https://www.khanacademy.org/math/financial-mathematics-tx-teks/x647545bbd61df4a7:taxes-and-tax-forms/x647545bbd61df4a7:federal-income-tax/v/filing-federal-taxes 2025-02-10T16:06:46.170958301Z Filing federal taxes Filing federal income taxes means knowing when you have to file, which tax form to use, and choosing the right status to get the best deductions. You need to file, even if your income is low, to get possible rebates and credits, and remember to report all income types and not miss the deadline. Sal Khan video https://cdn.kastatic.org/ka_thumbnails_cache/64092222-7766-4df7-9446-c2f8e4860bb1_1280_720_base.png Filing federal taxes Filing federal income taxes means knowing when you have to file, which tax form to use, and choosing the right status to get the best deductions. You need to file, even if your income is low, to get possible rebates and credits, and remember to report all income types and not miss the deadline. https://cdn.kastatic.org/ka-youtube-converted/hJ-bXn8wvIs.mp4/hJ-bXn8wvIs.mp4 303 Federal income tax https://www.khanacademy.org/math/financial-mathematics-tx-teks/x647545bbd61df4a7:taxes-and-tax-forms/x647545bbd61df4a7:federal-income-tax/a/how-to-choose-your-filing-status-and-form 2026-05-11T17:50:46.998947588Z How to choose your filing status and form If you earn income in the United States, you’ll need to file a federal income tax return each year. Filing taxes is your opportunity to calculate how much you owe, claim deductions and credits you’re eligible for, and—if too much was withheld from your paycheck—maybe get a refund. article https://www.khanacademy.org/math/financial-mathematics-tx-teks/x647545bbd61df4a7:taxes-and-tax-forms/x647545bbd61df4a7:federal-income-tax/e/filing-status-and-form 2025-02-10T16:06:46.170958301Z Filing status and form Practice understanding of filing federal income tax returns, understanding filing status, and common misconceptions. Elvira Valdez exercise https://www.khanacademy.org/economics-finance-domain/core-finance/taxes-topic/taxes/v/tax-deductions-introduction 2020-06-23T07:22:43Z Tax deductions introduction Understanding what a tax deduction is Sal Khan video https://cdn.kastatic.org/googleusercontent/cjrMBiv7MBj40FfmvnSxVitXnAkzM-0GO01omBJL1mpInjgTAd7JvGDwux1-jez-eaxVTCu9TtlqqRc0qsKE87cH Tax deductions introduction Understanding what a tax deduction is https://cdn.kastatic.org/ka-youtube-converted/GypHy3gnG5E.mp4/GypHy3gnG5E.mp4 210 Federal income tax https://www.khanacademy.org/college-careers-more/personal-finance/pf-taxes/pf-personal-taxes-tutorial/v/standard-and-itemized-tax-deductions 2020-06-23T07:22:42Z Standard and itemized tax deductions Get a better understanding of how deductions work and which ones are right for you. Sal Khan video https://cdn.kastatic.org/googleusercontent/ZCdwTudJg6e6n-P2gsaUborP4izvMsGo71pvEVlX9dNYWcLXcP7VHkWpn2grt4TUP1KoJLQP9NswyHBuBLSFTBw Standard and itemized tax deductions Get a better understanding of how deductions work and which ones are right for you. https://cdn.kastatic.org/ka-youtube-converted/Pm9hS2US8k4.mp4/Pm9hS2US8k4.mp4 196 Federal income tax https://www.khanacademy.org/math/financial-mathematics-tx-teks/x647545bbd61df4a7:taxes-and-tax-forms/x647545bbd61df4a7:federal-income-tax/v/tax-credits 2025-02-18T16:33:15.582145085Z Tax credits Tax credits directly reduce the amount of tax you owe and can sometimes lead to a refund. Common credits include the Child Tax Credit, Earned Income Tax Credit, and education credits like the American Opportunity Credit. Unlike deductions, which lower taxable income, credits provide a dollar-for-dollar reduction in your tax bill. Sal Khan video https://cdn.kastatic.org/ka_thumbnails_cache/fa8e32a1-4573-4e2c-b146-f6f50fee905e_1280_720_base.png Tax credits Tax credits directly reduce the amount of tax you owe and can sometimes lead to a refund. Common credits include the Child Tax Credit, Earned Income Tax Credit, and education credits like the American Opportunity Credit. Unlike deductions, which lower taxable income, credits provide a dollar-for-dollar reduction in your tax bill. https://cdn.kastatic.org/ka-youtube-converted/4gYvlMwvdnw.mp4/4gYvlMwvdnw.mp4 294 Federal income tax https://www.khanacademy.org/math/financial-mathematics-tx-teks/x647545bbd61df4a7:taxes-and-tax-forms/x647545bbd61df4a7:federal-income-tax/a/tax-deductions-and-credits 2025-02-05T19:06:08.913805411Z Tax deductions and credits Filing taxes can feel confusing, but knowing how to use **tax deductions** and **tax credits** can help you save money. Both can lower the amount of taxes you owe, but they work in different ways. In this article, we’ll break it down, explain how to decide between the **standard deduction** or **itemizing**, and show you how deductions and credits can help. article https://www.khanacademy.org/math/financial-mathematics-tx-teks/x647545bbd61df4a7:taxes-and-tax-forms/x647545bbd61df4a7:federal-income-tax/e/tax-deductions-and-credits 2025-03-03T21:16:39.209247789Z Tax deductions and credits Practice understanding of tax deductions (itemized and standard), and tax credits as methods of lowering your tax liability. Elvira Valdez exercise