Personal Income Taxes

Taxes are inevitable, but if you are educated, you can soften their impact. Learn about tax and money organization, income taxes and other topics in the Taxes channel.


Applying for a federal tax ID number couldn't be simpler. All you need is a computer, a telephone or access to a post office.

You might be perfectly fine changing your own oil or sewing your own living room curtains. But what about your taxes? Should that be another DIY project, or should you look for a professional?

This might be the scariest phrase in the English language: tax audit. But not every missive you receive from the IRS is going to be bad news.

Losing your job is extremely tough financially, even with unemployment benefits. Don't get surprised come tax time.

Sometimes called the Fair Tax, a consumption-based tax is often touted as the answer to the country's tax problems. But could it work?

Got your W-2 forms? Check. Your handy calculator? Check. Your favorite tax-prep thinking cap? Check. Don't start crunching numbers just yet. First, check out these essential tax preparation tips.

Fun fact: It's possible to be both a U.S. resident alien and a U.S. nonresident alien in the same year. Not-so-fun fact: That makes paying U.S. taxes more complicated. If this is you, check out these 10 tax tips.

Everything gets murky for separated couples, especially at tax time. If you're in this confusing phase of life, have a look at these 10 tax tips to remember when filing your income taxes.

Modern life can be complicated, particularly at tax time, and especially if you live in one state and work in another. If that's you, here are 10 tax tips to remember when filing.

Adopting a child can be extremely expensive. But as newly adoptive parents you're now eligible for certain federal tax credits. Read on to find out how to file.

Despite assumptions to the contrary, members of the clergy don't have it easy when it comes to taxes. So what are the complex ins and outs of getting taxed as a religious leader?

Confused about why your bi-weekly paycheck is less than your actual salary? It's actually pretty simple. We'll show you how to figure out your "bring-home" pay.

Being a single parent can be tough, but at tax time, the government can actually help ease the burden. Here are 10 ways Uncle Sam can help.

Tax day is one day of the year most of us dread. So how can you get your tax bill as low as possible? Making sure all possible deductions are applied to your gross income is one way.

The federal government now recognizes same-sex marriages across the United States. As you and your spouse get ready to send in your tax return, these 10 same-sex marriage tax tips keep in mind.

Nobody wants to file taxes. But you're actually good at it and don't mind crunching numbers. You're no accountant -- but you help a friend file?

As a first-time homebuyer, you took advantage of some federal credits back in the late 2000s. The laws on how to pay those back have changed -- are you up to speed on the new requirements?

Instead of blithely ignoring retirement plans, you're getting smart this year and contributing to an IRA. How exactly will that move help your taxes?

Aside from committing income tax fraud, you'd pretty much do anything to pay less in annual taxes. The good news is there are plenty of ways to reduce your debt to Uncle Sam come April (and all of them are perfectly legal).

The Affordable Care Act comes with tax repercussions. The additional Medicare tax is one of them. Here's what it's meant to do -- and what it means for you.

Named after Sen. Paul Coverdell, this education savings account allows your money to grow tax-free and be distributed tax-free as well. So how do take advantage of this double blessing?

As the year ends, many businesses are not popping Champagne. They're trying to figure what to do in order to reduce their tax liability for next year. Are there any sure-fire (legal) methods to do this?

If you're a small business owner or self-employed, listen up: An S corp might be a better way to go than an LLC or sole proprietorship when it comes to taxes. Here's what you need to know.

The standard deduction can be pretty sweet. Single people in 2014 can get $9,100, while married and filing jointly will net $12,400. The standard deduction isn't for everyone, though -- and it does affect what you might like to itemize.

Your company requires you to use your personal vehicle for work-related purposes. Can you really write off the car on your taxes?