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By any measure, the tax code is huge. It is over 2,000 pages long, and even longer with footnotes.

While Americans are entitled to take every legitimate deduction to manage their taxes, the Internal Revenue Service (IRS) places limits on your creativity.

Stocks advanced last week as market leadership shifted amid fresh inflation data and quarterly corporate reports starting to roll in.

The reason withdrawals from a Traditional Individual Retirement Account (IRA) prior to age 59½ are generally subject to a 10% tax penalty is that policymakers wanted to create a disincentive to use these savings for anything other than retirement.

Grantor retained annuity trusts (GRATs) gained popularity in 2000 after a favorable ruling by the U.S. Tax Court toward a wealthy family in the retail business.