tax planning
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
Taxes on Unemployment Benefits: A State-by-State Guide
Taxes on Unemployment Benefits: A State-by-State Guide
Don't be surprised by an unexpected tax bill on your unemployment benefits. Know where unemployment compensation is taxable and where it isn't.
March 3, 2021
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 House and is n…
February 27, 2021
House Approves $3,000 Child Tax Credit for 2021
House Approves $3,000 Child Tax Credit for 2021
The proposal would temporarily increase the child tax credit to $3,000 or $3,600 per child for most families and have 50% of it paid in advance by the…
February 27, 2021
Smart Ways to Cut Your Utility Bills
Smart Ways to Cut Your Utility Bills
Tax breaks and potentially lower home energy costs make these green projects worth a look.
February 24, 2021
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5 Strategies for Tax Planning Now and in Retirement
5 Strategies for Tax Planning Now and in Retirement
Tax planning is one of the best things you can do to keep more money in your pocket in retirement. There are specific things to consider when planning…
February 18, 2021
The Biden Stimulus Plan: Push for a Higher Child Tax Credit Continues
The Biden Stimulus Plan: Push for a Higher Child Tax Credit Continues
The proposal currently on the table would increase the child tax credit to $3,000 or $3,600 per child and have the IRS pay 50% of it in advance.
February 16, 2021
10 States With the Lowest Gas Taxes
10 States With the Lowest Gas Taxes
Saving money is a marathon not a sprint. And even low gas taxes can help keep money in your pocket.
February 12, 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
10 States with the Highest Gas Taxes
10 States with the Highest Gas Taxes
COVID-19 has made us appreciate driving our cars more, but filling up the tank will cost you more in these state.
February 9, 2021
How 10 Types of Retirement Income Get Taxed
How 10 Types of Retirement Income Get Taxed
When you're planning for retirement, it's fun to contemplate all the travel and rounds of golf ahead of you, but don’t forget about taxes.
February 9, 2021
House Democrats Propose Monthly Payments of Up to $300 Per Child
House Democrats Propose Monthly Payments of Up to $300 Per Child
A bill in Congress would increase the child tax credit and have 50% of it paid in advance by the IRS from July through December.
February 9, 2021
Tax Changes and Key Amounts for the 2020 Tax Year
Tax Changes and Key Amounts for the 2020 Tax Year
There were a lot of tax changes for the 2020 tax year. Get familiar with them now – before you file your 2020 tax return.
February 8, 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
President Biden's Tax Plans for the Next Few Years
President Biden's Tax Plans for the Next Few Years
With control of both the House and Senate in Democratic hands, President Biden will be able to get more of his tax policy proposals through Congress. …
February 3, 2021
8 Tax Tips for Gambling Winnings and Losses
8 Tax Tips for Gambling Winnings and Losses
Whether you're betting on Tom Brady or Patrick Mahomes to win this year's Super Bowl, don't let the IRS beat you at tax time.
February 3, 2021
Republican Senators' Plan Drops the $3,000 or $3,600 Child Credit
Republican Senators' Plan Drops the $3,000 or $3,600 Child Credit
A plan by 10 moderate GOP Senators omits Biden's proposal for a higher temporary child tax credit.
February 2, 2021
How to Possibly Pay 0% in Taxes on Your Taxable Investment Gains
How to Possibly Pay 0% in Taxes on Your Taxable Investment Gains
Don’t miss out: Certain people with low enough taxable income can sell stocks or mutual funds to convert their taxable gains into tax-free money. Here…
February 2, 2021
What the Democrats' Agenda Will Mean for Your Pocketbook
What the Democrats' Agenda Will Mean for Your Pocketbook
With President Joe Biden in the White House and a narrow Democratic majority in the Senate and House of Representatives, Democrats have a clearer path…
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
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
5 Ways to Prepare for Higher Taxes Under President Biden
5 Ways to Prepare for Higher Taxes Under President Biden
Will you be affected by tax changes in the future? Growing national debt, changes in Washington, and new policies on the horizon could impact you more…
January 25, 2021