Auto Rebates and Coupon Tax Facts #auto #reviews


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Auto Rebates and Coupon Tax Facts

By Donna L. Montaldo. Coupons/Bargains Expert

Donna Montaldo is a journalist who combines her past experience in the retail industry with her experience and passion for using coupons and finding bargains. Read more

Consumers and automobile manufacturers benefit from the many cash-back coupons and rebates offered on car sales. Another group that benefits greatly are the state tax collectors.

Last year cash rebates totaled more than $28 billion, according to Edmunds.com. Although much of the 28 billion is returned to the consumer, many states collect sales or excise taxes on the pre-rebate sale price.

Continue Reading Below

Consumers are Catching On

Car buyers are launching complaints when they discover that they paid sales tax on the pre-rebated amount of their automobile purchase.

Jack Gillis of Consumer Federation of America told the Washington Post that he finds the policy outrageous and said Sales tax always has to be based on the actual sales price. With a rebate, that s price less the rebate. What s the next step – you go ahead and charge tax on the MSRP (manufacturer s suggested retail price) even though you ve negotiated $5,000 off the price?

In many states, car sales taxes are handled much the same way as grocery store coupons. If an in-store coupon or frequent shopper card results in the consumer paying a lower amount for an item, then the savings is subtracted from the total before the tax is computed.

However, if the consumer uses a coupon supplied by a manufacturer, then the tax is figured on the total sale first then the coupon amount is deducted. If the consumer savings comes by mailing in a rebate, the sales tax is based on what the consumer pays at the time of purchase.

Continue Reading Below

In car sales, consumers who purchase a car using the popular employee discount method would pay taxes based on what they paid at the time of sale. However, if the consumer receives a manufacturers coupon that reduces the price, the tax is calculated at the full sale price and then the coupon amount is deducted from the sale.

How Much is it Costing Consumers?

Example:

Auto Price – 30,000

  • Automatic Manufacturer Discount – 10 percent
  • Adjusted Auto Price – 27,000
  • Sales Tax (Based on 6 percent) – $810
  • Total Price Paid by Consumer – $27,810

Auto Price – 30,000

  • Manufacturer Rebate Coupon – 10 Percent
  • Sales Tax (Based on 3 percent) – $900
  • Adjusted Auto Price – $30,900
  • Coupon Deduction – $3,000
  • Total Price Paid by Consumer – $27,900

Difference – $90

Because of consumer confusion about coupons, rebates and sales tax, some manufacturers are considering reducing the prices of the automobiles on a permanent bases which would mean consumers are taxed based on how much they actually pay for the car.

Not all states tax car sales the same way. In Delaware, consumers pay 2.75 percent of the price consumers pay at the time of sale. If a rebate or coupon is subtracted from the total at the time of sale, then the consumer pays tax based on the adjusted amount. If a rebate is paid to the consumer at a later time then at the point of sale, then they have the option to complete a state form requesting a refund on the rebate amount.

The debate over the future of rebates in the auto industry continues with some analysts who believe they are here to stay.

George Hoffer, professor of economics at Virginia Commonwealth University, told the Washington Post, Lower list prices and cutting dealer margins forces the dealer into narrow band of prices. It guarantees factories will have to come back with rebates.


Tax and National Insurance when you – re self-employed – Money Advice Service #self #employed #tax #deductions


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Tax and National Insurance when you’re self-employed

When you’re self-employed, you are responsible for paying tax and National Insurance on your income. It’s important to stay on top of all your records in order to calculate and work out how much you need to pay.

Work out your employment status

HMRC’s Employment Status Indicator will tell you whether you’re self-employed, or employed. Scroll down for information on using it.

To work out how much tax and National Insurance you should pay, first you need to work out whether you’re employed or self-employed.

This is usually straightforward, but sometimes it’s a bit more complex – for example you could be employed in one job and at the same time self-employed in a different job.

The HM Revenue Customs (HMRC) website has a tool called the Employment Status Indicator that will work out your employment status for you based on your answers to a series of questions.

It’s completely anonymous and won’t ask for your name or any other personal details.

Using the Employment Status Indicator

There are two pages to read before you get to the tool.

