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Note: The content of this video applies only to taxes prepared for 2010. It is included here for reference only. Social security tax is collected by the government to fund the benefits of retirees and those unable to work. Discover how much you owe in so
The Federal Unemployment Tax Act, or FUTA, is a U.S federal law requiring employers to pay a tax that funds unemployment benefits for people who’ve lost their jobs. The tax is paid to the IRS. While FUTA is specific to US employees, any non-US companies with operations in the country...
dividends, or capital gains. With careful planning, you can employ a few strategies to potentially lessen the annual taxes on such income. For example, shifting some of your assets to tax-efficient investments, such as municipal bonds, tax-exempt mutual funds, or tax-...
An IRS offer in compromise can help you settle tax debt for less than you owe, but it's difficult to qualify for. Emily ShermanFeb. 18, 2025 Valentine's Day Average Spend The average couple is planning to spend around $200 this Valentine's Day, but there are less expensive wa...
Tax exemptionsare essentially an exception to a taxation rule from a government. If something is tax-exempt, then it is not subject to taxation, or it’s subject to a lower tax rate or only partial taxation. Tax exemptions can apply to a number of situations. ...
Understand SUTA tax with our comprehensive guide. Get up-to-date rate tables, expert tips, and clear explanations to ensure you're paying the correct amount.
IRS Form 1042-S is a required document for reporting money paid to foreign persons (or those presumed to be foreign) by a U.S.-based business or institution. According to Form 1042-S Instructions,“If you file Form 1042-S, you must also file Form 1042, Annual Withholding Tax Return for...
The main objective of the VAT is to eliminate tax on tax (i.e., double taxation) which cascades from the manufacturing level to the consumption level. The U.S. system with no VAT implies that tax is paid on the value of goods and margin at every stage of the production process. This...
Tax Exempt and the Tax-Equivalent Yield The higher an investor’smarginal tax bracket, the more valuable and beneficial tax-exempt securities are for the investor. A tax-exempt security will carry atax-equivalent yieldthat is often higher than the current yield, as determined by the investor's...