Taxes

263 Articles total.
How To Audit-Proof Your Tax Return Forever: A Recent Close Encounter Of The IRS-Kind

On Feb 25, 2015 0 104 52

Congress has passed legislation that is supposed to result in a more "sensitive" Internal Revenue Service. You know, not such a lean, mean, tax-collecting machine. Hmmm . . . . What do you think? A few months ago, one of my clients (let's call him Mr...

Revealing The Truth Behind The Garnishment Laws

On Feb 25, 2015 0 104 52

Garnishment law has been in force to improvise the mode of collection of payment for the money due towards the federal government or any other creditor. Garnishment law also states wage garnishment according to which the money is deducted directly from the person†s salary after assessing the monthly expenses vis-à-vis monthly income...

Tax Magic: How To Turn Taxable Income Into Tax-Free Income

On Feb 25, 2015 0 104 52

Believe it or not, there are ways to convert taxable income into non-taxable income, without any fear of an IRS audit. Here's one of my favorites. It's been part of our tax code for over 30 years, yet many still don't take advantage of it...

How to minimize your taxes on wealth

On Feb 25, 2015 0 104 52

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...

Helping Working Families with the Earned Income Tax Credit

On Feb 25, 2015 0 104 52

In the past, clients of NORWESCAP's Family Self-Sufficiency program in Morris County, NJ have used the tax return they received through the Earned Income Tax Credit (EITC) for a down payment on a car, a security deposit on an apartment or to pay debts, said Penny Olson, the program's director...

What to Do If You Can†t Pay Your Taxes

On Feb 25, 2015 0 104 52

The end of tax filing extensions is quickly approaching. What do you do if you can†t pay the amounts you owe? You should still file your return by the due date and pay as much as you can. There are, however, additional steps that might help...

Determining Your Tax Status

On Feb 25, 2015 0 104 52

Knowing how to determine your tax status, and knowing the difference between each group will help to make filing your income tax return go smoother. Here we will discuss the ways in which you determine which status to file under...

Should You Pay Taxes Or Not?

On Feb 25, 2015 0 104 52

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 revenue than the previous lower rates...

Save Energy And Money On Taxes At The Same Time

On Feb 25, 2015 0 104 52

In an effort to help promote alternative energy and energy conservation, the federal government is offering some tax credits to people who buy certain products like insulated windows, energy-efficient heat pumps and hybrid cars...



Tax Refund Email Scam – IRS Warning

On Feb 25, 2015 0 104 52

The IRS has issued a warning regarding a phishing email scam. The scam claims you are due a tax refund, but is really designed to obtain your personal information. Tax Refund Email Scam Phishing scams are designed to swindle you into providing private information that can be used to your detriment...

Capital Assets – Gains and Losses for Taxes

On Feb 25, 2015 0 104 52

Capital is a unique term when it comes to taxes. If it gains value, you pay a tax. If it loses it, you can write at least some of the loss off. Capital Assets – Gains and Losses for Taxes Practically everything you own is a capital asset...

Tax Savings Tips For Parents

On Feb 25, 2015 0 104 52

Ask any new parent, and they will tell you that the costs associated with a new baby are many, everything from bottles to diapers to cribs, strollers, and high chairs, and all of this before the child even learns to walk and talk and beg you for a pair of $500 designer jeans...

Tax Season – Time for Scams

On Feb 25, 2015 0 104 52

As tax season draws irresistibly closer, the scam artists are polishing their latest techniques. This article should help you keep an eye out for these nasty individuals. Tax Season – Time for Scams In a particularly cheeky move, scam artists have started posing in on form or another as the IRS in an effort to get you to turn over social security numbers and such...

What Is A Dependent For Tax Purposes?

On Feb 25, 2015 0 104 52

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 credits you can claim on your tax return...

Getting A Tax Break With Your Hybrid Vehicle

On Feb 25, 2015 0 104 52

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...

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