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 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 MoreYou need to be informed about tax and marriage. You don't want to miss out on tax benefits you qualify for after you marry. Do your research. It can give both you and your spouse peace of mind after marrying to know that you both will enjoy reduced tax liability. The following are some important reasons to say "yes" to the tax benefits of marriage.
Read MoreEach and every working family needs a little bit of help when the tax-paying time comes around – especially working for families with children. That is exactly why the Child Tax Credit program was developed. Let’s look into some important and interesting details about how the Child Tax Credit works, and how it can help you!
Read MoreGas plays an important role in a country's economy because it facilitates the production of goods. Therefore, increasing the gas tax would have a huge impact on the economy of a country. In the recent past, the government has focused on increasing gas tax to reduce inflation in the economy. The question lies as to whether gas taxes speed up or slow down the economy.
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