Income Taxes
What Is Taxable Income?
[video width="1280" height="720" mp4="https://www.irs.com/wp-content/uploads/2021/12/Understanding_Taxable_Income_Guide.mp4"][/video] As you know, U.S. citizens are subject to taxes based on their annual income. There are, however, distinct definitions of…
Powerball After Taxes: How Much Will The IRS Take?
[video width="1280" height="720" mp4="https://www.irs.com/wp-content/uploads/2025/03/powerball.mp4"][/video] You know how it goes, one person becomes a millionaire overnight, and the rest of America turns into financial analysts.…
How Are Bonuses Taxed? A Quick Explanation
[video width="1280" height="720" mp4="https://www.irs.com/wp-content/uploads/2021/12/Understanding_Bonus_Taxation.mp4"][/video] How are bonuses taxed? It's a valid question since, after a year’s worth of hard work helping your company meet…
Do You Have to Pay Taxes? Yes, You Do. And Not Just Because the Law Says So.
Sure, paying taxes doesn't feel patriotic. But it is. Yes, you do have to pay taxes. The law mandates the payment of federal income taxes…
Minor Question: Are Minors Exempt From Tax Withholding?
[video width="1280" height="720" mp4="https://www.irs.com/wp-content/uploads/2025/03/Minors_and_Tax_Filing_Explained.mp4"][/video] If minors don't get taxes taken out, can I be 18 again? Yes, if a dependent child earns income, they will…
Combat Pay: When It’s Tax-free, When It’s Not and What the IRS Needs to Know for Your Tax Returns
The irony of tax-free pay is how much paperwork is involved. Combat pay is a special type of income that is granted to military personnel…
File a Business Tax Extension Online
Business Taxes Are Due Tuesday, March 15, 2016 The IRS allows both individuals and businesses to file for a tax extension, which gives you…
How to Find Your Marginal Tax Rate in 2025
[video width="1280" height="720" mp4="https://www.irs.com/wp-content/uploads/2025/03/Understanding_2025_Tax_Rates.mp4"][/video] The marginal tax rate is what you pay on your highest dollar of taxable income. You’ve probably heard (and used)…
