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(Continued from previous article) Now, another thing we have to take up in discussing gift taxes would have to be the differences between the gift tax as an American transfer tax and the federal income tax treatment of gifts – because there IS a difference, and sometimes they can get confused for each other.

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(Continued from previous article) Having understood what credits are in the context of federal estate taxation, we can now move on to discuss the exemptions and tax rates that are applicable to this particular federal transfer tax. Before we move on, however, we should address the fact that there are still some people […]

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(Continued from previous article) Now that we’ve determined what makes up the value of the taxable estate – that is to say, the gross value of the estate minus the various deductions, it’s time to figure out what we call the “tentative tax base” from which we will determine the tentative value that needs to […]

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(Continued from previous article) So far, what has been discussed is how one is federally taxed as a regular individual; that is to say, we have learned what taxes are levied and withheld based on the normal individual person. That being said, it is only right that we move on to taxes […]

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(Continued from previous post) So: we have come to establish that one of the most important means of gathering federal funding involves income taxation, the taxing of individuals by means of requiring them to allot a portion of their annual earnings for the sake of the central or federal government. We have also […]

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Federal taxation in the United States of America is pretty hard to understand if you just decide to skim through the details instead of sitting down and really trying to get a sense of what it’s all about. Again, it is essential that we know the basics and essentials of taxation so we […]

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The taxation system of the United States of America, at first glance, may seem incredibly complicated. While it is very surely a complex system, it is not that hard at all to understand, once you take some time off to understand it. After taking up much of the history of federal taxation […]

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(Continued from previous article) In 1932, the crashing economy some major changes in the taxation system, which, by that point, helped bring the importance of income tax to the forefront of federal taxation. The government hoped that the Revenue Act of 1932 would generate one point one billion dollars worth of new revenue […]

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(Continued from previous article) By March 1917, Congress had made some pretty big changes in the federal tax system, one of which is the corporate excess profits tax. The corporate excess profits tax essentially taxed any profit or income generated by a corporation that is greater than what is deemed reasonable in […]

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As was mentioned before, many individuals have some form of discomfort, some form of trepidation, at the thought of taxation and taxes, in that the numbers begin to blur and all the rules and regulations tend to become dizzying in their quantity. Nevertheless, it must be taken into account that despite the relationship […]

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