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Connecticut State Tax: Overview Property taxes in Connecticut are relatively high. However, Connecticut’s income tax rates don’t reach 7% — regardless of how much you earn. Additionally, some taxpayers will see lower income tax rates next year. Connecticut also has a gift tax and an estate tax, but most residents won’t need to worry about paying […]

Editor’s note: The IRS announced that the deadline is now Nov. 16 for filing tax year 2022 taxes for taxpayers in all but 3 counties (Lassen, Modoc, and Shasta). Winter storms brought record snowfall and widespread flooding throughout California in the early part of this year. As a result of the disaster, the IRS extended

Although IRS rules don’t allow deductions for Roth IRA contributions, you might be able to claim the amount that you put in a traditional IRA. For 2022, you can take a deduction up to the full amount of allowable contributions, which is $6,500 — or $7,500 if you’re age 50 or older – as long

Did you get a payment by direct deposit into your account, but not sure what it is for? No problem, here’s some information that will help you figure that out. It could be: A refund from a filed tax return, including an amended tax return or an IRS tax adjustment to your tax account –

Recently the Taxpayer Advocate Service (TAS) learned that some taxpayers have concerns about callbacks they are receiving from TAS case advocates requesting personal information. These days it’s understandable for anyone to be anxious about verifying that calls are from employees of a legitimate government agency and not scammers. So how can you know if a

Giving away belongings you no longer want or need can bring happiness to others who could use them. An added bonus: You get a tax break for your charitable gifts if you donate to a qualifying organization and itemize your deductions.  However, it’s your job to keep track of the items you give to charity so you can report their

With its homeowner tax breaks and perks, tax season is one of the few times you can get some cash out of your house instead of pouring money into it.  With the steady climb of home prices over the past decade, owning a house in the US is expensive — the Case-Shiller US National Home Price Index has set record highs

Vermont state tax: Overview Vermont has four income tax brackets, and the state still taxes Social Security benefits for some filers. Property taxes are high when compared to most other states, and Vermont also has an estate tax. However, the sales tax rate in Vermont is about average, and many types of essential items are

Rhode Island state tax: Overview Rhode Island state tax is high where property taxes are concerned. The higher-than-average tax rate and home values (compared to other states) can drive up tax bills. However, the sales tax rate in Rhode Island is reasonable, and income tax rates are fairly low compared to many other states, especially