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Disposable income

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Q: Which of these is the amount of income individuals have after they save and pay their taxes?
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Who did the parliament hope to save from ruin by passing the tea act?

They hoped to save Samual Adams

Who wrote save your job save your country why nafta must be stopped?

Ross Perot

How did taxes lead to the revolution?

Between the years 1800 and 1860, arguments between the North and South grew more intense. One of the main quarrels was about taxes paid on goods brought into this country from foreign countries. This tax was called a tariff. Southerners felt these tariffs were unfair and aimed toward them because they imported a wider variety of goods than most Northern people. Taxes were also placed on many Southern goods that were shipped to foreign countries, an expense that was not always applied to Northern goods of equal value. An awkward economic structure allowed states and private transportation companies to do this, which also affected Southern banks that found themselves paying higher interest rates on loans made with banks in the North. The situation grew worse after several "panics", including one in 1857 that affected more Northern banks than Southern. Southern financiers found themselves burdened with high payments just to save Northern banks that had suffered financial losses through poor investment.The first income tax was moderately progressive and ungraduated, imposing a 3 percent tax on annual incomes over $800 that exempted most wage earners. These taxes were not even collected until 1862, making alternative financing schemes like the Legal Tender Act critical in the interim. The Internal Revenue Act of 1862 expanded the progressive nature of the earlier act while adding graduations: It exempted the first $600, imposed a 3 percent rate on incomes between $600 and $10,000, and a 5 percent rate on those over $10,000. The act exempted businesses worth less than $600 from value added and receipts taxes. Taxes were withheld from the salaries of government employees as well as from dividends paid to corporations (the same method of collection later employed during World War II). In addition, the "sin" excise taxes imposed in the 1862 act were designed to fall most heavily on products purchased by the affluent. Thaddeus Stevens lauded the progressivity of the tax system

Why did Dolley Madison want to save the portrait of General Washington?

She love it

Is it true that 154.50 is exempt from the maximum percent amount for Ohio garnishments?

Here is a portion of a letter called "Notice of Court Proceedings to Collect a Debt" which each person must receive prior to any garnishment being filed in an Ohio court. It will help you figure out how much money will be garnished: 1. Total amount of indebtedness demanded: (1) $____________ 2. Enter the amount of your personal earnings, after deductions required by law, earned by you during the current pay period that is, the pay period in which this demand is received by you: $____________________ 3. I deleted this one, it isn't necessary right now. 4. Enter an amount equal to 25% of the amount on line (2): $________________ 5. (A) The current federal hourly minimum wage is $5.85. If you are paid weekly, enter thirty times the current federal minimum hourly wage; if paid biweekly, enter sixty times the current federal minimum wage; if paid semimonthly, enter sixty-five times the current federal minimum hourly wage; if paid monthly, enter one hundred thirty times the current federal minimum hourly wage: (5)(A) $____________________. (B) Enter the amount by which the amount on line (2) exceeds the amount on line 5 (A): $_________________ 6. Enter the smallest of the amounts on line (1), (4), or 5(B):_________________ The amount on line 6 is what will be taken from your pay. So let's say you get paid $500 (after taxes) every 2 weeks. Your debt is $1000. Line 1: $1000 Line 2: $500 Line 3: skip it Line 4: 25% of $500 = $125.00 Line 5(A): $5.85 multiplied by 60 = $351 Line 5(B): $149 L:ine 6: the smallest amount of lines 1, 4 or 5(A) is line 4 so the amount you would be garnished is $125 each pay. This letter that you get is an opportunity to voluntarily pay this amount. It's also called a "15 day letter" because you get 15 days to take advantage of this offer. It is better to pay from this letter because you won't get garned. It also spells out what your options are and what funds are not subject to garnishment. Here's a link to a sample of the whole "Notice of Court Proceedings to Collect a Debt": The cheapest thing to do, if at all possible, is to contact the creditor and see if you can set up a payment plan. or negotiate a settlement figure (borrow from someone and pay this off). Sometimes you can negotiate for a percentage of what you owe. You will save a bunch of money in interest and any court costs or fees that can be passed along to you. barbe

Related questions

What is the amount of income individuals have after they save and pay their taxes?

= the amount of income individuals have after they save and pay their taxes? =

What is the definition of a Roth IRA?

A Roth IRA is a retirement savings plan. It allows individuals to save for retirement without incurring any taxes. The amount that can be contributed each year is dependent on criteria such as income and age.

