Taxes

263 Articles total.
Using This Years Taxes to Save On Next Years Taxes

On Feb 25, 2020 0 104 52

You just got done paying taxes or filing an extension and are grumpy. If you are smart, you will use this miserable event to save some cash for next year. Using This Years Taxes to Save On Next Years Taxes For most people, preparing and filing taxes is the equivalent of sticking a pin in a body part...

The Ultimate Tax Planning Strategy

On Feb 25, 2020 0 104 52

The taxes that are withheld from paychecks amount to about 25% of your gross pay (including federal tax, state tax, social security tax and medicare tax). But these taxes that are withheld could be working for you as investments if you employ what I call the ultimate tax strategy...

The Purpose of Your Accountant

On Feb 25, 2020 0 104 52

Many people are confused about the purpose of accountants given tax software and so on. To get the biggest benefit for the fees you pay, you need to understand what your accountant can do. The Purpose of Your Accountant An accountant is a licensed profession who has gone to hell and back to gain their designation as a certified public accountant...

Tax Quotes and Jokes for Tax Season

On Feb 25, 2020 0 104 52

Like death, paying taxes is inevitable. In the case of most Americans, tax season is just around the corner. If only paying taxes was so easy. As you begin pulling out those receipts, the eraser and reading plain English tax instructions that Einstein couldn’t figure out, you’re going to need a good laugh...

Need a Copy of Your Tax Return Information?

On Feb 25, 2020 0 104 52

Taxpayers have two easy and convenient options for getting copies of their federal tax return information — tax return transcripts and tax account transcripts — by phone or by mail. A tax return transcript shows most line items from the tax return (Form 1040, 1040A or 1040EZ) as it was originally filed, including any accompanying forms and schedules...

Debunking Common Myths About IRAs

On Feb 25, 2020 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...

Donating Cars To Charity - New Tax Rules

On Feb 25, 2020 0 104 52

On June 3, 2005, the IRS released guidance on charitable deductions for donated vehicles. The American Jobs Creation Act (AJCA) radically changed the amount of the deduction taxpayers can claim for their donated car...

Tax Credit for Going Solar

On Feb 25, 2020 0 104 52

As we sit in the middle of winter, most people can’t believe how high their utility bills are. Going with solar energy can lower your bills and you get a hefty tax credit Solar Tax Credit Solar energy is a clean, renewable energy source...

10 ways to cut your property taxes

On Feb 25, 2020 0 104 52

Property taxes are decided collectively by school boards, town boards, legislators, and councils. The tax rate is set by collating the amount of funds an area needs. This is then divided that by the “total taxable” assessed value of the area...



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

On Feb 25, 2020 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...

Understanding The Tax Implications Of Life Settlements

On Feb 25, 2020 0 104 52

Understanding the tax implications of replacing or selling existing life insurance coverage will help shed some light on the options available to financial advisors and policy holders looking to capitalize on the hidden value in their life insurance plans...

Cost Segregation give apartment owners tax relief

On Feb 25, 2020 0 104 52

Apartment owners can face staggering expenses to maintain apartment communities. The upkeep of even a modest community could involve groundskeeping, unit renovation, and replacements, such as parking lot asphalt and fencing...

What Is A Dependent For Tax Purposes?

On Feb 25, 2020 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...

Tax Credits Available For New Furnace Buyers

On Feb 25, 2020 0 104 52

Not letting hot air get lost up the chimney has its rewards. Many homeowners who are replacing their furnaces are choosing high-efficiency models to help combat rising heating costs. High-efficiency furnaces, however, can be more expensive in the short term than their standard-efficiency counterparts...

2006 List of Tax Scams Released by IRS

On Feb 25, 2020 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...

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