Taxes
12 articles
Liberty Online is a solid tax filing option for tax situations of virtually any complexity. However, it does have a significant disadvantage that’s worth noting: no free filing option. But it’s still worth checking out if you don’t qualify for free tax filing with most tax prep providers, anyway.
FreeTaxUSA’s tax prep software is one of the cheapest — free federal returns for all users, even those with complex tax situations. But it may not be right for all taxpayers. Before you jump at the price, ensure you understand how FreeTaxUSA works, including its advantages and disadvantages.
Want to transfer your house or investment property to a family member? Expect the legal question of how to deed a property to your children to quickly become a tax question about how to minimize gift taxes, capital gains taxes, and estate taxes. Learn how to navigate these complex issues.
During the 2020 presidential primary, multiple candidates drew attention to the concept of a wealth tax. While wealth taxes can come in many forms, there’s a lot of misinformation and misunderstanding about them. Find out how they work and who they really impact.
An offer in compromise allows you to wipe out your tax debts for less than the full amount you owe. However, this option isn’t open to all taxpayers. The IRS considers offers in compromise only in certain circumstances. Find out if you qualify and if an OIC is right for you.
If you recently filed your tax return and were expecting a fat refund, you might be shocked to discover it’s no longer coming. There are several situations in which the IRS can legally seize your refund. So before crying foul, consider whether one of these situations applies to you.
Americans are on the hook for several different types of taxes throughout the year. Luckily, there are ways to reduce your tax burden and spread out the impact taxes have on finances. Here are five types of taxes you may be subject to at some point, along with tips on how to minimize their impact.
Most IRS audits are not random. They’re triggered by red flags that indicate a potentially fault return, high odds of undisclosed income, or both. Learn what these triggers are and how to avoid them to prevent unwanted attention from good ol’ Uncle Sam.
There are many tax benefits to real estate investing. You can intentionally structure your real estate investments to minimize your taxes on multiple forms of income, including real estate profits. But before you dive in headfirst, ensure you understand which tax benefits you qualify for.
As a self-employed person or business owner, you get access to tax deductions and benefits not available to most employees. Here’s what you need to know about how a side gig changes your tax situation, often for the better.
Real estate investors can reduce their taxes through myriad strategies and incentives. But when it comes time to sell, many property owners face sticker shock at their tax bill. These strategies can help you reduce — or better yet, eliminate — your taxes when you go to sell.
As you explore ways to lower your taxes as a real estate investor, add 1031 exchanges to your tax-shrinking toolkit. They can help you avoid capital gains taxes until you’re ready to sell off your portfolio. But first, learn how to use them effectively.
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