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.
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A quick look at how federal income taxes work.
Here are some examples of deductions from the IRS that were permitted and some that were, uh, too creative.
You may have heard the phrase "tax-loss harvesting." A financial professional may be able to provide some guidance.
If your clients are buying or selling a home, use this to help them determine if they qualify for capital gains taxes.
For homeowners who think their property taxes are too high, there are ways to appeal.
When you take the time to learn more about how it works, you may be able to put the tax code to work for you.
Use this calculator to assess the potential benefits of a home mortgage deduction.
Assess how many days you'll work to pay your federal tax liability.
Use this calculator to estimate your income tax liability along with average and marginal tax rates.
This calculator compares the net gain of a taxable investment versus a tax-favored one.
Estimate how much of your Social Security benefit may be considered taxable.
Use this calculator to estimate your capital gains tax.