Learn about tax attributes, which are reductions in tax credits, losses, and property basis when debt cancellation is excluded from taxable income.

Explore how nonprofit organizations gain federal tax-exempt status under IRS 501(c) and discover the conditions they must ...

While taxable income and adjusted gross income (AGI) might sound similar, they refer to different stages of your income after certain deductions and adjustments have been applied. AGI starts with your ...

If you don’t know what Net Investment Income Tax (NIIT) is, you’re not alone. This relatively new tax began a little over a ...

Aaron Broverman is the Managing Editor of Forbes Advisor Canada. He has almost 20 years of experience writing in the personal finance space for outlets such as Bankrate, Bankrate Canada, ...

A new $6,000 deduction for senior citizens and less taxes on tips and overtime are some of the biggest changes for your 2025 tax return.