Depending on what you've spent, claiming your medical expenses can get you a bigger refund. We walk you through everything you need to know before filing your taxes.

President Donald Trump has proposed a plan to abolish federal income taxes for Americans earning less than $150,000 per year, ...

The U.S. tax system privileges wealth accumulation over income earned from work, allowing the ultrarich to exponentially grow ...

Understand what tax liability is, how it's calculated, and its impact on your finances. Learn about different types of tax ...

A fter years of paying into the Social Security system, many seniors are surprised to learn that the benefits they receive ...

To understand potential returns, investors should know how to calculate yield ... market conditions and individual risk tolerance. For example, if an investor requires a 4% return and the bond ...

How to calculate capital gains When you sell a capital asset at a price higher than its "basis," you're generally required to report a capital gain on your federal income tax return. Basis means ...

For example, because interest payments on certain ... whose annual tax bills can be very high. To calculate the tax shield, use the following formula: ...

Hitchcock noted that a federal agency may have a data-sharing arrangement with another federal or state agency to advance their work on given routine issues – for example, tax fraud prosecutions ...

Here’s an example: Let’s say you’re ... make sure you tally up your tax basis (your total cost of buying and owning a property) correctly. Your cost basis is used to calculate capital gains and ...