Self-employed taxpayers likely need to pay quarterly tax payments and meet key IRS deadlines. Here’s a closer look at how quarterly taxes work and what you need to know when filing your tax returns.
Jeffrey "The Buckinghammer" Levine explains why you might have to pay income tax on what seems to be a federally-backed government fund.
But you may be hit with the marriage tax penalty, meaning you and your spouse pay more taxes as a couple than if you were filing as singles (which you can't do after "I do" … sorry). The penalty only kicks in if your combined income is over $731,200, or if you live in one...
If you are employed by a company, the IRS requires your employer to withhold a portion of your salary to pay your federal taxes. The amount withheld depends on a number of factors—but you do have some control over how much is taken out of your paycheck. The W-4 form you filled o...
Older people after retirement choose to spend money for themselves (e.g. holiday) rather than saving money for their children. Is it a positive or negative development? Give reasons for your answer and include any relevant examples from your own knowledge or experience. Write at least 250 words...
As you enter retirement, don't let confusion about your taxes keep you from enjoying everything Virginia has to offer. With a few exceptions, if a source of
Do You Pay Too Much In Income Taxes? As we head into another grand tax season with many unkowns from the incoming administration, I would like to take this oppourtunity to express my sincere thanks to all of you who have been loyal clients and friends over the past 25 years. But as ...
Do I have to pay tax on my savings in the UK if they are in a pension? Oris pension income taxable? Regrettably, it is. Paying tax on savings when you’ve retired because all your savings are in a pension is a drag, but whatever type of pension you have, a workplace defined benef...
Jane’s Question #1: When do I need to go back to work and how much do I need to earn? This depends on how much Jane and Joe want/need to spend every month. At present, their monthly spending outstrips their income; but, that’s something they could change if they wanted t...
How are you going to pay for retirement? How is everyone else doing it? What is the average retirement income for 2023? Has it changed a lot from past years as we put the pandemic behind us and the economy tries to figure out if things are going to get better or worse? Are you any...