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Federal Income Tax Tables 2010 will be the last year for most tax breaks. Many tax breaks and stimulus plans expire at the end of this year. All taxpayers can expect to pay more in taxes come 2011. This will be difficult for most of us; we have all become accustom to lower taxes during …
We will start off with the basics and then get into actual numbers. First of all we start with a filing status category. We have a few to choose from. The filing statuses are; Married filing jointly or Qualifying widow(er) filing status, Married filing separately, Single filing status, and Head of household filing status. Single …
If you are a working American then chances are you are going to be required to file an annual federal income tax return. The most common income tax return is the Form 1040. If you are a United States citizen and you find that you may not have to file a return, the IRS suggests …
Tax Free Gift Limit Federal Tax Withholding Estimate If you don’t already know, I wonder if you’ll be surprised to find out that giving isn’t always free! To be clear, the tax free gift limit only applies to gifts of cold, hard cash. At first this sounds preposterous. How dare the IRS tell me what …
Top Ten Tax Mistakes for 2010, 2011Have you ever taken a test and became paralyzed mentally, forgetting how to do even the simplest math problems? This anxiety can also occur when preparing to file income tax forms. We get nervous, freak out, and make mistakes filling out our tax documents. I Need to Get a …
What is the FICA Tax Rate?Most employers will need to know what the FICA tax rate is. If you are an employer asking yourself, what is the FICA tax rate? The answer is 7.65% on gross earnings. The next question you may have as an employer is, how is that split between social security and …
Are you wondering where your tax rebate check is? Is it just slow, or is it lost? There are a couple of things to mull over before we can make any big conclusions. Whether you’re feeling that it’s been far too long and you’re getting eager to see some of your money, or you’re just …
Over 50% of marriages end in divorce in the United States. Many divorce decrees include provisions for the payment of alimony. The IRS takes the position that such payments constitute a form of income and create an alimony tax deduction for the person making payments. Annual Gift Tax Exclusion Amount According to the IRS, alimony …
I run a small business here in the United Kingdom and over the last 24 months or so it has started to become very popular and very much in demand. I have always produced my own accounts however with so much paperwork that is now being accumulated due to the increased levels of business activity …