Archive for the 'Taxes' Category


2008 Tax Brackets

Want to know how much you’ll be paying in taxes this year? Here are the 2008 tax rates.
Tax rates are marginal, so you’ll pay taxes at each rate until you reach your taxable income level.
For example, a single filer who has $25,000 of taxable income will pay 10% on the first $8,025 ($802.50) [...]


Tax Tip of the Day

Looking for tax tips in small doses? The IRS counts down to April 15 with a daily tax tip posted on their website.
Recent tips that caught my eye included:

Ten Things You May Not Know About the Earned Income Tax Credit
Tips for Recently Married or Divorced Taxpayers
Top Five Facts about Dependents and Exemptions


Kiddie Tax

Children who earn investment income, including interest and dividends, usually pay a lower tax rate than their parents.
However, once the child’s investment income exceeds $1,800, the child’s income will be subject to the kiddie tax. When the kiddie tax applies, part of the child’s income will be taxed at the parent’s tax rate.
The [...]


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