With soaring prices and record home equity, you may expect a profit from selling your property. But the windfall may trigger an unexpected tax bill next April. While home profits…
Tag: tax
Got a Tax Refund? Here Are the Smartest Things You Can Do With Extra Cash.
Opinions expressed by Entrepreneur contributors are their own. The average tax refund this year is more than $3,200. For a small business owner dancing on the entrepreneurial tight rope, juggling…
I Bond hacks on tax returns and more as inflation hits 8.5%
A return to go-go inflation is lousy on the wallet but may be good for your tax refund. The U.S. inflation rate hit 8.5% in March over the past 12…
How to Save on Your Taxes and Other Last-Minute Tax Tips
After two years of extended deadlines, tax filing in April is back — and fast approaching. The pandemic led to delays in filing deadlines that stretched into late spring or…
Biden to propose new minimum tax on wealthiest Americans
Joe Biden will call on Congress to introduce a new minimum tax targeting the investment income of the wealthiest Americans as part of a new budget proposal. In a statement…
As Home Sale Prices Surge, a Tax Bill May Follow
There are steps you can take, however, to reduce the amount of your gain that is taxable. First, you can subtract costs associated with the sale of the house, like…
Made Green Upgrades in 2021? Don’t Miss These Tax Credits
Many Americans have woven green practices into their everyday lives — from recycling to going paperless and even cutting back on meat consumption. NerdWallet – NerdWallet Switching to clean energy…
If Your Life Changed in 2021, Watch for Income Tax Surprises
The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or…
Made a profit selling your home? Here’s how to avoid a tax bomb
If you recently made a profit selling your home, it may come with a costly surprise this filing season: capital gains taxes on your windfall. In 2021, the average U.S.…
New York State Tax Receipts Surge to $12.9 Billion Over Forecast
(Bloomberg) — New York state tax revenue soared to $84.4 billion in the first nine months of the fiscal year, $12.9 billion more than forecast, bolstered by a business tax…