Although commonly referred to as a sales tax, the Arizona transaction privilege tax (TPT) is actually a tax on a vendor for the privilege of doing business in the state. Various business activities are subject to transaction privilege tax and must be licensed. If a business is selling a product or engaging in a service […]
The Arizona Department of Revenue (ADOR) is reminding taxpayers of some key changes when filing for the 2020 tax year. Arizona individual income tax returns for tax year 2020 will include the following adjustments: State standard deduction amounts that match the federal standard deduction amounts ($12,400 single/married filing separate, $18,650 head of household, $24,800 married […]
Here are the 2020 and 2021 estate and trust tax tables. 2020 Tax Rate Taxable Income 10% 0 – 2,600 24% 2,601 – 9,450 35% 9,451 – 12,950 37% Over 12,950 2021 Tax Rate Taxable Income 10% 0 – 2,650 24% 2,651 – 9,550 35% 9,551 – 13,050 37% Over 13,050 As always, should you […]
2019 Tax Rates & Mileage Rates. The tax items for tax year 2019 of greatest interest to most taxpayers include the following dollar amounts: The standard deduction for married filing jointly rises to $24,400 for tax year 2019, up $400 from the prior year. For single taxpayers and married individuals filing separately, the standard deduction rises […]
When was the last time you did a quick “paycheck checkup”? The IRS Withholding Calculator allows you to do just that. It will help you identify your tax withholding to make sure you have the right amount of tax withheld from your paycheck at work. Why Should I Check My Withholding? No-one wants an unexpected […]
