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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You may have heard the phrase "tax-loss harvesting." A financial professional may be able to provide some guidance.
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.
Have income that isn’t subject to tax withholding? Or insufficient withholdings? You may have to pay estimated taxes.
Here are some examples of deductions from the IRS that were permitted and some that were, uh, too creative.
When your child has income, there’s a good chance that he or she will need to report it and pay taxes.
Use this calculator to estimate your capital gains tax.
Assess how many days you'll work to pay your federal tax liability.
Use this calculator to assess the potential benefits of a home mortgage deduction.
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.
Estimate how much of your Social Security benefit may be considered taxable.