Joy Taylor

Joy Taylor

Editor, The Kiplinger Tax Letter
Prior to joining Kiplinger in 2010, Joy worked as a tax attorney in Washington, D.C., for 15 years. She earned an accounting degree and a JD from the University of Houston, and a master's degree in tax law from New York University. After years of working in big law firms, Joy saw the light and now puts all of her education and legal experience to use in writing about taxes for the Tax Letter and Kiplinger.com.
Tax Tip: Reporting a 2020 RMD From an IRA That You Later Returned
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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
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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
How 10 Types of Retirement Income Get Taxed
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retirement

How 10 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.
February 9, 2021
House Democrats Propose Monthly Payments of Up to $300 Per Child
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Coronavirus and Your Money

House Democrats Propose Monthly Payments of Up to $300 Per Child

A bill in Congress would increase the child tax credit and have 50% of it paid in advance by the IRS from July through December.
February 9, 2021
Tax Changes and Key Amounts for the 2020 Tax Year
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tax law

Tax Changes and Key Amounts for the 2020 Tax Year

There were a lot of tax changes for the 2020 tax year. Get familiar with them now – before you file your 2020 tax return.
February 8, 2021
Mitt Romney's Higher Child Tax Credit Comes With a Twist
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Coronavirus and Your Money

Mitt Romney's Higher Child Tax Credit Comes With a Twist

The Senator is calling for monthly payments of $250 or $350 per child, but he also wants to eliminate other family friendly tax breaks.
February 4, 2021
Republican Senators' Plan Drops the $3,000 or $3,600 Child Credit
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Coronavirus and Your Money

Republican Senators' Plan Drops the $3,000 or $3,600 Child Credit

A plan by 10 moderate GOP Senators omits Biden's proposal for a higher temporary child tax credit.
February 2, 2021
18 Believe It or Not Tax Breaks
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Tax Breaks

18 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…
January 27, 2021
Biden's Stimulus Plan Includes $3,000 Child Tax Credits
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Coronavirus and Your Money

Biden's Stimulus Plan Includes $3,000 Child Tax Credits

The president is calling for a temporary tax credit of $3,000 per child (more for younger children).
January 27, 2021
17 Nice-Try Tax Breaks Rejected by the IRS
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Tax Breaks

17 Nice-Try Tax Breaks Rejected by the IRS

Everyone wants to lower their tax bill—but sometimes people try a little too hard.
January 26, 2021
12 IRS Audit Red Flags for Retirees
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retirement

12 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 14, 2021
22 IRS Audit Red Flags
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tax returns

22 IRS Audit Red Flags

There's no sure way to avoid an IRS audit of your tax return, but these red flags could increase your chances of drawing unwanted attention from the I…
January 12, 2021
Considering Divorce? Beware of Retirement Account Breakups
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Divorce

Considering Divorce? Beware of Retirement Account Breakups

Gray divorce issues include weaving through the complications of splitting pensions, 401(k)s and more before the process is complete.
January 4, 2021
Biden's Plan to Tax the Rich Faces Roadblocks
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Politics

Biden's Plan to Tax the Rich Faces Roadblocks

The president-elect is unlikely to get much on his wish list, with the Democratic majority in the House narrowed and the GOP likely keeping control of…
November 16, 2020
Tax Tip: How to Deduct Property Damage Caused by Hurricane Zeta
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Tax Breaks

Tax Tip: How to Deduct Property Damage Caused by Hurricane Zeta

Get the maximum tax deduction for property losses resulting from Hurricane Zeta or other natural disasters.
October 28, 2020
Tax Tip: How to Deduct Property Damage Caused by Hurricane Delta
Tax Breaks

Tax Tip: How to Deduct Property Damage Caused by Hurricane Delta

Get the maximum tax deduction for property losses resulting from Hurricane Delta or other natural disasters.
October 9, 2020
Now’s the Time for Estate Tax Planning
Financial Planning

Now’s the Time for Estate Tax Planning

There's a wealth of opportunity with IRS interest rates at an all-time low and the federal estate and gift tax exemption at an historic high.
September 18, 2020
Tax Tip: How to Deduct Property Damage Caused by Hurricane Sally
Tax Breaks

Tax Tip: How to Deduct Property Damage Caused by Hurricane Sally

Get the maximum tax deduction for property losses resulting from Hurricane Sally or other natural disasters.
September 17, 2020
Tax Tip: How to Deduct Property Damage Caused by Hurricane Laura
Tax Breaks

Tax Tip: How to Deduct Property Damage Caused by Hurricane Laura

Get the maximum tax deduction for property losses resulting from Hurricane Laura or other natural disasters.
August 31, 2020
The Lowdown on Capital Gains Tax Rates for 2020 and Beyond
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Financial Planning

The Lowdown on Capital Gains Tax Rates for 2020 and Beyond

Rates for long-term capital gains are based on set income thresholds that are adjusted annually for inflation.
August 11, 2020
20 IRS Audit Red Flags (2020)
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tax returns

20 IRS Audit Red Flags (2020)

There's no sure way to avoid an IRS audit, but these red flags could increase your chances of drawing unwanted attention from the IRS.
July 1, 2020
10 IRS Audit Red Flags for Retirees (2020)
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retirement

10 IRS Audit Red Flags for Retirees (2020)

Watch out: These things can increase the chances that the IRS will give your tax return a closer look.
July 1, 2020
The Employee Retention Tax Credit Helps Keep Workers Working
taxes

The Employee Retention Tax Credit Helps Keep Workers Working

The credit is worth up to $5,000 per paid employee for businesses financially harmed by the coronavirus pandemic that continue to keep employees on th…
May 19, 2020
7 CARES Act Tax Breaks for Businesses
Tax Breaks

7 CARES Act Tax Breaks for Businesses

No matter what business you're in, there's probably at least one CARES Act tax breaks that can improve your bottom line and help you stay afloat.
April 8, 2020
When Will You Get Your Stimulus Check?
spending

When Will You Get Your Stimulus Check?

The official government response is that people will start getting money in just a few weeks. But don't hold your breath waiting for that to happen.
April 3, 2020
Retirees, No Tax Deduction for Hobby Losses
retirement

Retirees, No Tax Deduction for Hobby Losses

Business losses are generally deductible on Schedule C of your federal tax return. But there’s a double-edged sword on the taxation of hobby losses.
March 6, 2020
A New Tax Break for Rental Income
retirement

A New Tax Break for Rental Income

Self-employed individuals and owners of S corporations, partnerships and LLCs can now write off 20% of their qualified business income.
March 5, 2020