Total Tax

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Dictionary Says

Definition of 'Total Tax'

The composite total of all taxes that is owed by a taxpayer for the year. This number is essentially the penultimate point in the tax formula. It accounts for all credits and deductions due the taxpayer but not any tax payments made during the year. Total tax is then compared with payments made to see whether a refund is due or there is a balance owed.
Investopedia Says

Investopedia explains 'Total Tax'

For 2007, the total tax amount is shown on line 63 of the Form 1040, line 37 of Form 1040A and line 10 of Form 1040EZ. Total Tax has three basic components: income tax, alternative minimum tax and self-employment tax. It does not include sales or estate tax.
Search results for

'Total Tax'

  • How To Owe Nothing On Your Federal Tax Return

    http://www.investopedia.com/articles/taxes/08/owe-nothing-federal-tax-return.asp
    ... Determine Your Total Tax Liability Your personal situation will determine how
    accurately you can calculate your total tax liability for the year. ...

  • Top 4 Reasons To Save For Retirement Now

    http://www.investopedia.com/articles/retirement/07/noexcuses.asp
    ... Total Value if Taxed Annually [2], $568,732.24. Total Tax-Deferred Value [3],
    $741,343.82. ... Total Tax-Deferred Value After-Tax [5], $617,767.55. ...

  • Tax Deductions You May Be Missing

    http://www.investopedia.com/articles/tax/09/personal-business-tax-tips.asp
    Tax Deductions You May Be Missing. ... your citizenship. Read More ยป; Avoiding
    A Big Tax Bill On Real Estate Gains. Installment sales ...

  • Do Tax Cuts Stimulate The Economy?

    http://www.investopedia.com/articles/07/tax_cuts.asp
    ... items such as gasoline and tobacco. They account for approximately 4%
    of the total tax revenue. A Shifty Tax Burden The federal ...

  • How To Cut Your Alternative Minimum Tax

    http://www.investopedia.com/articles/pf/07/amtbasics.asp
    ... statutory rates, the actual rate structure is 26%, 28%, 32.5% and 35%.) If you owe
    AMT, you may be able to lower your total tax by claiming itemized deductions ...

  • Next Season, File Taxes On Your Own

    http://www.investopedia.com/articles/tax/08/filing-income-tax.asp
    ... 5. Calculate your total tax payment by multiplying your taxable income
    figure by the tax rate that matches your income bracket. ...

  • 5 Tax Credits You Shouldn't Miss

    http://www.investopedia.com/articles/taxes/08/tax-credits.asp
    ... The amount of the credit is limited to the lesser of $2,000 or the full amount of
    the taxpayer's total tax liability, although any unused credit can be carried ...

  • How To Qualify For The Home-Office Tax Deduction

    http://www.investopedia.com/articles/pf/08/home-office-tax-deduction.asp
    ... for IRS Form 2106 and Schedule C. (To learn more, check out A Tax Primer For ... the
    square footage of the workplace and divide that by the total square footage of ...

  • Get A Tax Credit For Your Foreign Investments

    http://www.investopedia.com/articles/tax/08/foreign-tax-credit.asp
    ... Limitations on the Credit The total amount of foreign tax credit that you may claim
    is limited to your total income tax liability multiplied by a fraction. ...

  • Why You Should Itemize Your Tax Deductions

    http://www.investopedia.com/articles/tax/10/itemized-deductions.asp
    ... to charity, have a lot of medical expenses or own your own home, you may not feel
    like you're getting the most bang for your tax buck if the total amount you ...

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