FAQ's
If I file an extension does that mean I have more time to pay any tax due?
No, an extension is an extension on time to file your return, not an extension to pay any tax due. Any additional tax due is due by the original due date of your return.
What are the 2024 mileage rates?
- 67 cents per mile for business purposes
- 21 cents per mile for medical or moving purposes
- 14 cents per mile for charitable purposes
What is the difference between marginal and effective tax rates?
Marginal tax is the rate you pay on the next dollar of income. In other words, it’s your highest tax rate based on where your income lands in the tax brackets. Effective tax rate is the calculation of your blended tax rate based on your income through each of the brackets.