Understanding tax strategies and managing your tax bill should be part of any sound financial approach. Some taxes can be deferred, and others can be managed through tax-efficient investing. With careful and consistent preparation, you may be able to manage the impact of taxes on your financial efforts.
Have you explored all your options when it comes to managing your taxable income?
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Here are some examples of deductions from the IRS that were permitted and some that were, uh, too creative.
When your child has income, there’s a good chance that he or she will need to report it and pay taxes.
The tax rules governing profits you realize from the sale of your home have changed in recent years.
For homeowners who think their property taxes are too high, there are ways to appeal.
The tax rules that govern donating art are complex and confusing. Take a closer look.
Have income that isn’t subject to tax withholding? Or insufficient withholdings? You may have to pay estimated taxes.