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Estimate Your 2017 Tax Refund with the 2016 Return Calculator, return of tax.#Return #of #tax

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Estimate Your Tax Refund – 2018 Tax Calculator for 2017 Tax Return

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Don t let your tax return take you by surprise! Estimate your taxes before you prepare your 2017 Tax Return. Find out if you will owe taxes or how much of a tax refund you will get in 2018. Estimating your taxes before you file your tax return is an essential part of tax planning, so start estimating now with the 2017 Tax Refund and Tax Return Calculator above.

How to Estimate Taxes with the 2018 Tax Calculator

To begin estimating your taxes with the tax calculator, select your filing status. Then click the blue “Next” button and choose your exemptions for yourself, your spouse, and your dependents. After you enter income information you can enter your tax deductions and tax credits. When you are finished in each section, go on to the next one.

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The 2018 Tax Calculator will estimate your 2017 Tax Return and any tax refund you will receive in 2018. This calculator will be updated frequently as the IRS releases the latest figures for Tax Year 2017. Efile.com offers the use of this tax calculator free of charge. Please contact us if you have any comments or questions about the 2018 Tax Calculator.

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Income statement – What is an income statement, Debitoor, example of income statement.#Example #of #income

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Income statement – What is an income statement?

An income statement shows a company’s revenues less their costs and expenses over a given period (e.g. a financial year or one month)

Keep track of incoming and outgoing cash flow in your business by generating reports with just a click with Debitoor accounting invoicing software. Try it free.

An income statement (also commonly known as a profit loss statement, or P L) is an integral component of a company’s financial statements, along with other reports such as the balance sheet.

It shows how a company’s revenue is converted into net income: first by displaying the revenues recognized for a specific period, and then by subtracting the costs and expenses from these revenues (including write-offs and taxes).

The results of an income statement show a company’s net income (or net loss). What this means for the business is an indication of how profitable it has been over the given period.

The income statement is also used in order to show internal and external company stakeholders whether the company made or lost money during the reporting period.

Income statement format

A typical income statement shows a company s revenues, followed by their cost of goods sold, their expenses, and any other sources of income (other than daily sales, e.g. the revenue from a one time sale of a factory). It concludes with the company s net income for the period.

Positive values (revenues) are expressed as whole numbers with no additional text, while negative values (losses) are indicated by being wrapped in parentheses, e.g. (1,000).

It s important to note that an income statement expresses the financials over the course of a specified period of time (as opposed to the balance sheet, which shows just a single moment in time).

This is why every income statement will include a statement near the top that is similar to: For the period of: dd/mm/yyyy – dd/mm/yyyy across the top.

Income statement as a success indicator

The goal of the income statement is to describe how successful the operations of the business are. The main objective is to make a profit, and the statement displays the extent to which this objective has been successful.

Income statement and Debitoor

In the larger Debitoor plans, you have access to several reports including your VAT report, balance sheet and the profit loss (income statement). Because Debitoor accounting invoicing software has been designed to be intuitive and easy to use, these reports can be generated and customised with just a click!


Income Statement Analysis Practice With Microsoft, example of income statement.#Example #of #income #statement

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Practice Income Statement Analysis With a Real Statement

Example of income statement

Example of income statement

The best way to learn how to read and analyze and income statement is to pick up an ​annual report or Form 10-K of a real company and practice reading the financial statements. It s good to simply get your hands on a couple, see how they are similar or different, examine some of the unique lines you might see on one company s income statement but not that of another firm. You will notice how certain businesses, in certain sectors or industries, have completely different economic characteristics, resulting in completely different profitability pictures that tend to result in some sectors and industries producing much better outcomes over decades for shareholders.

You will begin to be able to see the business through these income statements, especially in conjunction with the other financial statements and the footnotes. You start to understand the things driving profitability and how rigid the cost structure is.

