The United States has a big budget. We have to pay for things like schools, roads, hospitals, the military, government employees, national parks, and so forth. The only way to…

Prepaid tuition plans allow parents, grandparents and others to prepay future tuition at eligible public and private colleges or universities at today’s tuition rates. Locking in today’s prices may sound…

All 529 college savings plans have fees and expenses. Not only do these charges vary among 529 plans, but also they can vary within a single plan. Like mutual funds,…

There are two types of 529 plans—college savings plans and prepaid tuition plans. Both offer tax-advantages for families saving for college (their name comes from the section of federal tax…

U.S. Series EE savings bonds issued after 1989 or Series I saving bonds are another tax-advantaged way to save for college. Advantages Backed by the full faith and credit of…

Colonial and early U.S. taxes went through various changes until the first income tax was established by the Revenue Act of 1861. The purpose of this income tax was to…

Finding your tax bracket is actually pretty easy. First you need to know your taxable income. Taxable income is your adjusted gross income (AGI) minus your standard or itemized deductions.…

You might be on your last dollar, but it’s not always a reason to sing the blues. In fact, in the strange world of taxation, your last dollar could actually…

The Internal Revenue Service (IRS) is estimated to be the largest federal bureaucracy. It employs about 115,000 people [source: Daily]. Although it might seem daunting to understand such a large…

Ever since the beginning of the Internal Revenue Service (IRS), taxpayers have suspected it of abusing its power, showing favoritism and invading privacy. In some cases, these accusations have been…