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Got a refund? Paid a big tax bill? Time to adjust withholding!

All U.S. workers know, simply from looking at their pay stubs, that our tax system is pay-as-you-earn.

Our taxes come out of our paychecks as withholding, both for federal income taxes, as well as to cover future Social Security and Medicare benefits.

We don't have control over those taxes we pay now for federal retirement and hospital coverage when we're older. But we can -- and should -- adjust...

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Inflation effects on 2018 federal tax deductions ...

In the middle are the 2018 inflation amounts issued by the IRS before the new tax laws, the Tax Cuts and Jobs Act (TCJA), were enacted. I left them in for historical, reference purposes only so you can see how the new tax laws changed what would have been in effect.

Again, make sure you use the correct amount for the correct tax year. The amounts in column 1, the 2018 TCJA figures, are...

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Buying a car could boost your sales tax deduction - Don't ...

The IRS offers a worksheet -- the State and Local General Sales Tax Deduction Worksheet, also in the Schedule A instructions -- for this task. Or you can go to the IRS' online sales tax calculator . Or if you use tax preparation software, it should figure this amount for you.

The IRS calculator still has the 2015 data, but it should be updated by the time filing season opens on Jan. 23, 2017 ....

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Where to mail your estimated tax 1040-ES form - Don't Mess ...

But if you must make estimated tax payments, you need to take a break from your fun in the sun and send in your second Form 1040-ES for tax year 2013.

It's usually due on June 15 . But since that's a Saturday this year, you get a couple more days to make the payment.

Your second estimated tax payment for 2013 is due Monday, June 17. And that reminder is this week's Weekly Tax Tip .

Click image to access the PDF...

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Arizona and Georgia consider accepting bitcoin as payment ...

Lawmakers in Arizona and Georgia think their residents don't have enough ways to pay their state taxes. To remedy that, they've introduced bills that would cryptocurrency payments.

While fans of bitcoin and the myriad other digital assets may applaud the idea, they also need to note the downside.

Paying state taxes -- or for anything else -- with cryptocurrency could mean more federal...

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Related topics : capital gains tax rate short term long term / federal income tax capital gains and losses / short term capital gains tax rate / federal tax long term capital gains / capital gains tax rate long term

2018 tax rates, income brackets as adjusted by inflation ...

Thursday, October 19, 2017

The...

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Related topics : income tax return status 2018 / irs tax income brackets / tax return deductions 2018 / file income tax return / income tax act 2019

Mileage tax deduction rates for 2018 bumped up a bit - Don ...

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Potential tax reform effects: Before you get too excited (or as excited as you can) about an added penny to 2018 mileage deduction claims, remember that they could be affected by tax reform legislation making its way through Congress as I type.

Business mileage will still be allowed, much to the relief of the millions of self-employed taxpayers who claim their work-related travel on Schedule...

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Related topics : tax return deductions 2018 / irs tax return form 2018 / tax return deductions 2017 / tax return form 1040 for 2017 / tax return claiming mileage

Which bracket will you be in under the GOP tax reform plan ...

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Seems simpler, but...: I'll give the Republicans this, four tax rates and income brackets instead of seven sure looks simpler.

But that bump from 10 percent to 12 percent for the lowest rate doesn't look like a tax break. The GOP says the nearly double standard deduction amount will take care of that.

Families with lots of kids and other dependents, the proposed new...

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Related topics : income tax rate calculator california / income tax rate calculator / working families tax credit calculator / tax credits working families / calculator tax rate