  1. On the first page, read the information and click “Access the ESI tool and further guidance”.
  2. On the second page, read the ‘Conditions of use’ section and if you agree, click “I accept the conditions of use – go to the ESI tool”.
  3. Answer the questions.

The tool uses some technical language, so when you answer the questions remember:

  • You are ‘the worker’
  • The person or company you work for is ‘the engager’

Register with HMRC as self-employed

To make sure you don’t miss any payments, it’s best to pay your National Insurance contributions by Direct Debit.

As soon as you become self-employed you must tell HMRC.

The very latest you can register with HMRC is by 5 October after the end of the tax year for which you need to file a tax return.

The tax year runs from 6 April one year to 5 April the next. If you register too late you might be liable to penalties.

You can register online to pay taxes on the HMRC website. or by calling the HMRC Newly Self Employed Hotline on 0300 200 3504.

How much tax and National Insurance do I pay as self-employed?

If you’re self-employed, you will probably need to pay National Insurance contributions (NICs) as well as income tax.

This currently includes Class 2 NICs (a flat rate charge on the self-employed) and Class 4 NICs (contributions based on profits made).

These contributions pay for benefits such as the:

  • Basic State Pension,
  • Maternity Allowance
  • Bereavement Benefit

If you don’t keep your contributions up to date, or your payments are late, it could make it more difficult to claim these benefits.

The government has announced Class 2 NICs will be abolished from April 2018.

Proposed increases to Class 4 NICs, which were announced during the March 2017 budget, will no longer go ahead during this parliament.

Check whether you need to register for VAT

Some self-employed people also need to register for VAT. Others might benefit from registering voluntarily.

Find out if you need to register for VAT in this interactive guide from HMRC.

Keep good records

To work your tax out correctly you’ll need good records of the money that comes into and goes out of your business.

It will be much easier to fill in your tax return if you keep good records as you go along rather than trying to find all your invoices and receipts at the end of the year.

You can be fined for failing to keep records.

Your basic records must include:

  • All your sales and takings
  • All your purchases and expenses

To work these out you should keep any paperwork or electronic documents relevant to your business, including:

  • Cashbooks
  • Invoices
  • Mileage records
  • Bank statements
  • Receipts for purchases
  • Your P60s if you are also employed

Fill in a tax return every year and pay your tax on time

HMRC is offering guides, videos and live webinars to help people complete a Self Assessment tax return. Please visit this site opens in new window to access the information and for webinar dates and times.

In April each year, HMRC will send you a letter telling you to complete a tax return online, or a paper tax return to fill in, for the tax year that has just ended.

There are different deadlines for completing your tax return and paying the tax you owe.

Tax return deadlines

  • Online tax return: 31 January after the end of the tax year.
  • Paper tax return: 31 October after the end of the tax year .

The tax year begins on 6 April and ends on the following 5 April.

Payment deadlines

  • 31 January is the payment deadline for the balance of what you owe for the previous tax year. Normally you will already have made two payments on account for that year. This is also the deadline for making your first payment on account for the current tax year.
  • 31 July is the deadline for your second payment on account for the current tax year. The nature of Self Assessment means that it can be several months before your tax is due. It’s good practice to make provision for any tax owed on an ongoing basis.

Not sure how much you’ll have to pay? Budget for your Self Assessment tax bill with HMRC’s Self-employed ready reckoner tool.

To speak to an advisor and access webinars about your self-assessment tax return visit HMRC Support.

Did you find this guide helpful?


State taxes: Wisconsin #wisconsin #state #income #tax


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State taxes: Wisconsin

Overview of Wisconsin Taxes

The Wisconsin state income tax rate is currently 4% on the low end and 7.65% on the high end. The income tax rate varies over 4 income brackets. More on Wisconsin taxes can be found in the tabbed pages below.

Personal income tax

Wisconsin reduced both its tax rates and the number of income tax brackets beginning with the 2013 tax year. The income that falls into these brackets is shown below.

For single taxpayers, the rates are:

  • 4% on the first $11,090 of taxable income.
  • 5.84% on taxable income between $11,091 and $22,190.
  • 6.27% on taxable income between $22,191 and $244,270.
  • 7.65% on taxable income of $244,271 and above.

