FAQs tagged as

Taxes

  1. How do I find out what my tax bracket is?

  2. What's the difference between a tax rate and a tax bracket?

  3. What’s the difference between IRS Forms 1040 and 1040EZ?

  4. Can I use IRS Form 1040EZ to file my tax return?

  5. When do I need to fill out an IRS Schedule H form?

  6. When do I need to file an IRS Schedule F form?

  7. What is IRS Form W-2 used for?

  8. What are the advantages of paying your taxes with the Electronic Federal Tax Payment System (EFTPS)?

  9. Why is there a cap on the Federal Insurance Contribution (FICA) tax?

  10. When would I have to fill out a Schedule D IRS form?

  11. What are the dangers of using the Electronic Federal Tax Payment System (EFTPS)?

  12. Who needs to fill out IRS Form Schedule B?

  13. When would I need to use IRS Form 1040X when filing my tax return?

  14. Will I pay taxes on my Social Security payouts?

  15. How do I determine what to pay in taxes if my employer doesn't withhold payroll taxes?

  16. Can filing taxes with Form 1040EZ cost me money?

  17. Can I deduct my Individual Retirement Account (IRA) contribution on my tax return?

  18. What unforeseen circumstances affect what I'll pay in capital gains taxes?

  19. Can I contribute to a Roth IRA and still participate in my employer-sponsored retirement plan?

  20. Who's required to fill out a Schedule C IRS form?

  21. Can I take money out of my Individual Retirement Account (IRA) while working?

  22. What are the benefits of splitting my tax refund?

  23. How do I get a split tax refund?

  24. How do I know whether to itemize deductions or take the standard deduction?

  25. What's the difference between IRS Forms 1040EZ and 1040A?

  26. Can moving to a higher tax bracket cause me to have a lower net income?

  27. How Can I Fund A Roth IRA If My Income Is Too High To Make Direct Contributions?

  28. How Long Should I Keep My Tax Records?

  29. How do I list the beneficiaries of my life insurance policies if I have a trust?

  30. How are capital gains and dividends taxed differently?

  31. Are 401(k) loans taxed?

  32. If a LEAP option is purchased and held for more than 12 months, is the tax treatment long term?

  33. How does the government spend my taxes?

  34. I recently got married and now we (together) have two houses (hers and mine). I have only lived in mine for 13 months and was wondering if there was an exemption to capital gains tax if we could not reasonably afford the two properties?

  35. If you have a house that is under your company name and you want to sell it back to yourself, do you have to pay capital gains taxes?

  36. What is the double taxation of dividends?

  37. How are life insurance proceeds taxed?

  38. Can I refuse a gift by providing a "Qualified Disclaimer," and what does this entail?

  39. What is a "wash sale"?

  40. Which constitutional amendment made income tax legal?

  41. Will jointly filing taxes have the effect of joining a couple's credit?

  42. All of the following are allowable deductions used in determining taxable estate EXCEPT

  43. If my spouse passes away, will I have to sell my home to meet creditor obligations?

  44. Which of the following BEST describes a wash sale?

  45. Why does the IRS withhold income taxes from employee paychecks?

  46. Do nonprofit organizations pay taxes?

  47. Do I still have to pay penalties and taxes on money that I don't roll over from a DROP fund?

  48. Earnings within a Roth IRA are tax free, so are these earnings included in the modified adjusted gross income which is used to determine Roth IRA eligibility?

  49. How can I make sure I'm ready to file my taxes?

  50. Can an open-ended fund's price appreciate significantly?

  51. What procedure applies to a taxpayer who made excess contributions for 2001, 2002, 2003 and 2004 and has neither withdrawn the excess and the earnings for 2001-2003, nor recharacterized 2004 to a Traditional IRA? How are multiple years such as this to be

  52. How do I avoid paying excess taxes on securities I have sold?

  53. Can I give stock as a gift?

  54. What are the tax consequences of a Roth IRA distribution if the IRA holder is younger than 59.5?

  55. What aids will help me file my own tax return?

  56. Can I donate stock to charity?

  57. Should I put money into a retirement account even if it isn't tax deductible?

  58. How can I reduce the taxes on my inherited retirement assets?

  59. What constitutes an "intention to call a debt instrument before maturity" for tax purposes?

  60. Can I convert non-deductible contributions made to my Traditional IRA to a Roth IRA without being taxed?

  61. How does the marginal tax rate system work?

  62. How can I make sure I get all my eligible deductions?

  63. How do I calculate my gains and/or losses when I sell a stock?

  64. How do I figure out my cost basis on a stock investment?

  65. How do I get credit for my retirement plan contributions?

  66. After receiving a required distribution when and how are my taxes affected?

  67. As a temporary resident of the US, can I withdraw funds from my Traditional IRA without penalty when I leave the country?

  68. Is it true that you can sell your home and not pay capital gains tax?

  69. What are some commonly missed deductions for business owners?

  70. How can a trust lower federal transfer tax liability?

  71. Can I, without tax penalties, use the IRA I inherited from my father to buy a home that I will live in? He was 72 and had started taking small payouts on it.

  72. Are the deferred earnings in a SIMPLE IRA subject to FICA taxes?

  73. How can I use a child tax credit?

  74. How does the American Housing Rescue and Foreclosure Prevention Act of 2008 affect first-time home buyers?

  75. I will be receiving monies from a QDRO executed pursuant to my divorce. I would like to take a portion of the money as a distribution to pay for a new home. What are the tax implications of doing this?

  76. I am a non-U.S. citizen living outside the U.S. and trading stocks through a U.S. internet broker. Do I have to pay taxes on the money I earn?

  77. How can I tell if I'm eligible for an EITC?

  78. If I take a severance package from my employer, how will it be taxed?

  79. What are the "certain requirements" that must be met for substantially equal periodic payments (SEPPs)? Is it taxed at 20%? Is there any downside to the SEPP?

  80. How are realized profits different from unrealized or so-called "paper" profits?

  81. I sold my house. Can I exclude the gain from my income?

  82. What is estate planning?

  83. Can a corporation deduct dividend payments to shareholders before taxes are calculated?

  84. Does everyone have to file a federal tax return?

  85. What are unrealized gains and losses?

  86. I deducted my IRA contribution on my tax return but failed to transfer the funds. What do I do?

  87. Is my non-qualified Roth IRA distribution subject to taxes or early distribution penalties?

  88. I've heard that workers who don't roll over their 401(k)s after retiring face some problems related to estate planning. I was told it was some type of final 2002 government regulation. Is this true?

  89. What is the purpose of a "repatriated tax break", and why is it so controversial?

  90. Are there special benefits for U.S. armed forces personnel?

  91. I am 52 years old and wish to make a withdrawal from my 401(k) plan. Is there any way I can avoid having to pay additional tax on the grounds of hardship - e.g. unemployment?

  92. Can high-income earners deduct yearly defined-benefit plan contributions of over $100,000?

  93. How do I file taxes for income from foreign sources?

  94. When am I considered "married" for tax purposes?

  95. Upon my death, will the beneficiaries of my IRA be compelled to take the entire amount in the IRA as ordinary income, forcing them into unusually high income tax brackets?

  96. If an employee is paid by commission, who is responsible for withholding taxes?

  97. When am I not required to submit a social security number on my tax return?

  98. How do I use the IRS Free File tax forms?

  99. How do I sign up for the saver's tax credit?

  100. How can unethical executives use options backdating to evade taxes?

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