For many individuals, IRAs are significant assets that need to be protected. Last year it was reported that the average balance per IRA owner was $127,600, and many have even more squirreled away. Unf...

You work hard to put money into your IRA, 401(k), or other tax-advantaged retirement savings program. The tax law is designed to encourage savings by giving tax breaks—deductions or exclusion from i...

You probably have been paying taxes throughout the year—through withholding on wages and certain other payments or with estimated taxes. However, when it comes time to file your return, you may find...

The U.S. Treasury may be holding tax dollars that are owed to you. Unless you file for a refund, you won't get the money; the government doesn't voluntarily send it to you. Here are some situations in...

There are many tax breaks that you may take if you have a qualifying child. Unfortunately, there is no single definition for all of these tax breaks. Here are the different definitions; you may be eli...

There are about $173 billion in U.S. savings bonds outstanding. This makes this type of investment one of the largest assets held by individuals. Savings bonds enjoy certain special tax treatment. Her...

A new tax year is set to dawn shortly and recently released cost-of-living adjustments can help you plan for 2015. Due to low inflation, increases in the tax brackets and other tax items are minimal; ...

This year has been a bumpy ride on Wall Street, with dramatic swings up and down. Now is a good time to review your retirement account and your personal portfolio. While changes you make in your retir...

Medicare is a government health program primarily for the 49 million Americans age 65 and older. Those covered by Medicare are deemed to have minimum essential health coverage as required by the Affor...

Concerned about care if you should experience a chronic condition or just old age requiring assistance for your daily living activities? You should be, because the cost of long-term care—in your hom...

While the interest is not subject to income tax, it must be reported on your federal income tax return. If you collect Social Security benefits, the interest is taken into account in determining wheth...

Because you are married, you cannot be treated as single. You can file a joint return, or you can opt to file as "married filing separately." However, if spouses live apart and meet certain tests, one...

The American opportunity and lifetime learning credits apply only for qualified expenses required for an enrollment at an "eligible education institution." This is a school eligible to participate in ...

If the replacement doors constitute an energy-saving improvement, you may qualify for a tax credit (not a deduction) of up to $500. This dollar limit is lifetime, so if you've already used up the full...

Sorry for your loss, but unfortunately, funeral expenses cannot be claimed as an income tax deduction. If the value of your husband's estate was large enough to require the filing of a federal estate ...