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Year End aipodaniki vastundi. -- Plan your finances accordingly


Spartan

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20 hours ago, DaleSteyn1 said:

manam katte interest meedha tax return claim cheyachu antaru ga car loan lo andhuku aduguthuna .inko question hyd lo oka flat konnanu hdfc lo loan teesukuni last yr so e yr kooda india lo loan ki interest kadthuna kadha so tax returns lo malla claim cheyacha 

Idi mention cheste bokkalo esi bhogi pandaga chestaru neeku

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Income tax for year 2016:

Single taxpayer, no children, under 65 and not blind, taking standard deduction;

  • $40,000 gross income – $6,300 standard deduction – $4,050 personal exemption = $29,650 taxable income
    • $9,275 × 10% = $927.50 (taxation of the first income bracket)
    • $29,650 – $9,275 = $20,375.00 (amount in the second income bracket)
    • $20,375.00 × 15% = $3,056.25 (taxation of the amount in the second income bracket)
  • Total income tax is $927.50 + $3,056.25 = $3,983.75 (~9.96% effective tax)

 

 

  • $40,000 (adjusted gross income)
    • $40,000 × 6.2%[22] = $2,480 (Social Security portion)
    • $40,000 × 1.45% = $580 (Medicare portion)
  • Total FICA tax paid by employee = $3,060 (7.65% of income)
  • Total federal tax of individual = $3,983.75 + $3,060.00 = $7,043.75 (~17.63% of income)

Total federal tax including employer's contribution:

  • Total FICA tax contributed by employer = $3,060 (7.65% of income)
  • Total federal tax of individual including employer's contribution = $3,983.75 + $3,060.00 + $3,060.00 = $10,103.25 (~25.28% of income)
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NRE accounts lo dabbula meeda interest vasthe , dhanni tax filing lo mention chesi interest kattalanta. Usa banks give 1099 Interest form but india banks ivvavu so just mention chesi interest amount ki 30% tax kattalanta. 

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On 11/11/2016 at 0:43 PM, mettastar said:

paisalaki kakkurthi padi desi gallatho tax returns file cheyinchakandi... eyeareyes ki dorikithe dhoola theerudhi

Correct. Always HR block. Every time exceeded my expectations on returns. 

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On 11/11/2016 at 0:47 PM, dasara_bullodu said:

bhayya experience tho cheptunna desi is 100 times better than HR block

100 times a way lo koncha chepppuu... they get you more money than HR and TT. endhukante fake info isthaaru IRS ki on top of it we will take care if any issues with in 2-3 yrs antaaaru...kaaani matter enti ante IRS nee paina doubt vasthe same year ninnu contact kaaadhu ninnnu list lo pedthundhiii chaaala mandhi untaaru ila so okkakiriki letters pampisthundhiii nee time vachesaariki aaa 3 years ayyipothundhii... emaina issue vasthe help annnavaaadu chethulu etthesthaaadu endhukante nuvvu file chesinaa tax year dhaati 2-3 years ayyipoyindhii ga something like warranty period... 

BETTER DO YOUR OWN TAXES...

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