Tax Reduction Tips
In the rush to get tax returns prepared and filed by April 15th, many overpay their taxes. Following are a few tax reduction tips that could help you save a bundle.Tax Credit For Starting A Small Business Pension PlanEstablishing a pension plan can help you retain important employees. What many... 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
Understanding Marketing Tax Deductions
Marketing is a necessary expense in running practically any business and the IRS acknowledges as much. You may run advertisements on or in the Internet, radio, television, magazines, newspapers and other media to sell your products or services. You should be deducting all of the associated costs on your tax... 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 they did not bring in their homework. "My dog ate it" or "It was stolen by invisible space aliens" might be given as a reason why something was not turned in on time. Don't try those excuses with the IRS!... Read More
1031 Exchange Rules and Requirements
Following is a reproduction of the IRS's rules and requirements for 1031 tax deferred exchanges with regards to real property. If you have any questions regarding the sale of your real property or questions about what qualifies for a 1031 exchange or not, please consult your tax professional.Sec. 1031. -... 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
Tax Trap #1 -- Waiting to Incorporate: What A Difference A Date Can Make
NOTE: This is the first in a series of 5 articles: "Small Business Tax Traps and How To Avoid Them"If you're a sole proprietor, perhaps you've considered incorporating your small business or self-employment activity.And so maybe you've been wondering, "When is the best time to incorporate?"From a legal standpoint, any... Read More
The Implications of Income Tax Charge on Estate Planning
OverviewIn the Pre-Budget Report of December 2003 the Chancellor Gordon Brown announced proposals to levy an Income Tax charge from 6th April 2005 in those circumstances where the transferor of an asset retains and interest or continues to benefit from that asset. In the instance of real property, the 'benefit'... Read More
Tax Deduction for Alimony Payments? - Yes!
Over 50% of marriages end in divorce in the United States. Many divorce decrees include provisions for the payment of alimony. The IRS takes the position that such payments constitute a form of income and create an alimony tax deduction for the person making payments.According to the IRS, alimony payments... Read More
Small Businesses Filing Amended Federal Tax Returns to Recover Money
Small Businesses Filing Amended Federal Tax Returns to Recover Money By Darren Oliver April 15th may be gone but, but certainly not forgotten ? especially if you, like millions of small businesses, unknowingly overpaid your federal taxes and can recover money... Read More
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Tax Strategy - Let Washington Pay for Your Corvette, Porsche, or Air Plane
Deducting Your Auto ExpensesAuto deductions are a very complex topic.... Read More
IRS Lock-In Letters ? What?s An Employer To Do?
Employers often ask employees to designate the amount of tax... Read More
A Taxing Investment
April 15 - The most dreaded day of the year... Read More
Gambling Income and Expenses - Tax Requirements
Hit a big one? With more and more gambling establishments,... Read More
Tips and Simple Guidelines on How to Calculate Payroll Taxes
Managing a business small, medium or big requires you to... Read More
Small Business Tax Deduction - Write-Off Bad Debts
Practically every small business has receivables that it cannot obtain... Read More
Home Business Tax Tips
If you have recently started an Internet or home business,... Read More
Insider Guides to IRS Audits!
Ever wish that, as a business owner, you knew exactly... Read More
Surprising Truths About Tax Preparers
Choosing the right tax preparer for your business is a... Read More
Tax Records - What You Should Keep And For How Long
Many taxpayers are confused about how long they should keep... Read More
Failure To Pay Employment Taxes ? Penalties
As an employer, you must pay employment taxes if you... Read More
What You Need To Know About Taxes If You?re Getting Married
It may not be high on the list of wedding... 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
Tax Trap #2 -- Double Taxation: Isnt Once Enough?
Have you been thinking about incorporating your small business or... Read More
The Seven Deadly Tax Sins: Commonly Missed Deductions
It's that time again, the April 15 tax deadline is... Read More
Tax Tips for Home-Based Business Owners
As tax time approaches, many home-based business owners begin completing... Read More
10 Thoughts on Tax Offer in Compromise
Beware of advertisements that claim to settle tax debts for... Read More
Tax Tips to Save Money on Taxes - Get the Corporate Kick and Save Loads of Money
Why a Corporation Helps Save You TaxesThe Tax Rates (Notice... Read More
Knock-Knock-Knock
Knock-Knock-KnockWho's there?The IRS!The next quarterly payment of estimated income tax... Read More
Organizing Your Taxes
Does this scene sound familiar? It's April 7. You haven't... Read More
Access to E-records by Taxing Authorities: A Case for Pakistan (Part I)
Background issues of access to recordsTo assess the records at... Read More
Need an Offshore Sales Office in a Tax Free Environment?
