Taxes

According to the Center on Budget and Policy Priorities, 77 percent of the total value of HSA contributions in tax year 2023 went to those with incomes over $100,000, a statistic which reveals just how valuable the HSA triple tax advantage can be for building long-term wealth. This advantage represents one of the most powerful … Read more

The IRS requires all taxpayers to answer a digital asset question on their tax returns, marking a shift in how seriously cryptocurrency tax rules are being enforced. According to recent IRS guidance, this question must be answered by everyone who files tax forms, not just crypto investors. Whether you’re trading Bitcoin, staking Ethereum, or receiving … Read more

The average refund amount through April 4 was $3,116, roughly 3.5% higher than the average refund of $3,011 at that time last year according to the latest IRS data from the CPA Practice Advisor. While millions celebrate these windfalls, tax refunds are not good news for your financial health. They represent a fundamental misunderstanding of … Read more

Starting in 2025, the SALT deduction cap will increase to $40,000 for eligible taxpayers, marking a significant change from the current $10,000 limit that has been in place since 2018. If you’re among the roughly 10% of taxpayers who itemize deductions rather than taking the standard deduction, this change could substantially impact your tax liability. … Read more

Teachers spent an average of $895 out-of-pocket on school supplies during the 2024-2025 school year, according to recent data from AdoptAClassroom.org. This figure represents nearly a 50% increase since 2015, highlighting the growing financial burden educators face. While this reality can feel overwhelming, understanding available tax deductions for teachers can help you recoup some of … Read more

Education tax credits can provide significant financial relief for families struggling with rising college costs. Average higher-education costs for tuition, fees, and room and board have climbed over the last few decades, from $12,126 in 1963 to $27,673 in 2022 (in constant 2022-23 dollars), according to the U.S. Department of Education’s National Center for Education … Read more

Understanding dividend tax rules can significantly impact your investment returns and overall tax liability. For the 2025 tax year, qualified dividends benefit from preferential tax rates of 0%, 15%, or 20%, while non-qualified dividends face ordinary income tax rates up to 37%. Whether you’re building a retirement portfolio or seeking passive income, knowing these tax … Read more

As you gather documents, calculate deductions, and try to make sense of ever-changing tax laws, it’s easy to make mistakes on your tax return. Unfortunately, some of these common tax form errors can trigger unwanted attention from the Internal Revenue Service. According to a report from the Treasury Inspector General for Tax Administration, the IRS … Read more

Your first time filing taxes can feel like exploring uncharted territory. The forms seem cryptic, the terminology unfamiliar, and the consequences of making mistakes potentially significant. According to the IRS, more than 140 million Americans filed their taxes by the deadline week in 2025, and many report feeling overwhelmed by the process. The good news? … Read more

Tax season brings many decisions for married couples, but few are as important as choosing between married filing jointly vs separately. This choice affects everything from your tax bracket to the deductions and credits you can claim. Approximately 95% of married couples chose to file jointly, according to IRS data, but that doesn’t mean it’s … Read more

Facing tax debt can be overwhelming, but understanding IRS tax payment plans and penalties puts you back in control of your financial future. According to the IRS, over 11 million taxpayers owed back taxes in 2023, with many unaware of the payment solutions available to them. Whether you’re dealing with a temporary cash flow issue … Read more

Welcome to our comprehensive property tax guide, where we explore everything you need to know about one of the largest recurring expenses of homeownership. Property taxes fund essential community services and infrastructure that we rely on daily, but as a homeowner, I’ve learned that understanding how these taxes work isn’t just about fulfilling an obligation—it’s … Read more

Filing taxes doesn’t have to be expensive or complicated. After decades of using various tax preparation services and software for filing returns both for myself and family members, I’ve found that FreeTaxUSA offers an impressive combination of features, accuracy, and value that makes it stand out in the crowded tax software market. In this comprehensive … Read more

Passed by voters in 1978, California Proposition 13 remains one of the most significant and contentious pieces of legislation in the state’s history. The proposition fundamentally transformed the state’s property tax system, providing substantial benefits to long-term property owners while sparking ongoing debate about its broader economic and social impacts. This article discusses the history … Read more