The only way to reduce federal tax liability is to lower your tax bracket. Tax percentage decreases as taxable income reduces. In this article, we will discuss 5 legal ways that help you reduce federal tax liability. While preparing your taxes, we usually forget to maximise the benefit given by the law to us. The reason […]

Definition – Federal Income Tax Brackets Federal Income Tax Brackets are the range of income according to which the percentage of the tax rate is decided and paid to the government by the taxpayer on his taxable income. The taxpayer doesn’t pay taxes on his total income but pays on his taxable income which is […]

If you are an employee having a particular job or multiple jobs as a source of income then you can calculate AGI – Adjusted Gross Income using W-2 form. AGI – Adjusted Gross Income is an individual’s total gross income after the deduction of certain allowable expenses. AGI helps you to determine your federal/state income taxes […]