Single taxpayers If taxable income is: Your tax is: Not over $11,925 10% of taxable income Over $11,925 to $48,475 $1,192.50 + 12% of the excess over $11,925 Over $48,475 to $103,350 $5,578.50 + 22% of the excess over $48,475 Over $103,350 to $197,300 $17,651 + 24% of the excess over $103,350 Over $197,300 to $250,525 $40,199 + 32% of the excess over $197,300 Over $250,525 to $626,350 $57,231 + 35% of the excess over $250,525 Over … [Read more...]
Birthday Benefits Quiz
Remember when you turned 16 and rushed to get your driver's license? Or earned the right to vote at 18 and enjoyed the privileges and responsibilities of adulthood at 21? There aren't many legal changes associated with birthdays after that until you turn 50, and then there are plenty. Can you match these ages to the related federal benefits and tax responsibilities? One age will be used twice. 50 55 59½ 62 65 67 70 73 75 ___ 1. Eligible for full Social … [Read more...]
Do You Need to Adjust Your Tax Withholding?
Once you've filed last year's tax return and can see where your finances are headed this year, it may be a good time to adjust your income tax withholding to help make sure you're having the right amount withheld from your paycheck. Tax withholding is a balancing act. If you have too much tax withheld, you will receive a refund when you file your income tax return. If you prefer to receive more in your paycheck instead, you will need to reduce your withholding. However, if you have too … [Read more...]
Tax Preparation Checklist 2023
View, Download, or Print - 2023TY Tax Preparation Checklist Tax Preparation Checklist - 2023 Tax Year WE MAKE FILING LESS TAXING Copy of both sides of your Driver’s license or State ID. Joint filers need both IDs. (Not necessary if we already have your current and valid IDs on file.) Wage Statements (W-2) and 1099 Forms Pension, IRA, or Annuity Statements (1099-R) Social Security Income Statements (SSA-1099) Interest & Dividend Income Statements (1099-INT & … [Read more...]
Tax Preparation Checklist 2022
View or Download Tax Preparation Checklist 2022 (PDF form)Tax Year Tax Preparation Checklist - 2022 Tax Year WE MAKE FILING LESS TAXING Copy of both sides of your Driver’s license or State ID. Joint filers need both IDs. (Not necessary if we already have your current and valid IDs on file.) Wage Statements (W-2) and 1099 Forms Pension, IRA, or Annuity Statements (1099-R) Social Security Income Statements (SSA-1099) Interest & Dividend Income Statements (1099-INT & … [Read more...]
The Potential Benefits of Roth IRAs for Children
Most teenagers probably aren't thinking about saving for retirement, buying a home, or even paying for college when they start their first jobs. Yet a first job can present an ideal opportunity to explain how a Roth IRA can become a valuable savings tool in the pursuit of future goals. Rules of the Roth Minors can contribute to a Roth IRA as long as they have earned income and a parent (or other adult) opens a custodial account in the child's name. Contributions to a Roth IRA are made on an … [Read more...]
Adjusting Your Tax Withholding
Now that you've seen last year's tax results and can see where this year is heading, it may be a good time to consider adjustments to your income tax withholding. Getting It Right If you have too much tax withheld, you will receive a refund when you file your income tax return, but it might make more sense to reduce your withholding and receive more in your paycheck. However, if you have too little tax withheld, you will owe tax when you file your tax return and might owe a penalty. Two … [Read more...]
Key Retirement and Tax Numbers for 2022
Every year, the Internal Revenue Service announces cost-of-living adjustments that affect contribution limits for retirement plans and various tax deduction, exclusion, exemption, and threshold amounts. Here are a few of the key adjustments for 2022. Estate, Gift, and Generation-Skipping Transfer Tax The annual gift tax exclusion (and annual generation-skipping transfer tax exclusion) for 2022 is $16,000, up from $15,000 in 2021. The gift and estate tax basic exclusion amount (and … [Read more...]
ETFs Are Gaining on Mutual Funds: Here’s Why
Investor demand for exchange-traded funds (ETFs) has increased over the last decade due to some attractive features that set them apart from mutual funds. In December 2021, almost $7.2 trillion was invested in more than 2,500 ETFs. This is equivalent to 27% of the assets invested in mutual funds, up from just 9% in 2011.1 Fund Meets Stock Like a mutual fund, an ETF is a portfolio of securities assembled by an investment company. Mutual fund shares are typically purchased from and sold back to … [Read more...]
Tax Preparation Checklist 2021
View or Download the TAX PREPARATION CHECKLIST 2021 (PDF form) Tax Preparation Checklist - 2021 Tax Year (what you should bring in or send us) 1. Copy of both sides of your Driver’s license or State ID (unless we already have your current, valid ID on file. Joint filers need both IDs.) 2. Wage Statements (W-2) and 1099 Forms 3. Pension, IRA, or Annuity Statements (1099-R) 4. Social Security Income Statements (SSA-1099) 5. Interest & Dividend Income Statements (1099-INT … [Read more...]
- « Previous Page
- 1
- 2
- 3
- 4
- …
- 7
- Next Page »
