The Sales Tax Calculator can compute any one of the following, given inputs for the remaining two: before-tax price, sale tax rate, and final, or after-tax price.
A sales tax is a consumption tax paid to a government on the sale of certain goods and services. Usually, the vendor collects the sales tax from the consumer as the consumer makes a purchase. In most countries, the sales tax is called value-added tax VATor goods and services tax GSTwhich is a different form of consumption tax. In some countries, the listed prices for goods and services are the before-tax value, and a sales tax is only applied during the purchase. In other countries, the listed prices are after-tax final values, which includes the sales tax.
In the United States, sales tax at the federal level does not exist. At the state level, all including District of Columbia, Puerto Rico, and Guam but five states do not have statewide sales tax. States that impose a sales tax have different rates, and even within states, local or city sales taxes can come into play.
Unlike VAT which is not imposed in the U.
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In Texas, prescription medicine and food seeds are exempt from taxation. These are only several examples of differences in taxation in different jurisdictions.How does calculator work
Rules and regulations regarding sales tax varies widely from state to state. On average, the impact of sales tax on Americans is about 2 percent of their personal income. Sales tax provides nearly one-third of state government revenue and is second only to the income tax in terms of importance as a source of revenue. Reliance on the sales tax varies widely by state. Sales taxes are much more important in the south and west than they are in New England and the industrial Midwest.
Florida, Washington, Tennessee, and Texas all generate more than 50 percent of their tax revenue from the sales tax, and several of these states raise nearly 60 percent of their tax revenue from the sales tax.
New York, on the other hand, only raises about 20 percent of its revenues from the sales tax. When the U. This taxation without representation, among other things, resulted in the Boston Tea Party.
This together with other events led to the American Revolution.
Therefore, the birth of the U. Since then, sales tax has had a rocky history in the U. Some of the earlier attempts at sales tax raised a lot of problems. Sales tax didn't take off until the Great Depression, when state governments were having difficulty finding ways to raise revenue successfully.
Of the many different methods tested, sales tax prevailed because economic policy in the s centered around selling goods. Mississippi was the first inand it quickly was adopted across the nation. Today, sales tax is imposed in most states as a necessary and generally effective means to raise revenue for state and local governments.
When filing federal income tax, taxpayers need to choose to either take the standard deduction or itemize deductions. This decision will be different for everyone, but most Americans choose the standard deduction because it is simpler and hassle-free. Sales tax can be deducted from federal income tax only if deductions are itemized. In general, taxpayers with sales tax as their only deductible expense may find that itemizing deductions is not worth the time.
Itemizing deductions also involves meticulous record-keeping and can be tedious work because the IRS requires the submission of sales tax records, such as a year's worth of purchase receipts. Anyone who plans to itemize should be keeping detailed records, as it will be very helpful in determining the amount of sales tax paid. After the choice between standard or itemized deductions has been made, taxpayers have to make another decision regarding whether or not to claim either state and local income taxes, or sales taxes but not both.
Most taxpayers choose to deduct income taxes as it typically results in a larger figure. With that said, it may be better for taxpayers who made large purchases during the year to deduct sales tax instead of income tax if their total sales tax payments exceed state income tax. Taxpayers who paid for a new car, wedding, engagement ring, vacation, or multiple major appliances during a tax year can potentially have a greater sales tax payment than income tax payment.Toggle navigation 1 This calculator is created based on the original Baati longevity paper.
Since Baati et al used SES Research C60 in the experiment, it is important that this calculator gives an equivalent c60 dosage calculation based scientifically. The study was performed on rats so it is necessary to do an allometric based conversion to get an appropriate dosage for humans. What is allometric scaling? It is not the case that a dose based on weight for a rat has a 1-to-1 ratio to a dose based on weight for humans. This is due to the difference in metabolism.Freya hattenberger pretty girl
If you continue to use this site we will assume that you are happy with it.The Age Calculator can determine the age or interval between two dates. The calculated age will be displayed in years, months, weeks, days, hours, minutes, and seconds. Related Date Calculator Time Calculator. The age of a person can be counted differently in different cultures.Ik wil huren
This calculator is based on the most common age system. In this system, age grows at the birthday. Most western countries use this age system. In some cultures, age is expressed by counting years with or without including the current year. In one of the traditional Chinese age systems, people are born at age 1 and the age grows up at the Traditional Chinese New Year instead of birthday. In some situations, the months and days result of this age calculator may be confusing, especially when the starting date is the end of a month.
