Tax on your capital gains are usually lower than those applied to your other income, but for 2209, the maximum tax levied on capital gains is 15% while those in the lower income individuals may get 0% tax on all or some of their capital gain incomes. To find out more on capital gains and [...]

Tapping your retirement fund early may have some impact on your income tax return. If you receive payment before you are 59 ½ years old is generally considered by the IRS as early or premature distributions, and therefore subject to an additional 10% tax. However, there are exemptions to early distribution tax, like if you [...]

The Internal Revenue Service has recently posted a revised tax form that allows employers to claim the newly enacted special payroll tax exemption that applies to newly hired workers.
The Hiring Incentives to Restore Employment (HIRE) Act signed by President Obama recently allows for a 6.2-percent payroll tax incentive, in effect exempting employers from their share of Social [...]