https://www.khanacademy.org/math/financial-mathematics-tx-teks/x647545bbd61df4a7:taxes-and-tax-forms/x647545bbd61df4a7:federal-income-tax/v/marginal-and-effective-tax-rates 2026-01-16T17:30:34.33706213Z Marginal and effective tax rates Many people think moving into a higher tax bracket means all their income is taxed more. That myth comes from misunderstanding marginal vs. effective tax rates. Sal Khan video https://cdn.kastatic.org/ka_thumbnails_cache/85356718-a89a-441c-b5d2-63b56606da17_1280_720_base.png Marginal and effective tax rates Many people think moving into a higher tax bracket means all their income is taxed more. That myth comes from misunderstanding marginal vs. effective tax rates. https://cdn.kastatic.org/ka-youtube-converted/5YJcyw3r6Ww.mp4/5YJcyw3r6Ww.mp4 208 Federal income tax https://www.khanacademy.org/math/financial-mathematics-tx-teks/x647545bbd61df4a7:taxes-and-tax-forms/x647545bbd61df4a7:federal-income-tax/e/marginal-and-effective-tax-rate 2026-06-26T15:40:50.739424638Z Compare marginal and effective tax rate Practice understanding of the difference between the marginal and effective tax rate and their misuse in advertising. Elvira Valdez exercise https://www.khanacademy.org/math/financial-mathematics-tx-teks/x647545bbd61df4a7:taxes-and-tax-forms/x647545bbd61df4a7:federal-income-tax/v/capital-gains-tax 2026-01-16T17:30:34.33706213Z Calculating capital gains tax Capital gains tax is the tax you pay on the profit from selling an asset, such as stocks or real estate. The tax you pay depends on how long you’ve owned the asset. If you hold the asset for one year or less, the gain is short-term, while holding it for more than one year makes it a long-term gain, which is usually taxed at a lower rate. Sal Khan video https://cdn.kastatic.org/ka_thumbnails_cache/c06a6bfe-a527-437a-b488-cf521b4e46d2_1280_720_base.png Calculating capital gains tax Capital gains tax is the tax you pay on the profit from selling an asset, such as stocks or real estate. The tax you pay depends on how long you’ve owned the asset. If you hold the asset for one year or less, the gain is short-term, while holding it for more than one year makes it a long-term gain, which is usually taxed at a lower rate. https://cdn.kastatic.org/ka-youtube-converted/ZYioN1rIHZE.mp4/ZYioN1rIHZE.mp4 273 Federal income tax https://www.khanacademy.org/math/financial-mathematics-tx-teks/x647545bbd61df4a7:taxes-and-tax-forms/x647545bbd61df4a7:federal-income-tax/e/calculate-capital-gains-tax 2026-06-29T19:40:46.038950604Z Calculate capital gains tax Practice understanding and calculation of capital gains tax Elvira Valdez exercise https://www.khanacademy.org/math/financial-mathematics-tx-teks/x647545bbd61df4a7:taxes-and-tax-forms/x647545bbd61df4a7:federal-income-tax/v/calculating-tax-on-interest 2026-01-16T17:30:34.33706213Z Calculating tax on interest You pay taxes on interest income you earn from sources like savings accounts, bonds, or certificates of deposit. The government includes this interest in your taxable income and applies your regular income tax rate to it. Sal Khan video https://cdn.kastatic.org/ka_thumbnails_cache/35f1d786-999a-4229-b85e-ed912a3ce270_1280_720_base.png Calculating tax on interest You pay taxes on interest income you earn from sources like savings accounts, bonds, or certificates of deposit. The government includes this interest in your taxable income and applies your regular income tax rate to it. https://cdn.kastatic.org/ka-youtube-converted/xrnsCEuEHsI.mp4/xrnsCEuEHsI.mp4 274 Federal income tax https://www.khanacademy.org/math/financial-mathematics-tx-teks/x647545bbd61df4a7:taxes-and-tax-forms/x647545bbd61df4a7:federal-income-tax/e/calculate-tax-on-interest 2026-06-29T19:40:46.038950604Z Calculate tax on interest Practice understanding of taxation of interest. Elvira Valdez exercise https://www.khanacademy.org/math/financial-mathematics-tx-teks/x647545bbd61df4a7:taxes-and-tax-forms/x647545bbd61df4a7:federal-income-tax/v/calculating-savings-when-paying-pre-tax 2026-05-28T17:30:50.947019931Z Calculating savings when paying pre-tax Using pre-tax dollars to pay for expenses allows individuals to avoid paying income tax on that money, resulting in significant savings. This approach is more efficient than using after-tax dollars because it reduces the total amount of gross income needed to cover the same cost. Sal Khan video https://cdn.kastatic.org/ka_thumbnails_cache/05e95be1-bf33-4691-9992-3a763c7a8247_1280_720_base.png Calculating savings when paying pre-tax Using pre-tax dollars to pay for expenses allows individuals to avoid paying income tax on that money, resulting in significant savings. This approach is more efficient than using after-tax dollars because it reduces the total amount of gross income needed to cover the same cost. https://cdn.kastatic.org/ka-youtube-converted/QxVKAu-SbrE.mp4/QxVKAu-SbrE.mp4 150 Federal income tax https://www.khanacademy.org/math/financial-mathematics-tx-teks/x647545bbd61df4a7:taxes-and-tax-forms/x647545bbd61df4a7:federal-income-tax/e/calculate-savings-by-paying-pre-tax 2026-06-29T19:40:46.038950604Z Calculate savings by paying pre-tax Practice calculating the impact of paying with after-tax dollars versus pre-tax dollars for items such as medicine, services, and investments. Elvira Valdez exercise