Best mini fridge (refrigerator) in India

<img src="https://static-ssl.businessinsider.com/image/5e3b073de35bab17ac1a5b45-1832/gettyimages-845922336.jpg" alt="what is tax liability" /><p class="source"><span>shapecharge/Getty</span></p><p class="caption">Certain deductions and credits can help reduce your tax liability.</p><ul class="summary-list"><li>Tax liability is the amount of taxes you owe to the IRS or your state government.</li><li>Your income tax liability is determined by your earnings and <a href="https://www.businessinsider.com/what-is-my-filing-status-for-taxes">filing status</a>. </li><li>Certain <a href="https://www.businessinsider.com/tax-deductions-tax-credits-save-money-taxes">deductions and credits</a> can help reduce your tax liability. </li><li>If there's a difference between your tax liability and what you paid through employer withholdings or estimated payments during the year, it's due by April 15.</li><li>This post has been been reviewed for accuracy by Thomas C. Corley, CPA.</li><li><strong><a href="https://www.businessinsider.com/what-is-best-tax-software">See Business Insider's picks for the best tax software »</a></strong></li></ul><p>Most Americans who earn an income are responsible for giving a cut to the government.</p><p>How much you owe to the IRS depends on your filing status and earnings and is known as your tax liability. </p><h2>What is tax liability?</h2><p>America has a <a href="https://www.businessinsider.com/us-progressive-taxes-alexandria-ocasio-cortez-tax-plan-2019-1">progressive tax system</a> with seven income tax rates ranging from 10% to 37%.</p><p>Each filing status has its own <a href="https://www.businessinsider.com/what-tax-bracket-am-i-in-federal-income-tax">tax brackets</a> (although married filing jointly and qualifying widow(er) use the same tax table); these represent the rates at which the individual or couple's income is taxed as they reach certain thresholds. The tax calculated is your tax liability, but not necessarily the tax due.</p><p>Below are the tax brackets for single filers and married filers that applied to income earned in 2019. They're adjusted each year for inflation.</p><img src="https://static-ssl.businessinsider.com/image/5c33833ebd7730076d294700-2400/2019%20tax%20brackets%20table%201.png" alt="2019 tax brackets table (1)" /><p class="source"><span>Shayanne Gal/Business Insider</span></p><p>If you add up every dollar you earned in 2019 - or simply took your annual salary figure - and applied it to the tax brackets above, you will likely get a higher number than what you're actually responsible for paying. That's because certain deductions will lower the amount of your income that's taxed to begin with.</p><p>For example, if you contributed to a <a href="https://www.businessinsider.com/what-is-a-health-savings-account-hsa-save-money">health savings account</a> or an employer-sponsored <a href="https://www.businessinsider.com/how-to-invest-in-a-401k-for-retirement">retirement plan</a> that allows pre-tax deferrals, those amounts won't be included in your gross income.</p><p>Further, if you paid interest on student loans or are self-employed and paid health insurance premiums throughout the year, for example, you can subtract those amounts from your gross income. These are referred to as adjustments to income, or above-the-line deductions. This results in your adjusted gross income (AGI).</p><p>From there, you can subtract either the standard deduction - $12,200 for single filers and $24,400 for married joint filers in 2019 - or itemized deductions (like mortgage interest or state and local taxes), whichever is higher. This brings you to your total taxable income. That's the figure the IRS applies to the tax brackets above to determine your true tax liability.</p><h2>Is tax liability the same as tax due?</h2><p>When you start a new job, you're required to fill out <a href="https://www.businessinsider.com/how-do-i-fill-out-new-w-4-tax-withholding-form">Form W-4</a>. This tells your employer how much to withhold from your paychecks for income taxes based on your filing status, family situation, and any additional jobs you have.