Taxes

263 Articles total.
Tax Returns - Should You Itemize?

On Feb 25, 2020 0 104 52

When you finally decide it is time to prepare your taxes, the first question is whether you should itemize your deductions or take the standard deduction provided by the IRS. Choices, Choices… Tax deductions are a very simple part of a theoretically simple tax reporting system...

Tax Preparation and Electronic Tax Preparation Options

On Feb 25, 2020 0 104 52

Just in time for tax season you will find yourself presented with this years editions of popular tax preparation programs that promise to make tax filing a breeze for the average person. Which one is right for you and what are some of the most popular electronic tax filing solutions? Read on as we discuss your tax preparation options and explore the popularity of electronic tax filing...

Giving To Charities – Tax Deductions and Such

On Feb 25, 2020 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...

Come and get it…Your Federal Tax Credits

On Feb 25, 2020 0 104 52

Money is like manure; it's not worth a thing unless it's spread around encouraging young things to grow. – Thornton Wilder The lack of money is the root of all evil. – Mark Twain Did you know that Congress passed a bill in 2005 that can provide you a tax credit (that’s a dollar for dollar reduction in your tax bill to Uncle Sam!) for items that you may need to purchase for your house or even a new car? That’s right Congress passed the Energy Policy Act of 2005...

Tax Considerations when Hiring a Nanny

On Feb 25, 2020 0 104 52

To satisfy the IRS and remain a happy law abiding citizen, you'll need to assume the role of employer and pay employment taxes (Social Security, Medicare, etc.), report payroll withholdings (taxes, insurance benefits and the like) and of course, make sure that she is legally able to work in the United States...

Identity Theft – Impacting Your Taxes?

On Feb 25, 2020 0 104 52

If your identity is stolen, your finances can quickly become a nightmare. A less obvious problem is the effect identity theft can have on your taxes. Identity Theft Generally, thieves steal your personal data for the purpose of running up credit card charges or opening and abusing new accounts...

Home Office Tax Expenses

On Feb 25, 2020 0 104 52

Self-employed individuals often work out of their own home. If this is the case with you, here’s a primer on home office tax expenses you can claim on your taxes. Home Office Tax Expenses America is a country built on small businesses...

The IRS vs Mother Nature

On Feb 25, 2020 0 104 52

The IRS recently met its match in the form of Mother Nature. Yes, the massive flooding in Washington, D.C., took out the IRS headquarters. The IRS vs Mother Nature As you know, Washington, D.C. suffered through some serious flooding problems recently...

IRS Simplifies Reporting Requirements for Corps and Shareholders

On Feb 25, 2020 0 104 52

The IRS is heavily promoting electronic filing options. This promotion has run into problems with corporations because of complex regulations. The IRS is now moving to correct this problem. IRS Simplifies Reporting Requirements for Corps and Shareholders Corporate tax filings are legendary for their complexity, number of forms that must be filed and general burden they create...



Your Well Being And Taxes

On Feb 25, 2020 0 104 52

Few things threaten your well-being like the harassment and anxiety of persistent tax problems. Most people make 3 mistakes that get them in trouble with the IRS. They procrastinate. They attempt to represent themselves...

Tax Changes You Should Know for 2005 Returns

On Feb 25, 2020 0 104 52

Every year, you have to file tax returns and every year there are changes to the tax code. Here are some key changes for 2005 to keep in mind when you prepare returns. Tax Changes You Should Know for 2005 Returns 2005 was a fairly quite year when it came to changes to the tax code...

Tax Issues for Self-Employed Individuals

On Feb 25, 2020 0 104 52

The United States is a nation of entrepreneurs. There are literally tens of millions of self-employed individuals that enjoy pursuing their dream business. Of course, few of you enjoy the paperwork and confusing tax issues that arise from owning your own business...

IRS Warning Taxpayers About New Email Scams

On Feb 25, 2020 0 104 52

If you have an email account, you know about all the scam emails you get. Scammers are getting braver and using the IRS name in their new tactics. IRS Warning Taxpayers About New Email Scams The IRS has begun warning taxpayers that it is seeing a surge in tax scam emails...

Your IRS Tax Appeal Rights

On Feb 25, 2020 0 104 52

Are you in the middle of a disagreement with the IRS? One of the guaranteed rights for all taxpayers is the right to appeal. If you disagree with the IRS about the amount of your tax liability or about proposed collection actions, you have the right to ask the IRS Appeals Office to review your case...

Inheritance taxes explained

On Feb 25, 2020 0 104 52

Reduce inheritance taxes by giving gifts! The inheritance tax is the same thing as the estate tax in the United States, but with a different name depending on the country that you are talking about. The inheritance tax is a tax that is supposed to be levied on the richest people after they die, especially if they have a considerably large estate at that point in time...

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