Tax Breaks

9 States with No Income Tax
Tax Breaks

9 States with No Income Tax

If you choose to live in these states, every penny you earn is safe from state income tax (although one state taxes some dividends and interest). But …
October 19, 2021
12 States That Won't Tax Your Retirement Income
Tax Breaks

12 States That Won't Tax Your Retirement Income

Retirees can save a lot of money in these states that completely exempt the most common types of retirement income – 401(k)s, IRAs and pensions – from…
October 19, 2021
14 States That Won't Tax Your Pension
Tax Breaks

14 States That Won't Tax Your Pension

Some states have pension exclusions with limitations based on age and/or income. But these states don't tax pension income at all, no matter how old y…
October 19, 2021
Taxes in Retirement: How All 50 States Tax Retirees
Tax Breaks

Taxes in Retirement: How All 50 States Tax Retirees

We rated every state, plus Washington, D.C., on how retirees are taxed. We considered taxes on Social Security and other retirement income, tax exempt…
October 19, 2021
Child Tax Credit Payments Sent October 15
Tax Breaks

Child Tax Credit Payments Sent October 15

The IRS sent another round of monthly child tax credit payments on October 15. Most families received their payment by direct deposit.
October 16, 2021

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Child Tax Credit Payment Opt-Out Deadline is Today
Tax Breaks

Child Tax Credit Payment Opt-Out Deadline is Today

The October deadline for opting out of the monthly child credit payments has arrived. Use the IRS's Child Tax Credit Update Portal to unenroll.
October 4, 2021
Tax Relief Available for Hurricane Ida Victims
Tax Breaks

Tax Relief Available for Hurricane Ida Victims

People and businesses in Louisiana, Mississippi, New Jersey, New York and Pennsylvania impacted by Hurricane Ida get more time to file and pay certain…
October 1, 2021
Tax Relief Available for California Wildfire Victims
Tax Breaks

Tax Relief Available for California Wildfire Victims

Following FEMA's recent disaster declaration, residents and businesses impacted by the California wildfires get more time to file and pay taxes.
September 24, 2021
3 Smart Places to Save Now
Tax Breaks

3 Smart Places to Save Now

Boomers planning on retiring in the next several years should consider these three tax-smart moves now. They can help you cut the taxes you’ll pay on …
September 23, 2021
How and When to Opt-Out of Monthly Child Tax Credit Payments
Tax Breaks

How and When to Opt-Out of Monthly Child Tax Credit Payments

If you want to stop advance payments of the 2021 child tax credit, you have to opt-out using the IRS's online tool before the monthly deadline.
September 22, 2021
How to Change Your Address for Monthly Child Tax Credit Payments
Tax Breaks

How to Change Your Address for Monthly Child Tax Credit Payments

If you're receiving paper checks in the mail for your child tax credit payment, you can use the IRS's online portal to update your address.
September 22, 2021
Child Tax Credit Payment Schedule for the Rest of 2021
Tax Breaks

Child Tax Credit Payment Schedule for the Rest of 2021

The IRS has already sent three batches of monthly child tax credit payments. Here's when you can expect the rest of your payments.
September 16, 2021
COVID-19 Home Test Kits and PPE are Tax Deductible
Tax Breaks

COVID-19 Home Test Kits and PPE are Tax Deductible

You can also pay for home testing kits and personal protective equipment with FSA and HSA funds.
September 11, 2021
Tax Deadlines Extended for Tennessee Flood Victims
Tax Breaks

Tax Deadlines Extended for Tennessee Flood Victims

Residents and businesses impacted by the recent storms and flooding in Tennessee get more time to file and pay certain federal taxes.
August 28, 2021
IRS Extends Tax Deadlines for Louisiana Storm Victims
Tax Breaks

IRS Extends Tax Deadlines for Louisiana Storm Victims

Following FEMA's recent disaster declaration for severe storms and flooding Louisiana, impacted taxpayers get more time to file and pay certain federa…
August 27, 2021
Cash-Rich States Lower Taxes
Tax Breaks

Cash-Rich States Lower Taxes

The economic turnaround sparked a wave of cuts in state tax rates. But some say the efforts could backfire.
August 27, 2021
I Have Shared Custody of My Child: Should I Get Monthly Child Tax Credit Payments?
Tax Breaks

I Have Shared Custody of My Child: Should I Get Monthly Child Tax Credit Payments?

Which parent receives monthly child tax credit payments depends on your most recent tax return. Plus, some parents who are receiving payments should o…
August 21, 2021
2021 Child Tax Credit Calculator
Tax Breaks

2021 Child Tax Credit Calculator

How big will your child tax credit be on your 2021 tax return? How much will you get each month in advance payments? Our calculator will give you the …
August 21, 2021
Should You Be Getting Monthly Payments for Your Kids? Check the IRS's Child Tax Credit Portal
Tax Breaks

Should You Be Getting Monthly Payments for Your Kids? Check the IRS's Child Tax Credit Portal

The IRS has an online tool that will help you track and manage your monthly child tax credit payments (although it's not fully functional yet).
August 20, 2021
Worried About Higher Taxes in Retirement? Strategize Now.
Tax Breaks

Worried About Higher Taxes in Retirement? Strategize Now.

With the Tax Cuts and Jobs Act expiring after 2025, it’s a good time to be proactive about taxes. Here are some smart ideas to consider to put a lid o…
August 17, 2021
Child Tax Credit Payment: Some Parents to Receive Paper Checks Instead of Direct Deposit Payments
Tax Breaks

Child Tax Credit Payment: Some Parents to Receive Paper Checks Instead of Direct Deposit Payments

Families who received their July child tax credit payment by direct deposit might get their August payment by mail.
August 13, 2021
Who's Not Eligible for Child Tax Credit Payments (It May Explain Why You're Not Getting Them)
Tax Breaks

Who's Not Eligible for Child Tax Credit Payments (It May Explain Why You're Not Getting Them)

The IRS has sent two rounds of child tax credit payments so far. Here's why some families haven't received any monthly payments.
August 13, 2021
13 Tax Breaks for Homeowners and Home Buyers
Tax Breaks

13 Tax Breaks for Homeowners and Home Buyers

Owning (or buying) a home is expensive. But at least there are some tax deductions, credits, and exclusions that can help you recoup some of those cos…
August 12, 2021
2 Tax Credits to Claim for Energy-Efficient Home Renovations
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
Tax-Free Weekend Savings on Back-to-School Shopping
Tax Breaks

Tax-Free Weekend Savings on Back-to-School Shopping

Eleven states are holding (or starting) sales tax holidays this weekend. See how you can save big on clothes, notebooks, backpacks, and other back-to-…
August 6, 2021