</p><p>Your employer sends the amount withheld for income taxes from each paycheck to the IRS on your behalf. At the beginning of the next calendar year, you'll receive a W-2 - or 1099 if you're an independent contractor - from each employer you had, detailing how much you earned and how much was withheld for taxes. Self-employed taxpayers generally pay their <a href="https://www.businessinsider.com/how-to-pay-quarterly-taxes-business-owner">taxes quarterly</a> rather than through withholdings.</p><p>In preparing your <a href="https://www.businessinsider.com/how-to-file-taxes-tax-return-instructions">tax return</a>, you'll compare the taxes you already paid for that tax year to your total tax liability. If it turns out you overpaid, you'll likely get a <a href="https://www.businessinsider.com/wheres-my-tax-refund-federal-tax-refund">refund</a>. If the opposite is true - your tax liability is more than the amount withheld - you'll probably have a tax bill.</p><p>If there are changes to your financial situation during the year, you're responsible for updating and resubmitting your W-4 to your employer to make sure the correct amount of money is withheld to cover your tax liability.</p><p>If you qualify for <a href="https://www.businessinsider.com/what-is-a-tax-credit-definition-explainer">tax credits</a>, you can apply them to your tax bill to lower the amount due on a dollar-for-dollar basis. Some credits are even refundable, meaning that if their total value wipes out your tax bill completely, you can get the remaining money back as a refund.</p><h2>How do you estimate tax liability?</h2><p>You can estimate your tax liability for the year by adding up all your income and subtracting any applicable deductions, and then applying that figure to the tax brackets for your filing status. If the math feels confusing, try an online calculator. </p><ul class="read-more-links"><li>More <a href="https://www.businessinsider.com/category/tax-day-2020">tax day</a> coverage:</li><li><a href="https://www.businessinsider.com/when-are-taxes-due-tax-filing-deadline-2019-1">When are taxes due?</a></li><li><a href="https://www.businessinsider.com/how-to-file-taxes-tax-return-instructions">How to file taxes for 2019</a></li><li><a href="https://www.businessinsider.com/what-is-a-tax-credit-definition-explainer">What is a tax credit?</a></li><li><a href="https://www.businessinsider.com/hr-block-vs-turbo-tax-2018-1">H&amp;R Block vs. TurboTax</a></li></ul><p style="font-size:14px;"><em>Disclosure: This post is brought to you by the Personal Finance Insider team. We occasionally highlight financial products and services that can help you make smarter decisions with your money. We do not give investment advice or encourage you to adopt a certain investment strategy. What you decide to do with your money is up to you. If you take action based on one of our recommendations, we get a small share of the revenue from our commerce partners. This does not influence whether we feature a financial product or service. We operate independently from our advertising sales team.<em></em></em></p><iframe src="https://smartasset.com/captivate/frame/ucznodjd" width="100%" height="650px" scrolling="auto" style="border: none;"></iframe>            <h3>NOW WATCH: <a href="https://www.businessinsider.com/how-to-make-submit-your-own-emoji-start-finish-2019-8">62 new emoji and emoji variations were just finalized, including a bubble tea emoji and a transgender flag. Here's how everyday people submit their own emoji.</a></h3>                    <iframe class="bijwplayerclass" src="https://content.jwplatform.com/players/rgp1Hveg-CEZHWCBG.html" width="100%" height="100%" frameborder="0" scrolling="auto" style="margin:0px;"></iframe>            

What is tax liability? It's how much you owe in taxes depending on your filing status and income

