The rules determining whether a dependent needs to file a tax return are somewhat complicated, but I’ll try my best to keep it simple. Dependents who are under 65 and have unearned income (i.e. interest income) over $1,100, or earned income (i.e. wages) over the standard deduction ...
alternative minimum tax (redirected fromAlternative Minimum Taxes) Financial alternative minimum tax n.Abbr.AMT A federal tax on taxable income that applies if deductions and adjustments to income reduce the standard income tax that one owes to an amount less than a specified minimum. ...
Even if you earned interest during the year, you might not have to report it if you don’t have enough total income to be required to file a tax return. If you don’t have the minimum amount of income for the year, you generally don’t have to file a tax return, though there are...
A 401(k) is an employer-sponsored,defined-contributionretirement plan that allows employees to investpre-tax(or, in the case of aRoth account, post-tax) dollars in atax-advantagedway to save for retirement.67 The Bottom Line A guaranteed minimum income benefit (GMIB) ensures that an annuita...
The meaning of ALTERNATIVE MINIMUM TAX is a U.S. federal income tax that was originally imposed to prevent wealthy taxpayers from using tax shelters to avoid paying taxes, that excludes many deductions and exemptions allowed in computing regular tax liab
"The first individual minimum tax was enacted in 1969 and was an add-on minimum tax. That is, it was a tax that was paid in addition to the regular income tax. The tax rate for the add-on minimum tax was 10%, and its tax base consisted of eight tax preference items. The most si...
Bacache, Maya and Etienne Lehmann (2005) "Minimum Wage or Negative Income Tax: Why Skilled Workers May Favor Wage Rigidities," Spanish Economic Review.Maya Bacacbe-Beauvallet,Etienne Lehmann. Minimum Wage or Negative Income Tax:Why Skilled Workers may Favor Wage Rigidities[J].Spanish Economic ...
Some assets, such as stocks, shares in other entities that are subject to taxation, and assets of mining companies are exempt from minimum income tax. 公司税率是35%。 极小的所得税以1%的率被申请于公司\ ‘责任不可能被扣除的s (财产的税价值)。 有些财产,例如股票,矿业公司份额在是可能要交...
In this article, we analyze the political choice of the extent and means of income redistribution between high and low-skilled workers. Redistributive tools encompass both fiscal transfers (a negative income tax) and a minimum wage requirement. We assume the use of fiscal instruments alone to be...
China's top legislature adopted an amendment to the Individual Income Tax Law on Friday, raising the minimum threshold for paying personal income tax from 3,500 yuan ($510) to 5,000 yuan per month, or 60,000 yuan per year.