Tax Breaks
2021 Child Tax Credit Calculator
2021 Child Tax Credit Calculator
See how much money you would get in advance if President Biden's $3,000-per-child tax credit plan is enacted (it was just passed by the Senate).
March 6, 2021
What's the Standard Deduction for 2020 vs. 2021?
What's the Standard Deduction for 2020 vs. 2021?
If you're like most Americans, taking the standard deduction on your tax return is better than claiming itemized deductions.
March 5, 2021
Claim These "Above-the-Line" Deductions on Your Tax Return (Even If You Don't Itemize)
Claim These "Above-the-Line" Deductions on Your Tax Return (Even If You Don't Itemize)
If, like most people, you claim the standard deduction instead of itemized deductions on your return, there are still many other tax deductions availa…
March 5, 2021
IRS Extends April 15 and Other Tax Deadlines for Texas and Oklahoma Residents
IRS Extends April 15 and Other Tax Deadlines for Texas and Oklahoma Residents
Following FEMA's recent disaster declaration for winter storms in Texas and Oklahoma, victims of the recent winter storms in those states get more tim…
February 28, 2021
Your Guide to Roth ConversionsSpecial Report
Special ReportYour Guide to Roth Conversions
A Kiplinger Special Report
February 25, 2021
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Taxes in Retirement: How All 50 States Tax Retirees
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 exempti…
February 23, 2021
What's the Recovery Rebate Credit?
What's the Recovery Rebate Credit?
If you didn't get a stimulus check, or you didn't get the full amount, you may be able to claim the recovery rebate credit on your 2020 tax return to …
February 17, 2021
Why Pay Money to File Your Taxes?
Why Pay Money to File Your Taxes?
Far more people could be filing their federal returns for free; maybe even their state taxes. Also, the latest from Brandon Copeland and the not-so-se…
February 17, 2021
Can You Claim the Home Office Deduction on Your 2020 Tax Return?
Can You Claim the Home Office Deduction on Your 2020 Tax Return?
People working from home because of the pandemic are wondering if they can get a tax deduction out of it. It depends on your employment status.
February 11, 2021
Teachers Can Deduct COVID-Prevention Supplies on Their Tax Return
Teachers Can Deduct COVID-Prevention Supplies on Their Tax Return
Eligible educators can write off expenses for COVID-19 protective items that help stop the spread of the virus in the classroom.
February 4, 2021
Mitt Romney's Higher Child Tax Credit Comes With a Twist
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
Handling Taxes and Insurance When Working from “Home”
Handling Taxes and Insurance When Working from “Home”
Working remotely in a new state, maybe even a new country? That can lead to complications, particularly when it comes to taxes. Also: why the IRS is s…
February 2, 2021
The Recovery Rebate Credit: Get Your Full Stimulus Check Payment With This Tax Credit
The Recovery Rebate Credit: Get Your Full Stimulus Check Payment With This Tax Credit
If you didn't get a stimulus check, or you didn't get the full amount, you may be able to claim the recovery rebate credit on your 2020 tax return to …
January 30, 2021
18 Believe It or Not 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
There's Still Time to Save on 2020 Taxes
There's Still Time to Save on 2020 Taxes
The tax code didn’t change last year, but just about everything else did. We’ll guide you to a lower tax bill.
January 27, 2021
Biden's Stimulus Plan Includes $3,000 Child Tax Credits
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
Kiplinger’s Best Values in Tax Software, 2021
Kiplinger’s Best Values in Tax Software, 2021
We ranked the most popular tax-prep packages to help you find the ones that provide the best experience at the lowest cost.
January 27, 2021
17 Nice-Try Tax Breaks Rejected by the IRS
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
Taxes on Retirees — What’s New?
Taxes on Retirees — What’s New?
In this episode of Your Money's Worth, senior tax editor Rocky Mengle talks about the latest update of the Kiplinger Retiree Tax Map. Will states with…
January 26, 2021
10 States With the Highest Sales Taxes
10 States With the Highest Sales Taxes
Before you embark on a shopping spree in any of the 10 worst states for sales taxes, make extra room in your budget.
January 25, 2021
9 States with No Income Tax
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 two of the states do tax some dividends and intere…
January 25, 2021
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…
January 25, 2021
Biden Extends Student Loan Relief, Is Loan Forgiveness Next?
Biden Extends Student Loan Relief, Is Loan Forgiveness Next?
On his first day as president, Joe Biden continued the suspension of student loan payments until October.
January 22, 2021
20 Most-Overlooked Tax Breaks and Deductions
20 Most-Overlooked Tax Breaks and Deductions
Don't miss these frequently overlooked tax deductions, credits and exemptions. Otherwise, you're just pouring money down the drain.
January 14, 2021
Fund Your IRA, Cut Your Taxes
Fund Your IRA, Cut Your Taxes
There’s still time to make a 2020 IRA contribution and lower your tax bill.
January 13, 2021