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5abce2495c0d6327008b4b29-2000/roger federer and serena williams.jpg" border="0" alt="Roger Federer and Serena Williams" data-mce-source="Reuters" /><p class="source"><span>Reuters</span></p><p class="caption">Roger Federer and Serena Williams.</p></div><p></p></div></div></p><ul><li><strong>Tennis champions Roger Federer and Serena Williams are widely considered to be the greatest tennis players of all time.</strong></li><li><strong>But who would win in a match between the best men's player and the best women's player?</strong></li><li><strong>A Quora user asked this very question and it triggered a number of considered responses.</strong></li><li><strong>Here are the most popular answers.</strong></li></ul><hr /><p> </p><p>Court king Roger Federer and tennis queen Serena Williams have been hailed as the greatest singles players of all time, according to <a href="http://www.tennis.com/pro-game/2018/03/50-greatest-players-open-era-m-no-1-roger-federer/72475/" target="_blank" rel="noopener">Tennis Channel</a> and <a href="https://www.cbssports.com/tennis/photos/15-greatest-womens-tennis-stars-of-all-time/" target="_blank" rel="noopener">CBS Sports</a>.</p><p>Considering their respective achievements, it is easy to see why.</p><p>Federer has spent a total of 308 weeks at the top of the world men's ranking, has the most men's Grand Slam singles titles (20) ever, and has a TV-friendly style that is aggressive and athletic.</p><p>Williams is just as impressive. She has 23 Grand Slam titles, has an extraordinarily high career win ratio on all surfaces (85.61%), and is famed for the pace of her serve and her authoritative playing style.</p><p><strong>But what would happen if Federer played Williams?</strong></p><p>That is a question that was <a href="https://www.quora.com/In-a-match-between-Roger-Federer-and-Serena-Williams-who-has-a-higher-chance-of-winning" target="_blank" rel="noopener">recently served up by a user on Quora,</a> and it prompted a strong reponse by a number of users.</p><h2>This is a "battle of the sexes" - and the winner is clear</h2><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5ac39d267a74af2c008b460f-2000/roger federer.jpg" border="0" alt="Roger Federer" data-mce-source="Getty Images" /><p class="source"><span>Getty Images</span></p><p class="caption">Roger Federer.</p></div><p></p></div></div></p><p>Quora user Aleksa Milovanovic had one of the most upvoted responses by claiming the questions comes down to "what's known as a Battle of the Sexes" in tennis.</p><p>Milovanovic referenced three male vs. female tennis matches of previous years, including 55-year-old Bobby Riggs' 6-2, 6-1 victory over former women's number one player Margaret Court in 1973.</p><p>Almost 20 years later, 40-year-old Jimmy Connors played 35-year-old Martina Navratilova on a pay-per-view show at Caesars Palace in Las Vegas in 1992. Connors was only allowed one serve, while Navratilova was permitted to hit into the doubles alleys. Despite the handicap, Connors still won 7-5, 6-2.</p><p>Completing Milovanovic's historical perspective were two single set matches between Karsten Braasch and the Williams sisters. Braasch, ranked the 203rd best male player in the world at the time, beat Serena Williams 6-1 and Venus Williams 6-2, despite a training regime that "centered around a pack of cigarettes and more than a couple bottles of ice cold lager," <a href="https://www.theguardian.com/observer/osm/story/0,,543962,00.html" target="_blank" rel="noopener">according to Observer Sport</a>.</p><p>Milovanovic concluded: "Federer is the greatest men's tennis player ever. He isn't anything like Riggs or Braasch [because] he has some of the best training regimes that anyone could ask for. His strokes are imperious and he hits powerfully.</p><p>"Williams was unable to beat Braasch, or even make it competitive. How would she fare against Roger Federer? My guess is she'd be very lucky to win one game in a best of five."</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5ac3e71925c48d1d008b48ff-2000/serena williams.jpg" border="0" alt="Serena Williams" data-mce-source="Getty Images" /><p class="source"><span>Getty Images</span></p><p class="caption">Serena Williams.</p></div><p></p></div></div></p><p>Quora user Pratish Ganguly pointed to the technical aspects of the game, rather than the historical, as a way of finding an answer. To beat Federer, Ganguly says an opponent must have all of the following things:</p><ol><li><strong>A very good serve.