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Tax guidance and resources

Looking for advice on lowering your federal or state taxes? You’ve come to the right place. Plus, get news and advice related to tax brackets, property taxes, estate taxes and more.

Explore tax basics

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Do I have to file taxes? Here’s how to figure out if you should file a tax return

Taxes
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Donation value guide: Calculate the value of your donated items for your taxes

Taxes
What is the long-term capital gains tax?

What is the long-term capital gains tax?

Investing
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Standard deduction vs. itemized deduction: Pros, cons and how to decide

Taxes

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Latest articles

Small-business owner doing inventory in his boutique.
The Section 179 deduction and bonus depreciation both let businesses write off expenses quickly. Here’s what you need to know.
Pennsylvania Welcomes You road sign at the state border.
A growing number of states are moving to a flat tax system to collect income taxes. That can be good news for taxpayers, but there are potential downsides.
The entrance to a Social Security office in Houston, Texas.
Lawmakers have introduced a new bill that aims to permanently end taxes on Social Security benefits. High-income earners may not like it.
Man sitting at home, at his laptop, working on his finances.
These 10 tax credits and deductions can help you trim your tax bill and, in some cases, even boost your refund.
A family removes items from their home in the aftermath of Hurricane Helene on Sept. 30, 2024 in Old Fort, North Carolina.
When disaster strikes, taxes may be the last thing on your mind. But the casualty loss deduction can offer much-needed financial relief.
Hairdresser working on a client's hair in a salon.
New tax breaks on tip income and overtime pay go into effect this year. Event planners, hairdressers, handymen and Uber drivers are among those who qualify for no tax on tips.
Serious woman working on laptop.
In many cases, keeping tax records for three years is long enough, but there are a few exceptions.
Illustration of a clock with a post-it note on it that says "tax time!"
The Oct. 15 tax deadline is coming up fast for anyone who filed an extension. Here are 4 tips to help you get ready to file your tax return.
Sad, depressed caucasian man holding documents, sitting at computer in home office.
Tax fraud can come with hefty penalties and fines, even jail time. Tax evasion is a type of fraud. But tax avoidance is legal.
Al Capone on the day of his release from jail, Chicago, 1939.
Al Capone may be the face of tax evasion and all that can go wrong if you purposefully don’t pay your taxes. But tax avoidance is legal, and even encouraged by financial experts.
Gross income: Definition, why it matters and how to calculate it
Gross income is your total pay, before deductions or taxes are taken out. It plays a big role in some key personal finance calculations.
Two women are examining items for sale at an outdoor market in Etretat, Normandy, France. The young woman on the left is wearing a red beret, a red and white striped top. The mother, mature woman on the right, dressed in a navy-blue shirt and carrying a large straw bag.
Value-added tax (VAT) is not unlike sales tax, but there are key differences. Many countries impose a VAT instead of sales tax.
A young African-American man and woman sit at a table working on their finances with a laptop, phone and notebooks.
Mutual fund taxes can be complicated. Here’s what you need to know.
An older couple opens boxes of inventory as they set up their small shop.
If your business is an LLC, you’ll need to pick the tax-filing status that suits your business best.
Small-business owner looks at his tablet as he works at the counter of his store.
An LLC can reduce the legal liability of its members, among other benefits, but there are some disadvantages to consider, too.
A couple reviews tax paperwork, with their laptop open, while at their kitchen table.
Here’s how the sales tax deduction works, what purchases are eligible and how to claim it.
Pennsylvania Welcomes You road sign at the state border.
A growing number of states are moving to a flat tax system to collect income taxes. That can be good news for taxpayers, but there are potential downsides.
The entrance to a Social Security office in Houston, Texas.
Lawmakers have introduced a new bill that aims to permanently end taxes on Social Security benefits. High-income earners may not like it.
Hairdresser working on a client's hair in a salon.
New tax breaks on tip income and overtime pay go into effect this year. Event planners, hairdressers, handymen and Uber drivers are among those who qualify for no tax on tips.
Illustration of a clock with a post-it note on it that says "tax time!"
The Oct. 15 tax deadline is coming up fast for anyone who filed an extension. Here are 4 tips to help you get ready to file your tax return.
Mother picking up small daughter from school, embracing in front school building.
It’s back-to-school season, and expenses add up fast. These state and federal tax breaks can help.
Girl with braided hair writing in book while sitting at desk with students in classroom.
A new $1,700 tax credit will be available in 2027 for donations aimed at helping private school students.
Flower shop owner using digital tablet at counter.
The “big, beautiful bill” changed the reporting thresholds for 1099-Ks. Here’s what you should know if you get paid through Venmo, PayPal, Cash App or another payment app.
Illustration that shows a state highway sign with the words "income tax" and dollars floating in the sky around it.
Here are the 5 states with the highest income tax rates, and the 5 states with the lowest.