The 100 year old investment-banking firm of... Read More
Early Distributions From Retirement Plans
An early distribution from an Individual Retirement Arrangement (IRA) or... Read More
Truly Bizarre Taxes: The Tax on Illegal Drugs
One can never underestimate the enthusiasm that politicians have for... Read More
Estate Taxes - It Pays to Plan Ahead
Estate taxes. It's not enough to simply know they exist,... Read More
Back To School ? Educators Deduct School Expenses
As teachers and students head back to school following a... Read More
How Likely Are You To Be Audited?
Statistics for IndividualsUnfortunately, the IRS increased its rate of auditing... Read More
Are You Overpaying Taxes If You Use Tax Preparation Software?
For many business owners the answer to this quandary is... Read More
Small Business Tax Credit - Americans with Disabilities Act
Many small businesses complain when confronted with the expense of... Read More
Rental Property Tax Deductions
Own residential rental properties? This article discusses how income from... Read More
Taxation of Isle of Man Companies from April 2006
At the present time a company incorporated in the Isle... Read More
Car Donation: An Easy Way to Support Your Favorite Charity and Get a Tax Deduction
Most people look forward to getting their tax return, but... Read More
Business Tax Loophole: Leasing Assets To Your Corporation
While there are many equally valid reasons to incorporate, saving... Read More
Insider Guides to IRS Audits!
Ever wish that, as a business owner, you knew exactly... Read More
Fraudulent Tax Shelters ? KMPG Goes Down Hard
In the largest criminal tax case ever filed, KMPG has... Read More
Fiscal Deity: Tax Consultant
Strategic planning throughout the year results in a minimal tax... Read More
To Tax or Not to Tax - This is the Question
To tax or not to tax - this question could... Read More
Car Donation: An Easy Way to Support Your Favorite Charity and Get a Tax Deduction
Most people look forward to getting their tax return, but... Read More
What You Need To Know About Taxes If You?re Getting Married
It may not be high on the list of wedding... Read More
Save Money on Taxes - Is the Only Way to Get Your Tax Savings is to Sleep With an IRS Agent?
Tilting the Tax Laws in Your Favor.In order to accelerate... Read More
Tax Trap #4 -- The Quagmire of Depreciation
If you are a Small Business Owner or Self-Employed Person,... Read More
Seven Key Tax Deductions for the Self Employed
As a sole proprietor, it's wise to familiarize yourself with... Read More
The Tax Man Cometh... To Search
You're at your office, or home, and the doorbell rings... Read More
Tax Time Tune Up
Excerpted from the new book, "How to Do Space Age... Read More
Euro Tax Haven Threat
Media reporting of a new EU savings tax directive has... Read More
SFR Substitute for Returns: IRS Action on Non-Filers
In the latest Star Wars episode, the evil empire executes... Read More
The Internet Tax Man Cometh
Q: I was contacted by the city tax collector to... Read More
Taxation of Isle of Man Companies from April 2006
At the present time a company incorporated in the Isle... Read More
How Home-Based Businesses Can Avoid Giving Uncle Sam More than His Share
How Home-Based Businesses Can Avoid Giving Uncle Sam... Read More
Early Distributions From Retirement Plans
An early distribution from an Individual Retirement Arrangement (IRA) or... Read More
Highlights of IRS List of 2005 Tax Scams
Each year, the IRS lists various scams taxpayers get caught... Read More
Are You An Innocent Victim of These Popular Myths?
Misconceptions, misinterpretations and just plain "untruths" are floating about income... Read More
Understanding Marketing Tax Deductions
Marketing is a necessary expense in running practically any business... Read More
How to Check the Status of Your Tax Refund Online
So, you were pleasantly surprised to learn that you are... Read More
The Seven Deadly Tax Sins: Commonly Missed Deductions
It's that time again, the April 15 tax deadline is... Read More
Navigating The Internet Sales Tax Laws
QUESTION: I have been contacted by my local city... Read More
Small Business Tax Deduction - Write-Off Bad Debts
Practically every small business has receivables that it cannot obtain... Read More
Access to E-records by Taxing Authorities: A Case for Pakistan (Part I)
Background issues of access to recordsTo assess the records at... Read More
The Implications of Income Tax Charge on Estate Planning
OverviewIn the Pre-Budget Report of December 2003 the Chancellor Gordon... Read More
Business Tax Deductions
As we enter mid-March, taxpayers begin to become very interested... Read More
Small Business Tax Issues for Self-Employed Individuals
The United States is a nation of entrepreneurs. There are... Read More
Rental Property Tax Deductions
Own residential rental properties? This article discusses how income from... Read More
How Likely Are You To Be Audited?
Statistics for IndividualsUnfortunately, the IRS increased its rate of auditing... Read More
How To Set Up A Tax-Saving Bookkeeping System
One of the most important, but least understood or appreciated... Read More
Small Business Tax Credit - Americans with Disabilities Act
Many small businesses complain when confronted with the expense of... Read More
Six Urban Myths About Taxation
Six Urban Myths ? Taxation"I am proud to be paying... Read More
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