Financial Calculators FAQ
Expert answers to common questions about crypto taxes, mortgage refinancing, tax planning, retirement, and insurance. Each answer links to a calculator or detailed guide.
Crypto Tax
How do I calculate crypto taxes?
Crypto is taxed as property. Calculate capital gains by subtracting cost basis from sale proceeds. Use our Crypto Tax Calculator at /tools/crypto-tax-calculator. Short-term gains (held <1 year) are taxed at ordinary income rates. Long-term gains are taxed at 0%, 15%, or 20% based on your income bracket.
View Calculator/Guide →Are crypto staking rewards taxable?
Yes, staking rewards are taxable as ordinary income at fair market value when received. The FMV becomes your cost basis for future sales. Use our Crypto Staking Tax Guide at /guides/crypto-staking-rewards-tax-guide.
View Calculator/Guide →Do wash sale rules apply to crypto?
Wash sale rules may apply to crypto transactions. The IRS hasn't issued specific guidance, but many tax professionals recommend treating crypto wash sales similarly to stock wash sales. Wait 31 days before repurchasing to avoid potential wash sale issues.
View Calculator/Guide →How are crypto NFTs taxed?
NFTs are taxed as digital assets. Creating and selling NFTs generates ordinary income at fair market value. Purchasing and selling NFTs creates capital gains/losses. Some NFTs may qualify as collectibles taxed at 28% rate.
View Calculator/Guide →Mortgage & Home
When should I refinance my mortgage?
Refinance when rate reduction saves enough to cover closing costs before you move. Typical threshold: 0.5-1% rate reduction. Use our Refinance Break-even Calculator at /tools/refinance-break-even-calculator to calculate months to recoup costs.
View Calculator/Guide →What are mortgage points?
Mortgage points are upfront fees to reduce your interest rate. 1 point = 1% of loan amount, typically reduces rate by 0.25%. Points make sense if you'll stay in the home longer than the break-even period. Use our Points vs Rate Guide at /guides/mortgage-points-vs-rate-guide.
View Calculator/Guide →How much house can I afford?
Use our Home Affordability Calculator at /tools/home-affordability-calculator. Generally, monthly housing costs should not exceed 28% of gross income. Factor in down payment, closing costs, property taxes, insurance, and maintenance.
View Calculator/Guide →Tax Planning
What tax credits can I claim?
Major tax credits include: Child Tax Credit ($2,000/child), American Opportunity Credit ($2,500 education), Lifetime Learning Credit ($2,000), Earned Income Credit (varies by income/family). Use our Tax Calculator at /tools/tax-calculator to estimate credits.
View Calculator/Guide →Should I itemize or take standard deduction?
Standard deduction is $14,600 single, $29,200 married (2025). Itemize if deductions exceed standard: mortgage interest, charitable donations, state taxes, medical expenses >7.5% AGI. Use our Tax Deduction Calculator at /tools/tax-deduction-calculator.
View Calculator/Guide →How do quarterly estimated taxes work?
Self-employed individuals must pay quarterly estimated taxes. Deadlines: April 15, June 15, September 15, January 15. Pay at least 90% of current year tax or 100% of prior year to avoid underpayment penalty. Use our Estimated Tax Calculator at /tools/estimated-tax-calculator.
View Calculator/Guide →Retirement
How much should I save for retirement?
Financial experts recommend saving 15% of income minimum. Start early to benefit from compound growth. Use 401(k) employer match first, then IRA, then additional 401(k). Use our Retirement Calculator at /tools/retirement-calculator.
View Calculator/Guide →When should I take Social Security?
Full retirement age is 66-67. Early claiming at 62 reduces benefits 25-30%. Delaying to 70 increases benefits 8% per year. Use our Social Security Break-even Calculator at /tools/social-security-break-even-calculator to find optimal timing.
View Calculator/Guide →What are required minimum distributions?
RMDs begin at age 73 for Traditional IRAs and 401(k)s. Calculate using account balance divided by IRS life expectancy factor. Penalty for missed RMD: 25% of amount not distributed. Use our RMD Calculator at /tools/required-minimum-distribution-calculator.
View Calculator/Guide →Insurance
How much life insurance do I need?
Recommendation: 10-15 times annual income. Factor in mortgage, debts, children's education, spouse's income needs. Term life is most affordable for most families. Use our Life Insurance Calculator at /tools/term-life-insurance-calculator.
View Calculator/Guide →What is umbrella insurance?
Umbrella insurance provides liability coverage above your home/auto policy limits. Recommended for high net worth individuals, rental property owners. Typical cost: $150-$300/year for $1 million coverage. Use our Umbrella Insurance Guide at /guides/umbrella-insurance-guide.
View Calculator/Guide →