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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The chances of an IRS audit aren't that high. And being audited does not necessarily imply that the IRS suspects wrongdoing.
The federal government requires deceased individuals to file a final income tax return.
Here are some examples of deductions from the IRS that were permitted and some that were, uh, too creative.
Check out this handy reference of updated ranges from the IRS in case your designated bracket has changed.
An inside look at how marginal income tax brackets work.
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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.
Use this calculator to estimate your capital gains tax.
Assess how many days you'll work to pay your federal tax liability.
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Estimate how much of your Social Security benefit may be considered taxable.