Eight Tax Facts about Exemptions and Dependents Most people can claim an income tax exemptions on their tax return. It can lower your taxable income, which in most cases, that reduces the amount of tax you owe for the year. Here are eight tax facts about exemptions to help you file your tax return. 1. […]
Income Tax Exemptions Read More »
More than 50 tax provisions, including the tax rate schedules and other tax changes are adjusted for inflation in 2017. Let’s take a look at the ones most likely to affect taxpayers like you. The tax rate of 39.6 percent affects singles whose income exceeds $418,400 ($470,700 for married taxpayers filing a joint return), up
Tax Brackets, Deductions, and Exemptions for 2017 Read More »
In Part I, we looked at the scenarios where you would be exempt from filing an income tax return, as well as some common exceptions to the general rule. Now we will look at some reasons why you probably should file an income a tax return, even if you have the legal right not to
Who is Exempt from Filing an Income Tax Return? (Part II) Read More »
In general, most American adults should file income taxes. However, for those that would rather not go to all the “trouble”, there are some circumstances when you may be legally exempt from doing so. We will take a look at which scenarios make you exempt from filing and whether or not this is a good
Who is Exempt from Filing an Income Tax Return? (Part I) Read More »
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