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...
Taxes
All Taxes Articles
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...
Tax Deductions for Scam Victims
Victims of phone and online scams may get a small but welcome break. While the One Big Beautiful Bill Act (OBBBA) changed a lot of...
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...
What Medical Expenses Are Not Tax-Deductible?
Are medical bills tax-deductible? Is dental work tax-deductible? The answer to both questions is yes…sometimes. Before you take any medical expense deduction, there are some...
What Does Head of Household Mean on Taxes?
“Head of household” is a tax filing status for single taxpayers who have dependents. But as so often is the case with tax matters, it’s...
What Is Backup Withholding?
If your broker sent you a dividend or interest check, but the amount you received is 24% lower than expected, then “backup withholding” likely is...
Estimated Tax Penalties: What You Need to Know
Most people don’t worry about paying federal income taxes for the year until they are preparing their returns the following spring. That’s because their employers...
Are You at Risk for an IRS Audit?
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...
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...
