Mortgage’ Work in Different Metro Areas? Even if your wedding was all about eternal love, companionship and mason jars wrapped in twine, don’t fool yourself: at the end of the day, your marriage is essentially a tax arrangement in the eyes of the state. When two people become one […]

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Tax Fililng
Tax Plan
Tax Refunds

‘I’m trying not to work people into a downward spiral’: Why some parents should brace themselves for a lower tax refund in 2022

In 2021, the enhanced Child Tax Credit gave millions of families some financial cushion through monthly payments. In 2022, the same tax credit might take away from the size of many income tax refunds — or even give some unanticipated tax bills — according to tax professionals who are bracing for agitated clients. “There’s going […]

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Income Tax
IRS
Tax Deductions
Tax Fililng
Tax Plan

Make less than $73,000? File your taxes for free with an IRS program opening today

Make less than $73,000? File your taxes for free with an IRS program opening today The only thing worse than slogging through your taxes each year is paying for the privilege. But why pay for help if you can join the tens of millions of Americans who get their taxes done for free? Today the […]

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Capital Gains Tax
Short Term Capital Gains
Tax Loss Selling
Tax Plan
Taxes

Taxes on Stocks: What Will You Have to Pay?

Capital gains taxes are owed only after an asset, like stock, is sold Buying and selling stocks involves paying capital gains taxes. How much you’ll owe depends on the amount of your earnings and how long you hold the stocks. While high-earners can pay as much as 37% on stocks they sell within a year […]

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Capital Gains Tax
Tax Deductions
Tax Loss Selling
Tax Plan
Taxes

9 Things You Didn't Know Were Tax Deductions

1. Sales taxes You have the option of deducting sales taxes or state income taxes from your federal income tax. In a state that doesn’t have its own income tax, this can be a big money saver. Even if you paid state taxes, the sales tax break might be a better deal if you made […]

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Billionaire Tax Proposal
Capital Gains Tax
Estate Tax
Gift Tax
Property Tax
Tax Plan
Tax Proposals
Taxes

Super-Rich Americans Feel Relief as Tax Hikes Are Canceled for Now

(Bloomberg) — An exceptional year for wealthy Americans, at least in terms of their financial health, just got better. If West Virginia Senator Joe Manchin votes against President Joe Biden’s signature economic package, as he said he would on Sunday, rich Americans will escape any tax hikes, saving the top 0.1% hundreds of billions of […]

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Billionaire Tax Proposal
Democrats
House Of Representatives
Tax Plan
Tax Proposals
Taxes

House Democrats Push Surprising Tax Break for the Rich

The latest version of the Build Back Better Act, which the House could vote on a soon as this week, includes a controversial tax break that would overwhelmingly benefit high-income households, though whether it will survive revisions in the Senate is still an open question. Pushed by lawmakers from high-tax states, House Democrats are proposing […]

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Tax Plan
Taxes

New 2022 Tax Brackets: Changes Give You A Small Break

The IRS has raised the thresholds for federal tax brackets for income taxes and capital gains for 2022. That means many taxpayers with the same or even slighter higher income in 2022 vs. 2021 will still be in a lower bracket. They’ll be subject to lower tax bills. Will you fall into a higher federal […]

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Democrats
Tax Plan

Why can’t Democrats keep it simple?

House Speaker Nancy Pelosi of Calif., arrives for a meeting with House Democrats on Capitol Hill in Washington, Tuesday, Oct. 26, 2021. (AP Photo/Andrew Harnik) Congressional Democrats need a KISS—as in keep it simple, stupid. Because the tax plan they’re producing after 8 months of interparty bickering is beginning to look like an overcomplicated, indefensible […]

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