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, ...

When they file their returns this year, high-income taxpayers should be prepared for an additional hit. The net investment ...

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 ...

This is especially important when it comes to the net investment income tax (NIIT). So what is it, and what considerations should retirees make to minimize its impacts? What is the net investment ...

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 ...

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 ...