Tag: Individual Tax

The end of the year is quickly approaching, which means the holidays are upon us! As many people consider their gifts to loved ones and their favorite charities in terms

You may be wondering how the interest you earn is taxed on your savings bonds. Many have purchased or gifted savings bonds that they don’t know what to do with.

Two tax benefits are available to offset the expenses of adopting a child. In 2022, adoptive parents may be able to claim a credit against their federal tax for up

The Internal Revenue Service has released the tax year 2023 annual inflation adjustments for dozens of tax provisions, including the tax rate schedules and other tax changes. Here are some

The IRS announced that the amount individuals can contribute to their 401(k) plans in 2023 has increased to $22,500, up from $20,500 for 2022. This also applies to 403(b), most

The effects of inflation are all around. You’re probably paying more for gas, food, health care, and other expenses than you were last year. Are you wondering how high inflation

You’ve probably heard of the “nanny tax.”  Even if you don’t employ a nanny, it may apply to you. Hiring a house cleaner, gardener, or other household employee (who isn’t

Are you feeling generous at year end? Taxpayers can transfer substantial amounts free of gift taxes to their children or other recipients each year through the proper use of the

If you’re interested in investing in tax-free municipal bonds, you may wonder if they’re really free of taxes. While the investment generally provides tax-free interest on the federal (and possibly

If you have a child or grandchild who’s going to attend college in the future, you’ve probably heard about qualified tuition programs, also known as 529 plans. These plans, named