Bonuses are taxed in the same way “supplemental wages” are from the IRS, which is a flat 22%. Learn more about how these taxes work here.

Get ahead on this year’s tax season or start planning for next year. Discover 10 tips on how to prepare for tax season.

In a Nutshell People with qualifying children can claim the child tax credit on their federal tax returns to help reduce their tax burden. The child tax credit is reverting for the 2022 tax year. If you have dependent children under the age of 17, you may qualify for the child tax credit. This partially... Read More

Note: The following is for informational purposes only and should not be considered tax advice. Please contact a tax adviser for questions about your personal tax situation. With the holidays officially over, tax season will be here soon—whether you’re ready or not. Your 2021 federal tax return must be electronically filed or postmarked by April 18,... Read More

Millions of Americans provide part or full-time care for loved ones—and don’t get paid for this work. In fact, more than 1 in 6 adults in the country who work at a paid job say they also help with the care of an elderly or disabled loved one. On top of other work and family obligations, it... Read More

This article originally appeared on Parent Portfolio and has been republished with permission.  Do you have assets that you want to pass down to your children or grandchildren? Although you mention them in your Will, it still has to be verified in court. Having a family trust avoids this judicial process and is one less... Read More