Tax FAQ
 

How Much Money Do I Pocket In "income Tax Free" States?

Question by Ali | Posted in United States

For lesson: if I earn $100,000 a year in an "income tax free" state in the US (such as Washington, Florida, Wyoming and the others), at the end of the year, how much of it will end up in my pit if I didn't use any of it on myself -- so how much money will the govt take away from me, in any form such as federal submit tax, flat tax, blah blah tax, everything included.

Answer: My quiet made $80,000 last year and we paid $2600 in Indiana state and county tax. We paid $1500 in federal tax. (we have 4 children). $2000 in means tax for a 4 bedroom home on 2 acres. When we lived in NJ we paid $1000 in state taxes, but $9000 in riches taxes on the same size house.

To add: Do not give me credit for this, I copied it from another answerer, but I believe this encapsulation answers your question.
Money Magazine did a very interesting piece "How tax-amicable
 
 

What Is The Maximum Amount Of Tax-free Income In Canada?

Question by Maddogmc | Posted in Canada

What is the topmost amount of tax-free income in Canada for the 2009 tax year?

Answer: It depends, of progression, on your status and how many Non-refundable Tax Credits you are eligible for.

The 2009 Federal Basic Critical Amount has been announced at $10,320, up from $9,600 in 2008.

http://www.taxtips.ca/nrcredits/nrcredit s2009station.htm

Related Topics:

Los Angeles County Tax Assessor
New Income Tax Forms
County Tax Assessor Office

 
 

Working In Saudi For Tax Free Income, Are My Earnings Tax Free When I Return To The States?

Question by james f | Posted in United Kingdom

I will be in Riyadh saudia arabia earning tax free in dough for two years. Will all of my earnings be tax free when i return to the USA?

Answer: Not steadfast the exact details of this tax free earnings but all US citizens and residents are required to report worldwide earnings even if they do not reside in the US.

Related Topics:

Calculating Income Tax
940 Tax
Social Security Tax Limit

 
 

Where Does Big Companies Invest There Money For Tax Free Income?

Question by asif | Posted in Investing

where does investment companies devote there money to return a tax free and big amount to return to there customers like double in 5 years or 3 times in 7 years?
is there any special sector which can return such a big percentage of margin on return except share market?

Answer: I hesitate that a company has many options for tax free investment. Perhaps municipal bonds but you would need 14.87% per annum compounded to twice your money in 5 years, 17.0% per annum compounded to triple your money in 7 years and you're not current to find that in municipal bonds.

Related Topics:

Probate Tax
County Property Tax Appraisal
Capital Gains Tax 2007

 
 

Is There Tax Free Income For Americans Working Abroad?

Question by Lion_HRT | Posted in United States

If a healthcare craftsman working for a foreign company in Saudi Arabia, do they have to pay taxes on that income?

Answer: If you are a U S patrial you must file each year just the same as if you were living in the US. Before you file or talk to your CPA you should go to IRS.gov and review Advertising 54.
You may be able to exclude as much as $80,000 from your income. The rules are complicated and yours will not the first CPA that does not understand them. The hardest part to accept is the requirements that include a calculation of the number of days you were in the foreign county. It requires 330 days in 12

Related Topics:

Calculate Property Tax
941 Tax Form
Ga Tax Commissioner

 

© 2011 Tax FAQ