To match up with what I did in my lesson on balance sheet analysis, in this income statement analysis lesson I m retaining the original sample income statement I first published more than fifteen years ago. It comes from Microsoft s 2001 annual report and it shows the full fiscal year income statement figures for 2001, 2000, and 1999. Although the world has changed significantly since then, the big concepts and principles you are about to learn haven t been modified much. I hope, also, that seeing the timelessness of fundamental analysis will make you realize the power of a good long-term investment. Truly great businesses have a certain stability in their core economic engine that makes them enjoy certain advantages.

A firm like Microsoft, one of the best businesses of all time, is inherently less secure than a firm like Hershey as the activities that produce the numbers in Microsoft s income statement are changing all the time, subject to technological advancement and competition that attack on all fronts. As Microsoft founder Bill Gates once said, the firm s next biggest competitor could be a kid in a garage.


Income Tax e-filing in five easy steps, The Indian Express, e filing of income tax

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Income Tax e-filing in five easy steps

E filing of income tax return

It has almost become a ritual for people to delay filing their income tax returns till the last date and for the government to extend the same due to popular demand . However, the long queues that used to be another annual feature of the tax filing week has become a thing of the past due to the growing popularity of income tax e-filing.

The incometaxindiaefiling.gov.in has made it really easy for people to file their returns from the comfort of their homes. But remember to do so by August 5, the extended deadline for filing your income tax returns. Assessees in Jammu and Kashmir have till August 31 to file.

With the whole of this week left for people to finish this process, we tell you how to file your tax online.

Step 1: Select the right form: You have to select the form based on your source of incomes. So ITR-1 is for salaried individuals whose get a salary or a pension along with income from a house/property or from other sources, things like lottery. This is not for those with multiple houses/properties, income from winning a lottery, agricultural income of above Rs 5000, income from business. Tax payers filing for double tax relief should also not use this.

ITR-2A, introduced this year, is for those individuals who have income from more than one house property. ITR-2 can be used by individuals with no income from business/profession. ITR-3 is for individuals partnering in a firm, but not for those earning income from a proprietorship form. ITR-4 is for those individual earning income from a proprietorship firm. ITR-5 and 6 are for use by companies alone.

Step 2: Get your Form 16 ready: This form given by your employer shows your saving as well as the tax deducted. There will be multiple forms if you have changed jobs over the assessment year/

Step 3: Additional documents: You might need your bank statements, interest certificates, and your housing loan certificate (in case of housing loan).

Step 4: Download Form 26AS from the e-filing website to see which taxes are deducted at source

Step 5: Filing/uploading: Individuals with over Rs 5,00,000 income have to e-file their tax returns. You will get an automatic acknowledgement once the return is successfully uploaded. Verify this and submit the acknowledgement online, ideally with e-verification. This completes the process of filing your income-tax return.


Income Tax Return Filing by IndiaFilings, filing of income tax return.#Filing #of #income #tax #return

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Income Tax Filing

Its is mandatory for individuals, NRIs, partnership firms, LLPs, Companies, Trust to file income tax returns each year. Individuals and NRIs are required to file income tax return, if their income exceeds the exemption limit. Partnership firms are required income tax return – irrespective of amount of income or loss. All companies are mandatorily required to file income tax return. Finally, it is mandatory for most types of trust to file income tax every year, while some types of trusts are required to file return of income if its gross total income exceeds the exemption limit.

Income tax return form can be e-filed or manually filed. Income tax returns do not have the ability to accept any attachment while efiling or manually filing. Hence, all relevant documents pertaining to the income tax filing like proof of investment, TDS certificates, pay slip, rent receipt, etc.) must be retained by the taxpayer and should be readily available if requested by tax authorities during assessment, inquiry, etc.

IndiaFilings is the largest business services platform in India, offering a variety of services like company registration, trademark registration, GST registration, income tax filing and more. IndiaFilings can help you file income tax returns. Get a free consultation for income tax filing through IndiaFilings by scheduling an appointment with an IndiaFilings Advisor.

Top Income Tax Return Types

ITR 1 (SAHAJ)

Income Tax Form ITR-1 (SAHAJ) is for individuals having income from salaries, one house property and other sources like interest, etc., This is the most used income tax return type.

