Posts tagged income tax
Additional Medicare Tax Under the Affordable Care Act
Additional Medicare Tax Under the Affordable Care Act

One new tax that has been around the last few years is the Additional Medicare Tax. You might be required to pay this tax. This tax is generally required of higher income Americans. If you are required to pay this tax, you might want to learn more about it. You'll definitely need to know how much tax you're liable for under the new tax. In addition, you might be interested in learning what that money is going toward.

The following is some key information to know about this relatively new tax.

Read More
Personal TaxesKatherine Davis income taxComment
Everything You Need to Know about Advance Tax
Everything You Need to Know about Advance Tax

There are some people who prefer to pay it in advance so they can straighten out their bookkeeping and avoid penalties. Advance tax or earn tax is paid prior to the end of the year instead of waiting for year-end to pay the income tax in a lump sum.

Read More
Personal TaxesCheryline Lawsonpersonal tax, income taxComment
What You Need to Know About Paying Taxes on Stocks
What You Need to Know About Paying Taxes on Stocks

Before you begin to invest, it's important to understand how paying taxes on stocks and paying income tax work in your country. That way you are thoroughly ready for tax day. Investing involves financial transactions that affect your income and capital gains. As a beginner, it's usually difficult to know which state, federal, and local tax laws apply to your situation.

Read More
Personal TaxesBlaine Koehntax day, income taxComment
What is Considered Taxable Income For The Average Earner?
What is Considered Taxable Income For The Average Earner?

In accounting terms, your taxable income refers to the income amount used to calculate your income tax in a single year, also called the adjusted gross income (AGI). The AGI refers to the individual’s total income minus allowed exemptions and deductions.

Read More
Personal TaxesCarlie Lawsonpersonal income tax, income taxComment
Tax Day Survival Tips for a Better Return
Tax Day Survival Tips for a Better Return

While it may seem daunting at first, all it takes to survive tax season is organization and determination. You can and you will be able to get this done. Just take a deep breath and give yourself a little pep talk before you begin. Tax season doesn’t have to be quite so taxing if you follow these tax day survival tips.

Read More
Tax TipsCarla Turchettiincome tax, tax filingComment