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Preview: Finance: Taxes Articles from EzineArticles.com

Finance:Taxes Articles from EzineArticles.com





Published: Thu, 29 Sep 2016 09:08:37 -0500

 



Donating Time May Cut Your Tax Bill

Thu, 22 Sep 2016 07:37:57 -0500

For many people, volunteerism is about more than simply doing something nice - it's about enriching peoples' lives and making the communities where we live and work a better place. But, did you know your stewardship and goodwill may also help you reduce your taxes? Gifts given to charity and other expenses related to volunteering may be tax deductible.



5 Services Offered By Financial Services Companies to Help Retirees

Thu, 18 Aug 2016 10:02:49 -0500

A lot of financial services companies are highly sought after by people who wish to retire and spend the rest of their days with comfort. Retirement planning at an early age can help you to see amazing returns on your investments. With early planning, you can ensure that all the assets you accumulate over the period of earning can be distributed properly during the lifetime as well as afterwards. If you dream of retiring to a life of luxury and leisure, these companies can help you achieve that dream with the following 5 services.



Tax Accountants: How to Choose the Right One

Thu, 28 Jul 2016 09:13:41 -0500

When tax season rolls around, many businesses recall that they wanted to hire a new accountant, and new businesses are often hit with the sudden realization that they are desperate need of some assistance with their finances. Dealing with business finances on your own can be a nightmare, and can result in businesses missing out on important deductions that could save them a lot of money in the long run.



Understanding Your Tax Filing Requirements

Tue, 19 Jul 2016 13:35:27 -0500

Often, tax payers run into tax debt issues because they don't understand filing requirements or how a lack of compliance could prove to be costly due to penalties and interest added to existing liabilities. The worst thing a tax payer can do is ignore the obligation to file. The IRS has ways of finding out exactly what you earned during a tax year.



The Difference Between Payroll Tax and Estimated Taxes

Tue, 19 Jul 2016 13:33:02 -0500

Often tax payers find themselves owing the IRS even after they've paid taxes throughout the year. This has proven to be very confusing, as well as frustrating for many who already feel they pay way too much in taxes. In order to gain control over this tax issue, you first must understand what these taxes constitute and how they are calculated.



Guidelines on How to File a Tax Extension

Thu, 16 Jun 2016 11:40:14 -0500

Tax extension is a tax provision provided by the IRS to allow the taxpayers to extend the deadline for filing tax returns from April 15 to October 15 without any penalties. This article will list out 5 simple steps to help you understand how to file a tax extension.



Increasing The After Tax Income Of Your Early Education Company

Fri, 10 Jun 2016 14:04:37 -0500

Are you just sending your numbers to your CPA firm and waiting to get your tax news? I'm involved in conversations with the owners and executives of early education companies most every day. Most every day I hear that these smart, successful people are not telling their CPAs about expenses that can be written-off on their company tax returns



More Tax Tips For Self-Published Authors

Thu, 09 Jun 2016 09:45:05 -0500

Most self-published authors are probably more comfortable writing books than publishing them. As publication approaches, however, your principal business activity changes from writing to publishing, and your tax considerations shift too.



Top 3 Tax Issues for Truckers

Wed, 08 Jun 2016 10:02:11 -0500

Every tax season thousands of truck drivers leave hundreds of thousands of dollars in tax deductions on the table. This is due in large part to inadequate planning and poor bookkeeping. In addition, many tax professionals do a poor job at properly informing truckers of the many different tax breaks available to them.



Is It Time To Hire An Accountant To Prepare Your Tax Returns?

Mon, 06 Jun 2016 14:54:05 -0500

Are you really saving money be preparing your own tax returns or is it costing you money? We provide you with 5 indications that it may be time to hire an accounts to prepare your tax returns. We also provide you with some benefits of using an accountant to prepare your tax returns.



