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Tax

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IntroLend

A summer job is a great way for students to earn some extra money while building a resume for the future and learning new things about the working world. Typically, one of the hardest lessons for students to deal with is income tax. Working students may say, "Why is so much of my paycheck withheld? And who is this FICA dude?"

Welcome, students, to income taxes and how they affect the working world that you have joined. There are two main taxes on your earnings:

  • Federal Income Taxes – These provide income for operations and services of the federal government.
  • Payroll Taxes – These are taxes that fund Social Security and Medicare under the Federal Insurance Contribution Act (the "FICA dude" referenced above). The taxes you pay in go toward covering the eventual services you require. You pay half of this tax obligation (the withheld amount) and your employer kicks in the other...

Get Ready For Tax Season!

IRS Tips For Charitable Deductions

It's STILL Not Too Late To Lower Your Tax Bill

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The Nebraska Department of Revenue announced Monday that the state motor fuels tax will drop to 27.7 cents per gallon on July 1, down from 28.7 cents per gallon currently.

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You may soon receive a letter from the Internal Revenue Service (IRS), but unlike other notices from the agency, you might be thankful to receive this one. That’s because the IRS announced it has started sending letters to more than 36 million families who qualify for the new monthly child tax credit payments. In March, […]

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