Federal tax brackets, Taxation

Income tax groupings given by the Internal Revenue Service (IRS) that decide that at what rate an individual, corporation's or trust, annual income will expose to federal income tax. Federal tax brackets are adjusted from time to time to explain for the effects of inflation over time.

Federal tax brackets are planned in order that individuals or legal entities are taxed at diverse rates depending on the quantity of annual income they get.

For individuals, the federal tax brackets are prearranged so that as an individual gains extra annual income, his or her income is taxed at a superior rate.

Posted Date: 8/4/2012 6:22:24 AM | Location : United States







Related Discussions:- Federal tax brackets, Assignment Help, Ask Question on Federal tax brackets, Get Answer, Expert's Help, Federal tax brackets Discussions

Write discussion on Federal tax brackets
Your posts are moderated
Related Questions
Deferred tax asset; taxable income given; valuation allowance. At the end of 2012, Payne Industries had a deferred tax asset account with a balance of $30 million attributable to a

This assignment is to be done ALONE. It is due IN CLASS by the posted due date with no exceptions. Other than the textbook and class notes, the ONLY other resources that should be

should be on 2012 forms and done in pencil. It should include a schedule that shows the fiduciary income calculation and other relevant calculations. Jack Green established the Jac

Joe operates a business that locates and purchases specialized assets for clients, among other activities. Joe uses the accrual method of accounting but he doesn’t keep any signifi


need help with tax return assignment

Jenny is 35 years of age, single and is a professional hairdresser. She was born in Australia, however she often travels overseas for extended periods for work purposes. Jenny rec

Prepare answers to each of the following questions.  Assume a tax rate of 30%. (i) Harry Ltd has a balance of prepaid rent in the balance sheet amounting to $100 000 as at 30 Ju

The taxpayer exchanges property in 2010 with a fair market value of $5,500,000 that has a basis of $750,000. The property is also subject to a mortgage of $2,500,000. The taxpaye

#queTonya had the following items for last year: Salary $40,000 Short-term capital gain 12,000 Nonbusiness bad debt (25,000) Long-term capital gain 8,000 For the current year, Tony