Overall, the top 1% of earners paid $864 billion in income tax, the highest share across wealth brackets. The average income tax paid across this group was nearly $562,000. That year, about 1.5 million people fell into this echelon, paying an average income tax rate of 26.1%. This graphic shows the average federal income tax by wealth bracket in America, based on data from the IRS via the Tax Foundation.
Your employer may offer resources that can help you with your financial strategy, on top of providing potentially tax-advantaged retirement and other accounts
Use your workplace benefits to get organized and stay ahead of the game →Many people struggle to set aside the money they need to build up their retirement nest eggs, month by month. Fortunately, a non-refundable tax credit, known as the retirement savings contributions credit, can make it substantially easier to save.
Saver’s Tax Credit: A Retirement Savings Incentive →This map graphic visualizes the total tax burden in each U.S. state as of March 2024, based on figures compiled by WalletHub.
Dreading your taxes? How to deal with the 'homework of life' from NPR Life Kit
Life is full of tedious and time-consuming administrative tasks. Here's how to conquer your 'life admin' so you can get back to real life →On July 5, 2023 some Canadians received a GST/HST credit for the grocery rebate.
You could receive a maximum payment of up to:
If you are single
If you are married or have a common-law partner
The First Home Savings Account launched April 1st!
Despite labour disruptions, the tax filing deadline has not changed. Canadians should take steps to ensure their return is filed by May 1, 2023, along with payment for any balance owing.
Filing dates for 2022 taxes →Tax season is upon us. Find key dates including filing and payment due dates and dates for receiving credits and benefit payments from the CRA.
Due dates and payment dates →Tax season is upon us and that means it’s a good time to revisit what needs to be done for your 2022 taxes.
It’s always best to go to the right source for important tax information →← Curating the web to find the most interesting and helpful information about your money.