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
Marriage changes many aspects of your life. One of these is the tax filing process. Your marriage can affect your filing's status, of course, and the deductions and credits you...
Posted by Elliot Kravitz, ATP on 04/26/2021
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
In the US tax system, income taxes are progressive, so you pay different types of taxes. Knowing the federal tax brackets for fiscal 2020 and 2021 can help you maximize your tax savings...
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
Some of people are unaware of income tax brackets but they are necessary for your social security. You have to make payments on time so that you do not have to face any hassle in the...
Posted by Flynn Financial Group Inc on 12/13/2018
