According to The Balance, the average American who was single contributed more than 29% of their earnings in 2019 to taxes? In terms of dollars, this meant that the average person, with the salary of an “average wage earner,” was paying around $18,368. Most of these wage earners probably never took the time to focus…
Search Results for: year end tax planning
Income Tax Brackets for 2023
Income Earned Between Jan 1, 2023 and Dec 31st 2022(Taxes Return due in April 15th 2024) Do you want to Learn how 2023 Federal Income Tax Brackets Apply to your taxes? Do you know Single, Married filing jointly, Married Filing Separately, Head of Household Taxpayers have different tax tables? We have put together different tables…
When Is Tax-Free Weekend In Ohio?
One of the most exciting times of the year for parents with school aged children happens on the first Friday, Saturday, and Sunday of August. The tax-free weekend is a popular ‘event’ that happens once a year. School is an expensive thing to plan for, so the Ohio Department of Taxation gives one weekend out…
Best Tax Shelters
A tax shelter is any legal strategy that you undertake in order to reduce the amount that you owe in taxes. When you think about the term tax havens and tax shelters, what immediately comes to mind is greedy 0.1% billionaires trying to hide away their wealth on a remote desert island. You may…
Best Vanguard Funds For Taxable Account
Let’s say you have a portfolio of investments like stocks, bonds, or mutual funds, so you want to maximize your returns by saving on fund expenses and tax costs. If you have holdings in Vanguard and are looking for the best funds that have a low-risk rating, you might be overwhelmed with options and are…
Best Books On Taxes
Most people will have to file a tax return annually. Whether they do it themselves or hire an accountant, understanding the tax system is important especially if they want to save money on their taxes. But the system can be complicated and unwieldy particularly for those people who have never filed a tax return before…
How Long Does It Take To Do Taxes?
As a financial year draws to a close, it’s wise to start thinking about filing your taxes. This complex and arduous process can be time-consuming, but it’s important that it’s done correctly so you don’t get that dreaded visit from the IRS. Tax filing is a daunting task for most taxpayers. This guide will help…
Are 401 K Contributions Pre Tax?
This day and age, conscientious use of 401 (k)s and other retirement accounts is essential if you want the retirement of your dreams, but why is this the case? Do they offer some sort of notable benefit over a typical savings account? Well, the obvious advantage of using this sort of retirement account is that…
Do Accountants Pay Taxes?
Do you dread when tax season comes around? It could take you many hours and even days if you decide to prepare your taxes yourself, as it depends on how you file and what files you’re using. According to the IRS, it can take about 13 hours for the average taxpayer to do their return,…
Best Crypto Tax Software
From prolific investors to internet-savvy money-makers, more of us are starting to realize the potential of cryptocurrency and how investing in the crypto market can turn a profit. However, with earnings in digital currency comes tax liabilities, and understanding crypto taxes is far more complex than it may seem at first glance. A way to…