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Is Your Income High Enough to Owe Two Extra Taxes?

There are two special taxes that may have a significant effect on the tax bills of high-income folks: the 3.8% net investment income tax and a 0.9% additional Medicare tax on wage and self-employment income. Here are the basic rules.

The Inflation Reduction Act: What’s In It For You?

If you’re interested in purchasing energy-saving property for your home or an electric vehicle, you may qualify for a tax break under the new Inflation Reduction Act. Here are the basic rules.

An “Innocent Spouse” May Be Able To Escape Tax Liability

In some cases, a married couple files a joint tax return and one spouse is unaware of all the income of the other spouse. The spouse who is in the dark still must generally pay the tax bill even if the couple divorces. But there may be “innocent spouse” relief.

Tax Breaks for Small Businesses

You don’t have to be a large business to benefit from tax breaks. Here are 3 ways that eligible small businesses can save on taxes.