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Justin GluskaJuly 25, 2025
How State and Local Taxes Affect Your Investment Returns

When it comes to your investment returns, taxes can take a bigger bite than you might expect. Beyond federal taxes, state and local taxes (SALT) can also affect how much you actually keep. These extra layers of tax vary based on where you live and what types of investments you hold. That’s why understanding how [...]

Jess CatorcJuly 24, 2025
Top 20 Tax Deductions Every Freelancer Should Know for 2025 Taxes

For freelancers, 2025 brings important tax changes that could affect how much you keep from your earnings. The standard deduction has been adjusted for inflation, and some key provisions, like the Qualified Business Income deduction, may begin to phase out for higher earners.  At the same time, a few popular tax credits are set to expire [...]

Jess CatorcJune 23, 2025
Are Money Market Funds Still the Most Tax-Friendly Option in 2025?

Money market funds have long been touted as potentially tax-friendly options, with so-called “dividends” typically reported as interest income. But as the tax and rate environment evolves in 2025, are they still the most tax-efficient choice?  In this article, we’ll review federal and state tax treatment of money market funds, compare them with alternatives like Treasury [...]

JaiyaJanuary 13, 2025
Capital Gains Tax Rates For 2024 & 2025

Capital gains are generally taxed as ordinary income by the IRS, although the tax rate on capital gains can be lower than the tax rate on ordinary income, depending on the circumstances and the jurisdiction. The holding time of a capital asset affects the tax rate applied to any capital gains realized from its sale. [...]

Justin GluskaJanuary 13, 2025
Common Tax Deductions & Credits for Individuals in 2025

Taxes can be confusing, but knowing which deductions and credits you qualify for could mean paying less and keeping more of your money. Whether you’re a parent, a student, a homeowner, or a retiree, there may be ways to reduce your tax bill, depending on your circumstances.  This guide breaks down the most common tax breaks [...]

Justin GluskaJanuary 13, 2025
What Is Adjusted Gross Income?

Adjusted Gross Income (AGI) is a financial term used to describe a taxpayer’s total income minus specific deductions. AGI is calculated by taking your gross income (total income from all sources) and subtracting any allowable tax deductions. This number is then used to determine how much of your income is subject to tax, and which [...]

Jess CatorcJanuary 13, 2025
How Much Is the Standard Tax Deduction in 2024-2025?

Each year, the IRS adjusts the standard deduction to account for inflation. For tax years 2024-2025, these updates may affect how much tax you owe or the amount of income that remains after deductions. The standard deduction is a preset amount that reduces your taxable income without requiring receipts or extra calculations. It’s generally the simpler [...]