Income Taxes

What's the point of tax loss selling?

Managing taxes can help your bottom line as much as good investment selection. Tax-loss selling, also known as loss harvesting, is an example of a simple strategy that can save taxes for those investing using taxable accounts. Here's an overview of how it works and why it's worth the bother.

Withholding and Estimated Taxes

Who doesn't like getting a tax refund in April? It's kind of like a bonus paid to you by the US Treasury. But many people seem to equate a tax refund with good tax planning, when really a refund just means your withholding or estimated tax payments were too high. Here's a primer on how this whole system works, and some tips for planning the right-sized refund.

Why I Can't Guess Your Tax Bracket

Earn a higher income and you'll almost always pay higher federal income taxes. That's pretty clear from looking at a table of income tax brackets. But just how much higher has become a really hard thing to estimate, because those brackets don't tell the whole story. 

Medicare Tax Details Released

The IRS today released proposed regulations and FAQs related to the new Medicare tax on net investment income. For those who haven't heard of it, beginning in 2013 married couples with AGI over $250,000 and singles with AGI over $200,000 will pay an additional 3.8% tax on income meeting the criteria.

Also, there's a new 0.9% surcharge on earned income that exceeds these same AGI treshholds. These new taxes were passed as part of the Affordable Care Act, but only take effect in January 2013.

Job Searches and Taxes

It's easy to rack up some expenses when looking for a job, especially if travel is involved. Can those expenses net you a tax break?

Day camp and taxes

Can you take a tax deduction for the cost of day camp for the kids?

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