Tax credits are generally more valuable than tax deductions. There are many types of each: nonrefundable, partially refundable and fully refundable tax credits, and standard vs. itemized deductions, ...

A progressive tax structure allows low-income earners to pay a smaller proportion of their income as tax compared to high-income individuals, who are taxed at progressively higher rates. A progressive ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Robert Kelly is managing director of XTS Energy LLC, and has more than three decades of ...

Many business owners eventually face the question of how their investments should be taxed. Choosing between tax-free, tax-deferred and taxable options — or blending them — can shape how your money ...

It's tax season, and Americans are confronted by a lot of tax jargon when preparing their returns. Stream NBC 5 for free, 24/7, wherever you are. Two types of tax breaks stand out among all the lingo: ...

Two types of tax breaks stand out among all the lingo: credits and deductions. Each lowers your tax liability, which is the total annual tax owed on your income. (That figure can be found on line 24 ...