The Tax Preparation Blog

Archive for the ‘Tax Charts’ Category

Question: Are we getting the right information about tax increases for the wealthy?

The media has been obsessing about President Obama’s plan to roll back the Bush tax cuts for the wealthiest Americans—from 35% to 39.6%—even asking if that makes him a socialist.

But do you know what tax rate the wealthiest Americans paid on the top portion of their earnings at the end of Ronald Reagan’s first term? 50%.

Under Richard Nixon? 70%. Under Dwight Eisenhower? 91%!

Shocking, right? And for all the whining about rolling back Bush’s irresponsible tax cuts, the truth is that Obama’s plan cuts taxes for 95% of working Americans. Further, it closes huge tax loopholes for oil companies, hedge funds and corporations that ship jobs overseas so that we can invest in the priorities that will get our economy back on track.

This chart from The Washington Monthly shows just how absurd Republican complaints about Obama’s budget are. Check it out for yourself:

http://www.washingtonmonthly.com/archives/individual/2009_03/017201.php

Answer: Republicans are swooning over top tax rate increases that are still lower than at almost any time in nearly a century.

The only times the top rates were lower is the decade of the Depression and the recession-heavy 1980’s. Hmmmmm….

All States Tax Handbook (Tax Charts abd Calendars Covering Income, Sales and Use, Property, and Other Taxes, 2009 Edition) …

All States Tax Handbook (Tax Charts and Calendars Covering Income, Sales and Use, Property, and Other Taxes, 2009 Edition) Get access to quick state-by-state comparisons of different tax rates and structures for all 50 states and the District of Columbia. Organized by tax type, this compact reference charts all major taxes imposed by states for easy reference so that you can make the best informed decisions and give the best advice possible. The All States Tax Handbook features: Tax systems in graphic form. For yo…

Airgas Believes Air Products’ Tactics Designed to Deprive Stockholders of Value

RADNOR, Pa.—-Airgas, Inc. today announced that it has commenced mailing of a letter to all Airgas stockholders regarding the tactics employed by Air Products & Chemicals, Inc. over the past ten months.

Tax Day Tea Party High Interest in ALIPAC and Illegal Immigration

Question: “federal income tax liabilities”?

What exactly is the definition of the term “federal income tax liabilities”? What is this chart indicating? http://s241.photobucket.com/albums/ff319/goldfinch331/?action=view&current=ShareOfFederalTaxLiabilities.gif

Answer: “Federal income tax liability” is the amount (or percentage) of taxes that a person (or people) is responsible for.

The chart indicates, year to year, the % of all federal taxes paid by individuals whose incomes were in the top 20% of all incomes.

Fidelity® Provides Income-Based College Savings Guidelines as Study Shows Parents Projected to Meet Only 16% of Future …

BOSTON–(BUSINESS WIRE)–Fidelity Investments®, a leading provider of 529 college savings plans, today announced the results of its fourth annual College Savings Indicator study, which calculates how prepared parents are to pay for future college costs, whether they save on their own or with a financial advisor. This year’s study showed significant progress in the actions and behaviors of …

Federal Income Tax Withholding Chart for 2009, 2010

Question: copy of retail sales tax?

I own a business and sale retail beauty supplies ‘m looking for a 7.75% tax chart

Answer: Try your local Chamber of Commerce.

Question: Question about Income Tax and Penalties?

My husband’s employer stopped taxing federal income taxes out of his paychecks a few months into 2009. When he inquired about it, they stated they were using a new chart because of the supposed stimulus that was to be thru paychecks. Well, now it’s tax time and he owes. We file seperately and have to due to a very old debt that takes any return of his, but usually he breaks pretty close to even at tax time. We owe $460 this year. While my return will have enough to pay this, my questions are:
1. I have heard of the underpayment penalty… will he be charged this if we pay on time, or has he already been charged this. If so, is there any way around it for this year?
2. I figured up that if they had held out as little as $10 more a paycheck, he would have broke about even ($10 x 52= $520). Is that correct, and is there a way to have them do this?
Thanks for any help!

Answer: You won’t owe any penalty for underwithholding – that doesn’t kick in until the amount owed on the return is $1000.

Yes you can request extra money to be taken out by filing a new W-4 with the extra amount on line 6. If he has “married” on his W-4 he should change it to “married, but withhold at the higher single rate” – if he does that, they’ll take out more, and that would probably fix the problem without requesting the extra to be taken out. Either way should work.

All States Tax Handbook (Tax Charts abd Calendars Covering Income, Sales and Use, Property, and Other Taxes, 2009 Edition) …

All States Tax Handbook (Tax Charts and Calendars Covering Income, Sales and Use, Property, and Other Taxes, 2009 Edition) Get access to quick state-by-state comparisons of different tax rates and structures for all 50 states and the District of Columbia. Organized by tax type, this compact reference charts all major taxes imposed by states for easy reference so that you can make the best informed decisions and give the best advice possible. The All States Tax Handbook features: Tax systems in graphic form. For yo…

This is a Backgrounder On Health Care

Abstract: In 2006, the Dutch government implemented a universal insurance mandate. Many American policymakers are looking to the Dutch experiment as a model to fix America’s complex and costly health care system.

Federal Income Withholding Tax Tables for 2009, 2010

18,070.75

This First Quarter Review is being made in a macroeconomicenvironment that has changed significantly since our April policy announcement.At that time, there was some optimism about the sustainability of the globalrecovery, however modest the pace may be.