How much can you save on taxes if you move to Florida from Maryland?

How much you might save on state income taxes depends on your income. Florida has no personal state income tax. Income taxes before exemptions in Maryland range from 2% if you make a dollar a year to 6.25% if you make more than one million dollars, with most people falling in the 4.75% bracket. If a single person earned the median US income of $32,140 per year, they would save $1526.65 per year, before any deductions or exemptions.

What is the purpose of budgeting?

To make sure expenses are below income

Online Income Tax Filing Saves Time and Money?

Online income tax filing can help you save time and money. Going to an income tax preparer can cost someone $200 to $400 or more. However, many people can file their taxes online for free. Some services, like H&R Block and Turbo Tax will allow some individuals to file their taxes for free online, like those who are not self employed, who do not own a home and who don't have any investments or income from rental property. Other online income tax filing services, like Tax Act, will allow everyone to file for free. You also save time because you can file right from home.

Individuals File Taxes Online to Save Money Each Year?

Individuals that are interested in preparing their own taxes can file taxes online anytime of the day or night. Millions of Americans file their taxes online each year. In addition to being very convenient, individuals can save a tremendous of money by choosing to file taxes online instead of spending hundreds of dollars on a tax preparation service.File Taxes Online Anytime of the Day or NightIndividuals who file their taxes online choose to do so each year because they like the fact that they can file taxes online anytime of the day or night. In addition to having the ability to file taxes around the clock, individuals who file taxes online also have the option of saving their tax return and returning to complete it at a later time.People Save Time and Money When They File Taxes OnlinePeople who choose to file taxes online do so because filing their tax return online not only saves a tremendous amount of time it also helps individuals save a tremendous amount of money on tax preparation services each year. This is especially true if more than one individual in the household files taxes separately. Households that take the time to prepare and file taxes online can save a lot of money by taking the time to prepare and file taxes online.Filing Taxes Online is Easy to DoIn addition to saving time and money on tax preparation, people who file taxes online also find that filing taxes online is extremely easy to do. Absolutely anyone can file taxes online. In addition to receiving step-by-step instruction on how to complete all of the required tax forms, the tax filing process is completely automated. As tax filers enter their information into each tax form, the tax forms automatically perform calculations and populate the fields with necessary information.Tax filers who are interested in saving money on tax preparation services and tax preparation software should consider the benefits of filing their taxes online. In addition to saving money, people who file taxes online receive step-by-step instruction and have the added convenience of filing taxes from home at anytime of the day or night.

How can a trust save on income taxes?

Trust savings are usually at a higher income tax rate and you will not often find yourself saving in this area. The individual savings will save more than the trusts so it is best to speak to a tax attorny to see if there are credits that may be unknown to you.

What is a highly rated income tax preparation software package?

A very highly rated income tax preparation software package is Turbo Tax. It is quite user friendly and can save you hours and hundred of dollars by helping you prepare your income taxes.

What happen if congress decreases taxes and increases government spending?

There are many different types of scenarios regarding this. Allot depends on how much of an increase in spending, along with how much of a decrease in tax rates. Generally speaking, lowing taxes helps individuals and companies to retain more of their income. Clearly this income saved is not placed under a mattress. Extra income is often spent by increasing production and thus even at lower tax rates the increase in taxable income rises. This benefits all including government revenues. The problem comes if spending outstrips the extra tax income from the private sector. Then interest rates on government borrowing becomes higher. Adding to a high deficit makes for a certain degree of lost confidence in the way a government handles its finances. On the individual side, a decrease in taxes gives the consumer more income to spend or save. If spending is increased then sales taxes gain income. The spending also keeps companies in business and they are able to hire more people. If the consumer decides to save their extra income, it gives banks more funds to lend to other consumers and to businesses.

Do you have to declare what you save to the IRS if you go through debt settlement?

Yes, you have to declare what you save to the IRS if you go through debt settlement. You can read more information at

Where can I find prices on modern income taxes software?

Turbo Tax and H&R Block are some of the biggest name income tax software that come to mind. They are relatively inexpensive, as there are many others that are much more expensive. Also, if you do your taxes yourself you will save money as compared to having it professionally done.

Are IRA accounts US Government Securities?

No. Although IRA's can be invested into government securities, an IRA in general is a plan for individuals to save money for retirement. IRA's were created in 1974 with the Employee Retirement Income Security Act. IRA's have a tax advantage as an incentive for individuals to set aside income for retirement.