by selfworkland | Nov 6, 2023 | Tax
Are you concerned about What Is the FICA Tax on a Weekly Paycheck? Well, the Federal Insurance Contributions Act (FICA) tax is a mandatory payroll deduction in the United States. It funds Social Security and Medicare programs. This tax is calculated based on a...
by selfworkland | Nov 6, 2023 | Tax
The NJ Exit Tax refers to a prepayment of state taxes owed by sellers in New Jersey. It is based on the profit from the sale of their homes. It is not actually any additional tax. But rather a way to ensure that sellers fulfill their tax obligations to the state. When...
by selfworkland | Nov 6, 2023 | Tax
If you’ve come across Code 971 on your tax transcript, you may be wondering what it means and how it impacts your tax-related matters. Code 971 is a notice issued by the IRS to inform taxpayers of issues or discrepancies with their tax returns. It is an...
by selfworkland | Nov 5, 2023 | Tax
RTA Excise Tax is a form of taxation imposed in regions served by the Regional Transit Authority (RTA). Which includes Pierce, King, and Snohomish counties. It is an important aspect of financial obligations for residents in these areas. This tax contributes to the...
by selfworkland | Nov 4, 2023 | Tax
Understanding the distinction between an excise tax and a sales tax is crucial for comprehending how these taxes function and impact various individuals and businesses. An excise tax is a tax that applies to specific goods, such as cigarettes, alcohol, and gasoline....
