How Are My State Taxes Spent? More in Fun Facts 8 things you think are tax deductible that aren'tVideo: How your tax dollars are spent10 Things You Won't Believe Are TaxedSeven things you didn't know about taxes11 Strange State Tax Laws...
Working hard all year to help your company meet its annual goals deserves a reward, and you've definitely earned that bonus. But bonuses count toward your income for the year, so they're subject to income taxes. Read on to learn how much tax you can expe
A 1099 contractor is a freelancer who completes work for your company on an as-needed basis. They aren't full-time employees, so they don't qualify for a salary or benefits. Instead, you pay them based on the agreement you outlined with that individual. 1099 contractors are usually hired ...
Social Security benefits are partially taxable depending on your filing status and other income. To calculate the portion of your Social Security that is taxable, first take 50% of the amount in box 5 from Form SSA-1099 (your Social Security received). A
Non-qualified annuities:Annuity contributions made with after-tax money are not taxable when distributed. In this type of annuity only the earnings are taxable during the distribution phase. Earnings are taxed at ordinary income rates, and you may be hit withthe net investment income tax of 3.8...
What are the rules for reporting taxes on Venmo? If Venmo or another third party sends you a Form 1099-K, you only need to report the transactions if those payments represent income. Whether you’re freelancing, running an online store, or offering dog-walking services, any money you earn...
understanding investment types how government bonds are taxed whether they're issued at the federal, state, or local level, all government bonds have some sort of tax exemption. 4 minute read points to know bonds issued by federal governments may be exempt from state and local taxes. bonds ...
Tax filers are required to indicate their filing status—this affects the rate at which your income is taxed, so it’s important to choose the right status for your situation. The 5 filing statuses are: Single:For those who are unmarried or legally separated from their spouse on the last ...
when trading. Dividends and interest payments from ETFs are taxed like income from the underlying stocks or bonds they hold. For U.S. taxpayers, this income needs to be reported onForm 1099-DIV.18If you profit by selling shares in an ETF, that is taxed, like when you sell stocks or ...
Zero-coupon municipal bonds, which are bought at a discount because they do not make any interest or coupon payments, don’t have to be taxed. In fact, most aren't. As long as you’re investing in a local municipal bond, taxes won’t be a concern. This provides a big advantage over...