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.


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Clergy Tax Guide

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?

How to Calculate Net Income

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.

10 Tax Credits for Single Parents

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.

How to Calculate Adjusted Gross Income

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.

10 Same-sex Marriage Tax Filing Tips

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.

Can I File Someone Else's Taxes?

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?

How much do IRA contributions reduce taxes?

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?

What can you do to save on income tax payments?

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).

Why is there additional Medicare tax?

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.

Coverdell ESA Form Explained

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?

How Year-end Business Taxes Work

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?

What are the tax rates for an S corporation?

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.

Do you get the standard deduction if you itemize?

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.

What are some common vehicle tax deductions?

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

2014 Tax Brackets

When it comes to tax brackets, the numbers change a little every year. But if you jump from one bracket to another, your tax return can change dramatically.

How are taxes affected if you move to a different state during the year?

You moved from one state to another last year, and now it's tax time. Don't freak out. Paying income taxes in two states is actually a pretty simple process, if you know all of the IRS rules.

Is there an app to monitor your IRS refund status?

In 2012, more than 80 percent of tax returns resulted in cash back from the government. Those are pretty good odds. But refunds aren't instant. Here's how to track yours -- and here are a few tips on getting it faster.

How Discretionary Income Works

Discretionary income is simply the money you have but don't need to spend. But it's not just about you: Discretionary income is also used to monitor the larger economy.

How Foreign Tax Credits Work

Did you make money outside of the U.S. this year? If so, here's a way you may be able to reduce your tax burden.

How Estimated Tax Payments Work

Everyone knows taxes are due on April 15. Unless, of course, you have to pay them early. Here's a guide to estimated tax payments.

How Nonemployee Compensation Works

If you're contracted to work for a company, the money you receive is called "nonemployee compensation." You might just call it cash. Why does the name matter?

How the American Opportunity Tax Credit Works

This tax credit, along with the lifetime learning credit, pays you back for going to school. How do you claim the American opportunity tax credit?

How Corporate Income Tax Works

Companies are supposed to pay taxes on their income, sort of like everyone else. But many underpay through tricky maneuvers. Some critics say maybe the answer is just to abolish corporate taxes.

How the Child Tax Credit Works

Have a kid, save some money on taxes. Sounds simple, doesn't it? Though the amount of the child tax credit is not enough to offset child-rearing costs, every bit helps.

How the Lifetime Learning Credit Works

For those who aren't math majors, we'll make the explanation of the lifetime learning credit quick and easy. It covers 20 percent of up to $10,000 in tuition and other costs – that converts to $2,000.