Personal Taxes – 1040

IRS 1040 – Filing Status

Filing Status The first thing you need to determine in preparing your 1040 is what your filling status is. What your marital status is on the last day of the year has the most effect on which options are available to you. The five classification of filing status are: Single Married Filing Jointly Married [...]

By |2020-05-27T13:50:02+00:00January 1st, 2020|Personal Taxes - 1040|0 Comments

Personal Taxes – Income Tax Brackets

Your filing status is what determines what table is used to determine your tax rate. Federal Income Tax 2019 Tax Brackets: Single Filers The income tax brackets if you’re just filing a 1040 for yourself are: Tax rate Taxable income bracket Tax owed 10% $0 to $9,700 10% of taxable income 12% $9,701 to [...]

By |2020-03-11T17:13:55+00:00May 15th, 2018|Personal Taxes - 1040|0 Comments