First the wage base news. The maximum amount of earnings subject to Social Security tax will rise 2.9% to $147,000, from $142,800 in 2021. That means a bigger tax bill for about 12 million high-earning workers. The increase in the wage base reflects any real wage growth.
Retirees will have to factor in Medicare Part B and Part D premiums—and income-related surcharges—all of which reduce their overall benefits package. The Senior Citizens League has found that Medicare Part B premiums are one of the fastest-growing costs in retirement.
Corporate Integration: Taxes in House Plan Emphasizes Need For It
The U.S. imposes taxes on two kinds of business forms. Pass-through business , such as sole proprietorships, partnerships, and S corps, pay taxes through the individual income tax code.
The U.S. reduces this double taxation of corporate income by taxing long-term capital gains and qualified dividends at lower rates, under what is known as a "modified classical system." The U.S. is among seven OECD countries that taxes corporate income this way.
Taxes 2021: If you got an extension in May, your taxes are due this week - CNET
In most states, taxpayers who are granted a federal extension to file automatically receive an equivalent extension to file their state income tax return.
Your state tax return deadline was likely the same as the federal return deadline: May 17. (Last year, most states extended their deadlines to July 15 to match the federal government's delayed deadline.
A Baltimore family's property taxes more than doubled, but delays in recording home purchases
Travola Foster and her fiance searched for months for their first home, a difficult enough task even without a pandemic and competitive housing market. They were outbid a couple of times and nearly gave up.
But then, Foster got an alert about a home in Ashburton, close to where she works and spacious enough for her household of five. She quickly arranged to see it, and soon her real estate agent knew he had a sale on his hands.
Tax or treat! State laws on candy taxation vary wildly | WANE 15
Halloween shoppers have many delicious decisions to make before trick-or-treaters show up at their doors. And in many states, those choices will change how much tax they pay.
This example illustrates how state sales taxes can affect taxpayers, retailers and Halloween candy shoppers in unexpected ways .
Roseland, N.J.: Small-Town Appeal With Reasonable Taxes - The New York Times
When they began house hunting in early 2020, Tatsiana Butsko and Yury Krychala, immigrants from Belarus, decided to concentrate on western Essex County, an area in northern New Jersey known for its relatively affordable homes and good schools.
But their real estate agent convinced the couple, who had been renting in a two-family house in Dumont, N.J., in Bergen County, to expand their search to the neighboring borough. "And so we went there, and the only house we looked at we decided to buy right away," Mr. Krychala said.
2021 2nd Half Property Taxes Due October 31 - ThurstonTalk
T he deadline for Thurston County residents to pay their 2021 second half property taxes is October 31, 2021. Because the 31st falls on a Sunday this year, the law allows the payment to be made the next business day, which is Monday, November 1 without late fees being added.
Murdaugh family is significantly behind in taxes | WSAV-TV
COLLETON COUNTY, S.C. (WSAV) – The Murdaugh family is facing more money troubles as investigations continue into a series of crimes surrounding them .
Smith says he didn’t know why Alex Murdaugh called him that day, but he thought of him “like a brother” and would have done “almost” anything for him.
Tax Tip - Businesses: Pay your taxes online directly through your financial institution or
OTTAWA, ON , Oct. 13, 2021 /CNW/ - Business owners, the Canada Revenue Agency (CRA) understands that your time is valuable. We have online options to help you save time when paying your taxes.
Here's how you can pay your business taxes online through your financial institution or directly to the CRA.
Retired Cleveland police officer owes IRS more than $235,000 in taxes from his security business
CLEVELAND, Ohio — A retired Cleveland police officer owes the IRS more $235,000 in taxes from his security business that had hired off-duty officers for special events.
Gant has long been known in Cleveland as the go-to person who would provide private security for entertainment and sports events.
Happening on Twitter
Attention upper-income wage earners. The maximum income subject to Social Security taxes will rise to $147,000 from… https://t.co/syB0Qn9SP4 RichardRubinDC (from Washington, DC) Wed Oct 13 13:17:34 +0000 2021
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