Tax articles
395 plain-English guides to U.S. federal taxes, newest first.
18 results in Family and Taxes
ClearIs Daycare Tax Deductible? Here's What You Should Know in 2025
Daycare expenses can be a major cost for working parents, but the good news is, they may help reduce your taxes. Certain childcare costs are eligible for deductions or credits, like the Child and Depe…
Form 8958: Allocation of Tax Amounts Between Certain Individuals in Community Property States
IRS Form 8958 helps married couples who live in community property states split up income, deductions, and credits when filing separately. If you're not filing jointly, this form makes sure everything…
What You Need to Know About Form 8888: Allocation of Refund in 2025
Tax season is no one’s favorite time of year, but if you’re due for a refund, there’s at least something to look forward to. And that’s where Form 8888 might come into play.
The Inheritance Tax: What You Should Know and What To Do About It
Inheritance tax is an important consideration for individuals who receive assets from a deceased person’s estate. While the United States does not have a federal tax for inheritances per se, several s…
Married Filing Separately: What It Means and When It Makes Sense
When you’re married and preparing to file your taxes, you generally have two filing status options: married filing jointly or married filing separately. While most couples choose to file jointly to ta…
Tax Benefits of Marriage: How Tying the Knot Can Lower Your Tax Bill
Marriage is often viewed as a romantic and personal milestone, but it also comes with financial implications—especially when it comes to taxes. For American couples, saying "I do" can unlock several t…
Is Social Security Disability Income Taxable by the IRS?
Social Security Disability Income (SSDI) provides crucial financial support to people unable to work due to a disability. While the benefits can be a much needed lifeline for many Americans, many new…
Claiming Parents as Dependents: How it Works
Who doesn’t want to help their parents? Claiming an elderly parent as a tax dependent is not only caring for them as they enter the final stage of their lives, but it can also bring you substantial ta…
The Consequences of Filing Taxes Late
Filing your tax return late is not going to put you on the IRS’s good side, and they could penalize you with both late-filing penalties and, if you also let the payment deadline slip by, a late-paymen…
How Much Does a Dependent Reduce Your Taxes?
Dependents can bring significant tax savings for you, but you have to make sure they qualify for it, so don’t go claiming every child around you just yet!
Claiming Dependents On Taxes: A Complete Guide
For tax purposes, a dependent is anyone who relies on you for financial support and can be “claimed” on your tax return (other than your spouse, of course.) Typical examples of dependents are your chi…
You Can Now Claim Self Employed Tax Credits for Sick Time & Family Leave
A new tax credit to claim is something you'll never get sick of.
You Can Now Claim Self Employed Tax Credits for Sick Time & Family Leave
A new tax credit to claim is something you'll never get sick of.
Minor Question: Are Minors Exempt From Tax Withholding?
If minors don't get taxes taken out, can I be 18 again?
IRS Pub 596: What You Need To Know About
Are you looking for an easy way to file your taxes? If so, IRS Pub 596 is the publication for you! This comprehensive guide outlines the eligibility and filing requirements for claiming the earned inc…
Federal Tax Break for Child & Dependent Care Expenses
Did you pay for daycare, summer camp, or a babysitter to care for your kids during 2018? Or did you pay a care provider to look after your dependent (e.g., spouse or qualifying individual) while you w…
How to Determine Your Federal Filing Status
There are five statuses: Single, Married Filing Jointly, Married Filing Separately, Head of Household, and Qualifying Surviving Spouse with a Dependent Child. They determine many things about your tax…
Can The Windfall Tax Affect You?
The windfall tax is deceptively simple. When you receive a windfall — whether it’s an inheritance from a relative, winnings from the lottery or gambling, or proceeds from a legal settlement — you may…