Tracy Byrnes: Lots of new stuff this year. Lisa Greene-Lewis, TurboTax expert and CPA, thank you for breaking it all down. Lisa Greene-Lewis: Thank you for having me. With TurboTax Live Full Service, a local expert matched to your unique situation will do your taxes for you start to...
Sponsored Story What's new for tax year 2023? Before you finish your taxes, make sure you know about some important changes that can affect you. Lisa Greene-Lewis, CPA and TurboTax expert, explains. Lisa Greene-Lewis for TurboTax Mar 21, 2024 11:26 AM EDTStart...
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25, 2024: This article was published at an earlier date and has been updated with new information. Tags: paying for college, paying for community college, FAFSA, education, financial aid, taxes, students College Admissions: Get a Step Ahead! Get updates from U.S. News including newslet...
Some taxpayers may get a break next year on their taxes thanks to the annual inflation adjustment of tax brackets set by the IRS.The tax agency hasn't yet announced the new brackets for 2024, but that is likely to come within the next days or weeks, according to Steve Grodnitzky of ...
25, 2024: This article was published at an earlier date and has been updated with new information. Tags: paying for college, paying for community college, FAFSA, education, financial aid, taxes, students College Admissions: Get a Step Ahead! Get updates from U.S. News including newsletters,...
This feature update is based on Central Board of Direct Taxes (CBDT) circular number 17, dated September 30, 2020.According to the new information that was originally provided, tax would be collected when the following conditions were met:When...
The credit is nonrefundable, which means you can’t get back more money than you owe in taxes and you can’t apply any excess to future tax bills. Starting this year, buyers of new cars can transfer the credit to the dealership for an upfront discount rather than waiting to get the...
If you break even on your taxes, you may still be able to claim the additional child tax credit. This portion of the child tax credit allows you to receive up to $1,700 per child as a refund — even after your tax bill is reduced to zero. For example: Tim and Martha are a coupl...
State and local taxes (SALT): The combined deduction for state and local income taxes, property taxes, and real estate taxes is capped at $10,000.4 Mortgage interest deduction: You can deduct your mortgage interest on up to $750,000 of debt. The limit is $1 million if you bought the ...