When you know your income tax rate, you can then calculate your tax liability. The income tax rate will take into consideration expected and unexpected income, as well as investment income. Once you know how much to set aside for taxes, you can better plan your other expenses. ...read more
The same tax tables that were used in 2010 will also be used in 2011. Note that the tax tables only go up to $99,950, so those with incomes over $100,000 must use a separate sheet to calculate their tax. ...read more
Figuring payroll tax is challenging, but it can be done. There are a few payroll taxes and they are each figured differently. Besides Federal and State (if applicable) income tax, there are Medicare and Social Security taxes, collectively known as FICA. Tables and charts are available to help with the calculations. ...read more
Filing your state income tax is a requirement that needs to be completed on an annual or quarterly basis. It is important to understand your specific state’s filing process, prior to filing your state income tax. Once this information is accessed, proceed with filing your income tax in your state. ...read more
In previous years you would have to stand in line for hours at DMV just to pay your car tax. Fortunately, times have changed and so has the way you can pay your car taxes. Nowadays you can now pay your taxes from the comfort of your own home through the Internet. Paying taxes online will save you a lot of hassle and time. ...read more
If you are like many people, you may be wondering how much you are going to owe or be refunded on your income tax return. There are a few simple and easy methods that will help you to determine the amount of your income tax refund in advance so that you can prepare yourself in case you have to pay to the IRS. ...read more
A tax identification number is an IRS-issued identifier for businesses to use when interacting with federal agencies. Any business that pays taxes will need this identification number to use when filling out tax forms. There are several ways to obtain a tax identification number for businesses that do not have one. ...read more
Finding out that you're owed money from unclaimed tax refunds can be a great way to get some extra cash in your pocket. Unclaimed tax refunds are more common than many people think. If a refund was undeliverable because of an address change or other reasons, it gets sent back to the IRS. ...read more
It may seem simple enough, but knowing if you owe state taxes isn't always cut and dry. Those who have relocated may not realize they owe state taxes in the last state they lived in. To avoid an unpleasant surprise years later there are a few ways to find out if you owe taxes. ...read more
Depreciation tax laws are a great way for homeowners that rent out their homes to use this tax write-off as a way to counter the cost of the upkeep of their property. There are certain requirements that you need to meet in order to qualify for depreciation tax write offs. ...read more
Each country has separate tax rates for corporations and individuals. Some countries even have different forms of consumption taxes, called VAT (value added tax). VAT is also known as sales tax. All nations have property and excise taxes. Excise taxes are added to items such as alcohol and cigarettes. ...read more
When you are conducting a business, you should familiarize yourself with all the tax laws. Importantly, tax laws can be confusing, but have to be followed to keep yourself within the guidelines of the law. One of the most important things needed is a sales tax ID number. ...read more
If you owe back taxes and the amount is more than you can pay, then you may need to request IRS tax resolution with a payment plan, which allows you to pay your tax debt monthly until it's paid off. It's a way to resolve your debt, because while you are making your payments, the IRS cannot garnish your paycheck or your bank account. However, penalties and interest will be added to your payments. ...read more
One of the most anticipated times of the year is tax season. Taxes must be filed in a timely manner accordingly and accurately to receive that much anticipated tax refund. You must have all of your financial information and employment data to file taxes, but filing taxes themselves often can be a piece of cake. ...read more
Each and every person is required to pay a certain amount of taxes at the end of each year. Taxes must be paid out of the income you receive and for certain types of property you own. Property tax is a type of tax that is paid on a property you own, such as your home. ...read more
