I think you will find that the national effective tax rate is more in line with 17% for everyone. That's an average across everyone. So what is the premise that entitles someone, anyone, to declare that another person (not themselves) must pay twice as much or more than the average whe...
For instance, long-term capital gains on collectible assets can be taxed at a maximum rate of 28%. How much tax do I owe on my long-term gain? As a taxpayer, you can pay anywhere from 0% to 20% tax on your long-term capital gain, depending on your income level and tax filing ...
I then found outthat I have a rare disease face blindness. This43sent me to the doctor Ididn’t think much about it.44, I’m a successful adult ---who cares if my45isn’t quite like everyone else’s? Then, ...
How Much of Your Benefits Are Taxed?Most Social Security recipients escape income taxes completely on all of their benefits. But middle- or upper-income retirees have to count benefits as reportable income.Julian BlockUnited Features Syndicate Inc...
How do I save money on a tight budget? Economize on wants. If you can’t save as much as you’d like, it might be time to cut back on expenses. You can get ideas on where to cut by seeing how your spending compares with everyone else’s. First identify nonessentials, such as ...
“Regular” earnings show how much money you get from working your regular job. If you’re a salaried employee, your regular earnings will be your annual salary divided by the number of times you get paid each year. For example, if you’re paid $48,000 and you’re paid twice a month...
You can try to get your VAT refund through the mail but the process takes much longer and can be unreliable. Most people submit their requests at the airport on their way home. You'll have to present your documents to a customs agent, whose stamp is required as "proof of export." Ther...
Investment income can be taxed at either short-term capital gains rates or long-term capital gains rates (if you've held the investment for at least a year and a day). Long-term capital gains are taxed at a much lower rate than short-term capital gains. Taxes on Social Security income...
This also means any profits orincomefrom your cryptocurrency is taxable. However, there is much to unpack regarding how cryptocurrency is taxed because you may or may not owe taxes in given situations. If you own or use cryptocurrency, it's important to know when you'll be taxed so you're...
Two individuals with income in the same top marginal tax bracket may end up with very different effective tax rates, depending on how much of their income was in the top bracket. Consider the example above where a company pays an effective tax rate of 18%. In reality, the company ...