Salary Paycheck Withholding Calculator 2019

salary paycheck calculator

Salary paycheck withholding calculator 2019  is an easy to use take at home pay calculator to tell you amount of taxes deducted or to be deducted as Federal income tax or state income tax or social security or medicare tax. The calculation can be done for paycheck that is daily ,weekly,biweekly ,monthly or annually. A …

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Section 179 Tax Deduction Calculator

section 179 deduction calculator

Section 179 Deduction has a real impact on your equipment costs. Here’s an easy to use calculator to estimate your tax savings on equipment purchase through section 179 deduction in 2019.

How Section 179 Deduction Saves a lot of Taxes!

Section 179 Deduction

Section 179 DeductionFor small business , section 179 deduction is great !The Tax Cuts & Jobs Act has amended depreciation rule under section 179 of the Internal Revenue Code to allow the claim of $1,000,000 of depreciation from $ 5,00,000 allowed earlier.Even the bonus depreciation is now 100 percent. The TCJA has further increased the equipment purchase limits to $2.5 million. 

What is IRC Section 179 ?

Section 179 deduction is basically claimed of depreciation in one year . Simply put, Internal Revenue Code allows a business person to claim 100 % of expense on certain types of capital expenditure i.e on buying assets for use in business. This is unlike other capital assets where the full depreciation is not allowed. So section 179 expense has a direct effect on lowering your business profit and consequently results in huge savings on tax payments.For example, if you buy a car for $ 50,000 for business purpose and immediately used, you can claim $ 50,000 as the deduction under section 179 by opting and attaching the form 4562 with your tax return.

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IRS Lowers Estimated Tax Penalty Threshold for 2018

The IRS has announced that  it has given tax relief to many  taxpayers who were unable to properly adjust their withholding and estimated tax payments to reflect an array of changes under the Tax Cuts and Jobs Act (TCJA), the far-reaching tax reform law enacted in December 2017. Usually, a estimated tax penalty applies at tax filing if too little is paid during the year. …

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11 IRS Tax Help Tools That Solves Common Problems

IRS provides many self help tools t taxpayers for free . These tax help tools available on  IRS.gov solves many of the common problems like tax preparation or  tax filing , knowing about refund , paying taxes easily viewing tax records , estimating tax or tds by using the tax calculator. Here are the ten …

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US Tax Court on Alimony : Payment of Ex-Spouse’s Student Loans Deducible !

deduction of alimony payments

Alimony is taxable and the deduction for alimony is allowed from taxable income of the payer . However , the question whether a particular payment cn be considered as alimony is a matter of interpretation . IRS and tax payers are often at logger head on this aspect. One such case is that of  JEREMY …

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2019 Tax Deadlines for Filing 2018 Business Returns

Knowing about tax deadline or when are business tax returns due is quite a common thought when the year is near the end. The business owner often out-source  the tax filing and accounting  job, still it is important for them to keep the tax calendar updated. So this post is for all of them  .The …

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Latest IRS Phone Number : Save It !

Internal Revenue Services guides and help taxpayer through phone services . So , it helps if you have latest IRS numbers for contacting them and asking for help . This website will update the list of IRS phone numbers every January . List of Latest IRS Phone Numbers IRS help lines are open Monday through …

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