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What Is Taxable Income?
As you know, U.S. citizens are subject to taxes based on their annual income. There are, however, distinct definitions of what “income” is under federal...
How Do I File Back Tax Returns?
How To File Back Tax Returns Key points in this article: Filing back taxes requires you to use all applicable IRS forms used on their...
Is Social Security Taxed After Age 70?
Do You Stop Paying Taxes On Social Security At Any Age? Article summary: Social Security benefits becoming non-taxable after you turn 70 is a myth. ...
What Happens If You Don’t File Taxes (And 4 Common Excuses)
Here’s What Happens If You Don’t File Taxes Article summary: Failure to file your taxes will have you penalized by the IRS. The penalties can...
Is It Worth Claiming Medical Expenses On Your Taxes?
Medical Expense Deduction: A Complete Guide Key points in this article: You are allowed by the IRS to deduct any qualifying out-of-pocket medical and dental...
Powerball After Taxes: How Much Will The IRS Take?
Lottery Winnings After Taxes: How Much Do You Have To Pay? Key points in this article: The federal government taxes all lottery prizes over $5,000...
Understanding The EITC: Who Gets Earned Income Credit?
Understanding The EITC: Who Gets Earned Income Credit? Key points in this article: The Earned Income Tax Credit (ETIC) is a refundable tax break created...
Short-Term Capital Gains Tax: A Quick Guide
A Quick Guide To The Short-Term Capital Gains Tax Key points in this article: Capital gain refers to the increased value of a capital asset...
