Category: Taxes
How to Calculate Federal Income Tax
This video uses an example to demonstrate how an individual’s federal income tax is computed
Calculating federal taxes and take home pay | Taxes | Finance & Capital Markets | Khan Academy
This video shows how to calculate federal taxes and take home pay
How to Do Your Taxes EXPLAINED!
A complete guide to federal income taxes, state income taxes, tax returns, IRS forms, IRS refunds, 1040EZs, 1099s, and many more to file your tax return.
What Is a Tax Credit? | Financial Terms
Understanding what a tax credit is.
Tax deductions introduction | Taxes | Financial & Capital Markets | Khan Academy
Understanding what a tax deduction is.
Taxes: Crash Course Economics #31
Explaination of what taxes are, what they do for you, and why you should consider taking a job that puts us in the next tax bracket.
The 7 Smartest Things You Can Do With Your Tax Refund | The 3-Minute Guide
Offers suggestions on how to use your tax refund. Topics include: savings, debt payment, retirement, health savings account, repairs, investments, social activiites
Understanding Pre Tax Benefits
TSA is a transportation plan, the money is taken from your pre-tax salary. Health FSA sets money on the side for things like small medical expenses, however if you don’t use it there is a chance to lose your money. 401k is an investment account, a tax deferred account until you take your money out. Some employers also offer matching percentage of the money you invest. But there is always a risk of loosing money so you must read to make sure you know where you are putting your money.
What is an IRA? / Wall Street Survivor
Traditional IRA is tax deductible, if he invested 10,000$, when he retires and decides to get his money back, his money will be only taxed at his retired amount because his income is smaller.
Roth IRA’s/ Finance and Capital Markets/ Khan Academy
This shows exactly how Traditional IRA works compared to Roth IRA. Which is the best scenario for both and what would happen if you touch any of the money that is tied up in these accounts. It explains how the taxes and penalty is calculated and what portion you would lose if it had to be taken out.