Income Tax

Understanding how the income tax system works—and ways to minimize the amount you owe—is essential to financial planning. Learn about tax brackets, filing status, how to file taxes, and more.

Frequently Asked Questions
Key Terms
H&R Block vs. TurboTax vs. Jackson Hewitt: What’s the Difference?
Marina Bay, with lily pond and buildings of the central business district in Singapore.
What Makes Singapore a Tax Haven?
9 Sources for Free Tax Help
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Tax Preparer vs. Software: How To Choose
Young family with baby speaks with tax adviser who has open laptop.
State Income Tax vs. Federal Income Tax: What's the Difference?
Tax preparer talks to two clients
How to Find the Best Tax Preparer for You
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Withholding Allowance: What Is It, and How Does It Work in a Paycheck?
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What Is a Progressive Tax? Advantages and Disadvantages
Tax Haven: Definition, Examples, Advantages, and Legality
Is a Progressive Tax More Fair Than a Flat Tax?
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Proportional Tax Meaning, Example, Pros and Cons
Above-the-Line Deduction
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The Truth About IRS Tax Settlement Firms
1040 Form
What Is a Tax Base? Definition, Formula, and Examples
Accountant or Banker Making Calculations
Marginal Tax Rate System: Definition, How It Works and Rates
Deadweight Loss Of Taxation: Definition, How It Works and Example
Hong Kong Skyline China
Why Is Hong Kong Considered a Tax Haven?
A young boy accountant wearing glasses and suit watches U.S. currency while more falls from above. He is looking closely at Ben Franklin.
The Basics of Determining Taxes on Mutual Funds
How Are Corporate Bonds Taxed?
Which Countries Have High Taxes on High Incomes?
Is Dividend Income Taxable?
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How to File Your Child's First Income Tax Return
Gold bars
Taxes on Physical Gold and Silver Investments
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Why Is the Bahamas Considered a Tax Haven?
Tax documentation papers on a desk
What Does Income Tax Payable Mean in Financial Accounting?
Do 401(k) Contributions Reduce AGI and MAGI?
Man sitting on floor in living room working on bills and using a calculator, pen, and notepad
How the TCJA Tax Law Affects Your Personal Finances
Moving down red bar graph of 401k on white.
10 Ways to Reduce Your 401(k) Taxes This Year
What Are Unclaimed Funds? Definition, How They Work, and Example
How Do I Report SIMPLE IRA Contributions on a W-2?
Aerial View of Monte Carlo, Monaco
Why Is Monaco Considered a Tax Haven?
Accountable Plan
Accountable Plan: Definition and Taxation on Reimbursements
State Income Tax: What It Is, How It Works, States Without One
High Angle View of Tax Forms and Pen
What Are the Dangers of Using the Electronic Federal Tax Payment System (EFTPS)?
What Is a Holding Period (Investments), and How Is It Calculated?
Revenue Agent's Report (RAR)
Preparer Tax Identification Number (PTIN)
Vertical Equity
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Why Is the United Kingdom's Jersey Considered a Tax Haven?
IRS Form 8949, Sales and Other Dispositions of Capital Assets
IRS Form 8949: Sales and Other Dispositions of Capital Assets
Tax Havens: All You Need to Know
Six Ways Your Tax Preparer Knows You're Lying
Why Are the Cayman Islands Considered a Tax Haven?
Calculator and pen on table
How Are Qualified and Ordinary Dividends Taxed?
Cryptocurrency Taxes
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Form 5329: Additional Taxes on Qualified Plans Definition
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Registered Retirement Savings Plan Deduction Limit
Will You Pay Taxes During Retirement?
Will You Pay Taxes During Retirement?
Notebook with mutual funds sign on a table. Business concept.
How Are You Taxed After Selling a Mutual Fund in a Roth IRA?
Is Ireland a Low Tax Haven?
How the Ideal Tax Rate Is Determined: The Laffer Curve
Horizontal Equity
Kyrenia (Girne) is a city on the north coast of Cyprus.
Is Cyprus Considered a Tax Haven?
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Income in Respect of a Decedent (IRD): Definition and Taxes
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9 States With No Income Tax
Duty Free
What Does Duty-Free Mean, and How Can It Save You Money?
Are Dividends Considered Passive or Ordinary Income?
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The Fundamentals of Spousal Support Taxation
Calculator and Tax Forms
IRS Publication 590-A
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What You Should Know About Same-Sex Marriage Tax Benefits