Modified adjusted gross income, or MAGI, is a crucial tax term to know if you want to qualify for valuable tax benefits.

Income tax return (ITR) filing season is back and the taxpayers have two more months to go for filing their tax returns ...

That rate will be applied to any supplemental wages, such as bonuses, up to $1 million during the tax year. If your bonus ...

which can reduce their tax burden.Income tax rates applicable for individuals aged between 60 and 80 years who are senior citizens. To calculate income tax as per the old income tax slab ...

In a progressive tax system like ours, more than one tax rate applies to your income. Your marginal rate is your top tax rate ...

Examining a personal financial planning scenario can help students develop the application and analysis skills necessary to ...

Plan smarter for retirement. Explore Medicare choices, long-term care insurance and effective tax reduction techniques.

How to Calculate Your Tax Liability The most common federal tax liability for Americans is the tax on earned income. You can use the tax brackets and standard deductions issued by the Internal ...

Welfare cliffs occur when a pay increase triggers a loss in benefits. Transitional benefits can help soften the blow of these ...

ITR-U is applicable to any individual or corporate entity that has omitted or misreported income, missed deductions, or ...

Achieve explains how understanding your DTI can give you an important edge when you’re looking for a home equity loan or ...

dividend income and capital gains into the tax bracket. Calculating tax should be relatively straightforward, but for those earning six figures it's slightly more complicated. This is the ...