Tax Breaks
Which States' Taxes Are Going Down
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
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
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?
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
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
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5 States With No State Sales Tax
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
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?
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
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)
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
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
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
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
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
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?
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
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
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 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
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
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
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?
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 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
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
"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