Saving Money on Taxes

More in Saving Money on Taxes

How Much Tax Deduction Can I Expect From Paying School & Property Taxes?

st cities and other local jurisdictions assess property taxes in order to pay for local services such as police and fire protection, as well as schools and street maintenance. This property tax is deductible from your taxable income, provided it meets certain criteria. Taking ...

Tax Write-Offs When Building a New Home

veral tax breaks are available to you if you are building a new home. These tax breaks come in two forms: tax credits and tax deductions. You deduct the amount of a tax credit from the amount you have to pay, while you subtract the amount of a deduction from your taxable income.

How to Redeem a Savings Bonds Without Paying Taxes

S. savings bonds are a relatively safe way to strengthen your financial future. These bonds come in two types. Series EE pays a fixed rate of interest for 30 years. Series I also pays interest for 30 years, but the rate is partially indexed to inflation. Savings bonds are ...

Can an Inherited Non-Qualified Annuity Be Rolled Over Without Tax?

e rules concerning tax-free exchanges of non-qualified annuities changed in 2013, when the Internal Revenue Service published Private Ruling 201330016. Under the ruling, a beneficiary can perform a Section 1035 exchange on an inherited annuity, but the exchange must conform to ...

How to Claim College Students on Federal Taxes

you provide financial support to a college student, whether it's yourself or another family member, you may be eligible for federal tax breaks. These breaks come in the form of tax credits and tax deductions. Some of these tax breaks are alternatives to each other, meaning that ...

How Much Money Can You Give Tax-Free?

an carefully and you can reduce your estate’s tax liability and help those dear to you by giving them some of your money. Give haphazardly and you are likely to fall prey to the gift tax. The IRS assesses it when your generosity exceeds the limit the U.S. tax code ...

Can College Students Deduct Car Mileage on Income Tax?

ether you drive across town or across the country to attend college, your mileage isn't a tax write-off. You or your parents can deduct tuition and fees, but fees don't include the price of gas. There are special circumstances in which you may be able to claim a mileage ...

Tax Credit for Paying Tuition

e Internal Revenue Code is designed in part to use tax incentives to encourage socially beneficial activities. Because of this, it contains several education incentives. Among these incentives are two tax credits -- the American opportunity credit and the lifetime learning ...

How to Reduce Taxes on High Earnings

most cases, the taxes you pay directly relate to how much you earn. This can potentially result in a high tax liability for high-income earners. Federal tax rules allow certain deductions that can reduce taxes for high earners. Understanding the tax laws that benefit high ...

Zacks Investment Research

is an A+ Rated BBB

Accredited Business.