The Motley Fool
MARCH 17, 2024
Image source: Getty Images Ah, New York, the Empire State: home to the Big Apple, cascading waterfalls, and, not so proudly, some of the highest taxes in the nation. Whether you're a city slicker dodging taxis or a country dweller enjoying the serene landscapes, one thing unites all New Yorkers: the quest to lower that pesky tax bill.
The Motley Fool
AUGUST 8, 2023
Image source: Getty Images Have you ever heard that multi-billionaire Warren Buffett pays a lower federal income tax rate than his secretary? Many ultra-wealthy American households pay surprisingly low effective federal income tax rates, and in some cases, no taxes at all. No tax breaks are designed to only benefit billionaires.
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The Motley Fool
MARCH 3, 2024
Image source: Getty Images The goal when filling out your federal income tax return should be to pay what you owe -- but not a penny more. You can make sure this happens by taking advantage of the numerous tax deductions, credits, and other incentives in the lengthy U.S. tax code to make sure your bill is as low as possible.
The Motley Fool
MARCH 13, 2024
Many new and used EVs (and some plug-in hybrids) qualify for EV tax credits that can give you a significant discount at the dealership. Let's look at a few ways to maximize your EV tax credits and get a better price on buying a car in 2024. But many new EVs don't qualify for the full $7,500 EV tax credit.
The Motley Fool
NOVEMBER 10, 2023
Image source: Getty Images Whether you're anxious to get your 2023 tax returns filed or have an annual tradition of dragging your feet, you can make the entire process easier. By breaking up the labor-intensive part of gathering documents, you'll be set and ready to go when tax time rolls around. That's "Week 1." Income of dependents.
The Motley Fool
DECEMBER 23, 2023
Image source: Getty Images Donating to charity is a great way to help worthwhile causes and earn a tax break in the process. You typically don't have to submit this with your taxes. A few things worth noting here: First, all donations have to be to a qualifying tax-exempt organization in order to count. per mile.
The Motley Fool
APRIL 18, 2024
Some hybrids qualify for tax credits For hybrids and EVs, the tax credits can be confusing -- particularly since the rules are constantly evolving. Traditional hybrids don't qualify for the tax credits (worth up to $7,500), but some plug-in hybrids do. You don't need to wait until you file your tax return. Even better?
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