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You and taxes

Remember Uncle Sam
As your salary grows, there will be a larger discrepancy between your gross income and net income. Here's what it all means.

Links:
W-4 and withholding, The W-4 and its worksheet -- how to figure them out, Effective tax rate -- your personal tax bracket, State income, personal and sales taxes levied, How to adjust your withholding, Guard your Social Security number

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The tax return
Along with the salary increases and investment growth, filing a tax return involves more record keeping than hanging on to a W-2. Plan over the year for the deductions you can take.

Links:
10 must-know tax terms, Basics on taxes -- Filing your return, Hassle-free tax record keeping, Common filing mistakes to avoid, Don't overlook deductions and credits, How to find an accountant, Your job hunting expenses may be tax deductible, Ins-and-outs of home office deductions, Advanced tax planning for a home-based business, Maximize a new retirement savings tax credit, Your changing tax life, Haunted by the marriage penalty, A lesson in educational savings accounts

 

-- Posted: Jan. 20, 2003

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