The 'Rule of 72' is a simplified way to determine how long an investment will take to double, given a fixed annual rate of interest. By dividing 72 by the annual rate of return, investors can get a rough estimate of how many years it will take for the initial investment to duplicate itself. For example, the rule of 72 states that $1 invested at 10% would take 7.2 years ((72/10) = 7.2) to turn into $2. In reality, a 10% investment will take 7.3 years to double ((1.10^7.3 = 2).

Marriage and Family

Tax tips to help families and married couples adjust withholdings, understand filing status, and coordinate tax-favored benefits.

Gifts and Gift Tax


26 September 2009
If you gave any one person gifts in 2009 or 2010 that were valued at more than $13,000, you must report the total gifts to the Internal Revenue Service (IRS) and may have to pay gift tax on the gifts on your Federal income tax return.
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08 August 2009
If you've recently gotten married or plan to marry soon, your financial, legal and income tax situations could be affected. Here are some important elements to consider.
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08 August 2009
Having a qualifying child may enable you to claim several income tax benefits, such as Head of Household filing status, the exemption for a dependent, the Child Tax Credit, the Child and Dependent Care Credit, and the Earned Income Credit.
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08 August 2009
The Child Tax Credit is a credit worth up to $1,000 for each qualifying child on your Federal tax return. If you have 4 children, the credit can cut your Federal income tax bill by up to $4,000.
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08 August 2009
You may be able to take a Federal tax credit for qualifying expenses paid to adopt an eligible child. First, check with your employer about assistance, because some companies offer a program to get back a portion of adoption expenses. The Adoption Credit is not available for any reimbursed expense, but certain amounts reimbursed by your employer for qualifying adoption expenses may be excluded from your gross income.
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