What Are The Tax Brackets For 2012?

If you’re looking for an answer to the question ‘what are the tax brackets for 2012?’ then we can help you.  The federal tax brackets change every year based on the rate of inflation and they determine how much tax you’ll actually pay. Our guide outlines the tax brackets for 2012 and also includes help on how you work out what tax you will actually pay. 2012 tax brackets The tax brackets in 2012 depend […]

What’s The Purpose Of Income Tax Brackets?

Most countries have a ‘progressive’ tax system.  This means that people with more income pay a higher percentage of that income in tax.  In the US, this system is put into practice via the use of tax brackets. But what are tax brackets?  Why do we need them?  And what are the current tax brackets in the US?  Keep reading for answers to these questions. What are tax brackets? Tax brackets are different tax rates […]

Mortgage Tax Deductions Set To Change?

Could mortgage tax deductions be limited if Mitt Romney were to win the presidential election?  That was a question that was being asked this week after the Republican candidate was overheard telling supporters that he might seek to limit property deductions if he were to reach the White House. Keep reading to learn more about mortgage tax deductions and how any changes might affect you. Mortgage tax deductions explained If you have a mortgage on […]

What are the Current Income Tax Brackets for the United States?

Income tax in the US is calculated by applying one or more tax rates to your taxable income.  The US currently has six tax brackets which came into force through the Tax Relief Act of 2010.  For the years 2011 and 2012, the same tax brackets that applied in 2010 have been extended.  But what are the tax brackets? If you want an answer to the question ‘what are the Current Income Tax Brackets for […]

What Are Tax Brackets?

Are you confused about your tax brackets?  Are you unsure what tax brackets are?  Or, are you struggling to understand how they affect the tax you pay? If so, this guide will help you.  Here, we look at everything you need to know to answer the question ‘what are tax brackets?’  Keep reading to learn more. Introduction to tax brackets Like many other countries, the United States uses a progressive tax system.  This means that […]

What Are The Tax Brackets For 2010?

If you’re looking for an answer to the question ‘what are the tax brackets for 2010?’ you’ve come to the right place.  The tax brackets change every year based on the rate of inflation and they determine how much tax you’ll actually pay. Keep in mind however that you don’t necessarily pay tax on all your income at the same rate.  Keep reading to learn more. 2010 tax brackets The tax brackets in 2010 depend […]

What Are The Tax Brackets?

Every year the tax brackets in the US change.  Sometimes they change based on what Congress decide – the Bush era tax cuts, for example – whereas other years the only change is an adjustment for inflation. So, when filing your tax return it’s important that you work out what tax you owe based on the current tax brackets.  Our guide looks at the 2011 tax brackets and also contains a guide to working out […]

How To Pay Less Tax Using Deductions

With debt rising, everyone wants to reduce their expenses and taxes. So, ensuring that you make the most of your tax deductions means you won’t pay more than you should.  But what is a tax deduction? A tax deduction is an amount that you are allowed to subtract from your taxable income.  When you reduce your taxable income you reduce the tax you have to pay.  If your taxable income is $50,000 and you claim […]

Filing Your Tax Return? Here Are The 2011 Tax Brackets

Are you in the process of filing your 2011 tax return? If so, you’ll probably need to know what the 2011 tax brackets are.  The brackets change every year based on the rate of inflation and determine what amount of tax you actually pay. Keep in mind however that you don’t necessarily pay tax on all your income at the same rate.  Keep reading to learn more. 2011 tax brackets The tax brackets in 2011 […]

3 Common Tax Mistakes You Should Avoid

Filing your tax return isn’t easy.  The official US Tax Code is now more than 70,000 pages long and is growing every year.  According to Reuters, that’s the equivalent of more than 33 Oxford American Dictionaries. However, you don’t have to have read the whole document or be a tax specialist to avoid some of the most common mistakes that people make when filing their tax returns.  Avoiding common mistakes might speed up your refund […]