Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Federal Income Taxes and other Taxes topics.
H&R Block Tip: Favorable income tax brackets are found in the married filing jointly income tax filing status. The least favorable is found in the married filing separately income tax bracket. If you have qualifying dividends and capital gains, you will compute your tax due by using the Qualified Dividends and Capital Gains Tax Worksheet (schedule D). These rates are generally lower than the income tax rates used on ordinary, taxable income (which many individual taxpayers use). Confused? We can help. If you need help determining your income tax rates, let a qualified H&R Block professional help you with your income tax preparation. You can purchase income tax prep software programs and get 24-hour online service from qualified tax professionals.
|Jennifer Mathes, Ph.D.|