Taxes

A major component of your overall expenses are the various taxes that you must pay. Paying taxes is a fact of life; however, it does not mean you should not be looking for way to reduce your taxes. Articles in this section will help you better understand various taxes and things that you could do to minimize your tax burden. Additionally, check out these related sections: budgeting, smart spending, and insurance and risk management.

Taxes is a subsection of expense management.

How Do Marginal Tax Rate and Effective Tax Rate Work

How Do Marginal Tax Rate and Effective Tax Rate Work

In this article, I will explain a few basic tax concepts related to our Federal income tax system that include Tax Brackets, Marginal Tax Rate, and Effective Tax Rate. In the United States, we have a […]

TurboTax Online Income Tax Preparation Software Review

TurboTax Online Income Tax Preparation Software Review

The other day I was wondering if I owe any income tax this year, so I decided to give Intuit TurboTax Online Federal Free software a try.  In general, I was impressed at how far online […]

Self-Employment, Estimated Tax, and Safe Harbor

Unlike my regular job, where my employer withhold a portion of my salary to pay various taxes — i.e., Federal, State, City, Social Security, and Medicare — there’s no tax withholding for my self-employment income.  To […]

Would You Like to Pay My Taxes?

Would You Like to Pay My Taxes?

This question came to me when I was reading The Dough Roller’s post about why do mutual funds close to new investors. Part of the post read: …taxes for existing investors went up after a fund […]

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