Tax Preparation & Refunds

Tue, 24 May 2016 10:32:55 -0500

We - or more often our CPAs - are working on our individual or business tax preparation strategies year-round. However, now that tax day has passed, those getting a refund are plotting how to spend it.



Avoiding Penalties: What to Do If Taxes Can't Be Filed on Time

Fri, 08 Apr 2016 14:41:27 -0500

Paying taxes is a duty to all who live in the United States. If there is an expected or unexpected delay in filing a return, it is very important to know what to do next.



Tax Preparation 101: Do It Yourself or Go With a Pro?

Fri, 08 Apr 2016 06:16:55 -0500

Handling your own tax preparation can seem like an easy way to save a few bucks. Word to the wise: It's often a decision that costs you when your refund comes in.



Tax Tips For The Self-Published Author

Tue, 05 Apr 2016 08:42:07 -0500

If you want to try your hand at the great American novel, a poetry chapbook, a cookbook or a guide to better management techniques, you may want to venture into the world of self-publishing. If you do, you will confront all sorts of complexity, not the least of which are the many tax issues to consider.



Avoid 'Obamacare' Marketplace Surprises

Tue, 05 Apr 2016 08:41:34 -0500

The Affordable Care Act created a variety of tax consequences for Americans, but one that was little discussed until recently was the possibility of having to repay federal subsidies for health insurance. For many taxpayers, this liability will come as a shock, as will the amount due.



Why A Tax Professional Is Your Best Bet In A Pinch

Thu, 31 Mar 2016 13:34:22 -0500

Do you have serious tax issues? Understanding what tools the IRS has at their disposal can help you to plan how to resolve your situation. Read this to see why a professional tax service necessary when you have an uphill battle.



How To Apply For A Duplicate PAN Card

Tue, 15 Mar 2016 08:34:43 -0500

A PAN card holds the same value for Indians as the Social Security Card for US citizens. PAN translates to the Permanent Account Number issued by the Income Tax Department of India under the supervision of the Central Board of Direct Taxes. This identification number is a 10 digit string of alphanumeric characters. Every registered citizen is given a unique number with his or her personal details recorded against it. Unlike a Voter's ID, this identification number remains constant even if you change your place of residence. The card also has a photograph of the holder.



Savvy Approaches to Make the Most of Your Taxes

Wed, 09 Mar 2016 09:13:37 -0600

2016 is already off to a quick start and with April 15th getting closer, it's that time of year again to think about your taxes. We've all seen the countless television ads but have you actually followed through and filed your taxes yet?



5 Tax Tips Every Small Business Owner Should Know

Thu, 03 Mar 2016 06:54:28 -0600

Our firm does not do taxes, even though I did them for 12 years. When I began my practice that was a service I simply did not want to offer.



Make the Most of Your Tax Refund

Thu, 25 Feb 2016 10:23:58 -0600

Tax season is upon us and you are probably waiting for your refund check to come in the mail. Instead of taking a vacation or buying that new TV, think about doing something different with the money you get back from the government this year. Some possibilities are discussed in this article.



Tax Refund - How To Get Your Biggest Tax Refund

Tue, 16 Feb 2016 06:35:52 -0600

Most professionals dread filing income taxes. Owning a small home based business can temporarily offset the taxable income.



IRS Payment Plans: Why Being Current With Estimated Tax Payments Is So Important

Fri, 05 Feb 2016 11:11:47 -0600

You have been told to be current on your filing and payments of federal taxes by an IRS revenue officer. So what does it mean to be current on IRS estimated tax payments? How important is this to get any tax resolution from the IRS?



3 Tips to Avoid Being a Target

Wed, 03 Feb 2016 09:33:32 -0600

Tax season is quickly approaching, and that means one thing: the return of scammers determined on seizing your wealth. Follow these tips to avoid being a target.



How Will Your New Business Be Treated For Tax Purposes?

Wed, 03 Feb 2016 09:03:13 -0600

New business owners are frequently confused about how their businesses will be treated for income tax purposes by the IRS. This article contains a brief introduction to the taxation of the most common types of business entities.



