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In simpler times, all you needed to welcome a new baby into your family was love and an empty drawer in which he or she could sleep. In 2015, babies are expensive and modern parents need a lot of gear: diapers, cribs, strollers and car seats—not to mention child care. The list can seem endless. And, it all adds up fast. The good news is, there are more ways than ever to offset the considerable...

For tax year 2016, the Internal Revenue Service today announced annual inflation adjustments for more than 50 tax provisions, including the tax rate schedules, and other tax changes. Revenue Procedure 2015-53 provides details about these annual adjustments. The tax items for tax year 2016 of greatest interest to most taxpayers include the following dollar amounts: – For tax year 2016, the 39.6...

Income tax may be the last thing on your mind before, during, or after a divorce or separation. However, these events can have a big impact on your taxes. Alimony and changing your name are just a few items you may need to consider. Filing taxes after divorcing or separating can be confusing. Here are some key tax tips to keep in mind if you get divorced or separated: Child Support. If you pay...

Using the correct filing status is very important when you file your tax return. You need to use the right status because it affects how much you pay in taxes. It may even affect whether you must file a tax return. When choosing a filing status, keep in mind that your marital status on Dec. 31 is your status for the whole year. If more than one filing status applies to you, choose the one that...