For married taxpayers filing joint returns, taxes are assessed at:

  • 4% on the first $14,790 of taxable income.
  • 5.84% on taxable income between $14,791 and $29,580.
  • 6.27% on taxable income between $29,581 and $325,700.
  • 7.65% on taxable income of $325,701 and above.

Wisconsin’s tax returns are due April 15 or the next business day if that date falls on a weekend or holiday.

Wisconsin offers an earned income tax credit to its residents. This credit provides a direct benefit to working families with qualifying children. The benefit amount depends on the total household income and the number of children.

Sales taxes

Wisconsin has a sales tax of 5%.

Further, 62 counties have an additional sales tax of 0.5%. Retailers who make sales subject to applicable county taxes must collect 5.5% sales tax on their retail sales.

Sales of motor vehicles, boats, recreational vehicles and aircrafts are subject to the county use tax of 0.5% rather than county sales tax based on the county in which the item is customarily kept.

Personal and real property taxes

The most common property tax assessed on Wisconsin residents is the real property tax, or their residential property tax. Wisconsin does not impose a property tax on vehicles, but does levy an annual registration fee.

The Division of State and Local Finance. or SLF, is responsible for establishing the state’s equalized values; assessing all manufacturing and telecommunication company property for property tax purposes; assessing and collecting taxes on utilities, railroads, airlines, mining and other special properties; and providing financial management and technical assistance to municipal and county governments. It also administers the state shared revenue, property tax relief payments for municipal services and the lottery credit program, and the tax incremental financing programs, along with providing property assessment administration and certification of assessment personnel.

Equalized values are based on the full market value of all taxable property in the state, except for agricultural land. In order to provide property tax relief for farmers, the value of agricultural land is determined by its value for agriculture uses, rather than for its possible development value.

Equalized values are used to distribute state aid payments to counties, municipalities and technical colleges. Assessments prepared by local assessors are used to distribute the property tax burden within individual municipalities. You can find your county’s or municipality’s equalized value on the Department of Revenue’s website.

Details on Wisconsin’s property tax system can be found in the Department of Revenue’s Guide for Property Owners .

Wisconsin has 2 programs to help people with their property taxes: the homestead credit and the Property Tax Deferral Loan Program.

  • The credit is income-based and available to renters as well as homeowners. Further information about the homestead tax credit is available by calling the Department of Revenue at (608) 266-8641.
  • The loan program is operated by the Wisconsin Housing and Economic Development Authority. or WHEDA, and provides loans to qualifying elderly homeowners to help pay for property taxes. Details can be obtained by calling WHEDA toll-free at (800) 562-5546.

Inheritance and estate taxes

Wisconsin does not collect inheritance taxes.

Wisconsin does not collect an estate tax. It will not impose an estate tax unless the federal estate tax law is modified to provide a federal estate tax credit for state death taxes.

Other Wisconsin tax facts

Wisconsin maintains an online listing of delinquent taxpayers .

Wisconsin taxpayers can use several online options, such as filing returns and checking their refund status online .

The Wisconsin Department of Revenue also administers unclaimed property. Unclaimed property is any financial asset that hasn’t had owner activity for a year or more and the holder of the asset is not able to contact the owner. In addition to traditional financial assets — such as savings and checking accounts, stock, and mutual funds — unclaimed property includes utility deposits, unclaimed wages and property resulting from a business closure. The law does not include real estate.

For more information, contact the Wisconsin Department of Revenue at (608) 266-2772, or visit its website .

To download tax forms on this site, you will need to install a free copy of Adobe Acrobat Reader. Click here for instructions.

