A new problem is beginning to emerge that will surprise many homeowners when they sell their primary residences ...

When you buy something by clicking links within this article, we may earn a small commission, but it never affects the ...

If your mother purchased the home for $100,000 and it's now worth $800,000, gifting the home to you assumes that the tax basis in the property is $100,000, not $800,000 and/or the value at the time of ...

The budget bill does not expand a tax provision that exempts student loan forgiveness received from income taxes in most ...

It’s getting down to the wire, but if you haven’t filed your taxes yet, these 15 experts have tips to make it (at least somewhat) less painful — and more lucrative. From understanding your ...

This question may seem simple, but the answer is not so easy. In fact, there are experts who make their living answering just ...

A SALT exclusion is different from a deduction. In a deduction, the money you spend on state and local taxes is deducted from your taxable income. So it will only partially reduce your federal tax ...

When Florida Gov. Ron DeSantis called for the repeal of property taxes, he was doing something at once novel and familiar. Eliminating the property tax would be unprecedented. Calling for a bold ...

But the tax package produced by the House Ways and Mean Committee won’t actually reduce taxes for all Americans. In fact, it will raise taxes on the poor. According to an analysis by Congress ...

Shelby County Mayor Lee Harris proposed a 2026 budget with a 20% property tax cut, a $5 wheel tax increase, and a 3% employee raise. Harris aims to establish a $40,000 minimum salary for full-time ...

Most homeowners are aware of the homesale exclusion, a provision of the tax laws which provides that homeowners who sell their principal residence typically do not need to pay taxes on as much as ...