Joy Taylor

Joy Taylor

Editor, The Kiplinger Tax Letter

Joy is an experienced CPA and tax attorney with an L.L.M. in Taxation from New York University School of Law. After many years working for big law and accounting firms, Joy saw the light and now puts her education, legal experience and in-depth knowledge of federal tax law to use writing for Kiplinger. She writes and edits The Kiplinger Tax Letter and contributes federal tax and retirement stories to kiplinger.com and Kiplinger’s Retirement Report. Her articles have been picked up by the Washington Post and other media outlets. Joy has also appeared as a tax expert in newspapers, on television and on radio discussing federal tax developments.

Capital Gains Tax on Real Estate
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capital gains tax

Capital Gains Tax on Real Estate

Selling your home or a rental property at a gain? Here are important capital gains tax rules to keep in mind.
September 22, 2022
Tax Changes and Key Amounts for the 2022 Tax Year
picture of blocks with "2022 what's new?" written on them
tax law

Tax Changes and Key Amounts for the 2022 Tax Year

Americans are facing a long list of tax changes for the 2022 tax year. Smart taxpayers will start planning for them now.
August 19, 2022
Still Awaiting Your Federal Tax Refund? You're Not Alone
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tax refunds

Still Awaiting Your Federal Tax Refund? You're Not Alone

The IRS has a backlog of millions of unprocessed tax returns. If one of them is yours and you're owed a tax refund, you want to know when the IRS will…
August 9, 2022
Taxes on I Bonds in 9 Common Situations
picture of Series I savings bonds
taxes

Taxes on I Bonds in 9 Common Situations

Series I bonds are a popular savings investment that can also help you save on taxes…but the federal income tax consequences can be complex.
July 13, 2022
How 13 Types of Retirement Income Get Taxed
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retirement

How 13 Types of Retirement Income Get Taxed

When you're planning for retirement, it's fun to contemplate all the travel and rounds of golf ahead of you, but don't forget about taxes.
June 30, 2022
Child Tax Credit FAQs for Your 2021 Tax Return
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Tax Breaks

Child Tax Credit FAQs for Your 2021 Tax Return

As the April 18 tax filing deadline looms, parents have lots of questions about how to report the child tax credit and last year's monthly payments on…
April 14, 2022
SECURE Act 2.0: 14 Ways the Proposed Law Could Change Retirement Savings
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retirement plans

SECURE Act 2.0: 14 Ways the Proposed Law Could Change Retirement Savings

The House-passed bill would automatically enroll some workers in retirement plans, raise the mandatory age for RMDs, and much more.
April 1, 2022
Self-Employed? Watch Out for These IRS Audit Red Flags
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taxes

Self-Employed? Watch Out for These IRS Audit Red Flags

If you're in business for yourself, minimize the odds of the IRS giving your tax return a second look by avoiding these audit triggers.
February 5, 2022
14 IRS Audit Red Flags for Retirees
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retirement

14 IRS Audit Red Flags for Retirees

Seniors beware: Your actions can increase the chances of the IRS giving your tax return a closer look.
January 21, 2022
23 IRS Audit Red Flags
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tax returns

23 IRS Audit Red Flags

These actions and tax positions could increase your chances of the IRS selecting your return for audit.
January 11, 2022
2 Clever Ways to Gift Your Home to Your Kids
A happy couple holds the keys to their new home.
buying a home

2 Clever Ways to Gift Your Home to Your Kids

Be sure to consider the taxes you'll owe if you want to give the family home to an adult child.
December 23, 2021
19 Believe It or Not Tax Breaks
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Tax Breaks

19 Believe It or Not Tax Breaks

Your fellow taxpayers have successfully claimed write-offs for many things that most of us wouldn't even imagine. But be careful if you plan on follow…
November 22, 2021
19 Nice-Try Tax Breaks Rejected by the IRS
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taxes

19 Nice-Try Tax Breaks Rejected by the IRS

Everyone wants to lower their tax bill – but sometimes people try a little too hard.
November 16, 2021
Retirees, Plan for the Tax Hit From Savings Bonds
Several savings bonds
savings bonds

