by Ekrem Duman | Jun 20, 2026 | Country Tax Guides, US Tax
Accounting › Country Tax Guides › US Tax ⚡ TL;DR401(k)s and traditional IRAs let you save for retirement with pre-tax dollars, reducing taxable income now and growing tax-deferred until withdrawal. For 2025, the 401(k) employee contribution limit is...
by Ekrem Duman | Jun 20, 2026 | Country Tax Guides, US Tax
Accounting › Country Tax Guides › US Tax ⚡ TL;DRInvestment income is taxed in different ways. Qualified dividends enjoy the low long-term capital gains rates (0%, 15%, 20%), while ordinary (non-qualified) dividends and most interest are taxed as ordinary...
by Ekrem Duman | Jun 20, 2026 | Country Tax Guides, US Tax
Accounting › Country Tax Guides › US Tax ⚡ TL;DRCapital gains tax applies when you sell an investment for a profit. Long-term gains (assets held over a year) are taxed at preferential 0%, 15% or 20% rates for 2025, while short-term gains are taxed as...
by Ekrem Duman | Jun 20, 2026 | Country Tax Guides, US Tax
Accounting › Country Tax Guides › US Tax ⚡ TL;DREmployers must withhold income tax and the employee’s FICA from wages, pay a matching 7.65% FICA, deposit these with the IRS on a set schedule, and pay federal and state unemployment taxes...
by Ekrem Duman | Jun 20, 2026 | Country Tax Guides, US Tax
Accounting › Country Tax Guides › US Tax ⚡ TL;DRThe US tax system is pay-as-you-go. Employees have tax withheld from each paycheck based on their W-4; the self-employed and those with other income make quarterly estimated tax payments. Pay too little...
by Ekrem Duman | Jun 20, 2026 | Country Tax Guides, US Tax
Accounting › Country Tax Guides › US Tax ⚡ TL;DRA W-2 reports wages for employees, with the employer withholding income tax and FICA. A 1099 reports payments to independent contractors, who get no withholding and owe self-employment tax themselves. The...
