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Piotrekswat/Getty Images Starting next year, Form W-4 may look a little different. The IRS and Treasury Department on Friday released a draft of a new Form W-4 that they say “reduces the form’s complexity and increases the transparency and accuracy of the withholding system,” according to a...
10’000 Hours/Getty Images The stars have aligned, and finally you’re set to collect a meaningful bonus for your hard work. Now you can take that vacation you’ve dreamed of, pay off a loan or help build your savings. Or can you? The answer depends in part on...
Artie Photography/Getty Images Is it better to live in a state with no income tax? It’s a great question to ask especially when considering how much of our paycheck is already set aside for Uncle Sam. Seven U.S. states forgo individual income taxes as of 2018: Alaska, Florida,...
NICHOLAS KAMM/Getty Images President Donald Trump on Wednesday pitched an effort to alter the tax code in Missouri, casting the reform as a potential boost to the bottom line of average Americans by un-rigging the economy for the nation’s workers. The speech, which offered no new specifics, sought to build...
Joe Scarnici /Getty Images The annual back-to-school sales-tax holidays are upon us. Nearly 20 states offer a tax-free holiday of several days or longer, giving families a chance to save money on clothes and classroom supplies. Some states have a broad definition of what is school-related, so...
Klaus Vedfelt/ Getty Images Whether you’re approaching retirement age or have decades to go, hopefully you’re stocking money away into your 401(k). Regardless of what happens in the future with Social Security, your 401(k) will likely be your primary source of income. Understanding just how 401(k)...
@mylove4art/Twenty20 With the end of 2018 approaching, it’s time to start strategizing about how you’ll handle your federal tax bill, and it’s even more complicated this year because multiple changes to tax rules have gone into effect. State and local tax deductions are now capped at $10,000,...
Jamie Kingham/Getty Images Teenagers coming of age often find a part-time job over the holidays or during the summer that enables them to exert some control over their financial life. But the potential tax issues can be thorny if they or their parents don’t know what’s...
Cavan Images/Getty Images Consumers can choose from two types of life insurance – term and permanent. As its name suggests, term insurance provides coverage for a period of time and the cost is cheaper than permanent insurance. A permanent life insurance policy is similar to a savings...
Mehmed Zelkovic/Getty Images Filing taxes for the first time can be an intimidating experience. Between knowing how deductions and credits work, which ones are relevant to you and how to avoid making costly mistakes, first-time filers might be overwhelmed this tax season. Don’t let the complex tax system...