Tax Identity Theft Awareness

Wed, 27 Jan 2016 15:17:27 -0600

The biggest challenge in handling it is the fact that social security numbers of people can be obtained from various sources which an individual may not have control over. Such sources may include hospitals, nursing homes and schools.



Are You Eligible To Deduct Work Expenses As An Employee?

Mon, 25 Jan 2016 12:28:56 -0600

The typical answer to whether you can deduct work related expenses as an employee is "No, you have to be a business to do that." Yes, there are deductions for union dues or pension contributions that affect all workers, but there are also deductions for employees for certain types of expenses depending on what you do for a living. The most common occupations for these types of deductions are commission salespeople, people working at a home office, tradespersons, long-haul transport employees, clergy, artists and musicians. Almost any occupation can qualify depending on the work arrangement you have with your employer.



Tax Returns May Experience Delays Due to Increased Cases of Tax Fraud

Fri, 22 Jan 2016 14:00:40 -0600

You will soon be filling your tax payer returns, if you already haven't. However, most taxpayers will have to wait longer for their tax refund cheques thanks to the improved IRS fraud theft filters.



Tax Fraud and Identity Theft Checks Will Delay Tax Returns

Thu, 21 Jan 2016 13:37:25 -0600

Were you one of the hundreds of thousands of US citizens that were made to wait up to 18 weeks to receive your tax return? Well if so then there may be even more of a wait for taxpayers in 2016. No matter what state you live in, tax fraud and identity theft is rampant and as a result the IRS has cracked down on fraudulent claims. That is why whether you live in California or North Dakota, you may be made to wait for several weeks to see both your state and federal income tax returns.



Why Your Tax Refunds May Be Delayed This Year

Thu, 21 Jan 2016 12:59:32 -0600

Tax refunds are a return of the excess amounts of income tax paid by a taxpayer to the state or federal government in a financial or calendar year. In the United States in particular, they are often received in the form of US savings bonds, personal checks, or direct bank deposits according to the taxpayers' preferences.



Personal Tax Filing and What's New in 2016

Mon, 18 Jan 2016 06:26:59 -0600

Congress makes last minute changes to the tax code every year, forcing the Internal Revenue Service to update taxpayer instructions at the last minute. The tax rule changes in this article can help anyone filing a personal tax return increase their potential refund.



When Is the Best Time To Start Your Taxes?

Wed, 13 Jan 2016 07:24:40 -0600

April 15th is a deadline no one likes to think about. Many put off doing their taxes for fear of having to pay, but is that the best idea?



Foreign Earned Income Inclusion - Understanding Earned Income For US Tax Payers

Thu, 07 Jan 2016 07:41:02 -0600

Many foreign workers have problems when it comes to filing their taxes especially if they derived their income in a variety of ways. US workers who are employed in a foreign country will find this overview helpful in understanding the basics of income inclusion and what to include in their income tax return.



Tax Preparation Tips for Small Business Owners

Tue, 29 Dec 2015 15:55:11 -0600

Are you a small business owner? Tax preparation professionals can help you save money every April with these deductions.



Double Irish and Dutch Sandwich - Understanding Tax Havens

Wed, 16 Dec 2015 08:00:58 -0600

Ireland, a country known for U2 and Guinness, is more known in the business world as a tax haven. Ireland is in the same group as Luxembourg and Bermuda; countries with no physical resources as well as human capital. However they leverage their business regulation in order to attract companies by offering a business friendly environment and low taxation on companies incorporated.



Wide Ranging Implications of the Foreign Account Tax Compliance Act (FATCA)

Thu, 10 Dec 2015 14:39:19 -0600

This article provides a basic overview and implication of a new U.S Tax Law which is being implement across the globe. The Foreign Account Tax Compliance Act (FATCA) is a United Stated (US) Federal law which was introduced as a part of a Hiring Incentives to Restore Employment (HIRE) Act in 2010 to increase tax transparency and tax revenues. The regulation requires all Financial Institutions (FI) (banks, funds, brokers, custodians, asset managers, insurers, etc.,) outside of the US to search their records for any listed US persons and report their assets and identities to the US Treasury.



