Microsoft KB Archive/171708
Money: How the Tax Estimator Calculates Tax Rates
PSS ID Number: Q171708 Article last modified on 08-19-1998
The information in this article applies to:
- Microsoft Money 99
- == Microsoft Money 98 ==
The Tax Estimator calculates using the following default tax rates:
|from $0 to $24,649||is taxed at 15%.|
|from $24,650 to $59,749||is taxed at 28%.|
|from $59,750 to $124,649||is taxed at 31%.|
|from $124,650 to $271,049||is taxed at 36%.|
|from $271,500 and up||is taxed at 39.6%.|
|from $0 to $23,349||is taxed at 15%.|
|from $23,350 to $56,549||is taxed at 28%.|
|from $56,550 to $117,949||is taxed at 31%.|
|from $117,950 to $256,499||is taxed at 36%.|
|from $256,500 and up||is taxed at 39.6%.|
Every time you connect to the Internet from Money, the tax rates, deductions, and exemption amounts are updated for you. If you do not have a modem, you can manually change these figures on the Tax tab of the Options dialog box. If you don?t want Money to update the tax rates when you connect to the Internet, clear that option on the Online Services tab of the Options dialog box.
Update via the Internet
To update the information from the Internet, follow these steps:
- On the Tools menu, click Update Internet Information.
- If this is the first time you have updated, select your Internet Service Provider from the menu or click Use Proxy.
After all online information is updated, you receive a Call Summary stating that your call completed successfully.
To update the information manually, follow these steps:
- On the Tools menu, click Options.
- Click the Tax tab.
- In the “Show rates for filing status” list, click Custom. You may then adjust the income range and rates.
Additional query words: 6.0 7.0 w_money hat taxes 1040 IRS
Keywords : kbdta mnyweb kbonline Version : WINDOWS:98,99 Platform : WINDOWS Issue type : kbhowto ============================================================================= Copyright Microsoft Corporation 1998.