Taxes are one of the biggest budget items for most taxpayers, yet many have no idea what they’re getting for their money. The average household spends more on taxes than on groceries, clothing, or healthcare. […] Read More

No one wants to see an Internal Revenue Service (IRS) auditor show up at their door. The IRS can’t audit every American’s tax return, so it relies on guidelines to select the ones most deserving […] Read More

As parents, we encourage our children to work, so they can learn important values about work and independence. At what point, if at all, do children need to file an income tax return for the […] Read More

You may have to make estimated tax payments if you earn income that is not subject to withholding, such as income from self-employment, interest, dividends, alimony, rent, realized investment gains, prizes, and awards. You also […] Read More

On July 4, the One Big Beautiful Bill was signed into law at a White House ceremony. This domestic policy bill extends the 2017 tax cuts set to expire this year, making some of those […] Read More

American educational reformer Horace Mann called education, “the great equalizer.” In football, it’s been said that turnovers are the great equalizer. In taxes, there’s also an equalizer of sorts; it’s called the alternative minimum tax, […] Read More

The reason withdrawals from a Traditional Individual Retirement Account (IRA) prior to age 59½ are generally subject to a 10% tax penalty is that policymakers wanted to create a disincentive to use these savings for […] Read More

When a family member passes away, there are many decisions that need to be made and many emotions to handle. The last thing anyone thinks about is taxes. Unfortunately, even the deceased can’t escape taxation. […] Read More

Between 30% and 60% of taxable property has an inflated assessment, which may lead to higher property tax bills. For homeowners who think their local government may have assessed their property’s value too high, there […] Read More