 I just received(march 3 2008) 433$ in my Bank account from Canada RIT can somebody tell me what is Canada RIT? |
I Called Revenue Canada and of course they have no clue what I'm talking about:)
Additional Details
My income tax is a different amount of money so I dont think it's my income ... |
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 Turbo Tax users dont get direct deposited stimulus checks!? |
| I just learned that if a tax payer used say...turbo tax and had the filing fees taken out of their refund...then the refund was given to the "other" bank then refunded to the tax payer....... |
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 Bush tax refund?? |
So from what I hear, Bush is giving everyone 600-1200 dollars supposed going to be sent to everyone soon. I was just wondering, if you're not a tax payer, can you still get this money??
A... |
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 Does anyone know.....stimulus payment? |
| I've read that if they have your bank info, it goes direct deposit. But, when we got our taxes done, we had our rebate put on a prepaid credit card. Anyone know if they will add the payment to ... |
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 Shouldnt taxes in every state be the same? |
| Some may say it is, but let me explain, Here in Ohio, in certain counties I pay 7 % on a dollar, in other places I pay 8%. Whe I go to other states( Kentucky, Tennessee, Georgia, and Florida), I pay ... |
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 Can i claim income support if im on incapacity benefit? |
| i have arthiritis and thcouncil have given me a flat but i want to know if i can claim income suppot as well as incap as i cant get any help with furnishing my home thanks to any boby who can ... |
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 How much in a bi-weekly paycheck with 38K? |
| ok, i just changed jobs. My old job i was making 48K annually and my take home paycheck was $1100 (this is with taxes and evreything taken out). I couldnt stand the place, so i got a better job but ... |
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 If I fled married filinf jointly can i file seperatly? |
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How wood that work with the earned income credit ?... |
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 Capital gains verses regular income? |
| How much more money could the goverment generate if capital gains income (excluding that which is tax exempt) were taxed the same as regular income?... |
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 Do i claim head of household or single? |
I am not married I do have a 7 month old son but I live with my boyfriend and his parents. We do pay rent. I am claiming my son, do i qualify?
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smiley face boxer: i do ... |
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 WHAT DO YOU THINK OF MPs £22,000 2ND HOME ALLOWANCE EVERY YEAR?HOW CAN THEY JUSTIFY THEIR CLAIM TO IT? |
| Theres been a lot of talk about a list of 38 items of household goods & equipment they can claim yearly, 2 of which are a new kitchen at a cost of £10,000, & central heating costing £6-£70... |
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| Free efiling? |
Hi,
Iam mark
I want to submit my tax returns through electronic filing, and i heard that i can save more money while submiting e-filing. when i started my search for this i found a offer ... |
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 Annual holiday entitlement? |
| I am currently working 34.35 hours per week and have been doing this amount fot the past year, i am alllowed 19 days of holiday each year, is this correct, i thought it was more like 21? Ive been ... |
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 Should garnishments be taken out before or after your gross income is taxed? |
I'm just curious if a garnishment should be taken out before or after I get taxed on my paycheck? Any thoughts? thanks
Additional Details
My garnishment is not based on my pay. It ... |
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 Tax question....dont worry it is not that boring....go ahead and answer it....? |
| How come I had a friend go to H&R block and they told him that he owed $200 dollars for the year. He didnt like that answer so he went to someone called "the tax doctor" and he ended ... |
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 Is the "Where's my rebate?" search up and running yet? |
| I saw on the IRS site, that they will make a search on tax stimulus rebate status.... |
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tom2764 | How does the higher tax bracket work? |
One of the Lads at work thinks the higher tax band starts after £30,500 I thought it was more myself, but if this is true if I carry on working like I am, I could easily hit that and more. So how does it work if I go over that do I just get taxed 40% and that’s it or is there away around it?, as I’m staff, I get no allowances for anything I don’t have a company car etc???? |
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Petra
 |
The first thing you should note is that you have an annual personal tax allowance of £5035. This means you do not pay tax on the first £5035 in any tax year. (april-april).
On the next £2151 you pay tax at a rate of 10%.
Between £2151 and £33300 (over the allowance) you pay 22% Tax.
Anything above this you pay 40% tax.
This means the higher tax band starts at £38,335 (£33,300+£5035). Any income above this will be subject to 40% income tax.
To complicate matters you pay national insurance at 11% for earnings between £97 and £645pw but this drops to 1% above £645pw.
If you are close to the higher tax band you may be able to bring yourself back below the band by paying more into your pension. There is no other legitimate way to avoid the 40% demand.
Also make sure your savings and investments are in tax efficient forms (such as ISAs). This will mean that you don't have to pay tax on your interest.
Note:-
This assumes you are below 65 (above 65 your personal allowance increases to £7280).
Income includes all income including investments (rental income, interest, share dividends etc.)
Be happy with earning a decent wage! |
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MB
|
Higher rate tax band starts at £33,3000. Anything you earn above this amount gets taxed at 40% - no way around it! |
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purpletia2000
|
You are taxed on the first £35000 at 22% after your tax allowance, then at 40% on the amount above £35000.
i.e up to £5030 not taxed,
the amount up to £35000 taxed at 22%
(so 22% of £29970)
then 40% on the amount over £35000.
Hope this helps. |
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zacchaeus
|
PM is exactly right. I should know - I'm a tax inspector! :-P |
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Jason H
|
Here is a website i found for you my friend. Basically the tax bracket for higher earners starts at £33,300 at 40%. http://www.coutts.com/marketinfo/uktaxrates.asp |
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bob
 |
in the governments favour ............... |
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gillian b
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First, you should take your annual earnings and deduct £5035 from it, as everyone can earn this amount tax free per year.
Then, with the remaining income, deduct £2150 and this is taxed at 10% (so £215). This is the same for everyone regardless of their income. Then with the remaining income, deduct £33,300 from it and this amount is taxed at 22%. Finally, the remaining amount is taxed at 40%. It can be really confusing, but any book on taxation in your local library schould help. You should note that if you earn interest on saving accounts or UK dividends that this will be taxed at their higher rate as well |
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dream theatre
 |
£33 000 plus you pay %40 tax |
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teala
 |
40% is the highest rate you'll pay and I don't know of a way around paying unless you employ a good accountant who may be able to mitigate your payments, depending on your circumstances. Good luck. |
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jojo
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the 40% bracket starts at £35,000 works the same way as those on less than £35,000 except you pay 40% and not 22%. no way round it |
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