by Lance Morris | Jul 17, 2018 | Uncategorized
US Federal income tax has 7 brackets: 10%, 15%, 25%, 28%, 33%, 35%, and 39.6%. The amount of tax you owe depends on your income level and filing status. It’s important to understand that moving into a higher tax bracket does not mean that all of your income will be...
by Lance Morris | Jul 17, 2018 | Uncategorized
2016 Personal Exemption Amounts For tax year 2016, the personal exemption amount is $4,050 (compared to $4,000 in 2015). You are allowed to claim one personal exemption for yourself and one for your spouse (if married). However, if somebody else can list you as a...
by Lance Morris | Jul 17, 2018 | Uncategorized
When to File If you are e-filing tax returns on the calendar year basis, the due date for filing your return is generally April 15 of the following year. If the due date falls on a weekend, the due date for your return will be the following regular workday. If you...