Retirees, Plan for the Tax Hit From Savings Bonds

The federal tax consequences for Series EE and I U.S. savings bonds are anything but straightforward. Here's how interest from savings bonds is taxed …
October 7, 2021
2 Tax Credits to Claim for Energy-Efficient Home Renovations
Concept art of a house with trees growing out of it.
tax planning

2 Tax Credits to Claim for Energy-Efficient Home Renovations

These tax incentives reward energy-efficient home improvements in different ways. Which credit you use depends on the remodeling you do.
August 11, 2021
Know the Rules for Renting Out Your Vacation Home
Senior couple check into high-end rental apartment.
Becoming a Homeowner

Know the Rules for Renting Out Your Vacation Home

Make sure you understand when you must pay taxes on rental income you earn and when you can deduct expenses for the upkeep of the property.
June 30, 2021
Child Tax Credit 2021: Opting Out of Monthly Payments
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Tax Breaks

Child Tax Credit 2021: Opting Out of Monthly Payments

The IRS has a new tool for eligible families who want to opt out of the $250 or $300 monthly child tax credit payment.
June 22, 2021
How to Get Child Tax Credit Payments if You Don't File a Tax Return
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Tax Breaks

How to Get Child Tax Credit Payments if You Don't File a Tax Return

Child tax credit payments are generally based on information from 2020 or 2019 returns, but non-filers can still get payments. The easiest way is to u…
June 14, 2021
Child Tax Credit Update: IRS Sending Letters to Families Who May Get Monthly Payments
picture of a notebook with "child tax credit" written on a page
Tax Breaks

Child Tax Credit Update: IRS Sending Letters to Families Who May Get Monthly Payments

The IRS has identified over 36 million families that may qualify for monthly child tax credit payments of up to $300 per child. The payments will begi…
June 7, 2021
Monthly Payments of the 2021 Child Tax Credit Will Begin July 15
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Tax Breaks

Monthly Payments of the 2021 Child Tax Credit Will Begin July 15

The IRS says it's on schedule to start sending monthly child tax credit payments this summer.
May 17, 2021
Biden Wants to Extend the $3,600 Child Tax Credit Through 2025
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Tax Breaks

Biden Wants to Extend the $3,600 Child Tax Credit Through 2025

If President Biden's proposal is enacted, eligible families could receive monthly payments for years.
April 28, 2021
Medical Expenses Retirees (and Others) Can Deduct on Their Taxes
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tax deductions

Medical Expenses Retirees (and Others) Can Deduct on Their Taxes

The list of medical deductions is broad and includes items such as expenses for service animals and the cost of long-term care.
April 14, 2021
Families Get a $3,000 Child Tax Credit for 2021
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Coronavirus and Your Money

Families Get a $3,000 Child Tax Credit for 2021

President Biden's stimulus package temporarily increases the child tax credit to $3,000 or $3,600 per child for most families. Half of it will be paid…
March 11, 2021
Congress Passes $3,000 Child Tax Credit for 2021
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Coronavirus and Your Money

Congress Passes $3,000 Child Tax Credit for 2021

The provision would temporarily increase the child tax credit to $3,000 or $3,600 per child for most families and have 50% of it paid in advance by th…
March 10, 2021
House Approves $3,000 Child Tax Credit for 2021
picture of a happy family at home
Coronavirus and Your Money

House Approves $3,000 Child Tax Credit for 2021

The proposal would temporarily increase the child tax credit to $3,000 or $3,600 per child for most families and have 50% of it paid in advance by the…
February 27, 2021
Tax Tip: Reporting a 2020 RMD From an IRA That You Later Returned
picture of elderly couple working on tax return
Coronavirus and Your Money

Tax Tip: Reporting a 2020 RMD From an IRA That You Later Returned

If you paid back a "required minimum distribution" from an IRA last year, you still have to report the payout on your 2020 tax return.
February 23, 2021
The Biden Stimulus Plan: Push for a Higher Child Tax Credit Continues
picture of mother, father and child sledding in the snow
Coronavirus and Your Money

The Biden Stimulus Plan: Push for a Higher Child Tax Credit Continues

The proposal currently on the table would increase the child tax credit to $3,000 or $3,600 per child and have the IRS pay 50% of it in advance.
February 16, 2021