Calculating the precise amount you owe to the IRS takes some time. How much varies depending on where you live and work. Here's how income tax works.

Determining whether your revenue stream qualifies as hobby income isn’t always easy. So, it is important to know your income type and how to claim it on your tax return.

The reason provisional income should concern many is that it determines how much of your hard-earned Social Security benefit could be taxed, reducing the net amount you actually receive.

If you don’t know what Net Investment Income Tax (NIIT) is, you’re not alone. This relatively new tax began a little over a decade ago but the number of taxpayers subject to the tax has ...

Learn all about retirement income and its various components, types, the factors that impact it, and effective planning & managing strategies. advertisement. Finance Strategists.