Taxes
Latest Taxes News
Who Is Exempt From Paying Taxes on Lottery Winnings
Winning the lottery can create instant wealth, but it also introduces immediate tax considerations. U.S. tax law generally treats lottery…
Who Pays Taxes on a Custodial Account
Custodial accounts are a common way for parents and grandparents to save or invest on behalf of a minor, but…
Tax Implications of Selling a House Below Market Value
Selling a home below its fair market value can trigger tax considerations that go beyond a standard real estate transaction.…
Tax Implications of a Parent Living With You
The tax implications of a parent living with you depend on several factors, including financial support, income levels and household…
Tax Implications of Withdrawing Money From a Trust
Pulling money out of a trust can feel straightforward, but the tax consequences are often anything but. Depending on how…
Capital Gains Tax on Equities: Rules, Rates and Calculation
When you sell stocks, exchange-traded funds (ETFs) or other equity investments for more than you paid, the profit is generally…
Who Is Exempt From Federal Income Tax: Individuals and Groups
Federal income tax applies to most people who earn income in the U.S., but the tax code includes limited exceptions.…
How Long Does a Tax Extension Last? Deadlines, Rules and Penalties
If you’re scrambling to compile tax documents as the filing deadline approaches, you’re not alone. A tax extension can offer…
Can You Still Get Your Tax Refund During an IRS Audit?
If the IRS notifies you of an audit, and you expected a tax return, you probably have a lot of…
Can You Claim an Adult Child as a Dependent on Your Taxes?
Whether you can claim an adult child as a dependent on your taxes depends on their age, income and living…
