Taxes

263 Articles total.
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...

How To Keep The IRS Off Your Back And Out Of Your Life In 2006

On Feb 25, 2015 0 104 52

Sorry to crash your party, but as we bring in the New Year, it's also time to bring in a New Tax Season. As a small business owner or self-employed person, one of the easiest ways to keep Uncle Sam off your back and out of your life is to file your forms, payments and other paperwork on time...

IRS Gives Victims of Hurricane Katrina More Relief

On Feb 25, 2015 0 104 52

The IRS has announced further tax relief for victims of Hurricane Katrina due to slow clean up efforts and obviously devastated areas. The IRS is giving relief to both businesses and individual taxpayers in certain areas that have been absolutely wiped out...

Tax Preparation Software: The Good, the Bad and the Ugly

On Feb 25, 2015 0 104 52

The medium is the message, it's sometimes said. Think of Franklin D Roosevelt and his “fireside chats†to the nation. In a pre-TV era, the radio was the perfect medium to “have a conversation with the American peopleâ€...

Top 7 Small Business Tax Tips

On Feb 25, 2015 0 104 52

Here are seven ways for owners of small businesses to save money on their taxes. 1. Incorporate Yourself: If you re still a proprietor or partner of a business, it s time to incorporate yourself. Not only will you limit your liability, but you may enjoy lower tax rates on small business income and other tax advantages as well...

Tax Credits for Toyota Hybrids To Be Cut In Half

On Feb 25, 2015 0 104 52

If you purchase a new hybrid car after January 1, 2006, you can get a major tax credit for doing so. Alas, the tax credits applicable for Toyota hybrids are about to be cut in half. Tax Credits for Toyota Hybrids To Be Cut In Half The government uses all types of methodology to modify our behavior...

I used money from my home equity loan to pay off some of my personal debts. Can I deduct interest?

On Feb 25, 2015 0 104 52

In some instances, it is possible for individuals to deduct the interest of such home equity loans on their state and federal taxes, which are, or at least should be, filed annually the Internal Revenue Service...

Tax Tips for Real Estate Investors Using IRA Funds

On Feb 25, 2015 0 104 52

You†ve seen the advertisements and news articles. IRA funds can be used to make real estate investments. But before you jump on this bandwagon, make sure you understand some of the tax planning angles related to this opportunity...

Marriage and Taxes

On Feb 25, 2015 0 104 52

Getting married is the greatest day for 50 percent of couples. The other 50 percent get divorced. Perhaps the marriage tax penalty has something to do with it. Family Values – Hardly For all the chatter from politicians about family values, it is ironic that the tax code actually penalizes people for getting married...



The Tax Payer as Gilligan

On Feb 25, 2015 0 104 52

Let†s all sing a new version to the tune of the 60†s sitcom “Gilligan†s Island††“Just sit right back and you'll hear a tale, a tale of mishandled use; that started with our nation†s past to form a fiscal noose...

Year End Investment Ideas and Tax Strategies

On Feb 25, 2015 0 104 52

First thing Monday morning I'm going to march into my boss's office and demand a pay cut so that I'll be in a lower tax bracket next year. Of course that's ridiculous, but isn't it about the same as the financial community's "Conventional Wisdom" (CW) for year-end tax planning? What about the long-term nature of investing, or the merits of that investment they felt so strongly about in July? What are their motivations, and what discipline thought up these strategies in the first place? Clearly there are many questions that require answers, but as investors, it should be crystal clear that the object of the investment exercise is to make money...

Getting Help With Your Taxes

On Feb 25, 2015 0 104 52

Preparing your taxes can be incredibly stressful. In many cases, it just makes sense to get some help with them. Save Me From This Misery! When it comes time to file taxes, you can look to software or a real live person...

2006 List of Tax Scams Released by IRS

On Feb 25, 2015 0 104 52

Every year, the IRS issues a list of tax scams. The goal is to alert taxpayers to the lack of merit of certain strategies as well as letting everyone know the IRS will not accept them. 2006 Scams The IRS has kicked out its annual list of highly dubious tax scams for 2006...

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...

Time Requirements And Mechanics Of A Tax Exchange

On Feb 25, 2015 0 104 52

The Exchangor has a maximum of 180 days from the closing of the relinquished property or the due date of that year's tax return, whichever occurs first, to acquire the replacement property. This is called the Acquisition Period...

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