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2013 Income Tax Rates

Here’s the individual income tax rates for 2013

If you still need to file your 2013 taxes, you may need a reminder of the 2013 income tax rates. These rates will play a major role in how much your 2013 tax refund or tax due total will be.

2013 Income Tax Rate Table

The 2013 tax rates for the bottom six brackets remain unchanged from 2012. The biggest change is the addition of a new rate of 39.6% for individuals with incomes above $400,000 and married couples filing jointly with incomes above $450,000. Continue reading “2013 Income Tax Rates”

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iPad Tax Deduction

How to deduct your tablet computer on your taxes

All you Apple addicts out there will be happy to know that you can deduct the cost of your iPad. In order to take the deduction, however, you must actually use your iPad for business. If all you do is play Angry Birds on the subway or entertain your petulant children in the backseat you won’t get any tax benefit.

Business Expense

If you operated a business or practiced a profession as a sole proprietor than you can very likely claim the cost of an iPad as a business expense.

As far as the IRS is concerned, the same rules that govern computers also govern iPads. In order to deduct your iPad (or anything else for that matter) it must be usual, necessary, customary, and reasonable for the type of business that you are engaged in.

In order to take a deduction you must have acquired your iPad specifically for use in your trade or business. You can use your iPad for personal purposes too, but at least 50% of your use must be for business. Continue reading “iPad Tax Deduction”

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Where Is My NY State Tax Refund?

Find out when you should receive your 2012 New York state tax refund

Are you still waiting on a tax refund from New York state? You can check the status of your state refund online by using the Income Tax Refund Status tool on the New York State Department of Taxation and Finance website. If you prefer to use the phone you can also check the status of your refund by calling 518-457-5149.

These days you can expect your federal refund from the IRS in under twenty-one days. In some cases they are even fast enough to get your money out in a week. State operations are not quite so sophisticated.

New York says to expect your refund six to eight weeks after they receive your return. As with federal taxes, the fastest way to get your refund is by e-filing your return and then requesting your refund by direct deposit. Mailing your return in to the tax office and requesting a paper check will both slow down the refund process.

If you really want to know when you’ll get your refund the moment that information become available, you can sign up to receive an email from New York State as soon as they process your return. The message will include the amount of your refund, the expected payment date, and the payment method. In order to receive this email, you have to sign up through the online services. Continue reading “Where Is My NY State Tax Refund?”