Personal Finance

This channel is where we explore the holistic health of your financial house. Helpful, accurate articles include topics on credit, debt management, financial planning, real estate and taxes.

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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.

By Chris Opfer

The tax man takes mercy -- well, a little bit of mercy -- on struggling college kids, their parents and a whole bunch of other folks who just want to keep learning through tuition tax credits.

By Chris Opfer

There are a few things worse than filing taxes. Like filing taxes after losing your job. The good news is that there may be a few ways to reduce what you owe the tax man.

By Chris Opfer

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If you work for someone and you've paid taxes, you've seen a W-2. That's the form your employer gives you in January to show how much you earned the previous year. Why is it so important?

By Chris Opfer

Running your own business can cost a lot of money, but there some 30 business tax credits out there that can help to lower your IRS burden and put more cash in your pocket. Which ones do you qualify for?

By Alia Hoyt

Owning your own bakery, writing service or contracting business might be a dream come true. But along with that dream comes the responsibility of paying all the taxes yourself. What does the IRS expect from you and when?

By Dave Roos

Home ownership is expensive, but the IRS does provide you with a break on your property taxes -- if you're eligible, of course.

By Debra Ronca

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When your company handbook talks about an employee being "exempt" or "nonexempt," it has nothing to do with taxes. It's language from the Fair Labor Standards Act -- the same one that prohibits child labor. Say what?

By Kate Kershner

Single people taking care of children or elderly parents can get a better tax break than other singles by filing as head of household. But choosing who's head of the household isn't like a game of duck, duck, goose. The definition is pretty strict.

By Kate Kershner

Should you be sidelined for a while due to illness or accident, you may be eligible for disability payments. But come April, what do you need to know about the taxes on this income? We'll address some common situations you may find yourself in.

By Kate Kershner

Gone are the days of doing your taxes by hand -- thank goodness for the Internet, right? E-filing streamlines the process and gets your refund to you faster.

By Debra Ronca

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You can find relief while doing your taxes by claiming exemptions and deductions. And if you own your own home, the mortgage interest tax deduction can be a big help.

By Debra Ronca

Your adjusted gross income is your taxable income after taking deductions and credits. But sometimes that AGI has to be modified into a -- you guessed it -- MAGI.

By Debra Ronca

If you suffer what the IRS calls "theft and casualty losses" and insurance doesn't cover them, you may be able to claim a deduction on your taxes.

By Debra Ronca

If you get tips as part of your wages, a lot of customers on your shift can mean a good amount of extra money in your pocket. It also means that the IRS wants its cut.

By Debra Ronca

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Lending money to friends and family can be tricky -- especially if they don't pay you back. The good news is that you may be able to take a tax deduction for the bad debt.

By Debra Ronca

While the word "provision" can sound like something you're provided for free, when it comes to the Affordable Care Act, it's more of a responsibility.

By Kate Kershner

If you've had costly medical bills, there's a good chance you can deduct some portion of them. Ready to find out how?

By Ed Grabianowski

Losing a parent is a harrowing experience, but being financially lost when it happens only makes matters worse. Find out how to navigate the waters of loss without finding yourself on a sinking fiscal ship.

By Maria Trimarchi

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Depreciation can be a huge tax advantage for small business owners, if you use the IRS depreciation tables correctly. There nine depreciation categories, ranging from three to 25 years and every type of property fits into one.

By Dave Roos

Paying less taxes is all about taking as many deductions and credits as you legally can. But how do you know what's out there and which ones you might qualify for?

By Alia Hoyt

One of the more controversial aspects of the Affordable Care Act is the mandate that everyone have health insurance or pay a penalty. However, certain people are exempt from this requirement. Who are they, and how do they prove their exemption?

By Dave Roos

Here's a handy checklist to help you gather all the documents you need to do your taxes and get the biggest refund you can!

By Alia Hoyt

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Most companies offer their employees a 401(k); about half also offer a Roth 401(k) though not many employees use it. But in some cases, a Roth 401(k) might be the better option for you.

By Melanie Radzicki McManus

"Injured spouse status" sounds terrible, but it actually could be a good thing when it comes to paying taxes to the IRS. Learn what this tax status means for your debt and whether you qualify for relief.

By Melissa Phipps