1). What Is A Standard Tax Deduction? By : Michael Williams
One thing you can always count on is the standard tax deduction. This deduction is one almost everyone can take advantage of it is an amount that is taxable as a flat amount. Find out more...
2). What Is An LLC Tax Deduction? By : Michael Williams
Limited liabilities companies or LLCs are a tricky bunch to get any kind of LLC tax deduction on. This is because the LLC tax reduction is not actually recognized by the federal government. Find out more...
3). Decoding the IRS Dependent Rules! How Do I Know When to Claim a Dependent? By : Timothy Rea
Taxes can be confusing to anyone, whether you’ve been paying the IRS for years or this is your first time. The IRS doesn’t have to be an "evil" entity, if you know how taxes work and where you can take deductions. This article looks at some of the general questions people have in regards to tax credits and how to deal with personal businesses.
4). Small Business Tax Deductions - Top 5 By : Mike Singh
With tax season just around the corner it is never too early to start thinking about available tax deductions. Which deductions can you claim this year? Find out more ...
5). Tax Planning - What Filing Choices Are There? By : Richard Callaby
Taxes is a share of government from the individuals income and in return tax payer gets better community and social services, better infrastructure, security of himself and other nationals and clean environment.
6). A Simple Introduction To Filing Electronic Taxes By : Keisha Seaton
Our current topic of discussion, is electronic tax filing, it makes use of the digital nervous system of the tax department, and in simple terms, it is the World Wide Web’s way of filing your tax returns.
7). What Would It Mean To Pass The FairTax Plan? By : John DeJong
How would you like to keep one hundred percent of everything you earn? That is one hundred percent of your paycheck, your savings interest, your inheritance, your winnings and any money given to you from a benefactor. How much would you like never to have to worry about tax laws, deadlines, audits, penalties and punishments?
8). New Laws on Donating a Car By : Jessica Deets
It is advisable for a car donor to discuss with his tax advisor before putting his efforts and acts together to donate a car. Donating a car is no longer treated as a very desirable tax deduction option with the new laws taking effect.
9). Why Our Political Leaders Should Embrace the Fair Tax Plan. By : John DeJong
The Fair Tax Plan (HR.25/S.25) has been out for well over a year now and yet there are still many people who have never even heard of it. One would think that a plan as bold and beneficial as this would be sounded from one coast to the next. Yet that is not the case. As a point of fact there are many liberal political leaders who continually ridicule the Fair Tax Plan whenever it is mentioned.
10). Income Tax Software - The Best Ones On The Market By : Mike Singh
There are several income tax software programs available on the market to help you complete your yearly taxes. But, which one is right for you? Find out ...
11). It's a Taxing Time of Year By : Stephanie Foster
Yes, that's right, it's that time of year nobody loves - tax time! No, this is not too early to think about it, especially if you have money coming to you.
All right, so it's not fun to think about doing your taxes. But there is a distinct advantage to getting an early start - it's a reminder to be more organized in this regard in the...
12). 1099-MISC Forms For Independent Contractors for 2005 By : Richard A. Chapo
As we begin 2005, you’re probably not thinking about taxes at all. This is a mistake as deadlines are approaching for issuing and filing 1099s to independent contractors.
What is a 1099 MISC?
Generally speaking, the IRS requires you to report certain payments you made during the year to independent contractors. The 1099-MI...
13). Getting The Biggest Benefit From Tax Help By : Stephen Kreutzer
Taxes are a way of American life. They are own duty to pay and file. Many people go in search of someone to help them when tax time rolls around. Tax help seems to be in abundance from January 1st to April 15th. Unfortunately, some tax help is best avoided. Other times the tax help is something that many people have no idea how to find. Getting the...
14). Getting A Tax Break With Your Hybrid Vehicle By : Gray Rollins
Buying a hybrid car gives the phrase “go green” a whole new meaning. Not only is it good for the environment, it’s also good for your pocket book. Check out the tax benefits of hybrid vehicles for yourself.
The government has decided that encouraging drivers to do their part to protect the environment could be better enhanced by offeri...
15). Home Office Tax Expenses By : Richard A. Chapo
Self-employed individuals often work out of their own home. If this is the case with you, here’s a primer on home office tax expenses you can claim on your taxes.
Home Office Tax Expenses
America is a country built on small businesses. Yes, the big companies are the darlings of the media, but the guts of our economy are t...
16). Rental Property Tax Deductions By : Richard A. Chapo
Own residential rental properties? This article discusses how income from those properties impacts your taxes.
What Constitutes Revenue?
