Every state figures out a way to collect revenue in the form of taxes, but not every state is equal in how they go about doing that. Some states have a high sales tax while others have no sales tax at all. This piece will focus on breaking down the best and worst states when it comes to their sales tax.
If you own real estate in the United States, you know all about property taxes. And it stands to reason that you feel each and every time you pay that you might be paying too much. Ever wonder if you can proactively get your property taxes lowered? The simple answer is you can, if you are willing to put in a little effort.
While the federal tax rates are the same for all fifty states, the various states are left to determine what their state income tax rate should be and those numbers are all over the map.
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.
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.
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.
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.
April 15th, otherwise own as Tax Day, is ever nearing. If you're one of the millions of Americans that has decided to put off your filing to closer to deadline day and are trying to jog your memory back into tax filing gear, no worries. That's what this entry is for.
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.
State Taxes News & Opinion Articles
State Taxes Videos