The Tax Center

Everything you need to know to make smart tax decisions.

Tax Timeline

Dec 1
Start tax loss harvesting
Dec 31
Deadline to make charitable contributions
Jan 15
Q4 estimated payments due
Feb 1
Where’s your W-2?
Feb 16
Where’s your 1099?
Mar 31
Submit expenses for FSA
Apr 17
Tax Day! (April 15 is a Saturday)
Jun 15
Q2 2017 estimated payments due
Sep 15
Q3 2017 estimated payments due
Oct 16
Taxes due if you got an extension

December
2016

December 1, 2016

Start rebalancing so you can finish tax loss harvesting by December 31st. Look for mutual fund distribution statements for taxable accounts in the mail.

December
2016

December 31, 2016

Deadline for having made charitable contributions for deductions.

January
2017

January 15, 2017

Q4 estimates due for self-employed filers.

February
2017

February 1, 2017

Day you should have your W-2 form.

February
2017

February 16, 2017

Day you should have your 1099 (interest and dividend from investments).

March
2017

March 31, 2017

Deadline for spending HSAs.

April
2017

April 17, 2017

Tax forms or extension requests due; last day to make a 2016 IRA contribution; first quarter estimated tax due for self-employed.

June
2017

June 15, 2017

Q2 2017 estimated payments for self-employed due.

September
2017

September 15, 2017

Third quarter estimated tax payments for self-employed due.

October
2017

October 16, 2017

Tax returns due for individuals who got an extension.

Tax Strategy

  1. 10 Sources of Nontaxable Income

    Taxes are often a deterrent from investing and saving. These financial practices will bring you no tax grief.
  2. How to Owe Nothing on Your Federal Tax Return

    You have the control to determine whether you owe in April. Learn more here.
  3. An Overview of Itemized Deductions

    President Trump may get rid itemized deductions.
  4. How to File Your Child's First Income Tax Return

    Use this quick parental guide to help your child learn the tax filing process and establish good habits.
  5. How To Claim A Dependent On Your Tax Return

    If you are a caregiver, get to know the rules for claiming a dependent before filing your taxes.
  6. The Most Overlooked Tax Deductions

    The receipts you cram into your wallet could be replaced with cash come tax season.
  7. Six Ways Your Tax Preparer Knows You're Lying

    An experienced tax preparer can sense when a client is lying. Find out what sets off their lie detectors.
  8. What is the difference between gross income and taxable income?

    Understanding common tax terms including gross income and taxable income can help individuals navigate tax accounting in ...
  9. Happily Married? File Taxes Separately!

    Just because you are in love doesn't mean that a joint return is best for both of you.
  10. What You Need To Know About Capital Gains And Taxes

    Find out how your profits are taxed and what to consider when making investment decisions.
  11. Tax Deductions You May Be Missing

    Knowing the tax deductions you're entitled to can make or break your bank account. Do you know about all these insurance-related ...
  12. Taxation Rules for Bond Investors

    Several factors affect the taxable interest that must be reported. Learn more here.
  13. Don't Miss This Retirement Tax-Saving Window

    Many retirement planners view the years between age 59½ and 70½ as a “sweet spot” for their clients’ taxes. Here’s why and ...
  14. Year-End Tax Planning for Your Investments

    Year-end tax planning is crucial to take advantage of strategies to maximize after-tax returns on your investments.
  15. Form 9465: Don't Pay Your Back Taxes Without It

    This form can lighten your tax load if you owe Uncle Sam.
  16. 10 Steps to Tax Preparation

    The earlier you start preparing your tax records and documents, the more likely you are to have a smooth tax return experience ...
  17. 6 IRA Tax Changes That Could Impact You Soon

    Here are several potential measures that could come before Congress in 2017 that would negatively impact the tax benefits ...
  18. 10 Tax Deductions & Benefits for the Self-Employed

    Running your own business has both personal and financial perks.
  19. 2 Charitable Tax Planning Strategies for Year-End

    These strategies help support your favorite qualified charity while also reducing your tax liability to Uncle Sam.
  20. 12 Tax Planning Tips for Potential Changes Ahead

    Here is a comprehensive guide to tax planning in an environment where policies could dramatically change under new leadership ...
  21. Important Year-End Tax Moves for 2016 (Part 1)

    Here's part of a year-end tax strategy for 2016, to make the most of your retirement savings plans.
  22. A Holiday Reminder: Harvest Your Tax Losses

    You could have some losses in your taxable accounts that you can harvest for a tax deduction.
  23. Smart Year-End Tax Moves for 2016 (Part Two)

    Here's are some crucial tax planning strategies for investments, Social Security and Medicare.
  24. Tax-Efficient Portfolio Tips for High Income Earners

    High income earners can use these tips to make their portfolio more tax-efficient.
  25. Have You Started Year-End Tax Planning?

