The way your income is taxed differs based on whether it’s considered earned or unearned . Read on to learn more.

Annual income is the amount of money you bring home each year prior to deductions. For example, if your base pay is $45,000 per year, that’s your annual income even though your take-home pay is less ...

Enter household income you received, such as wages, unemployment, interest and dividends. Choose the filing status you use when you file your tax return Input the total of your itemized deductions, ...

In order to pay your employees correctly each pay period, you need to know how to calculate gross and net pay. Learn how to ...

The alternative minimum tax (AMT) calculation determines whether a taxpayer must pay an additional amount beyond their regular income tax liability. To calculate AMT, taxable income is adjusted by ...

The One Big Beautiful Bill Act (OBBBA), passed July 4, 2025, will bring sweeping changes to federal corporate and individual tax rules. Many of these ...

Read about IRS Publication 334, a vital tax guide for sole proprietors and statutory employees, offering essential tips on deductions, credits, and filing Schedule C.

Anyone who has run a business of any size understands how confusing and, at times, complex the tax code can seem. So deferred tax assets (DTAs) can be challenging. However, understanding them is ...

If A, from the example in the article, had the same amount and type of taxable income in 2017 under the old kiddie tax rules and her parents had taxable income of $250,000 and they did not owe ...

Many areas of the U.S. individual income tax were changed for tax years 2018 through 2025 when P.L. 115-97, known as the Tax Cuts and Jobs Act (TCJA), was enacted in late 2017. One of those areas was ...