A liability can be owed by an individual, business ... Because your taxable income is over $100,000, you use the IRS tax computation worksheet to calculate your tax liability.

The House Republicans’ budget bill calls for a bigger 199A deduction for qualified business income. If enacted, here’s who ...

Social Security benefits were tax-free, but changes in legislation now mean that retirees with higher incomes may face taxes ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Vikki Velasquez is a researcher and writer who has managed, coordinated, and directed ...

Answering a reference, the Supreme Court held that deductions under Sections 80-IA/80-IB of the Income Tax Act need not ...

This means that only income taxed at the standard slab rates, such as salary or business income ... gains from the rebate calculation may result in a higher tax liability, and thus, they may ...

The senatorial aspirant said that excluding overtime pay from the computation of taxable income will increase the take-home pay ... will stimulate consumer spending and translate to brisk business ...

In the appeal of the revenue, the AO is aggrieved with deletion of addition u/s. 68 by CIT (A) by admission of the additional evidence without giving proper opportunity to the AO & in clear violation ...

Achieve explains how understanding your DTI can give you an important edge when you’re looking for a home equity loan or ...

Note:The slabs and rates of tax in the 'Proposed New Tax Regime Slab Rate' column apply to taxpayers of all ages. The new income tax slab rates result in lower taxes for individuals with net ...

As taxpayers get ready to file their returns, it is crucial to understand the key sections of the Income Tax Act, 1961, that can help in accurate tax calculation, availing deductions, and choosing ...

The Allworth Advice is not to panic. Your father's debts are not your debts. We would also recommend making sure his estate's ...