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Online Tax Center #the #tax #center


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This application uses the New York State (hereinafter State) Central Directory Service for authentication and authorization. In addition to any obligations arising under acceptable use policies or terms of service implemented by Participating Organizations, logging into this application indicates your agreement to abide by the following:

  1. You shall use this application only for purposes directly related to the conduct of official business with the State or its agencies and the application shall not be used for nonpublic purposes including, but not limited to, the pursuit of personal activities, the mass distribution of unsolicited messages ( spamming ), and the promotion of commercial ventures or religious or political causes;
  2. You are responsible for acquiring and safeguarding your own user ID and password used to access this application;
  3. You shall be responsible for any activity attributable to the use of your account whether by you or any other person;
  4. You shall not engage in activities that may cause interference with or disruption to any network, information service, equipment or user thereof;
  5. You shall comply with all applicable confidentiality and security requirements as set forth in any applicable acceptable use policies or terms of service implemented through this application directly or by Participating Organizations, and shall not seek information on other users or attempt to obtain access to, copy, or modify other users’ files without express permission;
  6. You shall not violate the rights of any person or entity protected by copyright, trade secret, patent, or other similar laws or regulations;
  7. You shall not use this application for any fraudulent or illegal purpose, including, but not limited to, the transmission of obscene or harassing materials;
  8. You must report any abuse or misuse of this application to ITS and you shall cooperate fully in any investigation into any such abuse or misuse, and
  9. You understand and agree that the State reserves the right to revise, amend, or modify this Acceptable Use Policy or other related policies and agreements at any time in any manner. Notice of any revisions, amendments, or modifications will be posted on this and other sites.

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Photocopier Lease Guide – Advice and Benefits of Leasing a Copier #leasing #tax #benefits


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Photocopier Lease Guide for London

Photocopier Leasing

Leasing a photocopier is one way for you to avoid the initial capital outlay required for outright purchase. Whilst the overall outlay is slightly more with a photocopier lease as opposed to a straightforward purchase there are sound reasons to consider it as a method of finance for office equipment such as an office printer or copier machine.

Leasing is a well-established and tax efficient form of finance, enabling cost-effective trade-up access to the very latest technology at the right time. An example of a leasing company that specialises in business equipment such as office photocopiers is ING Lease. one of the top five leasing companies in Europe. Their site may help further in familiarising with the various finance options and how leasing can be adapted to suit each business’ preference.

We hope this guide helps with understanding the key benefits of lease finance as well as offering useful advice if you are looking to lease a photocopier. Of course, if you have any questions please do not hesitate to contact us.

Photocopier Lease Guide – Contents

What are the benefits of photocopier leasing?

For many businesses the purchase of an important office utility such as a photocopier or printer may be a daunting investment, mainly due to the associated large up front sum but also the prospect of it becoming obsolete in five years time. Leasing a photocopier is the smart alternative with numerous good business-sense advantages:

Budgeting

Many businesses earn revenue over time – to pay as you use makes sense: Why pay out in one lump sum when with leasing you can make small fixed manageable payments? It equates to pay as you use. Payments made throughout a lease arrangement are unaffected by changes in interest rates; you can therefore accurately plan for lease payments in advance. And as cash flow can be forecast, cost of use can be compared with projected revenue and profits generated by the use of the photocopier / printer.

Tax efficiency

Leasing can reduce your overall tax bill, as the cost is deductible as a business expense reducing the net cost of leasing the equipment. This factor will help determine whether to rent or lease, rather than buy. If you buy you will be able to claim 40% of the photocopier / printer purchase price against tax in the first year and thereafter claim 25% of the outstanding balance. If you lease you do not have to pay the cost of the photocopier or printer immediately and you may reclaim everything you pay out on a ‘by payment’ basis – monthly, quaterly or annually.

Upgrading Technology

It is well accepted that a photocopier or printer is not a business asset that appreciates: IT depreciates faster than the vast majority of purchased assets. So save purchases for assets that either appreciate or depreciate less. Leasing gives more freedom for up to date office equipment, important with printers and copiers, to be installed as required, less affected by budget restraints. Photocopier and printer leasing improves cash flow and creates a hedge against inflation, depreciation and obsolescence. Importantly, it allows you to take advantage of technology improvement at a time of your choosing and at a reasonable cost. By contrast, a business that owns its office equipment can only upgrade by reinvesting and disposing of the existing asset. A photocopier lease with Club Copying will include provisions to trade up to a newer model or, when necessary, to one that accommodates the higher volume, speed and features your business requires at the right time, giving you freedom to upgrade without buying new.

Multifunctional

Because the latest photocopier and printer machines are multifunctional i.e. they combine all the functions of a scanner, fax machine, printer, colour printer (if applicable), pdf writer, document manager (send files to email and mailbox), and photocopier, it makes sense to be able to upgrade all these products and facilities at the same time rather than having to deal with multiple outdated machinery. This is one of the newer benefits of leasing combined with the latest multifunctional technology.

