The Tax Cuts and Jobs Act (TCJA) of 2017 capped the deduction for state and local taxes, including property taxes, at a total of $10,000 ($5,000 if married filing separately), starting in 2018.

For example, if someone’s HR consulting business nets $200,000 in 2025 after expenses, their self-employment tax is calculated at 92.35% of that amount, which equals $184,700.

Sometimes, luxury taxes just don't work. A "window tax" was imposed on English homeowners beginning in 1696. The theory was that people with bigger houses had more windows, and therefore should ...

Property tax is a tax on real estate and some other kinds of property. See how to calculate property tax, where to pay property tax and how to save money.

Specific Taxes. These are fixed amounts per unit sold. For example, gas is taxed at 18.3 cents per gallon, regardless of the price per gallon. Excise Taxes on Retirement Accounts ...

What Is a Sin Tax? A sin tax describes a type of tax levied on a good, service, or activity that is viewed as harmful to people’s health and well-being. It ...

The federal estate tax is a tax on your assets after you die. Most estates aren't taxable unless the assets exceed $13.99 million in 2025 or $15 million in 2026.

For instance, if your taxable income (gross income minus any deductions) is $50,000 a year as a single filer, that puts you in the 22% federal tax bracket in 2024. But while 22% of $50,000 is ...