For example, we all count Feb. However, there are two ways to calculate the age from Feb. If thinking Feb. If thinking both Feb.Orc name generator lotr
Both calculation results are reasonable. Similar situations exist for dates like Apr. The confusion comes from the uneven number of days in different months. In our calculation, we used the former method. Date of Birth Age at the Date of. Financial Fitness and Health Math Other.However, the easiest way to figure it out is with a Social Security tax calculator, which can help you determine how much will be taxable at your marginal tax rate. If you didn't have significant income besides Social Security benefits, then the answer is typically no.Allergic reaction on face only
Whether or not your benefits are taxable depends on your combined income, which is defined as your adjusted gross income AGI plus your nontaxable interest income and one-half of your Social Security benefits. And when it comes to married couples who file jointly, both spouses would need to be high earners for their combined Social Security benefit to exceed the threshold. In a nutshell, if your Social Security is taxable, then it will probably be because you had substantial income other than your benefits.
It's also worth mentioning that if you're married and file separately, then the income threshold is zero. This means your benefits will probably be taxable, regardless of income. It's not a simple of multiplication, and there are several variables that determine the actual amount of taxable Social Security benefits. The formula to figure out how much of your Social Security income may be taxable is rather complicated, and you can see an example of it on page seven of IRS Publication Or, better yet, if you have information about your other income, you can use a Social Security tax calculator to calculate this amount.
Not only can you input your Social Security benefits and other income to determine how much of your benefits are taxable, but if you know your marginal tax rate, or tax bracketthe calculator can give you a good estimate of how much your Social Security benefits can increase your tax bill.
As with any tool, it is only as accurate as the assumptions it makes and the data it has, and should not be relied on as a substitute for a financial advisor or a tax professional.
The advantage of using this calculator to determine the potential tax implications of your Social Security benefits is that you can plan accordingly. While nobody enjoys paying taxes, having some of your benefits withheld, or paying the IRS every three months, is certainly better than getting hit with a big tax bill at the end of the year.
Updated: Apr 16, at PM.
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Published: Jun 6, at PM. Matt specializes in writing about bank stocks, REITs, and personal finance, but he loves any investment at the right price.
Follow him on Twitter to keep up with his latest work! Image source: Getty Images. Stock Advisor launched in February of Join Stock Advisor. Related Articles.All the information presented is for educational and resource purposes only. It is not intended to provide specific or investment advice. We don't guarantee the accuracy of the tool and suggest that you consult with your advisor regarding your individual situation.
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For security, the "Quick Calculator" does not access your earnings record; instead, it will estimate your earnings based on information you provide. So benefit estimates made by the Quick Calculator are rough. Although the "Quick Calculator" makes an initial assumption about your past earnings, you will have the opportunity to change the assumed earnings click on "See the earnings we used" after you complete and submit the form below.
You must be at least age 22 to use the form at right. Lack of a substantial earnings history will cause retirement benefit estimates to be unreliable. If you entered 0, we assume you are now retired.
Enter the last year in which you had covered earnings and the amount of such earnings. Month Year By "retirement date," we mean the month in which you intend to stop working. We assume that this is also the month for which you want benefits to begin. However, if you enter a date before you are eligible for benefits, we will assume you want to start receiving benefits at the earliest possible age age Note that using this option gives only one benefit estimate. If you do not give a retirement date and if you have not reached your normal or full retirement agethe Quick Calculator will give benefit estimates for three different retirement ages.
If you have any questions or comments about the Quick Calculator, please visit our Contact Social Security page for ways to contact us. Remember to use "Quick Calculator" as the subject so we know which calculator your question or comment refers to.
Your annual earnings must be earnings covered by Social Security. Need Larger Text? Skip to content Social Security Online. Office of the Chief Actuary. Social Security Quick Calculator. Benefit Calculators Frequently Asked Questions. Future retirement date option If you have decided upon a retirement date, enter the month number and year in which you plan to retire.Company Filings More Search Options. Check out an investment professional's registration status and background at Investor.
Check Your Investment Professional. Check out updates on the SEC open data program, including best practices that make it more efficient to download data. Search SEC. Securities and Exchange Commission. Company Name. Search c. Ticker or CIK. The SEC remains fully operational and committed to our tripartite mission to protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation. Here is a quick reference guide to actions taken by the SEC for various market participants.
Military Outreach Initiative. Capital Formation Proposal. Expanding Investor Opportunities. April 17, April 16, April 13, April 9, April 8, E-mail Updates.
We Inform and Protect Investors. Protect Your Money! Advance Fee Fraud. Form K.Alienware 17 r2 bios recovery
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