Capital

It makes sense to use capital for expansion or appreciating business purchases. Leasing for office technology preserves precious resources for these purposes and other business opportunities. Furthermore, you are able to preserve your existing bank lines and optimise your use of commercial credit sources.

Flexible Payment

You can choose the option that makes for the most comfortable leasing arrangement, normally up to 5 years, giving immediate access to the photocopier / printer equipment you need, the necessary speed, and the right multifunctional technology, via payments your business can handle and without the large deposit normally associated with outright purchase.

Return on Investment

Let the new equipment provide you with a return. The reason for a new photocopier or printer is to increase productivity; with leasing you are in the position to use the cost saving and increased production ROI to make the periodic payments.

Buying Tips for a Photocopier Lease

  • Test drive it: When deciding between two or three copier models, please feel free to ask us for a demonstration of how the machines work. Or if it is more a case of colour print quality ask a Club sales representative to forward you copies or prints of your own document files ensuring satisfaction in advance.
  • When not to: If you expect to make fewer than 700 copies a month, you probably do not need to lease a business copier. You would be better off purchasing a smaller desktop copier or multifunctional laser printer that would cost much less overall – unless you want the advanced features of a business photocopier or printer.

Who retains the equipment at the end of the photocopier lease?

Title to the goods remains with the finance provider, which means the equipment does not show on your company balance sheets and therefore not applicable to the expected value depreciation over a fixed period. This of course gives you the advantage of staying in touch with the latest technology by changing your equipment towards the end of your lease.

Can we upgrade before the photocopier lease agreement expires?

Yes. A Photocopier Leasing facility allows businesses to keep up with changes in technology as your original installation can be altered either during or at the end of your lease period. The normal reason for this is due to a customer’s expansion of business and their changing needs.

Why should I choose photocopier leasing?

All sectors of the British economy take advantage of Photocopier Leasing; it is the most popular choice for small businesses that need a mid-to-high volume photocopier or printer just as a large multi-national organizations prefers to keep a tighter control on their finances and enjoy the tax efficiency and upgrade opportunities of a lease agreement over purchasing.

How does photocopier leasing work in practise?

Leasing is a contract between a finance company and a customer, giving the customer use of the equipment on payments of rentals over a period. When you lease equipment you make a series of regular (usually tri-monthly) payments, instead of a large capital outlay.

Why lease a photocopier rather than purchase?

The cash flow and tax relief benefits of leasing provide a very strong case against cash purchase. If you buy equipment outright the capital invested becomes, in effect, tied up in a depreciating asset. Photocopier Leasing on the other hand allows you to save resources for other purposes or opportunities. To be sure of the right decision for your business specifically, speak to your accountant who can advise upon what is best for your company financially.

Enquiries

For specific enquiries regarding leasing agreements with Club Copying feel free to call and speak with one of our staff who have many years of dealing with the various lease finance options available.

Photocopier Buyer’s Guide – If you would like any advice for choosing a copier or printer for your office feel free to consult our guide.

Club Copying – 30 years of Service to London Business – 020 7635-5252

For any enquiry regarding photocopier machine prices, to discuss leasing or if you would like to arrange a demonstration please complete the form below then click the ‘Send enquiry’ button. Alternatively you can contact the sales team on 020 7635 5252 .


Accounting & Tax Planning in Sioux City, IA #resolve #tax


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Kramer & Associates, LLC

Welcome to Kramer & Associates

Thank you for visiting our website.

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At a recent hearing before the Subcommittee on Oversight of the Committee on Ways and Means, I was asked a seemingly simple question about what types of guidance taxpayers can rely on. Unfortunatel.

amp;nbsp; amp;nbsp; The Taxpayer Advocate Service (TAS) will conduct Problem Solving Day events in communities throughout the country in the coming months and year. During these events, TAS empl.

In an earlier blog I discussed my concern about how the IRS amp;rsquo;s private debt collection (PDC) program affects taxpayers who are likely experiencing economic hardship. amp;nbsp;In this blog.