    Here’s a look at some considerations for year-end planning for taxable (non-retirement) accounts.
  26. 5 Year-End Tax Strategies to Prepare for 2017

    Here are five strategies to implement before the end of the year that could help lower your tax bill.
  27. 10 Top Financial Steps to Take Before December 31

    Don't let your financial plan fall to the wayside - consider these financial steps before year-end.
  28. How to Give Tax-Saving Gifts Before The Year Ends

    Giving to charity and family members before year-end can help you save on 2016 taxes.
  29. How to Save More for Your Retirement

    Be sure you know all the tax-advantaged ways in which you can save more for retirement.
  30. Your Tax Preparer Screwed Up – Now What?

    Even professional tax preparers can make mistakes. What to do if it happens on your tax return.

Tax Help

Asset 1 Definitions

  • Filing Status

    A category that defines the type of tax return form an individual will use. Filing status is closely tied to marital status.

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  • Standard Deduction

    A base amount of income that is not subject to tax and that can be used to reduce a taxpayer's adjusted gross income (AGI).

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  • Itemized Deduction

    A deduction from a taxpayer's taxable adjusted gross income that is made up of deductions for money spent on certain goods and services throughout the year.

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  • Filing Extension

    An exemption made to both individual taxpayers and businesses that are unable to file a tax return by the due date.

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  • Alternative Minimum Tax

    An alternative minimum tax (AMT) recalculates income tax after adding certain tax preference items back into adjusted gross income.

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  • Ordinary Income

    Ordinary income is composed mainly of wages, salaries, commissions and interest income from bonds, and it is taxable using ordinary income rates.

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  • Internal Revenue Code

    The Internal Revenue Code (IRC) refers to Title 26 of the U.S. Code, which acts as the laws of the country.

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  • Tax Bracket

    A tax bracket refers to a range of incomes that are subject to a certain income tax rate.

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  • Tax Gain/Loss Harvesting

    Tax gain/loss harvesting is a strategy of selling securities at a loss to offset a capital gains tax liability.

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  • W-2 Form

    The W-2 form is the form that an employer must send to an employee and the Internal Revenue Service (IRS) at the end of the year.

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  • Adjusted Gross Income

    Adjusted gross income (AGI) is a measure of income calculated from your gross income and used to determine how much of your income is taxable.

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  • Flexible Spending Account

    A Flexible Spending Account (FSA) is a type of savings account available in the United States that provides the account holder with specific tax advantages.

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  • Internal Revenue Service

    The Internal Revenue Service (IRS) is a U.S. government agency responsible for the collection of taxes and enforcement of tax laws.

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  • Traditional IRA

    A traditional individual retirement account (IRA) allows individuals to direct pretax income towards investments that can grow tax-deferred; no capital gains or dividend income is taxed until it is withdrawn.

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  • Roth IRA

    A Roth IRA is an individual retirement plan (a type of qualified retirement plan) that bears many similarities to the traditional IRA.

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  • Taxable Income

    Taxable income is the amount of income used to calculate an individual's or a company's income tax due.

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  • Tax Credit

    A tax credit is an amount of money a taxpayer is able to subtract from taxes owed to the government.

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  • Capital Gain

    Capital gain is an increase in the value of a capital asset (investment or real estate) that gives it a higher worth than the purchase price.

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  • Cost Basis

    Cost basis is the original value of an asset for tax purposes, usually the purchase price, adjusted for stock splits, dividends and return of capital distributions.

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  • Capital Gains Tax

    Capital gain is an increase in the value of a capital asset (investment or real estate) that gives it a higher worth than the purchase price.

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  • W-4 Form

    An employee completes an IRS W-4 form, or an Employee's Withholding Allowance Certificate, to indicate his tax situation to the employer.

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  • Form 1099-MISC

    Form 1099-Misc is a tax form that reports the year-end summary of all non-employee compensation.

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  • IRS Form 4868

    An IRS form that must be submitted by individuals who wish to extend the amount of time they have to file their tax returns.

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  • IRS Form 1040

    Form 1040 is the standard Internal Revenue Service (IRS) form that individuals use to file their annual income tax returns.

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