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2011 Tax Rates Print E-mail
Personal Finance - Taxes
Written by livecheap staff   

The 2011 Income tax rates are here.  You can use this table to calculate the tax bill that you owe to the IRS. Remember that these tables are the rates that you pay on TAXABLE income which is certainly less that your gross income. All those deductions and exemptions for everything from your home mortgage interest to your state income taxes, charitable deductions, and even deductions for having kids really do add up. Here's a list of the 2011 income tax rates:

Read more: 2011 Tax Rates
 
The Terrible Economics of Dual Income Print E-mail
Personal Finance - Taxes
Written by Omie Ismail   

Many families understand all too well the burden of having two working parents. Any debate over whether one parent should stay home needs to include an analysis of tax implications. Of course, some households don't have the luxury of engaging in this debate - two paychecks are needed to support the family and they simply can't get by without the extra income. But federal and state tax laws penalize dual income households at such a high rate that when the additional costs of commuting, childcare, and work-related expenses are factored in, many families might discover that the second income is just not worth the hassle.

Read more: The Terrible Economics of Dual Income
 
File Income Taxes Late and Owe The IRS Money Print E-mail
(8 votes, average 4.13 out of 5)
Personal Finance - Taxes
Written by Ahmed Amr   
Friday, 02 April 2010 05:37

Let me give you an idea of how a little knowledge about the tax code can save you money each and every year. If you're getting a tax refund this year, you’ve done something terribly wrong. If the IRS 1040is writing you a check - it’s because they’ve been withholding too much from your pay check. That means you gave Uncle Sam an interest free loan and don’t flatter yourself - you didn’t do it out of patriotism. Like most people who get a refund, you failed to tell your employer that you have a dozen kids and want to increase the number of exemptions.  That's how you get your employer to withhold less money from your paycheck. You don’t actually have to have the little darlings in your possession and you don’t get to claim them when it’s time to file - unless you’re a champion breeder with four sets of triplets.

Read more: File Income Taxes Late and Owe The IRS Money
 
The National Debt: 7 Different Ways to Visualize How Big it Is Print E-mail
(6 votes, average 4.33 out of 5)
Personal Finance - Taxes
Written by Omie Ismail   
Tuesday, 02 March 2010 02:54

One of the key problems with coming to terms with our huge national debt - which is now over  $12 Burjtrillion dollars - is that most people can't fathom it. A trillion is such a big number that nobody can really get their arms around it. And we have 12 of those trillions in debt.  Here are 7 ways of visualizing the national debt to give you insight into how obscenely large it is.

Read more: The National Debt: 7 Different Ways to Visualize How Big it Is
 
How to Donate Money to Haiti Print E-mail
(2 votes, average 5.00 out of 5)
Personal Finance - Taxes
Written by livecheap staff   
Saturday, 23 January 2010 03:26

As we watch the calamity that has befallen our impoverished neighbors in Haiti, many of us are scrambling for ways to help.  And we certainly encourage people to focus their gaze on Haiti and remember that "There but for the grace of God, Go I."   

Having the financial ability to help those in need or in distress is one of great benefits of living sensibly and watching your money. That extra firm financial cushion you build can always be used to comfort others and give them a helping hand.  But how do you determine if the charity you donate to  uses your funds to efficiently distribute aid?   The recent earthquake in Haiti has people asking just that question.  Here are some of the ways you can evaluate which charity will make the most of your donation to Haiti.

Read more: How to Donate Money to Haiti
 
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