Every year the Taxpayer Advocate Service (TAS) helps thousands of people with tax problems. This story is only one of many examples of how TAS helps resolve taxpayer issues. All personal details ar.

I have always had concerns about outsourcing tax debts to private collection agencies (PCAs). amp;nbsp;First, I believe tax collection is an amp;ldquo;inherently governmental function amp;rdquo; w.

Every year the Taxpayer Advocate Service (TAS) helps thousands of people with tax problems. This story is only one of many examples of how TAS helps resolve taxpayer issues. All personal details ar.

Since 2004, when Internal Revenue Code (IRC) amp;sect; 6306 was enacted as part of the American Jobs Creation Act, the IRS has had the statutory authority to outsource the collection of tax debt.

Every year the Taxpayer Advocate Service (TAS) helps thousands of people with tax problems. This story is only one of many examples of how TAS helps resolve taxpayer issues. All personal details ar.

Each year the IRS sponsors the Nationwide Tax Forums, a three-day series of tax education and networking conferences for tax professionals in cities around the country.These events feature the late.

Today the National Taxpayer Advocate released her Fiscal Year (FY) 2018 Objectives Report to Congress, identifying the priority issues she and TAS will address during FY 2018. In her preface to the.


SJD Accountancy – Accountants for Contractors, Freelancers and Consultants #accountancy,limited #company,contractor #accountants,contractor #limited #company,accountants,freelancer #accountants,consultants,london,tax,inland #revenue,contracting,tax #help,tax #planning,ir35,vat #registration,it #contractor,umbrella #company,contractor #expenses,contractor #guides,case #studies,take #home #pay #calculator,company #formations


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SJD Accountancy – Specialist Contractor Accountants

Tax is complicated and sometimes only a meeting will do. That’s why we don’t just provide a ‘telephone only’ service like many other companies; we also offer unlimited face to face meetings from our many offices across the UK.

With over 15,000 Limited company clients, SJD is the UK’s largest contractor accountants. We also have more qualified staff than any other firm in our market, boasting qualifications from major tax and accountancy bodies such as ATT, AAT, CTA, ACCA, CA, ACA, FCCA.

No call centres, no outsourcing, no automated call handling – just your own friendly dedicated accountant.

SJD Accountancy has won more awards for accounting excellence and customer service than any other contractor accountant specialist, so you know you’re in good hands.

Low Cost all inclusive Accountancy packages

We’ll take care of all your business and personal taxation needs. This includes:

  • Completion of accounts
  • Dividends and corporation tax
  • Personal taxation
  • Payroll bureau
  • Free bookkeeping software and company returns
  • All for a fixed fee starting from £120 plus VAT per month
Essential

Our Essential business package covers all your company accounting needs and personal tax affairs.

Premium

Everything in Essential plus a range of business insurances included as well as registered office address and many more rewards.

  • Experienced, specialist providers to over 15,000 contractors, freelancers and small to medium sized businesses.
  • Ten time winners of the ‘Best Contractor Accountant’ award voted for by visitors to Contractor UK 2007 to 2016.
  • Pro-active service to always keep you on the right side of tax and legislative changes.
  • Unmatched service guarantee to appoint us with a complete peace of mind.
  • More qualified staff than any other specialist firm with qualifications covering: ATT, AAT, CTA, ACCA, CA, ACA, FCCA.
  • Offices across the UK with 25 years of outstanding customer service.
  • Deemed IPSE Accredited Accountants and fully MSC compliant.
  • A recognised authority on IR35.
  • All inclusive, low cost monthly packages starting from a fixed fee of £120 plus VAT per month.