Taxes And Taxation

Fri, 04 Dec 2015 07:35:29 -0600

From the cradle to the cemetery, every citizen pays taxes of one kind or another. Whether the service is rendered or not, tax has to be paid.



Reduce Your Taxes With These Tips

Thu, 03 Dec 2015 07:45:23 -0600

What is your 2015 income tax bill? Do you owe? Or are you expecting a refund? You don't need to wait until April 15th to find out.



Reviving A Bad Idea

Thu, 12 Nov 2015 10:21:23 -0600

Hiring private firms to collect tax debts has failed twice before. The House wants to try it again.



How Domestic Oil and Gas Investing Could Help You Save Taxes This Year

Mon, 09 Nov 2015 13:20:04 -0600

The Tax Act of 1986 offers tax incentives many taxpayers overlook. The Act contains a unique provision that allows generous deductions against active income. Bottom line, money invested in America can help you save on taxes while creating significant upside potential as an investment.



How Globalization Has Affected Tax Policy

Fri, 06 Nov 2015 10:27:14 -0600

Globalization has been an increasing trend for businesses looking to expand. By growing into foreign markets, a company expects to increase revenue and earnings to stockholders over the long run. As this has happened, globalization has made taxation more complex than it had already been.



Why Hire An Accountant To Manage Your Taxes?

Wed, 04 Nov 2015 14:45:19 -0600

There are many instances in life in which we are faced with the choice of attempting to do something ourselves, or seeking the help of a professional. Now while the decision might be made easier when considering whether to attempt a spot of home DIY yourself - as after all, a wonky shelf or crooked door are not necessarily costly disasters - the decision becomes a little trickier when contemplating filing your tax returns. Completing and filing them yourself, naturally means avoiding paying for the services of a tax accountant, but if submitted late or incorrectly, the cost to you, may well outweigh that of an accountant.



Now Is the Time to Think About Your Next Tax Return

Tue, 03 Nov 2015 15:53:20 -0600

Your 2015 tax return isn't due until April of 2016, but now is the time to consider your options for tax planning. Many of the tax-savings moves you can make for your 2015 return need to occur before the end of the year. Here are answers to questions you may have about tax planning strategies in the weeks ahead.



Are You Managing Your Inventory for Maximum Benefit?

Mon, 02 Nov 2015 08:11:52 -0600

For those businesses who must maintain and manage inventory, it can be a daunting task. Inventory is a process where you purchase goods at cost for the purpose of sales. The complexity comes into how you measure the use of the inventory. For example, consumption in a business, e.g. restaurants; supplies in hair salons, manufacturing and a host of other areas will require careful documentation and compliance to IRS rules and regulations,



1099-C Cancellation Of Debt And The Forms And Rules You Need To Know About

Fri, 09 Oct 2015 07:09:32 -0500

What is the 1099-C Cancellation Of Debt? Are you a lender and do you have a problem with regards to 1099-C Cancellation Of Debt? The 1099-C Cancellation of Debt is a legal document arranged by the IRS in regards to forgiving and cancelling debt. It is available for the cancellation of $600 or more in bad debts. It is supposed to be issued by borrowers through the IRS for the cancellation of a bad debt.



Five Easy Tips for Tax Preparation

Thu, 17 Sep 2015 12:26:51 -0500

Preparing your taxes probably isn't on the top of your list of fun things to do this year. Nonetheless, there are many ways to lighten your load and make the process of tax preparation less stressful.



Cyprus Tax Laws - Made for Smart Russians?

