What's That? Finance‪.‬ Wayne F.

In this episode I cover Sales Tax, Excise Tax, Property Tax, Estate Tax and Inheritance Tax.



Twitter: @whatsthatfinanc

Email: whatsthatfinance@gmail.com



-Show Materials-



Sales tax rates by state: https://www.salestaxinstitute.com/resources/rates



old article saying almost nobody pays use tax: https://www.npr.org/sections/money/2013/04/16/177384487/most-people-are-supposed-to-pay-this-tax



Excise Taxes: https://www.thestreet.com/personal-finance/taxes/excise-tax-14916752

https://www.freshbooks.com/hub/taxes/an-excise-tax

https://www.irs.gov/businesses/small-businesses-self-employed/excise-tax

https://www.taxpolicycenter.org/briefing-book/what-are-major-federal-excise-taxes-and-how-much-money-do-they-raise



Property tax rate calculator: https://smartasset.com/taxes/property-taxes



Estate Tax: https://www.investopedia.com/terms/e/estatetax.asp

       https://smartasset.com/taxes/all-about-the-estate-tax

https://www.taxpolicycenter.org/briefing-book/how-do-estate-gift-and-generation-skipping-transfer-taxes-work

https://www.irs.gov/businesses/small-businesses-self-employed/estate-tax





State Estate Tax: https://www.actec.org/resources/state-death-tax-chart/

 https://taxfoundation.org/state-estate-tax-state-inheritance-tax-2020/



Inheritance Tax: https://smartasset.com/taxes/all-about-the-inheritance-tax

https://www.nerdwallet.com/blog/taxes/inheritance-tax/

https://www.investopedia.com/terms/i/inheritancetax.asp

 

Inheritance Tax Rates: 



Maryland: https://www.marylandtaxes.gov/business/estate-inheritance/index.php



Nebraska: https://smartasset.com/estate-planning/nebraska-inheritance-laws



Kentucky: https://revenue.ky.gov/Individual/Inheritance-Estate-Tax/Pages/default.aspx



New Jersey: https://www.nolo.com/legal-encyclopedia/new-jersey-inheritance-tax.html

 

Pennsylvania: https://www.revenue.pa.gov/GeneralTaxInformation/Tax%20Types%20and%20Information/InheritanceTax/Pages/default.aspx



Iowa: https://tax.iowa.gov/sites/default/files/idr/forms1/RateSch%2860061%29.pdf

----UPDATED LINKS----

(it's likely that more has changed than this, so please, if you have any questions at all, email me.)

https://taxfoundation.org/2021-tax-brackets/#brackets

https://taxfoundation.org/2021-tax-brackets/#capgains

https://taxfoundation.org/2021-tax-brackets/#standard



In this episode I cover what taxes are, income taxes, payroll taxes, and capital gains taxes. 

Email: whatsthatfinance@gmail.com 

-Show Materials- Tax Brackets: 

For Single Individuals, Taxable Income Over: $0 = 10%  $9,875 = 12%  $40,125 = 22% $85,525 = 24% $163,300 = 32% $207,350 = 35% $518,400 = 37% 

For Married Individuals Filing Joint Returns, Taxable Income Over: $0 = 10% $19,750 = 12% $80,250 = 22% $171,050 = 24% $326,600 = 32% $414,700 = 35% $622,050 = 37% 

For Married Individuals Filing Separately, Taxable Income Over: $0 = 10% $9,875 = 12% $40,125 = 22% $85,525 = 24% $163,300 32% $207,350 35% $311,025 = 37% 

For Heads of Households, Taxable Income Over: $0 = 10% $14,100 = 12% $53,700 = 22% $85,500 = 24% $163,300 = 32% $207,350 = 35% $518,400 = 37% 



Long-Term Capital Gains Tax Rates: 

Single Filers $0 to $40,000  = 0% $40,001 to $441,450 = 15% and $441,451 or more = 20% 

Married, Filing Jointly $0 to $80,000 = 0% $80,001 to $496,600 = 15% $496,601 or more = 20% 

Married, Filing Separately $0 to $40,000 = 0% $40,001 to $248,300 = 15% $248,301 or more = 20% 

Head of Household $0 to $53,600 = 0% $53,601 to $469,050 = 15% $469,051 or more = 20% 



Links/Further Reading:  

Individual Income Tax:  

https://taxfoundation.org/tax-basics/individual-income-tax/ 

https://www.nerdwallet.com/article/taxes/federal-income-tax-brackets 

State Income Taxes:  

https://www.nerdwallet.com/article/taxes/state-income-tax-rates 

Local Income Taxes:  

https://taxfoundation.org/local-income-taxes-2019/ 

Standard Deductions: 

https://www.nerdwallet.com/article/taxes/tax-deductions-tax-breaks 

Itemized Deductions:  

https://www.investopedia.com/articles/taxes/08/itemized-deductions-overview.asp 

Tax Credits:  

https://www.irs.gov/credits-deductions-for-individuals 

https://www.nerdwallet.com/article/taxes/what-tax-credits-can-i-qualify-for 

https://turbotax.intuit.com/tax-tips/tax-deductions-and-credits/the-5-biggest-tax-credits-you-might-qualify-for/L3o8qrNnC 

Payroll Taxes: 

https://taxfoundation.org/what-are-payroll-taxes-and-who-pays-them/ 

Capital Gains Tax Rates: 

https://www.nerdwallet.com/article/taxes/capital-gains-tax-rates 

Section 1202:  

https://www.investopedia.com/terms/s/section-1202.asp 

Unrecaptured Section 1250 Gains:  

https://www.investopedia.com/terms/u/unrecaptured-1250-gain.asp

I'm expecting to be done with the first episode by Monday.  



Email: whatsthatfinance@gmail.com