Payroll tax is a portion of your earnings that is automatically deducted from your paycheck before you receive it. This tax is used to fund various government programs, including Social Security, Medicare, and unemployment insurance. The amount of payroll tax you pay depends on your income and filing status. The two main types of payroll … Read more
Tax-Free Savings Accounts (TFSAs) are special accounts that allow Canadians to save money for the future without paying taxes on any investment growth. Contributions to a TFSA are not tax-deductible, but all withdrawals are tax-free. This means that you won’t have to pay any taxes on the money you withdraw from your TFSA, regardless of … Read more
The British Parliament levied taxes on the American Colonies to raise funds for various expenses, including defending the colonies from French and Native American threats. The Sugar Act (1764), the Stamp Act (1765), and the Townshend Acts (1767) were all imposed to generate revenue from the colonies. The colonists, however, strongly opposed these taxes as … Read more
An NHL taxi squad is a group of extra players who are signed to a team but are not on the active roster. The taxi squad was created in 2020 as a way to help teams deal with the challenges of the COVID-19 pandemic. Taxi squads allow teams to have more flexibility in managing their … Read more
The precise number of ataxias is uncertain due to ongoing research and evolving classification systems. Some sources estimate over 100 types of ataxias, while others suggest even higher numbers. Ataxias can be classified based on their genetic cause, clinical presentation, or other factors. For instance, the National Ataxia Foundation recognizes over 50 specific genetic ataxias, … Read more
Determining whether or not you owe taxes on your stipend depends on several factors, including the type of stipend you receive and your status as a student or employee. Generally, if you receive a stipend as part of a scholarship or fellowship, it is considered nontaxable income. However, if you receive a stipend as compensation … Read more
With the advent of the Goods and Services Tax (GST) in 2017, several indirect taxes levied by the central and state governments were subsumed into a single comprehensive tax regime. These subsumed taxes include central taxes like central excise duty, service tax, additional customs duty, and special additional duty of customs. State-level taxes such as … Read more
In Australia, donations made to GoFundMe campaigns are not generally tax deductible for the donor. This is because GoFundMe is not a registered charity with the Australian Taxation Office (ATO). However, there are some exceptions to this rule. For example, if the GoFundMe campaign is raising funds for a registered charity, then donations to that … Read more
Lottery winnings are considered taxable income in the United States. This means that you must report any winnings from scratch tickets on your tax return. The amount of taxes you owe will depend on the amount of your winnings and your other income. If you win a large amount of money, you may be required … Read more
PPL typically refers to postpaid liability, which is the amount owed on your account after taxes and fees have been deducted. To calculate your PPL, start with your gross income, then subtract any applicable taxes and fees, such as federal and state income taxes, Social Security, Medicare, and unemployment insurance. The result is your net … Read more