Understanding the floor of taxes that ensures everyone pays their fair share!
A humorous look at the federal corporate tax rate, its workings, and its implications for corporations.
An exemption reduces the amount of income subject to income tax and allows taxpayers to shield a portion of their income from taxation.
An overview of federal income tax, its purpose, structure, and how it affects your wallet (and sanity).
A humorous yet insightful look at the simplified version of the U.S. tax return.
Understanding Form 4868 and how to utilize it for tax extensions.
Understanding Alternative Minimum Tax and Form 6251
Understanding Income Tax Payable: Your Laughable Liability
An estate-planning tool that cleverly segregates income tax and estate tax treatments for effective wealth management.
A comedic look at the IRS Form 1040EZ – the easy-peasy tax form, now retired but never forgotten!
The tax rate paid on the last dollar earned in a progressive tax system.
The marginal tax rate is the tax rate on the last dollar of income earned.
An overview of progressive taxation, its implications, and comparisons to other tax systems.
A deep dive into proportional taxation, also known as flat tax, that simplifies the tax system.
Understanding the taxation benefit known as the Standard Deduction to reduce taxable income.
An expense subtracted from income to reduce tax liability
A financial liability reflecting taxes owed to the government based on income or other taxable events.
A ground-breaking law aimed at tax simplification and equity in the United States.
A taxpayer is any individual or business entity legally obligated to pay taxes to governmental authorities.
Understanding vertical equity in the context of income tax systems.
The principle that citizens willingly cooperate with their government by filing accurate tax returns.
