Tax Blog - Page 2

Married Filing Separately and the Child Tax Credit

MFS gets the CTC but the phase-out threshold drops to $200K from MFJ's $400K.

Is the Child Tax Credit Refundable in 2026?

Partially. Up to $1,700 is refundable as the ACTC. The remaining $500 is non-refundable.

How Much Child Tax Credit Will I Get in 2026?

Worked examples and the phase-out formula to estimate your CTC by income and filing status.

Married Filing Jointly vs Separately: How to Decide in 2026

MFJ wins for most couples. MFS wins for student loans, medical expenses, and liability.

OBBBA and Married Filing Separately: The Complete Exclusion Guide

MFS loses tips ($25K), overtime ($12.5K), and senior ($6K) deductions entirely. No exceptions.

Married Filing Separately and Student Loans: IDR and PSLF Impact

MFS lowers IDR payments but costs you OBBBA deductions, EITC, and wider brackets.

Can You Get the EITC Filing Separately? The MFS Rules

Since 2021, MFS can claim EITC if you lived apart 6+ months and have a qualifying child.

The Marriage Tax Penalty in 2026: Does It Still Exist?

Mostly eliminated by TCJA/OBBBA, but the 37% bracket still creates a penalty for high earners.

Married Filing Separately in Community Property States

The 9 community property states require 50/50 income splitting on MFS returns.

Part-Year Resident Taxes: How Moving States Affects Your Return

File part-year returns in both states. Each taxes only the income earned while you were a resident.

The 183-Day Rule: State Tax Residency Explained

183+ days may make you a resident. Domicile vs statutory residency, plus snowbird strategies.

Can Two States Tax the Same Income? Credits and Reciprocity

Resident credits and reciprocity agreements prevent most double taxation.

Moving for Retirement? A Tax Checklist Before You Go

9-item checklist: income tax, SS, pensions, property tax, sales tax, estate tax, and more.

States That Don't Tax Retirement Income: The 2026 List

9 no-income-tax states plus others that exempt Social Security, pensions, or both.

Remote Work and State Taxes: Where Do You Owe?

Generally your state of residence. But convenience-of-employer rules complicate it.

Military Moves and State Taxes: The SCRA and MLA

Military income taxed only by domicile state. MSRRA extends to spouses.

Capital Gains Tax Brackets for 2026: 0%, 15%, and 20% Rates

LTCG brackets for all filing statuses, plus short-term vs long-term distinction and NIIT.

The $250,000/$500,000 Home Sale Exclusion Explained

IRC 121: own + live in your home 2 of 5 years to exclude gains. Rules and partial exclusion.

Capital Gains on Inherited Property: The Step-Up in Basis

Basis steps up to FMV at death. You owe tax only on gains after you inherit.

Tax-Loss Harvesting and the Wash Sale Rule

Sell losers to offset winners. The 30-day wash sale rule and the $3,000 ordinary income deduction.

Missouri's Capital Gains Exemption: The First State to Go to 0%

Missouri fully exempts individual capital gains from state tax (HB 594, effective 2025).

Washington's Capital Gains Excise Tax: Rates, Exemption, and Surcharge

No income tax on wages but 7%/9.9% excise on LTCG above the exemption threshold.

The 3.8% Net Investment Income Tax: Who Pays It

3.8% on the lesser of NII or MAGI excess over $200K/$250K/$125K. Stacks on CG rates.

How to Reduce Capital Gains Tax: Legal Strategies

8 strategies: hold 1+ year, home sale exclusion, tax-loss harvesting, 0% bracket, and more.