By diversifying your retirement income sources to include some of these tax-free options, you can potentially lower your ...

High-earning parents will soon be spared the hassle of filing a tax return to pay back child benefit. We explain what’s ...

Real tax reform would review taxes such as the GST, taxes on savings (including housing and super), and personal and ...

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 ...

The amount of the tax depends on your income, filing status, and how long you held the stock. Also, expect to pay taxes on dividends, which are distributions paid by companies to their shareholders.

There are numerous ways to earn passive income, but unfortunately most of them are taxable. This is particularly true of income-generating investments, of which only a handful allow you to avoid ...

The IRS considers canceled debt, including most forms of student loan forgiveness or discharge, as taxable income. However, borrowers working toward loan forgiveness have been exempt from taxes ...

The added advantage of buying a life insurance policy is the tax benefits it offers, making it a smart financial choice. But how does it impact your taxable income in India?

which means you’re expected to pay taxes on taxable income year-round, not just when you file your tax return. That’s not a problem when you have taxes withheld from your paycheck, unless you ...

UBTI is income earned by a tax-exempt entity from activities unrelated to its exempt purpose. Unrelated Business Taxable Income (UBTI) is the income earned by a tax-exempt entity from activities ...

Federal income tax is a necessary evil, but residents in a few parts of the country don't have to pay state income taxes. Eight U.S. states don't impose any kind of income tax and one only taxes ...

The United States federal income tax is levied by the Internal Revenue Service (IRS) on the annual earnings of individuals, corporations, trusts, and other legal entities. Federal income taxes for ...