Your marginal tax rate is the rate of the highest tax bracket that you'll be taxed in. It is the tax you pay on each additional dollar of your income and the rate by which each dollar of deduction lowers your tax. You do not pay your marginal tax rate on all of your taxable income...
The shared responsibility payment is being implemented gradually over a number of years: For 2014, the full payment is $95 for each adult, $47.50 for each child, up to a maximum of $285 -- or 1% of your household income, whichever is higher For 2015, the full payment is $325 for ea...
The Premium Tax Credit The term “premium” refers to health insurance premiums. It doesn’t necessarily mean that thistax creditis top-of-the-line-better-than-the-rest. It’s refundable, however, and it’s even refundable in advance of filing your tax return if you ask to have the amou...
As is the case in most parts of the U.S., you can expect to pay a premium in certain neighborhoods and suburbs, while others are more affordable. Seattle sits between Puget Sound and Lake Washington, and many highlydesirable neighborhoodsare near the central part of the city or downtown,...
Note: The reference to the standard deduction amount in this video applies only to taxes prepared for 2010. It is included here for reference only. Standard tax deduction give taxpayers the option of claiming a predictable lump-sum deduction instead of a
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
What do I do if there is an error on my 1099 Form? If you receive a 1099 form with an error, reach out to the business as soon as possible. Ask them to correct the error. In some cases, they may be able to correct the error before sending the incorrect 1099 form to the IRS. ...
For those eligible to claim the standard Child Tax Credit who don't owe on their taxes, you may also qualify for the Additional Child Tax Credit. Unlike the nonrefundable CTC, this credit is refundable, which means that if you don't owe money on your tax
depending on how you paid for the insurance. If you used money from your paycheckbefore taxes were taken out, you’ll likely owe taxes on the benefit. But if you paid with money after taxes were taken out, the benefit is usually tax-free.3 ...
The key is to build the fund at regular intervals, consistently devoting a certain percentage of each paycheck toward it, and if possible, putting in whatever you can spare on top. This will get you to think about your spending, too. You should only use your emergency fund for true emerge...