How to Use a Bonus Tax Calculator for Optimal Federal Tax Withholding?
Discover how to effectively calculate the federal tax withholding on your bonuses with reliable bonus tax calculators and explore strategies to optimize your tax liability.
Mail Call Madness: Deciphering Common Tax Forms You'll Receive
A concise overview of essential tax forms including W-2, 1099, and Schedule K-1, aimed at simplifying tax preparation and reporting.
Understanding Your Taxes: A Guide for Remote and Hybrid Employees
Explore the intricacies of tax obligations for remote and hybrid workers, including deductions, compliance strategies, and the impact of international tax treaties.
15 Surprising Tax Facts That Will Astonish You
Explore the dynamic world of taxes with insights into compliance, unusual laws, and future challenges in taxation.
IRS Form 8863 Updates: A Guide to Claiming Education Tax Credits
Explore the benefits and guidelines of claiming education tax credits with IRS Form 8863, including tips to maximize your credits and enhance financial wellness.
The Essential Guide to Withholding Allowances on Your Form W-4
Discover the crucial aspects of managing Form W-4 withholding allowances to optimize your tax situation, avoid penalties, and maximize benefits.
Decoding the Tax Law: How Your Health Insurance is Affected
Explore how tax laws intersect with health insurance, including deductions for medical expenses, the role of HSAs, and employer-sponsored coverage benefits.
Understanding ABLE Accounts: A Comprehensive Guide
An in-depth guide on ABLE accounts for individuals with disabilities, covering benefits, management strategies, and eligible expenses.
Indiana Earned Income Tax Credit (EITC)
Indiana Earned Income Tax Credit (EITC) is a refundable benefit meant for low-income working individuals and families, so if your tax credit exceeds the amount of taxes you owe, you'll get the difference in cash.
All About the Wash Sale Rule for Deferring Capital Losses
Under the wash-sell rule, a taxable loss incurred from the sale and subsequent purchase of an asset within 30 days is disallowed. Therefore, you should wait 30 days following the selling date to reinvest in the same or similar security. If you're an investor unsure if you comply with the wash-sale rule, you should talk to a tax expert or another certified professional..
Adjust Your W-4 Withholdings
The United States pay-as-you-earn tax system allows taxpayers to deduct federal tax on their pay. Your marital status (and modifications to it) can significantly impact your tax returns.