Taxes

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Latest Taxes News

10 Examples of Taxable and Nontaxable Income

Understanding what counts as taxable income and what does not can significantly impact your financial planning and tax obligations. The…

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How Much Can You Inherit Without Paying Taxes?

An inheritance can offer helpful financial support, but it may also come with tax considerations. The taxes you might owe…

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How to Avoid Capital Gains Taxes in Washington State

Washington State imposes a 7% capital gains tax on the sale of certain long-term assets, including stocks and business interests,…

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Can You File Another Tax Extension After October 15?

For most individual taxpayers, the October 15 tax extension deadline is final. Unlike the automatic six-month extension granted in April,…

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Why Does Trump Want Tariffs?

President Donald Trump sees tariffs as a means to reduce trade deficits, encourage domestic manufacturing and address national security concerns.…

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Refundable Tax Credit: Explanation, Eligibility, Benefits

Tax credits reduce the amount you owe to the IRS, but not all tax credits work the same way. A…

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Nonrefundable Tax Credit: Definition, Types, Examples

A nonrefundable tax credit can lower what you owe to the IRS, sometimes substantially but only to a point. Unlike…

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What Is Earned Income? Examples and How to Calculate

When it comes to taxes and financial planning, you need to know the IRS has different rules for different types…

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2025 Corporate Tax Rates and Brackets By State

Corporate income taxes vary widely across the U.S. Some states impose flat rates, while others apply graduated brackets based on…

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Form 2439: What Is It, Who Files It and Who Gets It?

Form 2439 is a tax document that a regulated investment company (RIC) or real estate investment trust (REIT) issues when…

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