Carry Learning Center

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 [...]

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. [...]

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 [...]

Running a business comes with expenses, but many of them could be tax-deductible. This could help lower your taxable income and reduce the amount you owe. #cta-6::before { background: linear-gradient(135deg, rgba(254, 239, 187, [...]

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 [...]

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 [...]

The standard deduction is a flat amount that you can subtract from your income, while itemized deductions are specific expenses that you can deduct, but you must keep track of your expenses and provide documentation. The choice between claiming the standard deduction and itemizing your deductions will depend on which method gives you the greatest [...]

When tax season rolls around, one of the biggest decisions you’ll make is whether to take the standard deduction or itemize your deductions.  The standard deduction is a fixed amount set by the IRS each year. It’s simple, predictable, and easy to apply. If you choose the standard deduction, your deduction amount is fixed. Itemized deductions, on [...]

If you use part of your home for work, you may qualify for a home office tax deduction. In the US, there are two ways to calculate this deduction: Simplified Method – A straightforward option that lets you claim a set amount per square foot without tracking individual expenses. Regular Method – A detailed approach requiring you [...]