Understanding tax strategies and managing your tax bill should be part of any sound financial approach. Some taxes can be deferred, and others can be managed through tax-efficient investing. With careful and consistent preparation, you may be able to manage the impact of taxes on your financial efforts.
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Here are some examples of deductions from the IRS that were permitted and some that were, uh, too creative.
A quick look at how federal income taxes work.
The tax rules governing profits you realize from the sale of your home have changed in recent years.
When your child has income, there’s a good chance that he or she will need to report it and pay taxes.
Five overlooked tax deductions to help manage your tax bill.
An inside look at how marginal income tax brackets work.
Use this calculator to estimate your capital gains tax.
Use this calculator to estimate your income tax liability along with average and marginal tax rates.
This calculator compares the net gain of a taxable investment versus a tax-favored one.
Estimate how much of your Social Security benefit may be considered taxable.
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