Each year, the IRS adjusts over 40 tax provisions for inflation. This is done to avoid "group escalation," when people are pushed into higher income tax categories or have...
Posted by James Financial Services Inc on 09/30/2021
Parents who want their kids to learn proper money management skills must have access to some money. Most gifts are limited in terms of their usefulness because toys will break, or...
Posted by Tiffany Gaskin on 09/26/2021
Don't know what portion of your income goes to taxes and why it doesn't match the rate in the tax table? Here are the basics of how income tax rates work.Introduction –...
Posted by CORE PERFORMANCE on 08/15/2021
After working so hard and waiting for it, you’ve finally gotten a raise, so yay!! But that raise has bumped you into a higher tax bracket because no, the IRS will charge you...
Posted by The TaxAdvocate Group, LLC on 07/31/2021
The 2017 Tax Cuts and Jobs Act (TCJA) was one of the most sweeping tax code revisions in decades. Most of its provisions came into effect on January 1, 2018, and most of the changes...
Posted by Unifirst Financial & Tax Consultants on 07/06/2021
Uncle Sam recently announced the 2021 tax rate in a bid to take care of inflation. The top tax rate will be at 37% for 2021 tax returns filed by taxpayers in the year 2022. However,...
Posted by Unifirst Financial & Tax Consultants on 12/31/2020
From the beginning of 2021, the highest earnings that will apply to the SS (Social security) payroll tax will rise from 137,700 to 142,800 dollarsAccording to the increase in the national...
Posted by Abundant Wealth Planning LLC on 11/19/2020
People with a traditional 401(K) need to pay taxes on their distribution – the ordinary income tax. What you pay is a factor of your tax bracket and age as people below 59½...
Posted by The TaxAdvocate Group, LLC on 10/01/2020
Getting your taxable income is not a straightforward process. You have to sum all your income from various sources and remove your allowable deductions. For people that want to avoid...
Posted by Abundant Wealth Planning LLC on 09/18/2020
