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Most people get money from various sources: wages from a job, investment returns, income from a business, Social Security benefits, and more. Some of that income is taxable, and some isn’t, which makes calculating your taxable income—and estimating how much tax you’ll owe—challenging. However, estimating your taxable income before filing your tax return can help […]

If you’ve ever filed a federal income tax return in the U.S., chances are you used IRS Form 1040. This is the form used by most people to file a personal income tax return, report the income they received during the year, and figure out how much of that income is taxable after claiming tax […]

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Florida is famous for its beaches, gators, retirees—and for not imposing an individual income tax. Also, the state itself does not assess a property tax, although local Floridian governments may administer a property tax. As a result, Florida had the eighth-lowest tax burden (defined as the state and local taxes a resident pays divided by […]

Roughly 90% of taxpayers claim the standard deduction vs. itemized deductions. Should you do the same? The answer, as with most tax questions, is: it depends. This article will help you decide. Standard Deduction vs. Itemized Deductions: What’s the Difference? When you file your tax return, you generally have two options: Claim the standard deduction. […]

Did you use Credit Karma Tax to prepare your tax return in 2021? Expect to see changes for the coming tax-filing season as Credit Karma Tax no longer exists. In November 2020, Square, Inc., the parent company of the financial services app Cash App, announced an agreement to acquire Credit Karma’s free do-it-yourself tax filing […]

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Why should responsible citizens pay for the stupidity of the willingly unvaccinated, folks who are eligible and medically able to be inoculated, but refuse nevertheless, columnist Tom Elias says.

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