Here's what you should know about income tax, what it is, how it works, how to calculate it and which states don't have it.

Your effective tax rate is a good indicator of how well you’ve been managing your tax situation. It’s smart to calculate your effective tax rate each year to help you make adjustments to your ...

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 ...

Adjusted gross income is an important number used to determine how much you owe in taxes. It’s a factor in determining your federal tax bracket and taxable income — the portion of your income subject ...

Filing taxes can get confusing, especially with all the forms and applications. Whether you file with help from a professional or on your own, calculating the precise total you owe to Internal Revenue ...

The provision for income taxes on an income statement is the amount of income taxes a company estimates it will pay in a given year. The company's final tax bill may be slightly more or less than the ...

Finding a financial advisor doesn't have to be hard. SmartAsset's free tool matches you with up to three fiduciary financial advisors that serve your area in minutes. Each advisor has been vetted by ...

Of your many responsibilities as a small business owner, ensuring that your employees’ pay is calculated accurately ranks near the top of the list. That includes withholding the correct amounts for ...

Paying taxes on an inheritance can be tricky, and that may be especially true if you’re dealing with an inherited annuity. The tax liability changes based on how the annuity was funded, whether it’s ...

It’s hard enough to purchase a home today with mortgage rates near 7% and, apologies for being the bearer of worse news, there’s another housing cost that’s also spiking: property taxes Mortgage rates ...

Early withdrawals can shrink your 401(k) savings. See how to calculate the IRS 10% penalty, and learn about exceptions, SECURE 2.0 updates, and penalty‑free alternatives.