Yearly Federal Tax Calculator 2017 #yearly #tax #calculator #2017,yearly #tax #calculator #2018, #yearly #tax #calculator, #yearly #medicare #calculator, #yearly #social #security #calculator, #yearly #fica #calculator


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Tax Form Calculator

Yearly Tax Calculator

How to use the advanced tax calculator

  1. Enter your Yearly income.
  2. Check the box – Advanced Federal Tax Calculator
  3. Confirm Tax Year for Tax Calculation
  4. Choose Standard or Itimized Tax Return Calculation
  5. Confirm Number of Dependants
  6. Confirm Number of Children you claim Tax Credits for
  7. Enter Tax Withholdings for Tax Rebate Calculation
  8. Select other relevant tax factors (Age related tax allowances, head of household tax allowance, tax-deferred retirement plan, cafeteria etc)
  9. Click Calculate to see your tax, medicare and take home breakdown – Federal Tax made Simple

Recent Updates to the Tax Form Calculator

[23 rd May 2016]: Additional Medicare Tax added for those who exceed the annual earning threshold. This feature is integrated with all of our tax calculators. We have also provided a dedicated FICA calculator for those who just wish to calculate / audit this specific tax element.

[09 th May 2016]: New Comment Feature. We have added a new comment feature to certain pages to allow you to provide direct feedback. This is for those who prefer not to contact us directly or if you want to leave any comments about the site or the tax and finance tools we provide. Be nice please..

[04 th May 2016]: New site design. As a final push to maintain this site as a free resource we have redesigned the layout and added some new tools. Our aim is to increase your user experience and encourage those who use ad-blocking software to turn it off or add us to the white list in your ad-blocking software. The increasing use of ad-blocking software by our users has meant that we are struggling to sustain the tax Form Calculator as a free resource and are currently considering either charging for the service or scrapping the site completely. If you care about the web and like free tools, please don’t block the ads. We know ads can be annoying but this site is free to use, help us keep it that way.

[29 th March 2016]: IRA and 401k calculators integrated into the Tax Calculator. Select advanced, use settings ‘I am between 50 and 65 years of age’ as relevant and ‘IRA and 401K Calculator’ inputs to calculate 401K and IRA as part of your tax return calculation. More info on using the IRA / 401K Calculator here .

[02 th March 2016]: For our Canadian users: We are working on a comprehensive Canadian Federal, Province and Non-resident Tax Calculator. we expect to have all elements fully integrated by the end of April (print, save, etc.). Take a look and let us know your thoughts, as always we tweak our calculators design, look and outputs to suit our communities needs. We will be providing a similar interface for the US Tax Calculator this year pending further community feedback .

[10 th October 2015]: 2016 Tax tables integrated into the Tax Calculator.

The Federal Tax calculator is updated to include the latest Federal tax rates for 2015-16 tax year as published by the IRS .

2016 Tax Refund Calculator

Calculate your total tax due using the tax calculator (updated to include the 2016 tax brackets). Deduct the amount of tax paid from the tax calculation to provide an illustration of your 2016 tax refund.

Tax Illustrations

Looking for a quick snapshot tax illustration and example of how to calculate your tax return? Go to our Salary Tax Illustrations and select an annual salary assessment for an instant tax illustration with tax breakdown and Medicare example.

Updates to the 2016 Tax Calculator

The following updates have been applied to the Tax calculator:

  • Selectable Tax year.
  • Tax calculations allow for Tax-Deferred Retirement Plan.
  • Tax calculations allow for Cafeteria or other Pre-Tax Plans.
  • Selectable Tax year.
  • Updated to include 2016 Federal tax rates.
  • Updated to apply Medicare and Social Security deductions as Pre-Federal Tax calculation Thank you Justin Duel .
  • Calculate Child Tax Credit Refunds.
  • Apply Local Tax rate deductions.
  • Apply Earned Income Tax Credits (Currently works with Child Tax Credits only, further suggestions welcome).
  • Personal Exemptions Phaseout added.

Note:Deaf, Blind or Disabled and Qualified Disabled Veterans are currently active for Michigan only. If you would like these activated for your state, please leave a message on our tax forums. ideally you should also confirm the allowance amount for your State as well.

This federal tax calculator is as good as the feedback, your support, requests and bug catches help to improve the accuracy of the tax calculator for all.

This tax calculator aims to balance ease of use with transparency of tax calculation but is provided for illustration only. Remember that you should always seek professional advice and audit your tax return

If you would like us to add anything information to the Tax Calculator or have a comment (always good to have positive feedback! also good to have ‘this could be better if. ‘ type feedback too.), please contact us, thank you. .


