From ride-sharing apps to the rise of mobile delivery services, many Americans have turned to the gig economy to earn extra money. Currently,36% of employed individualsare independent workers, and this number will only increase. Your business can benefit from self-employed contractors, but it’s...
Eliminating the maximum taxable wage cap, allowing a wider swath of wages to be taxed, which could also shore up the program. Wages now are taxed up to only the first $168,600 earned. Although Americans notoriously resist tax increases, in this case, the majority say they’d rather secure...
Democrats areconsidering a new tax on billionairesthat would help fund their proposed $3.2 trillion social spending package. Although some critics of the plan say it opens the door to tax hikes on a broader swath of Americans, the proposal would only impact taxpayers with more than $1 billion...
7. Put these groups in chronological order of when they received the right to vote: women, Native Americans, white men, Black men. 8. Where is the only place south of the equator where the residents are American citizens? 9. True or false: In terms of the popular vote, Donald Trump ...
Tax collectors can be so painful. You do your best to get your taxes done right, yet the IRS cleverly robs you of your money because you are never quite sure exactly how much to pay! Only years later, does the IRS send you a deficiency letter stating you actually owed X more ad now...
We are aware that businesses are taxed differently from individuals. When a person earns income, they are taxed on a percentage of their entire income; this does not work the same for businesses. Businesses are taxed on profit–not income; therefore, anything classified as a business expense is...
Americans. It would target the richest 0.02% of Americans, applying a 5% surtax on adjusted gross incomes between $10 million and $25 million. An additional 3% surtax would also be applied to those with an adjusted gross income of more than $25 million, bringing the total surtax for them ...
As long as you meet the qualifications for a Roth IRA, that should always be your first choice. You lose the tax break on the contribution, but the long-term benefits are generally worth it. Additionally, "for many Americans... [especially]millennials, a Roth IRA is the best choice since...
Paying Medicare tax now makes it possible for you to have cheaper coverage later. For instance, Americans who paid proper taxes throughout their career will often qualify for free premiums on Medicare Part A.14 Is FICA Based on Gross or Net Income?
Americans residing and working abroad typically have until April 15 to file and pay their taxes. However, the IRS provides an automatic extension for expatriates who have until June 15 to file their U.S. income tax returns.8By filing Form 4868 by June 15, taxpayers can request an additional...