In a perfect world, the income you receive would be all yours to keep. However, the tax man is on his way and any dollar you earn is subject to a tax bill. But what is taxable income? Is it everything ...

Your taxable income is your federal tax liability based on both earned and unearned income received during the tax year. An individual’s taxable income is the amount of money they’ve received over the ...

Enter household income you received, such as wages, unemployment, interest and dividends. Choose the filing status you use when you file your tax return Input the total of your itemized deductions, ...

Text Callout : Key Takeaways - How to Calculate Your Effective Tax Rate Your effective tax rate is a good indicator of how well you’ve been managing your tax situation. It’s smart to calculate your ...

In this scenario, even though you’re in the 32% bracket, you would actually pay only about 20.8% of your taxable income in taxes ($41,687/$200,000). Taxable income typically includes wages (including ...

The alternative minimum tax (AMT) calculation determines whether a taxpayer must pay an additional amount beyond their regular income tax liability. To calculate AMT, taxable income is adjusted by ...

Tax terminology can often feel like a foreign language, but there are a few standard terms a taxpayer will benefit from understanding. Adjusted gross income, or AGI, is one of these terms, and most ...

Income refers to money, property or services you receive, typically in return for some service rendered or goods sold. Typical sources of income can include your pay as an employee, your earnings as a ...

Enter household income you received, such as wages, unemployment, interest and dividends. Choose the filing status you use when you file your tax return Input the total of your itemized deductions, ...

The difference between your effective tax rate and your marginal tax rate -- and how they are both calculated -- are questions that many people have come tax time. With tax season well underway, it's ...