The Tax Preparation Blog

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Budget 2011 – live reaction and analysis

LIVE: LATEST news as it comes to hand as Treasurer Wayne Swan delivers his fourth Budget – and Julia Gillard’s first as PM.

Partial Differences Subtraction App for iPhone and iPod Touch

Question: Generally what percentage of federal taxes are taken out of your paycheck if you are an hourly employee?

Answer: state withholding depends on your state, federal withholding depends on income, marital status, number of exemptions claimed on W-4. Social security is always 6.2% and medicare is always 1.45%.

I’ve attached a link to a paycheck calculator website, www.paycheckcity.com, that can help give you the info you are looking for.

Bracing for a possible federal shutdown

Marylanders keep wary eye on federal budget talks Marylanders keep wary eye on federal budget talks

Payroll Tax Cut in 2011

Question: in california does the percentage of tax taken out of your paycheck differ each time?

I make 15.00hr and last week I worked 25.5 reg hrs and 3.5 ot hrs. i calculated the total taxes taken out (i claim 1 single) at around 17%. this week I worked 40 reg hrs and 21.5 ot hrs and the total taxes taken out this time was almost 28%. BS! I was so looking for a different better number on my check! So does the total taxes percentage differ from paycheck to paycheck depending on what you earn each pay period?

Answer: Yes, it can differ considerably when your hours vary that much.

Robert Rizzo, aide accused of conspiracy in Bell corruption scandal

Former city administrator and his assistant conducted an elaborate plan to conceal benefits and bypass state law by hiding their true pensions, an indictment says. Former Bell City Administrator Robert Rizzo and his assistant spent seven years conspiring to illegally boost their pensions, created fake contracts, secretly increased their benefits and then filed workers’ compensation claims as …

Cold War Kids – We Used To Vacation

Question: tax return in canada?

i worked for a year in canada on a working holiday visa, i will soon be going back home to europe – how do i go about getting a tax return?
i know there are companies that can do it, but one quoted me 10% as their fee, and having estimated that i may be entitled to $2000 return, that would mean im paying them $200 which seems a bit of a rip off.

Answer: First, determine if you are considered a resident or a non-resident of Canada. Once you’ve figured that out, you’ll be able to use either the General Income Tax Return, or the Return for non-residents and deemed residents.

http://www.cra-arc.gc.ca/formspubs/t1general/menu-e.html

http://www.cra-arc.gc.ca/E/pub/tg/5013-g/5013-g-01-06e.html

The International Tax Centre might be able to help you in determining your status, if you’re stuck. They are at:

1-800-267-5177

Top Things Families Should Know About Taxes

OTTAWA, ONTARIO–(Marketwire – 03/08/11) – The Canada Revenue Agency (CRA) has a number of benefits, credits, and services to help families meet their financial obligations throughout the year, reduce the amount they owe at tax time, and provide them with convenient online options. Read on to see if the following tips can help you or your family. 1. Child benefit amounts: Use our online benefit …

9.12 DC TEA PARTY – MARCH FOOTAGE WITH INTERVIEWS

New Resources from Principal Funds Help Demystify Social Security

According to the Social Security Administration, 74 percent of current retirees are receiving a reduced Social Security benefit.1 Principal Funds has created a suite of resources for financial professionals to help their clients make the most of their benefits.

Xpnsit shows how to get more tax back – Work related uniform and clothing expenses