When you file your taxes, you are going to notice that there is a figure known as you adjusted gross income or AGI. Knowing what the adjusted gross income definition is, and how it impacts your taxes, is important toward filing an accurate return and getting all the money back that you are potentially entitled [...]
What is the Adoption Credit? If you adopted a child recently, you may be able to claim a refundable tax credit for qualified expenses related to the adoption. The tax adoption credit may be worth up to $13,360 for 2011. What Expenses Qualify? Qualified expenses include: Reasonable and necessary adoption fees Court costs Attorney fees Traveling [...]
Are you getting ready to file your taxes? If so, you might find yourself needing a slight refresher on how tax brackets work. The US tax system is based on a progressive rate structure – the more income you make, the higher tax rate you pay. But contrary to popular belief, you do NOT pay [...]
Do you want to get an estimate of how much your tax refund will be before you file? We just updated the 2011 tax calculator, complete with all of the 2011 tax brackets, credits, deductions, and everything else you’ll need to estimate your tax refund before the tax deadline. 2011 Tax Calculator The 2011 tax [...]
Reporting savings bonds on your tax return usually follows a standard course of action, you get a savings bond, hold it for multiple years, then redeem it and report it on your taxes in the year of redemption. But did you know there’s another way to report the savings bonds interest, which could potentially save [...]
