It's not just that I loathe them, though (although I really, really do!) — it's that I don't completely understand them. Did you know that tax brackets can change every year? And that every year (for the most part) the amount of money you can sock away for retirement changes? And that that amount also changes based on how much money you make?
I mean – talk about making things difficult.
To help make it through this harrowing tax season, we wanted to dig a bit deeper into "tax brackets." What are the tax brackets for 2013 (for taxes due April 15, 2014) … and what does your tax bracket say about you?
For Your 2013 Taxes
The first thing you should know when it comes to your tax bracket is … drum roll, please … which one you're in. Here's a look at the breakdown by income for 2013:
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It's tax time, and that
can only mean one thing: a big, fat refund check. (Well, okay, it might mean a
big, fat payment check, in which case this is probably not the post for you.)
Sure, you could put that
extra cash in the bank. Or use it to pay bills or buy food. BO-RING! Wouldn't
you rather treat yourself to a new gadget -- especially if it's one that can
save you money, improve your health, or encourage you to read more?
I've rounded up five
way-cool gadgets that are perfect for tax-refund splurging.
Our friends at TurboTax have given us two exclusive codes that will unlock any version of the software (up to $150 value). If you're like me and have put off doing your 2010 tax return until the last minute, here's your ticket to easier filing...
Dreaded tax season only has a few more weeks, but tax day isn't all
that bad--there are freebies and deals available. Many businesses offer free food,
deals on happy hours or dinners. You can get a "sundae stimulus" from
MaggieMoo's, free chips and queso because you have to pay the big cheese
from California Tortilla or tax day bites from Cinnabon. Don't forget to relieve
all the stress from doing your taxes with a free message. If you haven't filed
yet there are still free online tax filing offers available.
When working on our taxes, we're all looking for new deductions. There's one area that you may be overlooking: food. Most of the food you purchase isn't tax deductible, but there are a few instances where it can be. I'm not a tax professional, so be sure to check with your accountant to make sure you are following the tax code properly.
It may be too late to save money on your taxes for the current year but it is not too late to save money on next year's taxes. One of the ways in which you can lower your tax burden is by buying tax smart investments. Tax-efficient investments offer the greatest return on your money while reducing the income taxes owed.