For many retirees, discovering that a portion of their Social Security benefits might be subject to federal income taxes can ...

Some retirees are caught off guard when taxes take a bite out of their Social Security. Understanding the IRS formula behind ...

You know the saying "have your cake and eat it too"? I've found that it rarely applies to personal finance. Usually, personal finance is about choosing one benefit or the other. You can't max out both ...

Explore annuity payout options like life-only and joint-life. Learn how to choose the right income plan for your goals.

Itemized deductions are specific expenses you can subtract from your taxable income to potentially lower your tax bill. In ...

The House of Representatives passed its version of the fiscal year (FY) 2025 budget reconciliation bill on May 22 by the narrow margin of 215 to 214, with one Member voting present. The bill, titled ...

Explore the latest IRS updates for 2025, including tax bracket shifts, deduction increases, and new filing tools to help ...

New IRS data reveals stark contrasts in tax contributions across income brackets. The top 1% of earners pay 40% of all taxes, while the bottom 50% contribute just 3%, igniting debates on fair taxation ...

Thinking about opening an annuity? Understanding how the 5-year rule works can help you avoid costly tax surprises.

One of the biggest "cons" of a 401k or IRA is that your money is "locked up" until retirement. But did you know that there ...

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

The federal government helps defray at least some small portion of those costs with the child and dependent care credit, ...