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What else can I help you with?
How much in taxes will I owe for the upcoming tax year?
The amount of taxes you will owe for the upcoming tax year depends on your income, deductions, credits, and tax bracket. It is calculated based on a percentage of your taxable income. You can estimate your tax liability using tax brackets and the tax rates provided by the IRS.
Is Payroll Tax considered Income Tax?
Yes. Any tax on income is income tax. Taxes imposed after income, such as sales tax, aren't.
How much estimated tax should I pay for the upcoming tax year?
The estimated tax you should pay for the upcoming tax year depends on your income, deductions, and credits. It is recommended to consult with a tax professional or use online tools to calculate the estimated amount accurately.
What is a progressive tax system?
a tax system that takes a larger proportion of income from high income people than from low income people
The result of interperiod tax allocation is that?
The income tax expense on the income statement is the sum of the income taxes payable for the year and the changes in deferred tax asset or liability balances for the year.
Do you have to claim federal tax refund on Oregon state return?
You do not have to report any income tax refund on any tax forms, it is not income.
An amount of income that is not included in your gross income is known as what?
Income tax exempt INTEREST INCOME but the amount that is exempt from income tax does have to be reported on your income tax return and is used in the calculations to determine if any amount of any social security benefits that you receive will become taxable income on your 1040 income tax return.
How do you know if there are any income tax changes made for this tax year?
You can find out through an online tax filing system such as TurboTax, or go to a Tax Filing office, such as H and R block, and they will let you know.
If you are a teen earned 223.00 in 2009 and paid no federal income tax do you have to file federal income tax for 2009?
If you do not have any other income other than the 223 earned income and no federal income taxes were withheld and you are a dependent on another taxpayers income tax return you would not have any reason to file a income tax return for the tax year 2009.
Is Income from illegal activities is not assessable to income tax?
ALL income form any source should be considered when calculating income tax.
Do you have to pay income tax on taxable income if that was your only income?
Sure you do if you owe any amount after your income tax return is completely correctly.
What is the percent of state income tax for Kentucky?
Kentucky has a flat state income tax rate of 5% for individuals. This rate applies to all personal income, with some deductions and exemptions available. Additionally, Kentucky has proposed changes to its tax structure, so it's advisable to check for any updates or modifications.