Generally, rental income is defined as any revenue you receive from the occupancy or use of residential property. Rent, obviously, is included in that revenue. Many owners are surprised t...
17). Deducting Points On Home Refinances By : Richard A. Chapo
Any points that you pay in the refinancing of your residence are tax deductible over the length of the loan in question. The deduction is allowable only if the residence is your primary home and the new mortgage replaces a previous one and/or is used to improve the residence. To the extent that money is taken out to pay off credit cards and non-res...
18). How to minimize your taxes on wealth By : Jakob Jelling
Taxes on wealth or simply wealth tax is the tax levied on the value of wealth owned by a person. As the term ‘wealth’ carries with it a broader meaning, generally capital transfer taxes (which include inheritance tax and gift tax), property tax, and capital gains taxes are some times invariably referred to as wealth taxes.
Taxes on we...
19). Tax Preparation and Electronic Tax Preparation Options By : AJ
Just in time for tax season you will find yourself presented with this years editions of popular tax preparation programs that promise to make tax filing a breeze for the average person. Which one is right for you and what are some of the most popular electronic tax filing solutions? Read on as we discuss your tax preparation options and explore th...
20). Tax Invoice By : Max Plata
A tax invoice is a legal document that offers a look at what the GST is for a transaction. Read on to learn about your obligations for issuing, holding, and supplying the different types of tax invoices.
You can easily learn what the general requirements are for keeping tax invoices and what you can do if you receive a tax invoice too ...
21). Alternative Minimum Tax – Online Tool By : Richard A. Chapo
Hell hath no fury like a person who just found out the alternative minimum tax applies to them. The IRS has set up an online tool to figure out if you do.
Alternative Minimum Tax
The alternative minimum tax is a procedure that was set up to keep the richest of Americans from avoiding tax paying responsibilities. As is typ...
22). Various Ford and Mercury Hybrids Get Tax Credit Certification From IRS By : Richard A. Chapo
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 Ford and Mercury Hybrids Get Tax Credit Certification From IRS
Under the Energy Policy Act of 2005, the tax benefits of owning...
23). Appealing your property taxes for apartment/commercial owners By : Patrick OConnor, MAI
Property taxes are one of the largest line item costs incurred by apartment owners. However, many owners do not appeal effectively. Even though owners realize that property taxes can be managed and reduced through an appeal, some view taxes as an arbitrary estimate provided by the government which can't effectively be appealed. It tends to boil dow...
24). Automobile Tax Expenses By : Richard A. Chapo
If you use a vehicle for conducting business, you can deduct certain automobile tax expenses from your tax bill. This is true even if you use the vehicle for personal and business needs.
Automobile Tax Expenses
The powers that be have historically written sections into the tax code promoting business activities. One of th...
25). Should You Pay Taxes Or Not? By : J Shipper
The first attempt to impose an income tax on America occurred during the War of 1812. After more than two years of war, the federal government owed an unbelievable $100 million of debt. To pay for this, the government doubled the rates of its major source of revenue, customs duties on imports, which obstructed trade and ended up yielding less reven...
26). Using Mortgage Interest as an Itemized Deduction By : K Hoyng
What is mortgage interest? It is any interest you pay on a secured loan when you bought your first or second home. The loans include the mortgage to buy your home, a second mortgage, a line of credit or a home equity loan. The loan must be secured debt or it will be considered a personal loan and the interest is not deductible.
27). Inheritance taxes explained By : Jakob Jelling
Reduce inheritance taxes by giving gifts!
The inheritance tax is the same thing as the estate tax in the United States, but with a different name depending on the country that you are talking about. The inheritance tax is a tax that is supposed to be levied on the richest people after they die, especially if they have a considerably la...
28). Section 179 – Tax Relief From Depreciation Rules By : Richard A. Chapo
“Depreciation.” For business owners, this word is the one most likely to inspire headaches and fits of cussing. The expanded provisions of Section 179 are just the medicine you need to cure the depreciation blues.
Traditionally, if your business property had a life of more than one year, the cost had to be ded...
29). Failure To Pay Employment Taxes – Penalties By : Richard A. Chapo
As an employer, you must pay employment taxes if you have employees. Fail to pay and the IRS will rain all over your parade.
If you have employees, you absolutely must deduct and withhold various taxes from the paychecks of your employees. Since you are deducting money from the employee’s paycheck, you are handli...
30). Accounting Methods – Cash and Accrual By : Richard A. Chapo
When starting a business, you have to determine the method you are going to use for accounting and paying taxes. The two choices are the cash method and the accrual method.
If you are looking for simplicity, the cash method is probably your best accounting choice. Generally, income and deductions can be claimed...
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