How To Set Up A Tax-Saving Bookkeeping System
One of the most important, but least understood or appreciated aspects of any business is its bookkeeping or accounting system. And, because very few people know much about the reasons for a bookkeeping system, most people are frightened by the thought of the work involved in setting up such a... Read More
Correspondence From The IRS ? Yikes!
It's a moment every person dreads. You pick up the mail and there is an envelope from the IRS. It's not a refund check. What do you do?Don't PanicEach year, the IRS sends out millions of "correspondence audits" to taxpayers to request payment of taxes, notify them of a change... Read More
Business Tax Deductions
As we enter mid-March, taxpayers begin to become very interested in deductions. Following are a few that you may be entitled to claim.Deductible Expenses· Office expenses· Rent or lease payments· Advertising· Costs of goods sold· Insurance costs· Utilities· Payments to independent contractors [file form 1099]· Accounting fees· Legal fees· Communication... Read More
The Seven Deadly Tax Sins: Commonly Missed Deductions
It's that time again, the April 15 tax deadline is looming large. If youre like most people, you havent gathered all of your tax records, let alone filled your return.Before you dig in and get started, take this opportunity to first review a list of a few tax deductions to... Read More
Tax Secrets - How Drew Miles Helped Me
How about a Tax Tip?As we all know Taxes are a necessary evil. While none of us like paying taxes there are many strategists out there that can make your life a lot easier when that dreaded day arrives.Recently I received a "Tax Tip" that saved me a ton of... Read More
Tax Tips - Which Tax Form Is Right For Me?
IRS Tax forms can be confusing.Am I a 1099 or a W-2. Do I need an 8832 or a W-7. What the difference between an "S" corp and schedule "C" income?Tax Secrets of the Rich Found HereOur program is designed to teach you to build lasting... Read More
Are You An Innocent Victim of These Popular Myths?
Misconceptions, misinterpretations and just plain "untruths" are floating about income taxes. Believing them could be costing thousands of tax dollars!Myth: A Professional Tax Preparer knows all there is to know about taxes so you don't have to know anything them.Truth: Tax Preparer's/CPA's/Accountants are not uniformly informed about ALL tax laws.... Read More
The Annual Gift Tax Exclusion: Getting The Edge
Whether helping the kids with a down payment on their first home, paying the premiums on a life insurance policy in an irrevocable trust, or moving appreciated assets to a younger generation, annual gifting will touch the lives of millions of Americans. But before the transfer is made, an investor... Read More
Small Business Tax Credit - Americans with Disabilities Act
Many small businesses complain when confronted with the expense of complying with the Americans with Disabilities Act. Most do not realize that there are a number of tax incentives available to offset the costs. Importantly, one tax incentive comes in the form of a tax credit, which is far more... Read More
Save Money on Taxes - Let Uncle Sam Pay for Your Fun!
"Deducting Meals and Entertainment"O.K. You've been working really hard on these lessons. Now its time for some fun. Are you with me? Imagine if you could spend time with friends, eating, drinking and seeing shows and your company could foot the bill? Wouldn't that be GREAT! Fasten your seat belt,... Read More
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How to Check the Status of Your Tax Refund Online
So, you were pleasantly surprised to learn that you are... Read More
What the Tax Software Companies Dont Want You to Know
Haven't done your taxes yet? No problem. Now there is... Read More
Furnishing Evidence in E-Tax Compliance
Self-assessment relies on taxpayers voluntarily meeting their tax obligations. This... Read More
Reducing Taxes Through Dividend-Salary Mix Calculations
Should I take wages or dividends from my privately owned... Read More
Rental Property Tax Deductions
Own residential rental properties? This article discusses how income from... Read More
Income Tax Returns Your Accountant Should Not File
You've been feeling uneasy (perhaps even guilty) because you've failed... Read More
Military Reservists, Enlistees May Get Deferral of Back Taxes
Reservists called to active duty and enlistees in the armed... Read More
Tax Reduction Tips
In the rush to get tax returns prepared and filed... Read More
The Internet Tax Man Cometh
Q: I was contacted by the city tax collector to... Read More
How to Donate Your Car to Charity and Get Tax Deduction
Donating your used car to charity is a win-win situation;... Read More
1031 Exchange Rules and Requirements
Following is a reproduction of the IRS's rules and requirements... Read More
Donating Cars To Charity - New Tax Rules
On June 3, 2005, the IRS released guidance on charitable... Read More
Home Business Tax Tips
If you have recently started an Internet or home business,... Read More
What to Do If You Can?t Pay Your Taxes
The end of tax filing extensions is quickly approaching. What... Read More
What Is Tax Law?
The federal tax code is complex. This complexity generally arises... Read More
Slash Tax when Buying a Business
When buying a business, how the "purchase price" is made... Read More
Send Your Kids To Summer Camp and Write It Off
If you paid someone to care for a child so... Read More
Fraudulent Tax Shelters ? KMPG Goes Down Hard
In the largest criminal tax case ever filed, KMPG has... Read More
The Implications of Income Tax Charge on Estate Planning
OverviewIn the Pre-Budget Report of December 2003 the Chancellor Gordon... Read More
History Of The Federal Income Tax
The powers of Congress, and the limitations set upon those... Read More
Organizing Your Taxes
Does this scene sound familiar? It's April 7. You haven't... Read More
Tax Audits: What Signs Make You More Likely to be Audited by the IRS?
