Got family? Then you might have tax deductions as well. For each dependent you can claim, you can deduct $3,900 from your federal taxable income, which is likely to reduce your taxes. Full story
Each year the IRS makes changes to tax rates and increases various tax benefits due to inflation adjustments. By law these tax
provisions must be adjusted to keep pace with inflation. Here are some of the tax adjustments for 2013 that may help you keep more money in your pocket when you file your taxes next tax season.
For that time in a person’s life when he or she begins to take care of their parent, its important to know that the IRS allows those individuals to claim their parents as dependents on their tax return. Full story
“What or Who is my Dependent?”, continues to be the most asked questions every tax season and with dependents helping you qualify for tax breaks we see why you’re asking. You may be wondering, “can I claim my mother, brother, girlfriend, cat?” Here is our motion graphic to help you. Full story
The long awaited Olympic opening ceremony is here, but what may not have been anxiously awaited are taxes related to the 2012 London Olympics. Josh Ritchie goes for the gold and gives you information about taxes and the 2012 London Olympics. Full story
Our taxes are largely tied to how much money we make. If you find yourself making more, chances are you’ll need to pay more, and if your income goes down you’ll probably find that you’re paying less. If you’re expecting a major change in income here are a few things to pay attention to so that you can make the most of it. Full story
If you’re a true bargain hunter, you’ve probably heard about duty-free shopping before. It’s an opportunity to save tens or hundreds of dollars on your purchases by shopping in areas that have been designated as “duty” (or tax) free. Unfortunately, like many shopping tactics, duty-free isn’t always clear-cut. Today, we’ll introduce you to the topic with our beginner’s guide on duty-free shopping.
Throughout history the IRS continues to give us a little break on our taxes by adjusting the standard deduction and personal exemption each year for inflation. See how these deductions have increased throughout the years with our infographic comparison.
Wondering whether your girlfriend can be claimed as a dependent? Or your girlfriend’s child? Here is a breakdown of personal income-tax exemptions. Full story