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Five Things to Know about Estimated Taxes and Withholding

With 10 million taxpayers a year facing estimated tax penalties, the IRS offers some simple tips to help prevent a surprise at tax time. People pay taxes on income through withholding on their paycheck or through estimated tax payments. Taxpayers who pay enough tax...

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Taxable Gift or Not Taxable Gift

Taxpayers who give money or property to others may wonder about the federal gift tax and if it applies. Most gifts are not subject to the gift tax.  Here are seven tax tips about the gift tax and giving: Nontaxable Gifts. The general rule is that any gift is...

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Estimated Tax Payments Tips

Taxpayers usually will have taxes withheld from their pay if they are an employee. However, if a person doesn’t have taxes withheld, or they don’t have enough tax withheld, they may need to make estimated tax payments. Taxpayers that are self-employed normally have to...

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Higher Education Tax Benefits

Higher education costs paid in 2016 can mean tax savings when taxpayers file their tax returns. If taxpayers, their spouses or their dependents took post-high school coursework last year, they may be eligible for a tax credit or deduction. Here are some facts from the...

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