The term tax write-off is another way of saying “tax deduction.” The phrase typically is used to refer to self-employment and small-business–related tax deductions, though...
Taxes
All Taxes Articles
States with the Most—and Least—Property Taxes
Property taxes have been increasing in recent years—the average annual bill now is close to $3,000. That $3,000 figure no doubt seems surprisingly low to...
Is Overtime Pay Taxed More?
You may have heard that the tax rules regarding overtime pay are changing—but taxation of overtime earnings is not ending entirely. Historically, overtime pay has...
What Is OASDI Tax?
You may have noticed the acronym OASDI on your paycheck—especially when you realize that it is taking a big chunk out of your earnings. But...
New Rules on Charitable Giving Tax Deductions
Thinking about donating to your favorite charities? The recently passed tax legislation, known as the One Big Beautiful Bill Act (OBBBA), provides an added incentive—you...
Tax Deductions 2025: Don’t Overlook These Write-Offs
Whether you take the standard deduction or itemize for the 2021 tax year, here’s what deductions you can take, including what has changed.
Tax Planning for 2025
The 2024 tax filing season is over, and now is the time to think about 2025 tax planning—there are two months left to give the...
Gift Tax Rules: How to Gift Money to Family
A married couple helps their adult child make a downpayment on his first home. A woman pays her aging mother’s hospital bills. An older couple...
What Is a Wash Sale?
Some investors looking to claim portfolio losses on their taxes may be unaware of the wash sale rule. To find out what a wash sale...
How Much Is Capital Gains Tax? What You Should Know
If you sell an asset at a profit, you’ve generated a capital gain. Does that mean you will owe the IRS capital gains taxes on...
What Are the Different Tax Brackets for 2026?
Federal income tax rates haven’t changed dramatically for the better part of a decade—they’ve ranged from 10% up to 37% since 2018. But while rates...
Are Home Improvements Tax-Deductible?
Homeowners are expected to spend $526 billion this year on upgrades to their homes. Given the steep cost of renovating an unfinished attic space or...
