Here's what you should know about income tax, what it is, how it works, how to calculate it and which states don't have it.

New year, new tax filing. Filing taxes may not be the easiest task, especially with its time-consuming forms and applications. Whether you file with help from a professional or on your own, ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Westend61 / Getty Images The annualized income installment method calculates estimated tax ...

U.S. federal income tax has progressive brackets ranging from 10% to 37%. Tax deductions and credits can significantly lower taxable income and tax owed. Understanding adjusted, taxable incomes, and ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Pra-chid / Getty Images If you are a U.S.

Annual gross income Think of this as your salary, or the sum of your wages and tips, plus any income from interest, dividends, alimony, retirement distributions, unemployment compensation and Social ...