The government is really putting these laws into place so people can’t find a way to give away a lot of money to avoid the federal gift tax which is the tax people are hit with when receiving money as an inheritance. You are going to be taxed one way or another. You can either …
People with Higher IncomesIf you happen to have a higher income you may or may not qualify for the tax credit. For homes purchased after November 6, 2009, the new law raises income limits. If you have an adjusted gross income up to $125,000 for singles and up to $250,000 for joint filers then, the …
Believe me, I understand all of the reasons why married people might want to file separately but, you still have to work together, share information, and figure it out. Married Tax Brackets Once you’ve decided on your married filing status you can begin to look at your taxable income numbers. Yes, I said taxable income. …