Some employers also offerflexible spending accounts (FSA), which are similar to HSAs in that they reduce your taxable income by allowing pre-tax contributions. But you can'tinvest the money you contributeto an FSA and funds typically don't roll over to the next year. In addition, if you ...
Here are 12 easy moves you can make to lower your tax bill this year, plus tips for how to take advantage of them. See which ones will work for you.
Also, if your spouse owes certain otherdebtsthat you’re not liable for, such as unpaid child support to another family or a tax debt from before you were married, the IRS can divert your joint tax refund to pay off those debts. From there, you can potentially file an injured spouse cl...
If you want to cut your federal income tax bill, you need to understand what’s included in your taxable income.
Experiencing a major life change or receiving a big refund or a high tax bill are all reasons to consider filling out a new W-4 form and adjusting your withholding amount.
How to Reduce the AMT A good strategy for minimizing your AMT liability is to keep youradjusted gross income(AGI) as low as possible. Some options: Participate in a401(k),403(b),SARSEP,457(b)plan, orSIMPLE IRAby making the maximum allowable salary deferral contributions.Self-employedind...
Many taxpayers fail to file a return even when required to do so. Your obligation to file these returns never goes away, but catching up may be easier than you think.
Create a strategy to help manage, defer, and reduce federal taxes.Fidelity Viewpoints Key takeaways Taxes shouldn't be the primary driver of your investment strategy—but it makes sense to take advantage of opportunities to manage, defer, and reduce taxes. Manage federal income taxes by ...
The goal is to reduce the size of one's estate as much as possible since everything over $600,000 is fair game for federal taxes. Although there was a lot of talk about tightening federal estate tax rules during this past summer's ...
First, you want to review how much money is being withheld from your pay for federal taxes. Having too little tax withheld could result in a tax bill or penalty. If too much tax is withheld, you could get a refund. You should check your withholdings when you have major life changes, ...