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General Tax Information

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  • What Is FICA on a Paystub?

    Paystubs can be difficult to understand. Between the Federal and State income taxes, the Medicare tax and the FICA tax (or Social Security tax), you wonder where all your hard-earned money is...

  • What Is Fringe Benefit Tax?

    Fringe benefits are a form of non-monetary compensation that you receive from an employer. Fringe benefits can include health and life insurance, tuition reimbursement and employee discounts.

  • Taxes on Benefits

    Benefits from such things as health insurance and Social Security are taxable and need to be reported on annual tax returns. To pay the correct amount, you must know which tax benefits are taxable...

  • Why Is a Social Security Check Taxed?

    Those who have recently qualified to begin receiving Social Security benefits may not be aware that the payments may be taxed. Learning the rules is necessary in order to prepare for a possible...

  • Is Long-Term Disability Income Taxed?

    The criteria of long-term disability are up to the discretion of the insurance company that provides the benefits. Benefits may be payable only when the recipient is unable to perform his...

  • What Is the Purpose of Social Security Taxes?

    The Social Security system was created by Social Security Act that was passed on August 14, 1935. In 1940, the first benefits were paid out and a special tax was created to pay the benefits. The...

  • Green Tax Benefits

    Green tax benefits are available for individuals, homeowners and business owners. Through a series of legislative acts---the Energy Policy Act of 2005, the Emergency Economic Stabilization Act of...

  • Are Social Security Disability Wages Taxable?

    Many Americans are struck with a disability ever year, leaving them unable to work a normal job. The federal government provides those people with benefits in order to survive financially through...

  • What Is 'Pre Tax Ben' on a W2 Form?

    Deciphering an IRS form seems like an important skill to teach in a high school economics course. Alas, not many people can translate things like "pre tax ben" or FICA or any of the other acronyms...

  • Definition of Disabled Social Security

    Social Security Disability Insurance (SSDI) provides benefits to an individual who is blinded or disabled, or the spouse or children of that individual, if deceased. To receive SSDI benefits, an...

  • What Are the Taxes on SSI Benefits?

    SSI, the supplementary income provided by the U.S. Social Security Administration (SSA), is intended to assist needy individuals. According to the SSA, less than one-third of Americans who receive...

  • How to Determine if Social Security Benefits Are Taxable

    Social Security benefits are not taxable if your income is below a certain level.

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