Here's what you should know about income tax, what it is, how it works, how to calculate it and which states don't have it.

Filing taxes can get confusing, especially with all the forms and applications. Whether you file with help from a professional or on your own, calculating the precise total you owe to Internal Revenue ...

The alternative minimum tax (AMT) calculation determines whether a taxpayer must pay an additional amount beyond their regular income tax liability. To calculate AMT, taxable income is adjusted by ...

Adjusted gross income is an important number used to determine how much you owe in taxes. It’s a factor in determining your federal tax bracket and taxable income — the portion of your income subject ...

Your effective tax rate is a good indicator of how well you’ve been managing your tax situation. It’s smart to calculate your effective tax rate each year to help you make adjustments to your ...

After years of paying into the Social Security system, many seniors are surprised to learn that the benefits they receive ...