Tue, 15 Sep 2015 11:40:15 -0500

"Welcome to Paradise" - 'Why open a business or live in Cyprus' - there are more reasons that you would initially think as the Cyprus government takes positive action in their fight back to the top. Tax breaks for Non Doms! The latest round of changes in the laws gives some all round positives, particularly for foreigners considering moving to Cyprus. The local economy will, of course benefit as more money starts to circulate.



Keys to Getting the Most Tax Savings From Taking Care of Your Parents or Spouse

Tue, 15 Sep 2015 10:30:46 -0500

Most of our wealth management clients are retired or just about to retire. When we have reviewed their past tax returns, we have noticed some glaring deficiencies in NOT taking the amount allowable in medical deductions, especially when taking care of their parents. Here is a general overview of Medical Expense Deductions with the most overlooked deductions that can save you a large amount of money.



An Unprofitable Identity Theft

Wed, 09 Sep 2015 09:20:33 -0500

Someone tried to steal an identity and a tax refund. But things did not go according to plan.



Audit Services Pros Share Tips For Handling Tax Debt

Tue, 01 Sep 2015 15:04:17 -0500

Need help dealing with the IRS? The right audit services firm may be able to help you negotiate a manageable settlement on your tax debt.



Potential Financial Concerns for the New Small Business Owner and How Local Tax Consultants Can Help

Tue, 01 Sep 2015 15:03:33 -0500

Anyone who is launching a small business may have questions about gaining financial backing. The potential owner may choose to seek guidance from a local tax consultation on how to manage the licensing and tax classifications for the business.



How to Reduce Your Taxes, Save Money, and Increase Your Net Worth Legally!

Tue, 01 Sep 2015 09:45:39 -0500

Have you ever wondered how you could reduce your taxes and keep more of your money? Well believe it or not, the government actually gives you an option to do just that. In fact, the IRS really wants you save money on your taxes if you believe that! (OK, well maybe that's not the IRS' first mandate, but they do have that written into their code).



When Is a Roth Conversion Strategy Right for You?

Mon, 31 Aug 2015 13:16:01 -0500

One of the biggest obstacles in a successful retirement is the ongoing tax obligations year after year. Many people building for their retirement will payoff their mortgage because they don't want the monthly obligation. What we can pay off your taxes in the same manner? Can you imagine living most of your retirement without paying income taxes? The IRS has given us this opportunity but with many specific rules to follow. If you are considering this strategy, it is monumentally important to align yourself with advisers who are trained and have experience for this specific strategy.



When Two Equals Two, Not One

Fri, 21 Aug 2015 09:31:08 -0500

Unmarried co-owners of a home can get twice the interest deduction available to married couples, at least in the Ninth Circuit. Now that the courts have spoken, the mortgage deduction will remain one area where those who haven't tied the knot stand to benefit.



Deductible Auto Expenses

Thu, 20 Aug 2015 08:18:08 -0500

There are tax breaks available for several uses of your personal automobile. The following article will outline the tax deductions available.



Basics of Offsetting the Kaptur-Sanders Bill

Wed, 12 Aug 2015 08:50:57 -0500

Learn more about the proposed legislation in Washington that could take aim at 1031 exchanges. Industry experts are raising concerns and lobbying.



Banks Can Help Consumers to Maximize Their Tax Savings

Tue, 11 Aug 2015 06:42:12 -0500

Banks can help consumers reduce their tax burdens by helping them open IRAs or other retirement accounts. This is a great way to get tax deductions.



Your Next Road Hazard Could Be A Tax Deadline

Mon, 10 Aug 2015 09:28:01 -0500

The next time you speed down the highway thinking of how late you are, you may want to take a moment to wonder whether your tax return was late too. The latest highway bill creates some potholes for unwary taxpayers.



Choosing the Right Tax Preparer

Thu, 06 Aug 2015 10:11:25 -0500

When choosing a tax preparer you must be careful to select someone who is ethical and knowledgeable in the area of taxation. The following article provides some insight as to what to look for.



