Understanding tax strategies and managing your tax bill should be part of any sound financial approach. Some taxes can be deferred, and others can be managed through tax-efficient investing. With careful and consistent preparation, you may be able to manage the impact of taxes on your financial efforts.
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When you take the time to learn more about how it works, you may be able to put the tax code to work for you.
You may have heard the phrase "tax-loss harvesting." A financial professional may be able to provide some guidance.
Here are six flags that may make your tax return prime for an IRS audit.
Here are some examples of deductions from the IRS that were permitted and some that were, uh, too creative.
Five overlooked tax deductions to help manage your tax bill.
The chances of an IRS audit aren't that high. And being audited does not necessarily imply that the IRS suspects wrongdoing.
Estimate how much of your Social Security benefit may be considered taxable.
Use this calculator to estimate your capital gains tax.
Assess how many days you'll work to pay your federal tax liability.
Use this calculator to assess the potential benefits of a home mortgage deduction.
Use this calculator to estimate your income tax liability along with average and marginal tax rates.
This calculator compares the net gain of a taxable investment versus a tax-favored one.