Taxes

If you plan on selling investments this tax year or in the future, it’s time to get acquainted with cost basis. But what is cost basis, why does the Internal Revenue Service (IRS) care about it, and how does it affect your income tax return? Let’s break it down together by looking at some frequently

Gov. Moore Proposes Major Tax Changes Amid Budget Deficits Skip to content Home • Blog • Governor Moore Proposes Major Tax Changes in Maryland to Address Chronic Budget Deficits Facing a projected $3 billion budget deficit in fiscal year 2026, with forecasts of a growing gap over the next five years, Governor Wes Moore (D)

Updated for tax year 2024. Get ready to mark these important dates on your calendar. Here are the most important tax deadlines and due dates for taxpayers in 2025 — and answers to some common tax questions. Key tax deadlines What are the tax deadlines for 2025? Depending on your tax situation and what kind

Unsustainable US Debt and Impacts of Potential Tax Changes Skip to content Table of Contents Note: “The Sustainability of U.S. Debt and Potential Reforms: Fiscal Rules, Spending and Taxes, and a Fiscal Commission,” which has been published in final form in Public Budgeting & Finance at https://doi.org/10.1111/pbaf.12381. This article may be used for non-commercial purposes

Updated for tax year 2024. Most people don’t get into charitable giving purely for a tax benefit. However, the opportunity for tax savings is a nice perk for those who give back! If you itemize deductions on your federal tax return, the IRS permits you to deduct the cash value of any contributions or donations

Ready to DIY your taxes with TaxAct®? Before you begin, let’s review the information you’ll need to file your income tax return with us. We’ll also give you some tips to help ensure you have a smooth, positive experience. Tip 1: Have all your information handy. Before you start filing your income tax return, knowing

The IRS is expected to officially kick off the 2024 tax season around Jan. 27, 2025, which would make this the first day the agency begins accepting both e-filed and paper income tax returns. However, if you want to get an early start on tax filing, you can complete your income tax return with us

McBride: Congress Must Simplify Tax Code | Op-Ed Skip to content Home • Op-eds • New Poll Shows Americans Think Tax Code Is Too Complex. This Year’s Tax Debate Should Fix That. President-elect Trump and the incoming Republican Congress already have a big agenda set for them this year, as the 2017 Trump taxA tax

Updated for tax year 2024. Here’s an updated look at what the IRS considers qualified expenses for education credits in 2023 and what other tax breaks are available for those investing in higher education. What education tax credits are available for college students? There are currently two higher education tax credits for students: the American

The moving companies’ datasets, while less robust than Census data—and undoubtedly influenced by these companies’ geographic coverage and relative market shares—show similar overall migration patterns. Unlike the Census data in the map above, which show the extent to which each state’s population grew or shrunk due to domestic net migration, the moving companies’ datasets show

Updated for tax year 2024. If you have to travel as part of being self-employed, you know traveling costs can add up fast. Fortunately, there are a few tax breaks available for deducting travel expenses. Follow this quick guide to learn how to lower your tax bill with business travel deductions. Business mileage vs. business

Updated for tax year 2024. If you’re self-employed and have many different business activities or side hustles, it can be confusing to know how to report them all on your taxes. There are certain rules you need to follow, like grouping similar activities together and keeping different ones separate. Let’s take a closer look at