Myths About 1031 Exchanges, Part 1

Mon, 03 Aug 2015 12:59:33 -0500

Learn more about the most common myths surrounding 1031 exchanges. Avoid these misconceptions if you are interested in facilitating an exchange.



Divorce and Taxes Part 2

Thu, 30 Jul 2015 13:21:02 -0500

There are special rules regarding claims for exemptions and certain tax credits for children of divorced or separated parents. The following is a summary of those rules.



Basic Tax Saving Tips for New Business Owners

Wed, 29 Jul 2015 13:03:56 -0500

Congratulations on your business! Here's to its success! You must be celebrating right now.



Seven Simple Strategies to Lower Your Taxes

Tue, 28 Jul 2015 14:25:41 -0500

You cannot avoid tax, but you can minimise the effect they have on your finances. Unlike convoluted tax shelters and offshore bank accounts, there are legal ways to reduce your taxes without risking penalties. Here are seven easy to use strategies that are most likely to help you lower your tax.



Divorce And Taxes Part 1

Tue, 28 Jul 2015 11:08:30 -0500

Divorce is never easy. No matter the reason there are almost always emotional and financial implications. Included in those are several tax considerations that must be addressed. My next couple of articles will outline some of the tax situations that arise as the result of divorce. This article will provide an overview of alimony and support payments.



How to Choose a Good Bookkeeper

Fri, 17 Jul 2015 14:17:55 -0500

An expert bookkeeper/accountant makes significant difference to the fundamental benefit of your business as well as its success.It's in best interests of your business to have a capable and expert professional bookkeeper handling the most important part of your business i.e. your FINANCES.Tax planning is a beneficial asset for anyone regardless of whether small or big business and even for the individual tax payers.With the right tax advisor you remain at peace and become familiar with the fair ways to meet all your needs in the most efficient way.



Directors Beware

Fri, 17 Jul 2015 13:20:28 -0500

The ATO has stepped up its enforcement activities and has stated that it is now taking firmer action approach to debt collection. This action appears to be focused on outstanding company tax debts. The corporate veil was long ago pierced. The ATO's powers now take that to the next level. Directors, past, present and new can be held personally liable for unpaid company debts including Pay as You Go Withholding (PAYGW) and Superannuation Guarantee Charge (SGC).



Most Common Terminology Used in 1031 Exchanges

Thu, 16 Jul 2015 16:02:33 -0500

Learn more about 1031 exchanges. In this article, some of the most common terms are explored.



How to Initiate a 1031 Exchange

Thu, 16 Jul 2015 16:02:03 -0500

Learn more about how to actually start a 1031 exchange. These are used to defer capital gains taxes.



How to Fetch Reduction on Tax With the Help of a Tax Advocate

Wed, 15 Jul 2015 12:44:39 -0500

Filing income tax is a huge responsibility of every citizen and must be done with a lot of caution. One must be wary of investments and plan ahead so as to make the most out of the tax exemptions available. However, considering the busy schedule of many, people generally give it a miss and do not focus on investments till the time of filing the taxes.



How To Calculate Sales Tax In Your Head

Tue, 14 Jul 2015 09:46:50 -0500

If you ever go shopping and find yourself wanting to know how to quickly and accurately estimate the sales tax you'll be paying on a purchase, here's how. You don't need to be an Einstein or a math genius to do so. Simply follow these steps, practice a few times, and you'll be on your way to becoming a master of calculating sales tax in your head.



IRS Makes Executors Ask, "Mother May I?"

Thu, 09 Jul 2015 08:52:39 -0500

The IRS no longer automatically issues closing letters to let executors settle estates. It has not said how to request one.



Four Lesser-Known Strategies for 1031 Exchanges

Tue, 07 Jul 2015 07:24:49 -0500

Learn more about the IRS tax deferral using a 1031 exchange. These alternatives can help you plan ahead.



1031 Exchanges, Deferrals, and State and Local Taxes

Tue, 07 Jul 2015 07:24:27 -0500

Learn more about local and state taxes as they apply to 1031 exchanges. Get advice from a tax professional before you engage in a transaction.



