Questions from Personal Finance

Q: How are same-sex couples treated for tax purposes?

How are same-sex couples treated for tax purposes?

Q: What is liquidity? What two factors are considered in managing liquidity

What is liquidity? What two factors are considered in managing liquidity? How are they used?

Q: What is an earned income credit? Explain why this credit is

What is an earned income credit? Explain why this credit is sometimes called a negative income tax.

Q: How are FICA taxes for self-employed individuals handled?

How are FICA taxes for self-employed individuals handled?

Q: What is a standard deduction? What is the standard deduction based 

What is a standard deduction? What is the standard deduction based on?

Q: What two methods can be used to calculate future values?

What two methods can be used to calculate future values?

Q: How is taxable income calculated?

How is taxable income calculated?

Q: What is a marginal tax bracket? Why is it important?

What is a marginal tax bracket? Why is it important?

Q: Julia brings home $1,600 per month after taxes.

Julia brings home $1,600 per month after taxes. Julia’s rent is $350 per month, her utilities are $100 per month, and her car payment is $250 per month. Julia is currently paying $200 per month to her...

Q: What is the difference between a tax deduction and a tax credit

What is the difference between a tax deduction and a tax credit? Which is more valuable?