After years of paying into the Social Security system, many seniors are surprised to learn that the benefits they receive after retirement may be subject to federal income tax. This is generally ...

If your income is just above the cutoff (MAGI) to qualify for Roth IRA contributions, these strategies will help you meet it ...

After decades of working and contributing to the Social Security system, many retirees assume that the benefits they've earned are exempt from federal income tax — but unfortunately, that's not always ...

Effective tax rate is your average tax rate as a percentage of total income. Marginal tax rate is the tax on your highest dollar earned, not your total income. Historically, top marginal rates have ...

The choice between traditional versus Roth 401(k) contributions could be trickier than you expect, experts say. Many investors only weigh current versus future marginal tax brackets, which is the ...

Income tax is charged on most types of income but tax allowances protect some from the taxman. If you earn money from a job, you will have to pay tax once you breach the tax-free allowance. If you get ...

Filing taxes can be daunting, even overwhelming. Whether you file with help from a professional or on your own, calculating precisely what you owe to the Internal Revenue Service, or what the IRS owes ...