Tax Withholdings and Your W-4
Did you get a large refund this past April? More than $1000? Time to sit down, sip your beverage, and learn a bit about how to adjust your withholdings. Full story
Articles from: July 2011
Statistics of Income Division’s Proposed Tax Year 2010 Forms
IRS just recently revealed that the Statistics of Income is releasing some of the proposed… Full story
Can You Deduct 401K Savings From Your Taxes?
Contributions you make to your 401(k) plan can reduce your tax liability at the end of the year as well as your tax withholding each pay period. 401(k) plan contributions. Full story
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World Heavyweights: A Countdown Of The Top 15 Most Heavily Taxed Countries In The World
Sweden tops the list of the most heavily taxed countries in the world, while the… Full story
Can You Claim Your Elderly Parents on Your Taxes?
The Internal Revenue Service (IRS) allows you to claim your elderly parent as a dependent on a tax return as long as no one else does. If you choose to claim an exemption for your parent, you must also ensure that you are not an eligible dependent to another taxpayer. This restriction is effective even if the taxpayer who can claim you as a dependent chooses not to. Full story
Bitcoins: The Taxless Currency
In today’s economy, the value of the dollar is weaker than ever and the thought of a digital currency is becoming more of a reality with the recent introduction of bitcoins. Full story
What’s the Cost of Your American Dream?
I love where I live in North Carolina – the mountains and the beach are only a couple of hours away, depending on which direction you go. To have different landscapes and cities around definitely is a plus in my book. Sometimes though I wonder what it would be like if we moved back to the beach or if we tried out mountain living. I’m still trying to figure out where would be the ideal place. Full story
20 Tax Facts That Will Astonish You
Business Insider has previously reported on 20 Tax Facts That Will Astonish You. We’ve taken the time to expound on a few of the most interesting ones. Full story
A Marginal Rate Surprise
Think you understand Marginal Rates (aka “Tax Brackets”)? As this chart shows, it’s the amount of federal tax you pay on the next dollar of income, changing as that income goes up. But, this doesn’t quite tell the whole story. Full story
Can I File Exempt & Still Get a Tax Refund?
The IRS only issues tax refunds when you pay more tax during the year than you actually owe. When you file exempt with your employer for federal tax withholding, you do not make any tax payments during the year. Without paying tax, you do not qualify for a tax refund unless you qualify to claim a refundable tax credit. Full story
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