Taxes

263 Articles total.
Appealing taxes for your home - The Basics

On Feb 25, 2020 0 104 52

Property taxes are a substantial expense for Texas homeowners, averaging about $3,600 annually. To reduce this expense, property owners should annually review and consider appealing property taxes. While there is no guarantee that an appeal will be successful, a recent survey conducted by O'Connor & Associates indicates that 70% of property tax appeals are successful...

The Skinny on 1031 Exchange: Maximizing Profits by Minimizing your Tax Liability

On Feb 25, 2020 0 104 52

A 1031 exchange refers to Section 1.1031 of the Internal Revenue Code which was passed in 1990. Normally, when you sell all real and personal property, the tax code requires the payment of the Capital Gains Tax...

Tax Time Tips for Mortgage Holders

On Feb 25, 2020 0 104 52

It's that time of year again when numbers such as 1040, W-2 and INT-1099 become all too familiar to millions of people. One of the benefits of holding a mortgage on your house is the ability to claim certain deductions that can assist you in offsetting some of your tax burden...

Reforming How Businesses Are Taxed

On Feb 25, 2020 0 104 52

Tax reform is a lot like the weather-everyone talks about it but no one seems to do anything about it. Incoming Treasury Secretary Henry Paulson could change that by focusing on the need for corporate tax reform...

The Tax Payer as Gilligan

On Feb 25, 2020 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...

Top 7 Reasons To File Your Income Tax Returns On Time

On Feb 25, 2020 0 104 52

Here are seven reasons for not being late filing your income tax returns. 1. Avoid Late Filing Penalties Late filing can result in substantial and continuing penalties. This is in addition to any interest that is due...

Industry Tax Issue Resolution Program

On Feb 25, 2020 0 104 52

For roughly the last ten years, the internal revenue service has made a fairly major effort to be more taxpayer friendly. The Industry Tax Issue Resolution Program is one such step. Industry Issue Resolution Program After years of living in denial, the IRS has come around to admitting tax forms and procedures may be a mess for certain industries...

Pay Someone Else's Taxes

On Feb 25, 2020 0 104 52

Did you know that you could make money by paying someone else's property taxes? Thirty-one states provide a little-known investment opportunity that might be perfect for you. You could even see an annual interest return from 18% to 50%...

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...



Automobile Tax Expenses

On Feb 25, 2020 0 104 52

If you use a vehicle for conducting business, you can deduct certain automobile tax expenses from your tax bill. This is true even if you use the vehicle for personal and business needs. Automobile Tax Expenses The powers that be have historically written sections into the tax code promoting business activities...

Tax Credits for Toyota Hybrids To Be Cut In Half

On Feb 25, 2020 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...

Adult ADD And Taxes

On Feb 25, 2020 0 104 52

I know you still have about three months until you have to file your U.S. tax forms, but now is a good time to think about taxes. Many adults with ADD would rather scrub the floor with a toothbrush then work on preparing their taxes...

What to Look for in Online Tax Prep and Filing Software

On Feb 25, 2020 0 104 52

You may have a less taxing time this April if you let computer software do much of the hard work filing with the IRS. You won't be alone. According to IRS data, more than 68 million tax returns were filed electronically last year, with more than 17 million taxpayers filing their own returns online...

Checking The Status of Your Tax Refund Online

On Feb 25, 2020 0 104 52

More than a few people are happy to learn they are due a tax refund after filling out their tax returns. If you are one of these people, here is how to check the status of your refund online. Checking The Status of Your Tax Refund Online Before getting into checking your refund status, I feel obligated to mention a few things about tax refunds...

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

On Feb 25, 2020 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...

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