Social Security beneficiaries may face taxes if they have additional income sources or due to the COLA increase. Here's how to determine if you're affected.

One of the most important retirement planning decisions you'll make in your golden years is when to apply for Social Security ...

The Child Tax Credit for 2024 is a tax benefit that provides financial relief to families with qualifying dependent children.

There’s a Stealth Tax retirees and near-retirees often don’t know about until they inadvertently trigger it, increasing taxes they often could have avoided or reduced.

is your adjusted gross income (AGI). Step 4: Decide if you’ll take the standard or itemized deductions Once you’ve calculated your AGI, the final step is to subtract either the standard ...

Understand the difference between AGI and MAGI, crucial for tax deductions, credits, and eligibility. Learn more.

When you fill out forms for your state taxes, it is important to understand the difference between your net income and ...

On the state level, though, the rules are different. A total of 41 states don't tax benefits, but nine do. If you live in one ...

Contributing to a traditional IRA reduces your adjusted-gross income (AGI) for the year, which could put you in a lower tax bracket. However, contributing to a Roth IRA doesn't reduce your taxable ...

People who earn above a specific amount must pay tax on their income and it is called income tax. The government sets the tax ...

Many retirement planning mistakes are easily avoidable. Here are 10 to have on your radar so you don't end up running out of ...