Taxes

263 Articles total.
How Tax Deductions Work

On Feb 25, 2015 0 104 52

Many people know that the interest paid on a mortgage is deductible on their income taxes. But they don't understand how it really works. When you understand the way a tax deduction works, you should be able to estimate the amount of tax relief you would receive from owning your own home and paying a mortgage...

It's a Taxing Time of Year

On Feb 25, 2015 0 104 52

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...

Captial Gains Tax Explained

On Feb 25, 2015 0 104 52

Capital Gains tax is a federal tax penalty that is imposed on capital accumulation, investment and productivity. Some of the income that is subject to capital gains tax includes the sale of an investment, a home, a family business, a farm or ranch or even a work of art...

UK Taxation Treatment For Rental Income

On Feb 25, 2015 0 104 52

Property Rental Income for Individuals UK Rents and licence's are regarded as UK land and property. Land and property income is all income deriving from such property as if it were a trade. Therefore this is calculated as all income being assessed in the tax year on an "accruals" basis...

Tax Deduction – Meal Per Diems

On Feb 25, 2015 0 104 52

Per Diems deduction can be one of the best flight attendant deductions. This deduction depends on which city you layover in. The IRS states that you can either itemize each city you fly to or you may take a standard rate...

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...

Create Tax Savings And Transfer Wealth To Your Child With A Roth IRA

On Feb 25, 2015 0 104 52

Parents must give serious thought to protecting their family through estate tax planning. While life insurance and trusts should be a part of every plan, Roth IRAs can be a simple tool for passing money to your child on a tax-free basis...

Taxes Q&A: Understanding What Is And Is Not Taxable

On Feb 25, 2015 0 104 52

* Is Social Security retirement income taxable? Social Security retirement benefits are taxable, although it depends on your total income and civil status. Federal law states that an individual must pay taxes if he/she has annual Social Security retirement income of more than $25,000...

Giving To Charities – Tax Deductions and Such

On Feb 25, 2015 0 104 52

The tax code in the United States contains many provisions to promote certain behavior. One area of behavior is the promotion of giving to qualified charities. Giving To Charities – Tax Deductions and Such In the rush to get tax returns prepared and filed, many people absentmindedly forget to include deductions for contributions to charities...



Debunking Common Myths About IRAs

On Feb 25, 2015 0 104 52

According to a recent "Retirement Trends" survey by Fidelity Investments, 96 percent of Americans saving for retirement don't know the current contribution limit for an individual retirement account, with some guessing as low as $1,000...

Honda Natural Gas Cars Issued Massive Tax Credits By IRS

On Feb 25, 2015 0 104 52

Between global warming and massive increases in fuel prices, many people are reconsidering their transportation. Honda has two natural gas cars the IRS absolutely loves. Honda Natural Gas Cars Issued Massive Tax Credits By IRS In 2005, the federal government passed a new energy policy act that created tax benefits for the use of alternative fuel vehicles...

What Is A Deferred 1031 Tax Exchange?

On Feb 25, 2015 0 104 52

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 the logistics of selling one property and buying another are virtually identical to any standard sale and purchase scenario, an exchange is different because the entire transaction is memorialized as an exchange and not a sale...

Vital Online Tax Resources for Small Businesses

On Feb 25, 2015 0 104 52

 2006Simple questions are often the most difficult to answer. Or so it seems when dealing with the government. Small businesses have enough to worry about around tax time without having to struggle to find the information they desperately need...

Reduce your tax payments

On Feb 25, 2015 0 104 52

Reduce your tax payments by claiming an interest payment deduction. If you are busy paying off your student loans, the last thing you want to do is to pay interest on the money that you're about to give right back to the government...

FCC's Proposed Change Could Raise Phone Taxes

On Feb 25, 2015 0 104 52

Americans are speaking out against a proposal by the Federal Communications Commission (FCC) that could raise millions of people's phone bills. The proposal by FCC Chairman Kevin Martin has to do with a tax called the Universal Service Fund (USF)...

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