</strong></li><li><strong>An equally good return.</strong></li><li><strong>Nice strong rallies.</strong></li><li><strong>Ability to either out-hit Federer or find absurd angles.</strong></li><li><strong> A lot of stamina.</strong></li></ol><p>Serena Williams recorded a career-high fast serve of 207 km/hr (128.6 mph) <a href="https://www.youtube.com/watch?v=i_pBskiwocQ" target="_blank" rel="noopener">at the 2013 Australian Open</a>. Ganguly says this remains 20% slower than the serves Federer is used to returning when he competes against - and defeats - male players like Jo-Wilfried Tsonga (<a href="https://www.thescore.com/news/551728" target="_blank" rel="noopener">236.5 km/h or 147 mph</a>) or Andy Roddick (<a href="https://www.si.com/tennis/photos/2011/03/10fastest-serves-in-tennis" target="_blank" rel="noopener">249.4 km/h or 155 mph</a>).</p><p>"On the basis of her serve, Serena can definitely not beat Federer," Ganguly said.</p><p>"His movement is much better than Serena's, [he has] much more stamina having himself played many five setters over his lifetime, [and] knows how to pace his game to defeat an opponent without even reaching the top gear."</p><h2>Here's what the professionals say</h2><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5ac4d01b7a74af27008b45a4-2000/serena williams and john mcenroe.jpg" border="0" alt="Serena Williams and John McEnroe" data-mce-source="Getty Images" /><p class="source"><span>Getty Images</span></p><p class="caption">Serena Williams and John McEnroe.</p></div><p></p></div></div></p><p>In an <a href="https://www.npr.org/2017/06/25/534149646/but-seriously-tennis-great-john-mcenroe-says-hes-seeking-inner-peace" target="_blank" rel="noopener">NPR interview to discuss his 2017 book "But Seriously,"</a> former tennis champion John McEnroe claimed Serena Williams would struggle to crack the top-700 ranked players if she competed in the male circuit.</p><p>"If she played the men's circuit she'd be like 700 in the world," McEnroe said. "That doesn't mean I don't think Serena is an incredible player. I do… but if she had to just play the circuit - the men's circuit - that would be an entirely different story."</p><p>McEnroe was criticised for his <a href="https://www.vox.com/culture/2017/6/27/15879520/john-mcenroe-serena-williams-greatest-controversy" target="_blank" rel="noopener">"clumsy"</a> comments, but Williams herself even conceded in 2013 that if she played a top player like Andy Murray she would likely <a href="https://www.thedailybeast.com/the-battle-of-the-sexes-is-back-serena-vs-the-men" target="_blank" rel="noopener">"lose 6-0, 6-0, in five to six minutes."</a></p><p>Federer's head-to-head record against Murray <a href="http://www.atpworldtour.com/en/players/fedex-head-2-head/roger-federer-vs-andy-murray/F324/MC10" target="_blank" rel="noopener">consists of 14 wins against 11 losses</a>, so if Williams believes she would lose to Murray, she would likely lose just as badly to Federer.</p><p>Ultimately, comparing Federer and Williams is a frivolous task, as they will only ever compete against each other if another "Battle of the Sexes" tennis match materialises.</p><p>Ganguly perhaps summarises it best with this statement: "Just enjoy their game as long as they are playing, because you seldom get to see such players, playing [at] such [a high] level of tennis."</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/video-dropbox-ceo-drew-houston-ipo-interview-2018-3">Dropbox CEO talks about how he went from rejecting Steve Jobs to an $11 billion IPO</a></h3>        <div>            <iframe class="bijwplayerclass" data-player="jwplayer" src="https://content.jwplatform.com/players/OrufnKUf-xjRU7l6Z.html" width="100%" height="100%" frameborder="0" scrolling="auto" style="margin:0px;" allowfullscreen=""></iframe><script>function receiveMessage(event){ console.log(event.data.fullscreen); Android.fullscreen(event.data.fullscreen); }window.addEventListener("message", receiveMessage, false);</script>        </div>    </div>

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Best mini fridge (refrigerator) in India

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