New year, new tax filing. Filing taxes may not be the easiest task, especially with its time-consuming forms and applications. Whether you file with help from a professional or on your own, ...

Income statements detail revenue, expenses, and net income from top to bottom. Reading starts with revenue, deducts expenses, and ends with net income. Subtotal figures help identify missing account ...

When it’s time to calculate your tax bill, knowing your adjusted gross income (AGI) is a crucial first step. If you file your tax return online (or have your tax preparer do it), you’ll need your AGI ...

Taxes may be fact of life, but have you ever been up close and personal with a Form 1040? Here's a beginner's guide to understanding how federal income tax returns work. Many, or all, of the products ...

After years of paying into the Social Security system, many seniors are surprised to learn that the benefits they receive after retirement may be subject to federal income tax. This is generally ...

When it comes to tax season, there's barrage of mind-boggling forms and detailed calculations. It can feel like a herculean task to get your personal finances in order, especially if you're not quite ...

Learn how to calculate payroll taxes in these easy steps. Follow our guide for accurate tax deductions, tips, and tools to simplify payroll processing. Calculating your employees’ gross pay is just ...

Bonds can provide passive income, some of which may be tax-free if you’re investing in municipal bonds. The tax-equivalent yield formula can be a useful tool for comparing taxable and tax-free bond ...

Schedule K-1 details income from pass-through entities for tax reporting. Investors must allocate K-1 income by state to meet nonresident tax obligations. Credits may be available for taxes paid to ...