Tax Tips

Tax Tips

Our experts will count down moves to make to lower your tax bill.

December 6, 2019

Year-End Tax Tip: Withdraw Your Required Minimum Distribution

If you're age 70½ or older, take your RMD now to avoid a big penalty.

See More On: Required Minimum Distributions (RMDs) | 401(k)s | IRAs

December 3, 2019

Year-End Tax Tip: Give Cash Gifts to Family and Friends

'Tis the season for giving. So why not take advantage of the annual gift tax exclusion before ringing in the new year.

See More On: Tax Planning | Estate Planning | Tax Breaks

November 15, 2019

'Jeopardy James' Wins Again...and Ups His 2019 Tax Bill

After winning the "Jeopardy!" Tournament of Champions, James Holzhauer will owe the IRS and California even more on April 15.

See More On: Tax Prep & Filing | Tax Planning

November 19, 2019

Year-End Tax Tip: Renew Your Expiring Individual Taxpayer Identification Number (ITIN)

Beat the rush and avoid refund delays by renewing your ITIN before the end of the year.

See More On: Tax Prep & Filing

November 12, 2019

Year-End Tax Tip: Max Out Your 401(k) Plan Contributions

You can still save more for retirement if you haven't reached the 2019 contribution limit yet.

See More On: Saving for Retirement | 401(k)s | IRAs

November 15, 2019

Year-End Tax Tip: Check the Withholding from Your Wages

If you've had too much or too little tax withheld from your paychecks, there's still time to submit a new Form W-4 to have your withholding adjusted for the rest of the year.

See More On: Tax Planning | Tax Prep & Filing

September 30, 2019

Health Savings Account Limits for 2020

Annually adjusted contribution limits and other requirements must be met if you're covering health care costs with an HSA in 2020.

See More On: Health Care & Insurance | Employee Benefits | Family Finances

September 6, 2019

Tax Relief for Hurricane Dorian Victims

Deductions for lost or damaged property, filing and payment extensions, and fee waivers can help taxpayers impacted by the storm.

See More On: Tax Breaks | Tax Planning

September 4, 2019

Deduct Expenses for Long-Term Care on Your Tax Return

The IRS allows some limited tax breaks on medical expenses and insurance premiums related to long-term care.

See More On: Long-Term Care Insurance | Caregiving | Alzheimer's Financial Planning

September 2, 2019

Heirs Can Use NUA Tax Break for Inherited 401(k)s

This tax-saving move will result in more money in your pocket if you inherit employer stock.

See More On: 401(k)s | Estate Planning | Making Your Money Last

August 2, 2019

Extended Tax Deadline: Moves to Make Before October 15

Beware penalties if you don't get your tax return to the IRS on time.

See More On: Tax Planning | Tax Prep & Filing

June 25, 2019

Taxes on Fireworks: Is Your State a Dud?

A handful of states impose special excise taxes on the sale of consumer fireworks.

See More On: Tax Planning | Tax Prep & Filing

June 5, 2019

How Much Tax Will James Holzhauer Pay on His 'Jeopardy!' Winnings?

The IRS and California will take about 46% of the game-show star's winnings.

See More On: Tax Prep & Filing | Tax Planning

May 24, 2019

Want a Bigger Tax Refund Next Year? Check Your Withholding!

The number of withholding allowances you claim on your W-4 form can affect the size of your next tax refund. Start with our new withholding calculator.

See More On: Tax Planning

April 27, 2017

How to Handle an IRS Audit of Your Tax Return

Don't panic, but arm yourself with knowledge. We provide links to the manuals IRS agents use to know what to look for when auditing various kinds of businesses.

See More On: Tax Prep & Filing | Tax Planning

May 9, 2019

IRS Form W-4: How Many Allowances Should I Claim?

The answer to this question will affect both your paycheck and next year's tax refund, so it's important to get this tricky number and your withholding right.

See More On: Tax Prep & Filing | Tax Planning

April 16, 2019

How Long Should You Keep Tax Records?

Hold onto your tax documents at least until the time limit for an audit runs out—and keep some records even longer.

See More On: Tax Prep & Filing

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