A person's net investment income can play an important role in determining tax liabilities in a given year. In addition to paying taxes on profits from individual investment categories ...

The IRS has announced the new federal income tax brackets for both tax year 2024 and 2025. If you haven’t filed yet for 2024 or are already thinking about what your taxes might look like next year, ...

Fairbanks, J.D., LL.M. In response to federal changes to net operating losses (NOLs) and fluctuating fiscal conditions, several states have recently enacted noteworthy legislation that changes the ...

The gross estate for estate tax purposes consists of the net value ... but the federal capital gains taxes reaches 20%, plus the 3.8% net investment income tax, plus the state capital gains ...

The net investment income tax (NIIT) adds a 3.8% tax on capital gains and investment income. NIIT thresholds have remained fixed since 2013, so more taxpayers are feeling its impact. Large capital ...

your net income will be $90,000. Common tax deductions include: RRSP (registered retirement savings plan) and FHSA (first home savings account) contributions Elected split pension amount ...