2019 Income Tax - Rates, News & Discussion
Marine preparing his taxes
Being on the receiving line of an Internal Revenue Service agents phone call or mailing informing you that your tax returns are being audited is a nightmare that millions of Americans have undoubtedly had. A tax audit can turn an otherwise quiet life upside down and cause undue stress on an individual and their family.
Determining whether or not you have to pay taxes on your Social Security benefits really comes down to two factors: 1) your tax filing status, and 2) the amount of your "combined" income. Generally speaking though, you will not have to pay any taxes on your Social Security benefits at all, if that is your only source of income.
Have you ever made contributions to an IRA account, then wondered if you can deduct that investment from your taxes? The simple answer yes, you can, but only in some cases.It all depends on what kind of IRA you contribute to, and in some cases your income level, and if you are covered by an employer-run retirement account or not.
Most people's goal every tax season is to figure out how to owe as little in taxes as possible. The purpose of this entry is to help you with that. The goal here is to show you a handful of ways that you can potentially lower your tax bracket through various personal deductions, thereby lowering the percentage you are taxed at, and save you money.
The Child Tax Credit is one of the most straight forward tax credits that are available for Americans of all tax brackets. First enacted in 1997 and expanded in 2001, this credit has helped offset the cost of raising an eligible child under the age of seventeen.
Ever wonder what would happen if you just skipped out on filing your taxes? You get your paperwork back from your employer, either in the mail or through e-mail, and just think too yourself, ugh, not again. I don't want to go through this hassle again. So you just let the task fade back to a darker corner of your mind, and forget about it.
If you receive a 1099-MISC tax form, these guide is for you. Independent contractors, small business owners, and otherwise self-employed folks, use these 5 straightforward steps to fully take care of your tax filing and payment obligations.
Unless you live in Delaware, Montana, Oregon, or New Hampshire, you are well aware of exactly what your state (and/or local) sales tax is. Makes sense; you've had to pay it on almost every single item you've ever purchased from a retailer.
Are you thinking of going to a tax professional to have them help you file your taxes? That is an option, and a good one for many people, but it doesn't have to be the only option for many others. The IRS offers free e-filing for basic returns and has partnered with e-file.com to offer two more low-cost services for individuals and businesses who need additional services.
Instituting a national sales tax has been debated, albeit halfheartedly, for years now. While I don't foresee our representatives in Washington tackling this issue anytime soon, it is still something that I've spent a lot of time thinking about, especially when it comes to the question of whether it will help or hurt the middle and lower classes.
Income Tax Rates News & Opinion Articles
|Fri Mar 25, 2016 | taxfoundation.org|
Introduction Every year, the IRS adjusts more than 40 tax provisions for inflation. This is done to prevent what is called “bracket creep.” This is the phenomenon by which...
|Wed Apr 01, 2015 | doughroller.net|
Just as the sun is setting on the 2014 income tax filing season, it’s time start looking toward the year that’s already in progress. To get the ball rolling, let’s look at...
|Sun Mar 15, 2015 | investorplace.com|
Each year changes are made to federal tax brackets. Tax brackets are the cut-offs in taxable income before your tax rate jumps to the next higher rate. Adjustments are made...
|Thu Oct 16, 2014 | investopedia.com|
The tax man will cometh every year for every American with an income above a certain level. But just how much money does one have to receive in order to be required to...
Income Tax Rates Videos
|Fri Jan 18, 2019|
There is a common misunderstanding about how tax brackets work in the US, and it’s causing us to have uninformed...
|Tue Apr 09, 2013|
What are tax brackets and how do they work?
When you're pulling in the big bucks, it may look like your income...
|Wed Apr 18, 2012|
Cenk Uygur breaks down a series of graphs discussing tax rates including: who did the Bush tax cuts benefit,...
|Wed Jan 18, 2012|
Your marginal tax bracket is really important and I want to take just a few minutes to tell you what exactly it is....