ITR 4

Income Tax Form ITR 4 is for individuals and Hindu Undivided Families having income from a proprietary business or profession. This form is used by proprietorship firms.

ITR 5

Income Tax Form ITR 5 is used by most partnership firms as it is intended for persons other than individuals, Hindu Undivided Families, companies and person filing Form ITR-7.

ITR 6

Income Tax Form ITR 6 ​is used by companies like one person company, private limited company, public limited company and other for-profit companies.

ITR 7

Income Tax Form ITR 7 is used by persons, political parties, news agencies, universities and entities in receipt of income from property held under trust for charitable or religious purposes.


Income Statement Analysis Practice With Microsoft, example of an income statement.#Example #of #an #income #statement

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Practice Income Statement Analysis With a Real Statement

Example of an income statement

The best way to learn how to read and analyze and income statement is to pick up an ​annual report or Form 10-K of a real company and practice reading the financial statements. It s good to simply get your hands on a couple, see how they are similar or different, examine some of the unique lines you might see on one company s income statement but not that of another firm. You will notice how certain businesses, in certain sectors or industries, have completely different economic characteristics, resulting in completely different profitability pictures that tend to result in some sectors and industries producing much better outcomes over decades for shareholders.

You will begin to be able to see the business through these income statements, especially in conjunction with the other financial statements and the footnotes. You start to understand the things driving profitability and how rigid the cost structure is.

To match up with what I did in my lesson on balance sheet analysis, in this income statement analysis lesson I m retaining the original sample income statement I first published more than fifteen years ago. It comes from Microsoft s 2001 annual report and it shows the full fiscal year income statement figures for 2001, 2000, and 1999. Although the world has changed significantly since then, the big concepts and principles you are about to learn haven t been modified much. I hope, also, that seeing the timelessness of fundamental analysis will make you realize the power of a good long-term investment. Truly great businesses have a certain stability in their core economic engine that makes them enjoy certain advantages.

A firm like Microsoft, one of the best businesses of all time, is inherently less secure than a firm like Hershey as the activities that produce the numbers in Microsoft s income statement are changing all the time, subject to technological advancement and competition that attack on all fronts. As Microsoft founder Bill Gates once said, the firm s next biggest competitor could be a kid in a garage.


Income Statement Definition – Example, InvestingAnswers, example of an income statement.#Example #of #an #income #statement

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Income Statement

The income statement is one of the three primary financial statements used to assess a company’s performance and financial position (the two others being the balance sheet and the cash flow statement ). The income statement summarizes the revenues and expenses generated by the company over the entire reporting period.

The basic equation on which an income statement is based is:

Revenues – Expenses = Net Income

All companies need to generate revenue to stay in business. Revenues are used to pay expenses, interest payments on debt and taxes owed to the government. After the costs of doing business are paid, the amount left over is called net income . Net income is theoretically available to shareholders, though instead of paying out dividends, the firm’s management often chooses to retain earnings for future investment in the business.

Income statements are all organized the same way, regardless of industry. The basic outline is shown in the following example:

Income Statement for Company XYZ, Inc.

for the year ended December 31, 2008

Total Operating Expenses ($ 30,000)

Operating Profit (EBIT ) $ 50,000

Earnings before tax ( EBT ) $ 40,000

Why it Matters:

Anyone interested in active investing , picking stocks or investigating the financial health of a company must know how to read financial statements , including the income statement. The importance of the information contained in the income statement cannot be overemphasized.

A firm’s ability or inability to generate earnings over the long term is the key driver of stock and bond prices. Operating profit ( EBIT ) is the source of debt repayment , and if a company can’t generate enough EBIT to pay its debt obligations, it will have to enter bankruptcy or sell itself. Net income is the source of compensation to shareholders (owners of the company), and if a company cannot generate enough profit to compensate owners for the risks they’ve taken, the value of the owners’ shares will plummet. Conversely, if a company is healthy and growing, higher stock and bond prices will reflect the increased availability of profits .