It's a major fear for most Americans: A notice from... Read More
About Income Taxes; Tidbits
1812The first attempt to impose an income tax on America... Read More
Paying Workers ? What Can You Write-Off?
As your business grows, you are going to need help.... Read More
Employment Taxes ? Depositing With The IRS
If your business has employees, you must pay employment taxes.... Read More
Render Unto Caesar
Once a year Canadian taxpayers are required, by law, to... Read More
Tax Time Tune Up
Excerpted from the new book, "How to Do Space Age... Read More
A Taxing Investment
April 15 - The most dreaded day of the year... Read More
Small Business Tax Issues for Self-Employed Individuals
The United States is a nation of entrepreneurs. There are... Read More
How To Claim CHILD TAX CREDIT The Right Way And Add An Extra $2,000 To Your Refund
The U.S. Department of Agriculture estimates that it costs nearly... Read More
Tips and Simple Guidelines on How to Calculate Payroll Taxes
Managing a business small, medium or big requires you to... Read More
Tax Deduction for Alimony Payments? - Yes!
Over 50% of marriages end in divorce in the United... Read More
Know A Tax Cheat? Get Paid To Tell The IRS
According to the IRS, taxpayers underpay their taxes by some... Read More
Send Your Kids To Summer Camp and Write It Off
If you paid someone to care for a child so... Read More
Understanding Basic Tax Terms
If your like many, you don't always understand what people... Read More
How To Get An Extension To File Your Business Tax Returns
Yes, the tax season is upon with the first filing... Read More
Furnishing Evidence in E-Tax Compliance
Self-assessment relies on taxpayers voluntarily meeting their tax obligations. This... Read More
Deducting Points On Home Refinances
Deduction of Refinance PointsAny points that you pay in the... Read More
Rental Property Tax Deductions
Own residential rental properties? This article discusses how income from... Read More
Save Money on Taxes - Let Uncle Sam Pay for Your Fun!
"Deducting Meals and Entertainment"O.K. You've been working really hard on... Read More
Tax Trap #4 -- The Quagmire of Depreciation
If you are a Small Business Owner or Self-Employed Person,... Read More
Small Businesses Filing Amended Federal Tax Returns to Recover Money
Small Businesses Filing Amended Federal Tax Returns to... Read More
Small Businesses: Company Car Vs. Personal Mileage Reimbursement In Hurricane Katrinas Wake
With gas prices at an all time high before Hurricane... Read More
The Tax Man Cometh... To Search
You're at your office, or home, and the doorbell rings... Read More
Home Business Tax Tips
If you have recently started an Internet or home business,... Read More
How to Reduce the Estate Tax Using the A-B Revocable Living Trust
In a past article I relayed the plight of the... Read More
Paying Workers ? What Can You Write-Off?
As your business grows, you are going to need help.... Read More
Donating Cars To Charity - New Tax Rules
On June 3, 2005, the IRS released guidance on charitable... Read More
Anticipating Your IRS Refund Can Cost You Plenty
While accountants are reaching for aspirin, millions of Americans are... Read More
Gambling Income and Expenses - Tax Requirements
Hit a big one? With more and more gambling establishments,... Read More
Tax Investigation - What You Need To Do
The knock on the door from a Tax Inspector is... Read More
How To Claim CHILD TAX CREDIT The Right Way And Add An Extra $2,000 To Your Refund
The U.S. Department of Agriculture estimates that it costs nearly... Read More
Tips and Simple Guidelines on How to Calculate Payroll Taxes
Managing a business small, medium or big requires you to... Read More
I Havent Filed a Tax Return with IRS in Years, What Do I Do?
In elementary school, kids come up with creative excuses why... Read More
Render Unto Caesar
Once a year Canadian taxpayers are required, by law, to... Read More
Highlights of IRS List of 2005 Tax Scams
Each year, the IRS lists various scams taxpayers get caught... Read More
How to Donate Your Car to Charity and Get Tax Deduction
Donating your used car to charity is a win-win situation;... Read More
How to Check the Status of Your Tax Refund Online
So, you were pleasantly surprised to learn that you are... Read More
Getting A Second Extension to File 2004 Taxes
Millions of people file tax return extensions every year. The... Read More
IRS Statute of Limitations: Do Taxes Ever Expire?
Many Americans believe that an IRS debt is a debt... Read More
Knock-Knock-Knock
Knock-Knock-KnockWho's there?The IRS!The next quarterly payment of estimated income tax... Read More
SFR Substitute for Returns: IRS Action on Non-Filers
In the latest Star Wars episode, the evil empire executes... Read More
Failure To Pay Employment Taxes ? Penalties
As an employer, you must pay employment taxes if you... Read More
Taxing Overseas Firms for SOX Compliance
The Sarbanes-Oxley Act, also called the Public Company Accounting Reform... Read More
Six Urban Myths About Taxation
Six Urban Myths ? Taxation"I am proud to be paying... Read More
Seven Key Tax Deductions for the Self Employed
As a sole proprietor, it's wise to familiarize yourself with... Read More
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