How much does the average American pay in taxes? And does anyone ever get a tax refund? To answer those questions you must define the average American. Statistics uses many terms to describe numeric facts, so know that a difference exists between the terms average, mean, median, and mode.
Read MoreAs defined by the Internal Revenue Service (IRS), the interest paid on a home equity loan is typically tax deductible as long as the money is used to build a home, purchase a home or improve your existing home. Keep reading to learn more.
Read MoreWhether you live in the south or on the east coast, we have all the details about what states offer lower income and property tax rates and which ones have more generous deductions for dependents. Keep reading to find out everything you wanted to know about taxes across America.
Read MoreIt’s perfectly legal and entirely ethical to take reasonable steps to reduce your tax burden within the terms laid out by law. And the best time to implement the best tax saving strategies is right now.
Read MoreIf you own real estate in the United States, the first tax you are subject to will be the U.S. Property Tax. However, in certain situations, it is possible to reduce - or even eliminate - this tax through property tax exemptions. Keep reading to learn how you can do it.
Read MoreThere are many audit red flags that may help protect your privacy and help you avoid detection. If you are familiar with these red flags, the better for you because you will be safe. If you are reading this article, you are concerned about the IRS audit process and are afraid that you might be exposed to certain red flags.
Read MoreIf you are one of those people who leave everything for the last minute to make their tax return, it is important that you take into consideration the benefits of hiring a tax professional that allows you to organize all your tax information and identify how you can benefit and be able to claim the credit or refund recovery credits that correspond to you.
Read MoreAnyone who has paid for college or looked into college knows that higher education is expensive. If you have paid for college in the past year, you may be eligible for a credit or deduction. There are some qualifications to be entitled to these deductions and credits. Continue reading to find out more about these opportunities.
Read MoreWhen you play the lottery or scratcher tickets or you gamble at a casino, you could win big. You could also end up paying more than one-third of your winnings in taxes. You need to know how to savvily and legally shelter your winnings, so you pay fewer taxes on your found money.
Read MoreThere are some exceptions when it comes to filing taxes. These exceptions include individuals that are outstationed or serving in a combat zone. For those that do have to file taxes, there are a large number of military tax deductions and tax breaks available. Continue reading to find out more about what is available to you.
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