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  2. Earned income tax credit - Wikipedia

    en.wikipedia.org/wiki/Earned_income_tax_credit

    Tax Credit for case of one qualifying child. With one child and parent filing singly or as head of household, as of 2020: For income between $10,540 and $19,330, the tax credit is a constant "plateau" at $3,584. For income over $41,765, the tax credit is zero. This is represented by the lightest blue, solid line:

  3. Income tax in the United States - Wikipedia

    en.wikipedia.org/wiki/Income_tax_in_the_United...

    Effective federal tax rates and average incomes for 2010; Quintile Average income before taxes Effective individual income tax rate Effective payroll tax rate Combined effective income and payroll tax rate Total effective federal tax rate (includes corporate income and excise taxes) Lowest $24,100: −9.2%: 8.4%: −0.8%: 1.5% Second $44,200 ...

  4. Retirement - Wikipedia

    en.wikipedia.org/wiki/Retirement

    Retirement is the withdrawal from one's position or occupation or from one's active working life. A person may also semi-retire by reducing work hours or workload. Many people choose to retire when they are elderly or incapable of doing their job due to health reasons. People may also retire when they are eligible for private or public pension benefits, although some are forced to retire when ...

  5. Roth IRA - Wikipedia

    en.wikipedia.org/wiki/Roth_IRA

    A Roth IRA is an individual retirement account (IRA) under United States law that is generally not taxed upon distribution, provided certain conditions are met. The principal difference between Roth IRAs and most other tax-advantaged retirement plans is that rather than granting a tax reduction for contributions to the retirement plan, qualified withdrawals from the Roth IRA plan are tax-free ...

  6. Incorporation (business) - Wikipedia

    en.wikipedia.org/wiki/Incorporation_(business)

    Lee the court ruled that there could be a corporate tax, essentially saying the structure of business was a justifiably discriminatory criterion for governments to consider when writing tax legislation. This was a unique ruling handed down during a unique time in US history that denied a corporation freedom it sought in the courtroom.

  7. Affordable Care Act - Wikipedia

    en.wikipedia.org/wiki/Affordable_Care_Act

    ACA amended the Public Health Service Act of 1944 and inserted new provisions on affordable care into Title 42 of the United States Code. The individual insurance market was radically overhauled, and many of the law's regulations applied specifically to this market, while the structure of Medicare, Medicaid, and the employer market were largely retained.

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