12 Free Samples of Donation Receipt Template #receipt #for #tax #deductible #donation


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12 Samples of Donation Receipt Template to Create Instant Receipts

12 Samples of Donation Receipt Template to Create Instant Receipts

During the year, numerous individuals like to make generous donations to their favorite charity. Often, they might make several donations to a charity through the year. In some circumstances, the charitable donation is made in cash to the charity. Of course, most are made by check. Therefore, the person donating does have proof that they indeed made a donation to the charity. However, a donation receipt would come in handy around tax time. The donation receipt acts as proof that the individual gave a donation to the charity. Every organization should make sure that they have a donation receipt to give to those that make donations for their records and the recipient s records. The donation receipt template here is professional quality and contains all the information that is required to fill it out accurately and precisely.

Using A Donation Receipt Template

The donation receipt template is very easy to use. Simply select the template desired. The templates were designed with Word and Excel, which makes the templates easy to customize with your own organizational details, logo, and more. The best part is that there is no need for expensive graphic programs or expensive software. Word and Excel are programs that are included on most computers already. Simply download the template to your computer. Take a look at the template. Decide on the areas that you would like to change. For example, add a logo, change the fonts, change the color of the fonts, add a picture, add signature lines.

Print out one donation receipt as needed or print out several hundred at a time. The template should be stored on the computer for future use. At a later time, it is easy to update the template with new information as required. Download the donation receipt template now and start printing out professional quality donation receipts.

Printable and Editable Donation Receipt Templates

Contribution Receipt Template

Sample of Tax Deductible Donation Receipt Template

Donation Receipt Template for Church

Church Donation Receipt Example

Equipment Donation Receipt Example

Donation Receipt Template for Excel


Tax Audit Insurance #us #tax #shield #cost


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There is a good reason that more than 95% of our clients say that they would recommend Audit Shield to other accounting firms*. Audit Shield has proven to provide relief, both to accountants and their clients. In fact, for those who utilise Audit Shield, currently more than $1 million in claims is paid per month to cover the professional fees associated with audit activity. This is evidence that audit activity is prevalent and Audit Shield is an effective mechanism in alleviating the financial effects.

The tax audit insurance offering covers the professional fees that help you, as an accountant, assist your client to respond to an official audit, enquiry, investigation or review of returns lodged with the Australian Taxation Office (ATO) or other federal, state or territory government revenue agency. Audit Shield avails you the confidence to help your clients, while our team deliver customised and comprehensive solutions that meet your needs. More than 2800 accounting firms across Australia, New Zealand and Canada have implemented Audit Shield.

Audit Shield provides cost effective protection and assistance against the substantial cost that may be incurred should the ATO or other government revenue agency conduct an audit, enquiry, investigation or review. Our offering will cover the costs of processes that are being made to ensure a business or taxpayer is in compliance with various tax and legislative requirements such as:

  • Income, Land and Payroll Tax
  • BAS/GST Compliance
  • Workers Compensation / WorkCover
  • Superannuation Guarantee and Compliance
  • Self-Managed Superannuation Funds
  • FBT
  • Record Keeping
  • Any query of any lodged return where the client is compelled to respond or act**

* Based on Accountancy Insurance’s Client Perceptions Survey 2014.

* Subject to the terms and conditions of the policy. Information about our tax audit insurance policy cover is provided on the Policy Cover page.

Contact Accountancy Insurance to learn more about how accountants insurance can help you to implement Audit Shield (tax audit insurance) into your Australian practice. One of our team members will be in touch promptly to discuss your needs and tailor a tax audit insurance solution for you.

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Audit Shield is underwritten by AAI Limited (ABN 48 005 297 807) trading as Vero Insurance (AFS Licence 230859). Accountancy Insurance Underwriting Pty Ltd (AFS Licence 340731) issues the product under a binder and AI provides financial product advice about and distributes the product. AIU and AI are related companies. AI is remunerated [by commission] from [AIU] when you enter into an Audit Shield [or Accountants PI] insurance contract that we arrange. Insurance will not cover every event or loss. Limits apply to cover. Cover provided by an insurance policy is subject to the terms, conditions and exclusions described in the relevant policy. Contact us for a copy.

Accountancy Insurance Level 9, 60 Albert Road, South Melbourne, VIC 3205 Australia (03) 9257 3000.