Please note that earnings/net income/ profits are not the same as cash or cash flow . It is possible for a firm to be profitable on the income statement, but not be generating cash flow , and vice versa. To see a company’s cash flow , you will need to examine its statement of cash flows.


What is term life insurance? Ultimate Guide to Retirement, definition of term life insurance.#Definition #of

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What is term life insurance?

Term insurance is basic, inexpensive and easy to understand. It gives you all the coverage you need and none that you don’t. That’s why it’s the best choice for almost everyone.

As the name implies, a term insurance policy is good for a specific period of time; that can be one year, 10 years, 20 years or even up to 30 years. Given that you generally need life insurance only until you’ve managed to save up money elsewhere, just pick the term that dovetails with the time you need coverage. If you die during that term, your beneficiaries get a payout, known as the death benefit. If you die after the term expires, there’s no payout.

Term policies typically have maximum issue ages. If you’re past age 80, you’ll have a hard time getting term insurance. (You almost certainly won’t need it at that age anyway.)

Definition of term life insurance

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Definition of term life insurance Definition of term life insurance


Revenue and Sales on the Income Statement, example of an income statement.#Example #of #an #income

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Total Revenue or Sales

Example of an income statement

The first line on any income statement or profit and loss statement is an entry called total revenue or total sales. This figure is the amount of money a business brought in during the time period covered by the income statement. It has nothing to do with profit. If you owned a pizza parlor and sold 10 pizzas for $10 each, you would record $100 of revenue regardless of your profit or loss. If you owned a furniture store and sold a bedroom set for $25,000, you would record $25,000 regardless of your profit or loss.

If you owned a hamburger joint and sold 100 cheeseburgers for $3.99 each, you d record $399 in revenue regardless of your profit or loss.

The total revenue figure is important because a business must bring in money to turn a profit. If a company has less revenue, all else being equal, it s going to make less money. For start-up companies that have yet to turn a profit, revenue can sometimes serve as a gauge of potential profitability in the future.

Many companies break revenue or sales up into categories to clarify how much was generated by each division. Clearly defined and separate revenue sources can make analyzing an income statement much easier. It allows more accurate predictions of future growth. When I first wrote this investing lesson 14 or 15 years ago, I originally shared a copy of the Starbucks 2001 income statement with you, saying it was an excellent example. It is reproduced at the bottom of this page in Table STAR-1.

(If you really want to get a kick, go check out the total sales figures for Starbucks as of the most recent year ended 2015 in its annual report or Form 10-K filing. For those of you who don t mind me sharing the punchline, revenue grew to $15,197,300,000 over that span. In fact, a $100,000 investment at the time this lesson was originally published until today, in March of 2016, would have grown into more than $1,071,000 on a total return basis.

That doesn t even assume you reinvested your dividends. For Starbucks, exponentially growing sales also meant exponentially growing profits — something that isn t necessarily true at all firms — and the owners were richly rewarded for their patience, enjoying a CAGR about which most people could only dream.)

As you see in the original, archived 2001 chart at the bottom of this page, sales at Starbucks came primarily from two sources: retail and specialty. In the annual report, management explains the difference between the two several pages before the income statement. Retail revenues refer to sales made at company-owned Starbucks stores across the world. Every time you walk in and order your favorite coffee, you are adding $3 to $5 in revenue to the company s books. Specialty operations, on the other hand, consists of money the company brings in by sales to wholesale accounts and licensees, royalty and license fee income and sales through its direct-to-consumer business . In other words, the specialty division includes money the business receives from coffee sales made directly to customers through its website or catalog, along with licensing fees generated by companies such as Barnes and Noble, which pay for the right to operate Starbucks locations in their bookstores.

From the perspective of an owner, there is often a mistaken belief that growing sales are always a good thing. While this is generally true, there can be exceptions. In an industry such as property and casualty insurance, growth is almost always achieved by lowering policy costs, which can hit profits hard if management isn t careful, though it may not show up for several years as there is a delay between when the policy is priced and when the losses are incurred. Likewise, if growth is financed by diluting existing stockholders, taking on excessive amounts of debt, or engaging in riskier activities, it can result in a partial or total wipe-out down the line. History is full of companies that are cautionary tales, from former blue chip banks and thrifts such as Wachovia and Washington Mutual, insurance conglomerates such as AIG, and investment banks such as Lehman Brothers and Merrill Lynch.

