T-Taxes?!

How do I know if I should file a tax return? What does AGI (adjusted gross income) mean? How do I know my tax bracket and tax rate? What forms do I use?

To build and maintain a country’s infrastructure, fund public services, and support governmental operations, a government will collect taxes on some form of money received by taxpayers – whether that be salary, investment gains, or purchase of goods. In the United States, the Internal Revenue Service (IRS) is the federal entity responsible for the enforcement of tax laws and the collection of federal taxes, while each state holds the right to impose state/local taxes. The US tax system is also progressive, meaning that residents with a higher income pay tax at higher rates than those who earn less.

The resources in this tab aim to guide and help you better understand the ins and outs of tax terms and different strategies to approach tax planning.