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.
Have you explored all your options when it comes to managing your taxable income?
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Here are six flags that may make your tax return prime for an IRS audit.
1035 exchanges provide a way to trade-in an annuity contract or life insurance policy without triggering a tax liability.
The chances of an IRS audit aren't that high. And being audited does not necessarily imply that the IRS suspects wrongdoing.
Here are some examples of deductions from the IRS that were permitted and some that were, uh, too creative.
When your child has income, there’s a good chance that he or she will need to report it and pay taxes.
An inside look at how marginal income tax brackets work.
Assess how many days you'll work to pay your federal tax liability.
Use this calculator to estimate your capital gains tax.
This calculator compares the net gain of a taxable investment versus a tax-favored one.
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Estimate how much of your Social Security benefit may be considered taxable.
Use this calculator to assess the potential benefits of a home mortgage deduction.