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Growth in sales or revenue should not be the goal by itself. Growth in profitable sales and revenue, adjusted for risk, and in a way that rewards the existing owners, is the objective. As you learn more about the income statement, this will make more sense. The short version is that you should only want a business to generate more sales if it is going to benefit you in some capacity over the long-run. After all, it s your hard-earned money that is at risk in the enterprise.

Depending upon the business and its economics, the revenue or sales figure on the income statement may be reduced by what is known as a reserve for allowance of returns . What that means is a business that knows, traditionally, 1 percent of its sales end up being returned by customers might go ahead and include that 1 percent reduction in the revenue figure as that is what experience shows is likely to happen. When your financial analysis skills become more advanced, you will need to study these ​five methods of revenue recognition management can use to smooth the way they report sales.

Table STAR-1 (Archived Illustration from Original Investing LessonSee Text for Explanation)

For nostalgia s sake, let s use the archived sales/revenue figures from the original article I wrote almost two decades ago. You can easily replace these with figures from Starbuck s current 10-K filing or annual report. In fact, I d encourage you to try as it will allow you to practice finding and researching financial disclosures.

Consolidated Statement of Earnings – Excerpt


What is Term Insurance – Definition by HDFC Life, definition of term life insurance.#Definition #of

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Term Insurance – Definition Meaning 2016-11-07

Definition of term life insurance Definition of term life insurance

Definition of term life insurance

Definition of term life insurance Definition of term life insurance Definition of term life insurance

Definition of term life insuranceDefinition of term life insurance

Term insurance, a type of life insurance, provides coverage for a certain period of time or years. If the insured dies over the policy tenure a death benefit (or sum assured) is paid out. No payout is made if the insured survives the tenure.

The purpose of taking life insurance is to provide life cover to the policyholder and financial security to his family.

There are two ways the individual can take life insurance:

1. By opting for a pure life cover, also known as term insurance

2. By taking life cover with a savings component built-in,also called endowment insurance

Why term insurance is better

Term plans provide pure life cover. This means there is no savings / profits component. They are basic plans which make life insurance more affordable vis-à-vis other options. It is possible for the policyholder to opt for a larger life cover at a lower premium when compared to a similar endowment plan.

Some of the key features that make term plans indispensable include

Since term life insurance plans are more affordable it is possible for an individual to opt for a higher life cover for the same premium as an endowment plan. For e.g. a 30-year old can get a term plan with a cover of Rs 1 crore for a 30-year term by paying a premium .

The Rs 1 crore endowment plan will most likely out of bounds for most 30-year olds. However, taking a term plan for a similar cover is relatively more feasible.

The policyholder can attach riders to the term plan, thereby enhancing the utility of the policy. So by opting for a critical illness rider or a critical illness plan, for instance, he is entitled to receive the sum assured on being diagnosed with the critical illness. This is in addition to the death benefit of an equal amount on death over the term of the policy. There are other riders to choose from like – loss of employment cover,disability cover, waiver of premium cover, among others. The policyholder should select riders based on his specific needs to make the life cover more suitable and meaningful.

Certain insurance companies offer the flexibility to enhance the life cover during critical stages of the policyholder’s life. For instance, the policyholdermay be permitted to enhance life cover by 50% at the time of marriage and by 25% at the time of turning a parent. This makes it possible for him to start with a modest cover and then enhanceit as responsibilities increase as also the ability to pay higher premium.

While insurance companies have been quick to innovate in general, they have been most innovative with regards term plans. For instance, companies have been quick and proactive in cutting premium rates even offering extra discounts to certain categories like non-smokers, for instance. Buying term plansis now quite convenient thanks to the internet. It is possible for a healthy individual, as defined by the insurer, to buy a term plan over the internet without taking a medical test.