Not long ago there were widespread warnings that the IRS would be adding thousands of agents and increasing audits. But the new year brought a...
Taxes
All Taxes Articles
Tax Deductions for Scam Victims
Victims of phone and online scams may suffer a double whammy. They lose their money and, because the Tax Cuts and Jobs Act of 2017...
Qualified Business Income Deduction: What You Should Know
The Qualified Business Income deduction (QBI deduction, for short) is a wonderful tax break for people who are self-employed and for small business owners. Also...
Does Your Child Need to File Taxes This Year?
Too young to vote doesn’t necessarily mean too young to file a tax return. In fact, minors who have significant income often are required to...
Taxes for People Who Are New to the US
Most Americans agree that the US tax code is too complicated. It can be even more impenetrable for taxpayers who are new to the country,...
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 2025?
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...
Dr. Allen Sinai’s Economic Forecast for 2025
What’s the outlook for the economy and the two-year-old equity bull market after President Donald Trump’s shocking political comeback and a Republican sweep of Congress? “Firing...
What Is Nontaxable Income?
Who wouldn’t love to avoid paying tax on their income? Well, in some cases, you can. Here’s what you need to know about when you...
Lessons From US Tax Court
Taxpayer alert: After clawing back more than $1 billion in back taxes last year, a more assertive IRS has pledged to raise tax-return audit rates...
Why Is Receiving a Large Tax Refund a Bad Thing?
Did you get a big tax refund last year…or were you left wondering, Why is my federal refund so low? The average tax refund has...
Are Political Donations Tax-Deductible?
Every four years, America holds a Presidential election…and early the following year, many American taxpayers make an unwelcome discovery—the political donations they made to their...
