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Beyond the joy of homeownership, did you know that owning your own home does great things for your bottom line? It’s true. That’s mainly because the interest you pay on your mortgage is tax deductible.
In the last article, I talked about lowering your taxable income in order to stay or go down into [...]

Ever wonder what a ‘tax bracket’ is and which one you fall into? It’s not as difficult as you might think.
First off, you need to know two things: your filing status and your taxable income. The four filing statuses are: single or married filing separately, married filing jointly, qualifying widow, or head of household. [...]

In this testimony, Burman summarizes the trends in inequality, examines the role the federal tax system has played in mitigating inequality, and discusses the effect of the tax cuts enacted since 2001. He concludes that while the income tax system provides one mechanism of redistributing the gains of our dynamic free-market economy more equitably, the immediate benefits of the recent tax cuts have accrued disproportionately to those with very high incomes and have undermined tax progressivity.