Income Tax 2017-18 Online | Tax Refund Calculator 2017-18

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In this presentation we discuss about Income tax, taxable Income, Gross Income, Adjustments, Capital Gains etc… For a newbie in filing online taxes we help you to calculate your taxes with our free tax refund calculator and fill all the tax forms and everything. So don’t waste your time and file Your Income Tax Return with few simple clicks, you yourself can file your income tax return with us.

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United states tax :

United states tax www.itrmart.com

What Is Income Tax?:

www.itrmart.com What Is Income Tax?

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In the United States, a tax is imposed on income by the federal government, most state governments, and many local governments. The income tax is determined by applying a tax rate, which may increase as income increases, to taxable income as defined. Individuals and corporations are directly taxable, and estates and trusts may be taxable on undistributed income. www.itrmart.com

What is taxable income?:

What is taxable income? www.itrmart.com

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Taxable income is the amount of income used to calculate an individual's or a company's income tax due.  Taxable income is generally described as gross income or adjusted gross income minus any deductions or exemptions allowed in that tax year. www.itrmart.com

What is gross income?:

What is gross income? www.itrmart.com

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Gross income is an individual's income and receipts from nearly all sources. It is the starting point for determining the taxes that individual will pay. Sources of gross income or pay include salary, wages, tips, capital gains, dividends, interest, rents, pensions and alimony. www.itrmart.com

Adjustments :

Adjustments www.itrmart.com

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To gross income of individuals are made for alimony paid, contributions to many types of retirement or health savings plans, certain student loan interest, half of self-employment tax, and a few other items. The cost of goods sold in a business is a direct reduction of gross income. www.itrmart.com

Capital gains :

Capital gains www.itrmart.com

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Capital gain is an increase in the value of a capital asset that gives it a higher worth than the purchase price. The gain is not realized until the asset is sold. A capital gain may be short-term or long-term (more than one year) and must be claimed on income taxes. Capital gains include gains on selling stocks and bonds, real estate, and other capital assets. The gain is the excess of the proceeds over the adjusted basis of the property. www.itrmart.com

Tax credits :

Tax credits www.itrmart.com

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The value of a tax credit depends on the nature of the credit, and certain types of tax credits are granted to individuals or businesses in specific locations, classifications or industries. Unlike deductions and exemptions, which reduce the amount of taxable income, tax credits reduce the actual amount of tax owed. www.itrmart.com

Alternative Minimum Tax:

Alternative Minimum Tax www.itrmart.com

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The alternative minimum tax (AMT) is a supplemental income tax imposed by the United States. Federal government required in addition to baseline income tax for certain individuals, corporations, estates, and trusts that have exemptions or special circumstances allowing for lower payments of standard income tax. www.itrmart.com

Tax returns:

Tax returns www.itrmart.com

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Tax returns in the United States are reports filed with the Internal Revenue Service (IRS) or with the state or local tax collection agency containing information used to calculate income tax or other taxes. Tax returns are generally prepared using forms prescribed by the IRS or other applicable taxing authority www.itrmart.com

Tax payment :

Tax payment www.itrmart.com

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Taxpayers must pay income tax due without waiting for an assessment. Many taxpayers are subject to withholding taxes when they receive income. To the extent withholding taxes do not cover all taxes due, all taxpayers must make estimated tax payments. www.itrmart.com

Tax penalties:

Tax penalties www.itrmart.com

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The IRS will work with you. The penalty for filing late is normally 5 percent of the unpaid taxes for each month or part of a month that a tax return is late. That penalty starts accruing the day after the tax filing due date and will not exceed 25 percent of your unpaid  taxes. www.itrmart.com

File your income tax return online:

www.itrmart.com File your income tax return online Gone are those days when you used to file your returns with a pen and a pencil in hand, struggling with the lengthy forms. E-filing is the new way to file your taxes with the income tax department . E-filing is a very simple process of submitting your documents electronically to the Income Tax Department. E-filing offers a lot of benefits to the taxpayers; making their life very easy and hassle free.

benefits of filing the return online :

www.itrmart.com benefits of filing the return online Quick Processing Ensures better accuracy File from anywhere anytime Confidentiality Access Historical data anytime Environment friendly Receive Faster Refunds Attain financial knowledge Ease of use Saves money

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www.itrmart.com Process of Filing income tax 2017-18, Federal tax 2017-18, State tax return is started. Here we providing you income tax online, all states tax forms, IRS tax filing and also you calculate your tax returns with our free tax return calculator 2017-18. So, do not waste your time and file your Income Tax R eturn 2017-18 Online .

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