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How Married Filing Separately Can Save You Taxes

How Married Filing Separately Can Save You Taxes

Filing jointly or separately The IRS deems taxpayers wedded if they are legitimately married under state law, reside together in a state-recognized common-law marriage, or are separated but do not have a separation maintenance or final divorce decision at the...
Tax Basics for Teens: Filing Your First Tax Return

Tax Basics for Teens: Filing Your First Tax Return

Are you doing your taxes for the first time this year? Filing an income tax return for the first time might be intimidating. The good news is that most teen tax returns are straightforward to complete—you just need to be familiar with fundamental tax concepts. Is an...
Update on the Electric Vehicle Federal Tax Credit

Update on the Electric Vehicle Federal Tax Credit

As of Tuesday, April 18, the amount of electric cars (EVs) that are eligible for the full $7,500 federal tax credit will be significantly decreased due to tougher battery-sourcing restrictions. The US Treasury Department has produced a list of electric and plug-in...