Few things threaten your well-being like the harassment and anxiety of persistent tax problems. Most people make 3 mistakes that get them in trouble with the IRS. They procrastinate. They attempt to …
Your Tip Earnings and Taxes
If you work in a service where you get tips, guess what? The IRS expects you to report them and pay taxes on them. Your Tip Earnings and Taxes The internal revenue service takes a very simple …
Wise Tax Ideas
Most people don't really look forward to filing their tax returns and paying their taxes. As it is, there really isn't much to look forward to because it is a tedious process that can take weeks to …
Your IRS Tax Appeal Rights
Are you in the middle of a disagreement with the IRS? One of the guaranteed rights for all taxpayers is the right to appeal. If you disagree with the IRS about the amount of your tax liability or …
Your Appeal Rights When Fighting The IRS
Are you in the middle of a disagreement with the IRS? One of the guaranteed rights for all taxpayers is the right to appeal. If you disagree with the IRS about the amount of your tax liability or …
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Your Auction Business & Taxes
Taxes is an issue when running an Auction Business. But is there a grey line when it comes to declaring it? It's really within reason if you're going to do a huge amount of it, a small amount is …
Will the Estate Tax Ever Go Away?
The "Estate Tax" is the tax that the government puts on the assets that are transferred to your beneficiaries when you die. Taxable assets can include real estate, stocks, money in a bank account, and …
Write-Off Bad Business Debts On Your Taxes
Practically every small business has receivables that it cannot obtain from clients. If your small business doesn't have any such receivables, consider yourself lucky. For those small businesses that …
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What Is The Fair Tax And Why Should You Care?
The U.S. Federal Income Tax Code is a tax on the income of American companies and citizens enacted by the government. The U.S. Constitution gives Congress the power to impose taxes, duties, imposts, …
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Which 1099 Tax Forms concern you?
It's tax time again and you must be sure to receive all the necessary forms. What is a 1099 tax form and who gets one? A Tax Form 1099 is used to report income other than wages, salaries and tips. …
Year End Investment Ideas and Tax Strategies
First thing Monday morning I'm going to march into my boss's office and demand a pay cut so that I'll be in a lower tax bracket next year. Of course that's ridiculous, but isn't it about the …
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Why Income Tax Hurt Income Earners And Workers
All wealth redistribution comes in the form of the equivalent of tax and welfare. However, you need to be careful. Incorrect taxation schemes can result in less wealth for you. You see, by reading …
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When Do You File a Tax Return?
The first known income tax that Americans were legally required to pay was enacted during the 1860s, and the Presidency of Abraham Lincoln. The Civil War was proving very costly to fund, and the …
What Is A Deferred 1031 Tax Exchange?
A tax deferred exchange represents a simple, strategic method for selling one qualifying property and the subsequent acquisition of another qualifying property within a specific time frame. Although …
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Why Do I Need A Tax Attorney?
It is unfortunate but true, that many people do not even consider consulting a tax attorney until they open their mailboxes one day and there is that dreaded letter from the IRS. A tax attorney is a …
What Is A Dependent For Tax Purposes?
What are the qualifying characteristics of a dependent for tax purposes? Following is a general explanation on how to determine dependents, and how it relates to your tax status, liability and the …
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When Tax Day Comes Four Times A Year
For more than 10 million Americans, tax day comes up to four times a year. Many small business owners, as well as people earning income from investments, rental property or alimony, are often required …
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Will You Make The 39 Cent Mistake This Tax Season?
When it comes to filing your tax return, spending 39 cents could be the biggest mistake you ever make. Millions of taxpayers make the mistake of putting their income tax return in a regular …
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Uneducated Tax System v. Educated Tax System
The line under your income on your pay stub is where these two systems differ. With the uneducated tax system, you deduct the three lines under your income and the remainder is what you receive. With …
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What to Look for in Online Tax Prep and Filing Software
You may have a less taxing time this April if you let computer software do much of the hard work filing with the IRS. You won't be alone. According to IRS data, more than 68 million tax returns were …
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Various Toyota Hybrids Get Tax Credit Certification From IRS
Starting in 2006, individuals buying hybrid cars will get a tax credit instead of a tax deduction. The IRS has just started to kick out the exact amounts you can claim for your new hybrid. Various …
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Understanding The Tax Implications Of Life Settlements
Understanding the tax implications of replacing or selling existing life insurance coverage will help shed some light on the options available to financial advisors and policy holders looking to …
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Types Of Tax Exchanges
Although the vast majority of exchanges occurring presently are delayed exchanges, let us briefly explain a few other exchanging alternatives. Simultaneous Exchange As mentioned previously, prior to …
Use Child Tax Credit for Tax Savings
Now, here's a real tax savings to the individual taxpayer with dependents. The child tax credit is a direct federal income tax credit based on the number of dependent children in your family. This …
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What Your Tax Dollars Do For You
In this article, we will take a look at the influence the government exerts over our daily lives through our taxation, and the good and bad aspects of that influence. Through direct spending, the …