Net Income vs Gross Income: What’s the Difference?
The information in this article is up to date for tax year 2025 (returns filed in 2026). Gross income is your total earnings before any deductions, while net income refers to what you take home after taxes and other deductions. In this article, we’ll explain the differences between...
New Tax Laws for 2025: Key Changes & How They Affect You
The information in this article is up to date for tax year 2025 (returns filed in 2026). The new tax laws for 2025 change tax rates, increase deductions, and adjust retirement contributions. These changes reduce your tax bill and simplify filing. Understand these updates to optimize...
6 Ways to Increase Your Tax Refund
The information in this article is up to date for tax year 2025 (returns filed in 2026). Want to increase your tax refund this season? You’re not alone. Most people want to get back as much as they can or at least pay no more than necessary. The hard part is...
Married Filing Jointly: Pros, Cons, and Tax Tips
The information in this article is up to date for tax year 2025 (returns filed in 2026). Married filing jointly is a tax status for married couples who combine their incomes, deductions, and credits on a single tax return. This approach can simplify filing and potentially reduce...
Tax Tips Every Student with a Summer Job Should Know
The information in this article is up to date for tax year 2025 (returns filed in 2026). Got a summer job lined up? Whether you're scooping ice cream, lifeguarding, or freelancing online, earning money during the summer is a great way to build independence. But once payday comes...
Top 15 Tax Deductions for Self-Employed Individuals
The information in this article is up to date for tax year 2025 (returns filed in 2026). Self-employed and looking to save on taxes? This guide outlines the top 15 tax deductions for self-employed individuals. From home office expenses to retirement plan contributions, learn how to...
9 Life Events That Have a Major Impact on Your Taxes
The information in this article is up to date for tax year 2025 (returns filed in 2026). Taxes can be a tricky subject, and sometimes, life’s big events can make it even more complicated. Whether you’ve gotten married, had a baby, changed jobs, or bought a home, these life events...
Required Minimum Distribution: How To Calculate Your RMD
When you turn 73, the IRS requires you to take required minimum distributions (RMDs) from certain retirement accounts. This guide will explain what RMDs are, how to calculate them, and the rules you need to follow to avoid penalties. Key Takeaways Starting at age 73, individuals...
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