Future income taxes are upcoming tax costs or savings due to discrepancies between financial statements and tax returns.

The provision for income taxes on an income statement is the amount of income taxes a company estimates it will pay in a given year. The company's final tax bill may be slightly more or less than the ...

Annual gross income Think of this as your salary, or the sum of your wages and tips, plus any income from interest, dividends, alimony, retirement distributions, unemployment compensation and Social ...

Filing taxes can be daunting, even overwhelming. Whether you file with help from a professional or on your own, calculating precisely what you owe to the Internal Revenue Service, or what the IRS owes ...

Effective tax rate is your average tax rate as a percentage of total income. Marginal tax rate is the tax on your highest dollar earned, not your total income. Historically, top marginal rates have ...

Income tax is charged on most types of income but tax allowances protect some from the taxman. If you earn money from a job, you will have to pay tax once you breach the tax-free allowance. If you get ...