Taxes
Latest Taxes News
Can You Deduct Property Taxes on Your Tax Return?
When tax season rolls around, homeowners often wonder if property taxes are deductible on their tax returns. The answer is…
What Happens If You File an Extension But Owe Money?
Filing an extension can give you extra time to complete your tax return, typically pushing the deadline from April to…
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…
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…
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,…
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,…
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.…
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…
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…
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…
