The Tax Preparation Blog

Posts Tagged ‘taxes’

Question: what was the lowest top federal income marginal tax rate for the wealthiest americans between 1936 and 1980?

How did the U.S. economy do generally during that time span and how much of a budget deficit problem did we have?

Answer: Partial History of
U.S. Federal Income Tax Rates
Since 1913
Applicable
Year Income
brackets First
bracket Top
bracket Source
1913-1915 – 1% 7% Census
1916 – 2% 15% Census
1917 – 2% 67% Census
1918 – 6% 73% Census
1919-1920 – 4% 73% Census
1921 – 4% 73% Census
1922 – 4% 56% Census
1923 – 3% 56% Census
1924 – 1.5% 46% Census
1925-1928 – 1.5% 25% Census
1929 – 0.375% 24% Census
1930-1931 – 1.125% 25% Census
1932-1933 – 4% 63% Census
1934-1935 – 4% 63% Census
1936-1939 – 4% 79% Census
1940 – 4.4% 81.1% Census
1941 – 10% 81% Census

1942-1943 – 19% 88% Census
1944-1945 – 23% 94% Census
1946-1947 – 19% 86.45% Census
1948-1949 – 16.6% 82.13% Census
1950 – 17.4% 84.36% Census
1951 – 20.4% 91% Census
1952-1953 – 22.2% 92% Census
1954-1963 – 20% 91% Census
1964 – 16% 77% Census
1965-1967 – 14% 70% Census
1968 – 14% 75.25% Census
1969 – 14% 77% Census
1970 – 14% 71.75% Census
1971-1981 15 brackets 14% 70% IRS
1982-1986 12 brackets 12% 50% IRS
1987 5 brackets 11% 33% IRS
1988-1990 3 brackets 15% 28% IRS
1991-1992 3 brackets 15% 31% IRS
1993-2000 5 brackets 15% 39.6% IRS
2001 5 brackets 15% 39.1% IRS
2002 6 brackets 10% 38.6% IRS
2003-2008 6 brackets 10% 35% IRS

The lowest rate between 1936 and 1980 was 70%. Today, the top tax rate now is 35% of earnings in excess of $357,701.
In the earlier period, budget deficits were minimal, in the latter, they have been a huge problem.

SunTrust Reports Fourth Quarter 2010 Results

SunTrust Banks, Inc. announced today that solid revenues and further improvement in credit quality resulted in net income available to common shareholders of $114 million, or $0.23 per average common share, for the fourth quarter of 2010. Â This result compares favorably to a net loss of $248 million, or $0.64 per average common share, for the fourth quarter of 2009 and to earnings of $84 …

Paul Ryan Calls for Reaffirmation of the Idea of America

Give middle class a tax break

Jack Mintz: Never mind corporate tax reductions. If anyone deserves a break it is main street folk who pay an awful lot of personal, payroll, sales and other taxes

YYCCC 2010-12-01 Calgary City Council – December 1, 2010

Question: Where can I find income tax calculator software??

Where can I find income tax calculator software??

Answer: if u have yahoo toolbar go to FINANCE or go to different bank home page

Electronic Income Tax Filing Systems Ready

The more than 6.1 million Pennsylvania taxpayers who file annual state personal income tax returns may now begin filing electronically for the 2010 tax year.

IRS Tax Deduction Calculator for 2010, 2011

Question: Tax Calculation/Diane?

Hi sorry diane, im in ontario. I saw a previous posting you gave with this site but when I calculated it, it showed much more so not sure if I did it right!

Will the 9600 still be the same if we are temporary residents which we are. Have been here 18mths but still dont have landed immigrant status

Not very good on this site either!
Thanks

You didn’t say what province you live in. For your husband’s income, taxes would have ranged from $6315 in Nunavut to $9274 in Quebec.

Here’s a calculator you can use to see how much taxes would be, with NO deductions, for your province:

http://www.ey.com/global/Content.nsf/Can…

He will pay less than that calculator shows because of the dependents, and if you live in a province that offers provincial tax credits for rent or property tax (most don’t). So I think he’s fine.

All of your taxes paid will be returned, because you made less than $960

Answer: minor point to clarify. Think Diane made an innocent typo

The tax credits for your two children apply if they were born after 1990, not 1980.

Don’t Miss The IRS Website

The IRS has done a superb job of disseminating information, giving previously unheard of access to i

VSU tuba section – Horsepower at the WCHS BOTB 2009, Fanfare “Tax Return”

Question: How can I earn money that my wife won’t know about?

What kind of jobs pay under the table in California? I can’t get a legitimate second job because my wife will see the income on our tax papers.

Answer: You could pick fruit with the illegals. It doesn’t pay very well, though.

Zurvita Holdings, Inc. Reports Fiscal 2011 First Quarter Results

HOUSTON, TX–(Marketwire – 01/11/11) – Zurvita Holdings, Inc. (OTC.BB: ZRVT – News ) (“Zurvita” or the “Company”), a dynamic direct-to-consumer network marketing company offering turn-key solutions for high-quality consumer and business products and services, today announced its financial results for the first quarter of the 2011 fiscal year, ended October 31, 2010. First Quarter 2011 Highlights …

How Tech and Medical Tourism can save Gaming, Convention, and Hotel tourism in Vegas.