tax bracket table

tax bracket table questions and answers

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Q: Accounting help please?
1.The amount of federal income taxes witheld from and employee's gross pay is recorded as an a. payroll expense b. contra account c. asset d. liability 2. Which of the following would be used to compute the federal income taxes to be withheld from and employee's earnings? a. FICA tax rate b. wage and tax statement c. wage bracket and withholding table 3. Payroll entries are made with data from the a. wage and tax statement b. employee's earning record c. employer's quarterly federal tax return d. payroll register Any help will be gratly appreciated

A: This is homework *help*; you've merely posted your assignment. Show what you've done so far: what answers you've eliminated, what principles you believe are appropriate, and where you're stuck. Simply handing you the answers would be cheating.

Q: should i collect this retirement money?/or, can you direct me to a good online resource?
Hey...just woke up from amnesia. 57 years old...still working...can get 1000 a month from past (secure) retirement plan...will bump my wife and I up to...75 thousand a year...I dont know... 1)Does that make us in a new tax bracket? and 2)Should I go ahead and get that money...because even if the retirement amount goes up a little each year...what really is the point in waiting, even if I have to pay 300 a month in taxes on it? 3)Can I slip it into some investment that is tax-deferred? Own a house...no savings...no nothing...a couple of used cars...a nice dog...health insurance...ping pong table... Thanks!

A: I would cash out now and get the 75000 a year, and put most of it into cd's for savings. They are great to live on. You can get 6 months cd's at local banks and make a good profit. It is tax defferred if you rollover ever six months, and you can take them out gradually so you have plenty to live on. I would definitely go the path of least resistance. You will be in a new tax bracket, but if it is put immediately into a cd by a retirement savings broker then you only pay taxes on the amounts that you put into your checking account. Take it out gradually every month or year and you slowly pay taxes on it. I have an IRA that is taxed up front personally(Roth IRA) because I am young and intend to make a lot more in my life. I don't want to pay the taxes 30 years from now because then they will be higher. But with a large lump sum like that, hide it in a money market account and you will be able to hide from Uncle Sam and not get slammed. Stay away from the stock market it is going under quick. Most banks these days offer secure ways to keep from paying large amounts of taxes up front. Talk to the bank investment services administrator at the bank you use and see what they suggest. Avoid the IRA thing, because it ties it up until you are 65 or so, but go with a money market for the high return on interest, and put some in cd's so you have access to it to live on until the rest matures. Hope this helps...

Q: public finance help!?
I was wondering if someone can help me with a homework: 1) A corporation has $7 mil. in equity. During the tax year it takes in $4 mil. in receipts and earns $ 2 million in capital gains from sale of subsidiary. It incurs labor costs of $1 mil., interest costs of $250,000, material costs of $500,000, and pays rent for structure of $250,000. Calculate the corporation's total accounting profit and assuming that the profit is fully taxable, calculate its tax liability using the tax rates in this table: Taxable income /ATR beg. of bracket /MTR less than 50,000 / 0% / 15% more than 50,000 but less than 75,00/ 15% / 25% more than 75,000 but less than 10 million/ 18% / 34% more than 10 mil. / 34% / 35% Calculate the ATR (annual tax rate) of the corporation as a percentage of its economic profit, assuming that the opportunity cost of capital is 8% I hope someone can answer this, thank you!

A: sorry i cant answer ur question. even i m need of some help. can u email me ur public fnance lectures or some helping material. thanx ANYWAYS

Q: Really confused, need help explaining what i do next?
Set up a small cleaning business in Oct. I registered as self employed early Dec, I was still in my 3 month bracket. I did it online, but didnt get any conformation, is this right? What do i do now? I have opened a business account. This only got acitvated probably late Nov, so since Oct I had just been putting it in my current account. But now its all going in my business account. I havent got an accountant yet, but what records would I need to show him so he can give it to the tax man? Do I need to make a table of all payments I receive during the week. Someone said to me to take 20% of your weekly earnings, and put in a savings account, so that when you get your tax bill at the end of the year, you pay it from what you hav saved, so you actually have SOME money to pay off the bill. So if i get £100 a week, I put about £20 away? How do i pay NI contributions? Is that all I need to do? Theres nothing else that is going to jump out at me when I dont realise it?? Thanks

A: I'm in business but I live in Spain so I can't really help you with the details. What I will say though is consult an accountant. Ask a some other small businesses in your area to get some recommendations about which firm to go with.

Q: New drapes or replace the exsisting lighting?
I get a bonus every year from work. Today I find out if we owe anything on our taxes, and if we don't, I'd like to spend the bonus on something for the house. Last year we got new blinds, but I'd like to add some warmth to the rooms with some soft window treatments. However my husband and I agreed that if the bonus should go toward "home improvement", so we also talked about replacing the lighting. It's a new construction home, and we didn't get a choice on the lighting, so all the ceiling lights are the hideous shiny 80s brass things. We plan to put the house on the market in a year or so, so we have tried to keep everything neutral. If I got drapes, I would want to add color and do something different in every room. Since color is such a personal thing, I imagine the drapes are not something that would "improve" the value of the home. We would leave the hardware (rods and brackets), but probably take the actual drapes with us when we move. Even if they don't stay, I think the house will "show" better if we have soft treatments on the windows. Lighting on the other hand would stay with the house and improve the value. We installed a bronze ceiling fan in the great room last year and I would like to carry that through the rest of the first floor lighting. I'd like something in stained glass in the foyer, but something more simple for the rest of the first floor (2-3 flush ceiling lights, pendant lights over the kitchen island and informal dining room and a chandelier over the formal dining room table).

A: I say go with the lighting, you are only going to be there a year, and whatever curtains you get might not fit the windows of the place you move to, much less match whatever decor you go with when you move in a year. If not having curtains really bothers you, you should try to do both. Check out clearence sales & close out stores for the light fixtures. If you see a light fixture in a store you like, write it down, check the measurements and see if you can find the same thing on ebay or online cheaper. Then you can check the clearance bins and closeout store (like big lots) for curtains. If you have nice blinds, you might want to consider just doing a scarf valance, you can find them for less than curtains, or make them yourself, and they can add just as much color.