If you are employed by a company, the IRS requires your employer to withhold a portion of your salary to pay your federal taxes. The amount withheld depends on a number of factors—but you do have some control over how much is taken out of your paycheck. The W-4 form you filled ...
For example, if you owe $1,000 in taxes but receive a $250 credit, you owe $750. If you claim a $250 deduction, you do not pay taxes on that $250. If your tax rate was 22%, that could reduce the amount of taxes you owe by $55—much less than a tax credit. Here are a ...
Why Do I Owe Taxes? Are you still wondering, "Why do I owe taxes?" You're not alone. By February 2019, the number of refunds already dropped by nearly 30 percent. The answer to why you owe taxes is likely in your pay-stubs and W-2. Do you have all your tax forms?Click hereto...
Why You May Owe China Taxes.The article discusses the capital-gains tax of China and the evolution of Chinese taxation of investments.Wall Street Journal - Eastern EditionSAUNDERSLAURA
, always be alert, and always file your taxes on time, no matter what you owe.Larry Pon, owner of Pon & Associates, a San Francisco-based tax planning and financial advisory firm, notes that his "best clients are planners" and generally stay "involved and aware" of what is going on....
Why Do We Pay Taxes? Taxes are the primary source of revenue for most governments. Among other things, this money is spent to improve and maintain public infrastructure, including the roads we travel on, and fund public services, such as schools, emergency services, and welfare programs. ...
With e-file now open, Lisa Greene-Lewis, CPA and TurboTax tax expert, discusses why it is a good idea to file your taxes now.
These days, Slott jokingly calls himself a reformed accountant, because he's completely changed his approach to his clients' tax burden. "I call it my key 'always' rule: Always pay taxes at the lowest rates," he says. "Always keep more money." ...
Increase your income:Bringing your DTI down requires you to reduce your debts or increase your income (or do both!). Exploring opportunities to increase your earning potential such as taking on additional work or seeking promotions may help improve your DTI ratio. ...
And I don’t really see why I should. Why do you want me to?’ he asked, and a curious change came over his voice. It was sharp with suspicion and annoyance. ‘You are always badgering me about my ring; but you have never bothered me about the other things that I got on my ...