What is self-employment tax? If you are self-employed, you generally must file a Schedule SE, Form 1040, and pay an additional tax on your self-employment income. The federal government uses this tax to fund Social Security and Medicare benefits. The self-employment...
Generally, a tax bracket is the income tax rate at which you are taxed for a certain range of income. The income ranges vary, depending on your filing status: single, married filing jointly (or qualifying widow(er)), married filing separately, or head of household....
If Congress does not take action, Social Security recipients might face a benefit cut once the trust funds are depleted. A recent survey showed that only about half of workers and 6 in 10 retirees are confident that Social Security and Medicare will provide the same...
Losing a spouse is an emotionally distressing time, and not surprisingly, tax-related concerns may not be a priority for a surviving spouse. However, failure to take appropriate steps can lead to a survivor paying more in tax than necessary. Here is an overview of...
For many young people today, the prospect of buying a home can seem out of reach. High prices, elevated interest rates, and limited inventory all make the current housing market a challenging one. Fortunately, homeownership can still be an attainable goal. It may just...
After years of slow audits, taxpayer frustration, and seemingly endless mounds of paperwork, the IRS is now turning to artificial intelligence (AI) to overhaul its technology infrastructure, strengthen compliance, and improve taxpayer services. With funding from the...
According to a 2025 report from Realtor.com, an estimated 26.1% of U.S. homes are exposed to at least one type of severe or extreme weather risk.1 Extreme weather can strike unexpectedly, resulting in costly damage to your home and putting your family’s safety at...
If you follow the stock market, you have probably come across statements like stocks are expensive or overvalued, or this stock is cheap or undervalued. Whatever the terms, what is the point of reference for these opinions? There are many ways to measure the value of...
Sources: Internal Revenue Service, January 2, 2026; Experian, April 16, 2025 More than 100 million taxpayers — representing about 63% of individual returns — received refunds in 2025, with an average refund amount of $3,167. Here's how they planned to spend their...
With the enactment of the One Big Beautiful Bill Act (OBBBA) in 2025, taxpayers may now benefit from a new annual deduction of up to $10,000 for interest paid on qualifying new auto loans, effective for tax years 2025 through 2028. Vehicle requirements "Qualified...
