February 25, 2023

30+ Things College Graduates (and Everyone Else) Need To Know About Tax Rates

 Answers, tips, and info for getting through your first (or second or third) tax season.

"This guide will give you a solid understanding of tax rates, and everything connected to them – as well as set you on a path toward managing your finances with confidence and efficiency."

https://moneyzine.com/tax/30-tax-facts-for-students/ 

Learn: 

What is a tax rate?

The purpose of tax rates

How tax rates are calculated

Tax rates in 2022/2023

Who pays these rates?

Getting ready for Tax Day

Filing taxes - general information

Filing taxes - pro tips

Dangers of lax reporting- the importance of honesty

How a tax rate can go up or down Strategies for reducing taxes

FICA taxes- Social Security and Medicare

Tax deductibles and credits

Getting your credit/refund

About state tax rates

8 states do not levy income tax on residents but make up for revenues with sales and property taxes

Progressive/flat-rate tax systems

So how much will you actually pay?

Standard and itemized deductions

Do tax rates apply to tips and commissions?

Tax rates for gigs or multiple jobs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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