The way your income is taxed differs based on whether it’s considered earned or unearned . Read on to learn more.

Are IRA contributions tax-deductible? They might be, but eligibility depends on income, filing status and participation in a ...

Your marginal tax rate is the highest tax rate you’ll pay on your income, based on your federal income tax bracket. Learn more about this tax rate. When thinking about federal income taxes, many ...

The alternative minimum tax (AMT) calculation determines whether a taxpayer must pay an additional amount beyond their regular income tax liability. To calculate AMT, taxable income is adjusted by ...

Now that the tax filing deadline is just days away, you may be thinking that it’s too late to reduce what you owe on your 2023 federal income tax return. But there’s still time to lower your tax bill, ...

After decades of working and contributing to the Social Security system, many retirees assume that the benefits they've earned are exempt from federal income tax — but unfortunately, that's not always ...

Whether you're a business owner, high earner, or retiree, consider these strategies to reduce taxable income and capital gains for a smaller tax bill in 2024. Whether you're a business owner, high ...

In some situations you can have all or some of your debt forgiven. The portion of debt that is forgiven can be considered taxable income. The company that canceled the debt that will issue a Form 1099 ...

Modified adjusted gross income, or MAGI, might sound like just more tax jargon, but knowing how to calculate your MAGI is key to determining your eligibility for several valuable tax benefits, ...

US workers can expect to receive a W-2 form by the first week of February. The form details your total earnings from the ...

Income refers to money, property or services you receive, typically in return for some service rendered or goods sold. Typical sources of income can include your pay as an employee, your earnings as a ...