Tax Breaks

Which States' Taxes Are Going Down
Tax Breaks

Which States' Taxes Are Going Down

State lawmakers are cutting income, sales and property taxes to return budget surpluses to residents.
May 25, 2022
Charitable Tax Deductions: An Additional Reward for the Gift of Giving
Tax Breaks

Charitable Tax Deductions: An Additional Reward for the Gift of Giving

With a charitable tax deduction, you can donate to a good cause and cut your tax bill at the same time.
May 19, 2022
No Tax for Donating Leave to Ukraine Victims
Tax Breaks

No Tax for Donating Leave to Ukraine Victims

Vacation, sick, or personal leave donated to help victims of the Russian invasion of Ukraine won't be treated as taxable income.
May 19, 2022
Will a Gas Tax Holiday or Suspension Lower Gas Prices Near You?
Tax Breaks

Will a Gas Tax Holiday or Suspension Lower Gas Prices Near You?

One way to bring down the price of gasoline is to establish a gas tax holiday. But will Uncle Sam, or your state government, suspend the gas taxes tha…
May 18, 2022
9 States with No Income Tax
Tax Breaks

9 States with No Income Tax

Your hard-earned money is safe from state income tax if you live in one of these states…but watch out for other state and local taxes.
May 17, 2022

Subscribe to Kiplinger's Personal Finance

Be a smarter, better informed investor.
5 States With No State Sales Tax
Tax Breaks

5 States With No State Sales Tax

A handful of states don't impose a sales tax, but that doesn't necessarily make them the best states for low taxes.
May 16, 2022
New Mexico Wildfire and Wind Victims Get More Time to Pay Taxes
Tax Breaks

New Mexico Wildfire and Wind Victims Get More Time to Pay Taxes

Certain tax filing and payment deadlines are extended for residents and businesses impacted by the recent wildfires and straight-line winds in New Mex…
May 13, 2022
What's the Standard Deduction for 2022 vs. 2021?
Tax Breaks

What's the Standard Deduction for 2022 vs. 2021?

If you're planning ahead for next year's tax return, see if your 2022 standard deduction will be higher than it was for 2021.
April 28, 2022
7 Money-Smart Ways to Spend Your Tax Refund
Tax Breaks

7 Money-Smart Ways to Spend Your Tax Refund

Nearly 60% of taxpayers expect a refund this year, and many will receive a larger amount.
April 22, 2022
Top Off Your HSA Today and Lower Your Tax Bill (While There's Still Time)
Tax Breaks

Top Off Your HSA Today and Lower Your Tax Bill (While There's Still Time)

If you haven't already contributed the full amount to your HSA for 2021, today is the last day to do so and reduce your taxes at the same time.
April 18, 2022
Child Tax Credit FAQs for Your 2021 Tax Return
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
Stimulus Check Money is Still Available…But You Must File a Tax Return to Get It
Tax Breaks

Stimulus Check Money is Still Available…But You Must File a Tax Return to Get It

If you didn't get a third stimulus check last year – or you didn't get the full amount – you may be able to cash in when you file your tax return this…
April 14, 2022
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…
April 12, 2022
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…
April 6, 2022
There's Still Time to Contribute to Your IRA and Cut Your Taxes
Tax Breaks

There's Still Time to Contribute to Your IRA and Cut Your Taxes

Although you need to act quickly, you still have time to make a 2021 IRA contribution and lower your tax bill.
April 6, 2022
Will You Have to Pay Back Your Child Tax Credit Payments?
Tax Breaks

Will You Have to Pay Back Your Child Tax Credit Payments?

If you got too much in monthly child tax credit payments last year, you might have to repay some (or all) of the money when you file your tax return t…
April 5, 2022
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? Our calculator will give you the answer.
April 5, 2022
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 the District of Columbia, on how retirees are taxed. Some of the results might surprise you.
April 4, 2022
Tax Deadlines Extended for Puerto Rico Storm Victims
Tax Breaks

Tax Deadlines Extended for Puerto Rico Storm Victims

Certain tax filing and payment deadlines are extended for people impacted by the Puerto Rico storms, flooding and landslides in February.
April 1, 2022
11 Reasons to File a Tax Return Even If You Don't Have To
tax filing

11 Reasons to File a Tax Return Even If You Don't Have To

Although you might not be required to file a tax return, it might be wise to file one anyway. Here are a few reasons why.
March 29, 2022
Maryland Suspends Gas Tax to Offset Inflation at the Pump
Tax Breaks

Maryland Suspends Gas Tax to Offset Inflation at the Pump

The gas tax holiday will save Maryland drivers about 36 cents per gallon for gasoline and roughly 37 cents per gallon for diesel fuel.
March 18, 2022
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…
March 12, 2022
What's the Recovery Rebate Credit?
Tax Breaks

What's the Recovery Rebate Credit?

If you didn't get a third stimulus check, or you didn't get the full amount, you may be able to claim the recovery rebate credit on your 2021 tax retu…
February 17, 2022
Tax Deadlines Extended for Victims of Recent Storms, Flooding and Related Disasters in Washington
Tax Breaks

Tax Deadlines Extended for Victims of Recent Storms, Flooding and Related Disasters in Washington

FEMA's recent disaster declaration opens door for extended federal tax filing and payment deadlines for victims of the November storms, flooding, land…
February 14, 2022
How Snowbirds Can Be Taxed as Florida Residents
retirement

How Snowbirds Can Be Taxed as Florida Residents

If you're wintering in Florida but live in a high-tax state up north during the summer months, you can save a lot of money by establishing permanent r…
February 10, 2022
"Above-the-Line" Deductions for Your 2021 Tax Return
Tax Breaks

"Above-the-Line" Deductions for Your 2021 Tax Return

If, like most people, you claim the standard deduction instead of itemized deductions on your return, there are still many other tax deductions availa…
February 1, 2022