TaxCure Blog

One of the most effective ways to avoid tax-time surprises is to play your tax strategy throughout the year. This includes your investment tax strategy. Remember that investment income is often taxed differently than other income, so it makes sense to include that in your strategy for the coming year. Here are some things to keep in mind:

One of the great things about our retirement account system is that you have the chance to receive tax benefits for setting money aside for the future. This is a great thing since the tax benefits allow you to grow your nest egg more efficiently.

We all pay gas taxes when we fill up at the pump. There’s the federal gas tax and the state gas tax — plus other taxes that local governments might decide to levy. The federal gas tax hasn’t been raised in more than 20 years, and that is starting to cause a problem since inflation hasn’t stopped boosting the cost of things in that time. From materials to wages, it costs more to repair and build new highways and bridges than it did the last time the federal gas tax saw an increase.

Now that tax season is over, many Americans are heaving a big sigh of relief. However, even though tax filing season has come to an end, the scams aren’t done. In fact, the IRS warns of a telephone scam that is perfect for continuing for a couple of months beyond April.

As you know, your tax bill is about more than the federal income tax. You also have to pay state taxes. State taxes differ according to where you live, with some states charging higher rates than others — and some states don’t collect income tax at all (although they might raise revenue from other taxes).