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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Here are some examples of deductions from the IRS that were permitted and some that were, uh, too creative.
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A quick look at how federal income taxes work.
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.
The tax rules governing profits you realize from the sale of your home have changed in recent years.
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Assess how many days you'll work to pay your federal tax liability.
This calculator compares the net gain of a taxable investment versus a tax-favored one.
Use this calculator to estimate your capital gains tax.
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Estimate how much of your Social Security benefit may be considered taxable.