Tax Saving Options Under Section 80C

Thu, 02 Jul 2015 09:41:57 -0500

Tax planning is a very important aspect of Financial Planning and we have to approach it keeping in mind the bigger picture. There are various sections under the Income Tax Act which we can use to our advantage in order to save on our outgo of tax. A lot of us are not aware of the options and invest without really checking if our existing investments or outflow have already taken care of the maximum limit we can avail of under this section.



Systemic Flaw in Washington State's Regressive Tax Revenue Acquisition Process

Wed, 01 Jul 2015 14:39:53 -0500

There is a systemic flaw in the process of Washington State's regressive tax revenue acquisition system. Half of all state tax revenue comes from sales tax. The sales tax system is not fair, stable or adequate. Still, the electorate is in the dark about sources of tax revenue for Washington State. Every governor of the last half of the twentieth century, except one, wanted to implement a State Income Tax and end the Sales Tax debate.



A Tax Attorney Can Save Individuals And Businesses Much Hassle

Fri, 26 Jun 2015 06:32:34 -0500

Dealing with the IRS is a complicated process. If you're worried about your return, hiring a tax attorney is your best bet.



What Actions Can Extend the IRS Statute of Limitations on Collections?

Wed, 24 Jun 2015 14:08:35 -0500

The length of time the IRS can legally collect a tax debt after it has been assessed is called the Collections Statute Expiration Date, or CSED for short. In general terms, the CSED or the time limit for the IRS on an assessed tax debt is 10 years.



Tax Doesn't Have to Be Taxing

Thu, 11 Jun 2015 14:13:52 -0500

As minimum wages rise in many states and employers look to increase benefits without raising salaries, many car wash operators are considering 401(k) and health insurance plans for their management employees. But did you know that government officials now expect 401(k) plan sponsors (i.e., the employer) to conduct periodic due diligence reviews?



5 Ways to Pay the Least Self Employment Tax While Being Legally Compliant

Wed, 10 Jun 2015 15:16:31 -0500

America has always been a land of self-made men and women, however, every April 15, each and every of these self employed must undertake a burden known as the Self Employment Tax. A self employed, other than paying his/her federal, state and local income tax is bound to pay a separate 15.3% tax that covers Medicare and Social security. While employees split their rate with their employers, the entrepreneur, in the eyes of IRS is viewed as both an employee and an employer.



Tax Concepts and Considerations of Municipal Bonds

Wed, 10 Jun 2015 09:01:01 -0500

Interest received from a municipal bond is tax-exempt. There are several tax concepts to be aware of. Municipal bonds have pros and cons.



Three IRS Resolutions a Tax Attorney Can Provide

Fri, 05 Jun 2015 06:36:08 -0500

Tax-related issues can be complicated. Here are three situations in which an experienced tax attorney may be able to find advantageous resolutions.



Understanding Back Taxes And Tax Debt

Wed, 03 Jun 2015 14:50:51 -0500

Back taxes refer to taxes not paid on time. Tax debt is the money you owe to the Internal Revenue Service or the IRS on the unpaid taxes.



Foreign Account Reporting Rules

Wed, 03 Jun 2015 07:56:22 -0500

This article is focused on US citizens having dealings or personal connections to foreign countries and that have foreign bank, investment or any other financial accounts or whose signature authority is required for these bank or investments accounts maintained overseas. The regulations require the government to be notified when the value of foreign financial accounts exceed thresholds.



Taxed Out

Mon, 01 Jun 2015 05:51:29 -0500

The middle class is being taxed unfairly. The fairest tax is a flat tax.



LPG Subsidies: Pros and Cons

Wed, 13 May 2015 11:51:25 -0500

Recently some of us were invited by IOC on SMS to be a part of the nation building process by giving up our subsidies on LPG. This follows the appeal of our PM to the affluent to do the same. A bold request in a highly price sensitive country and on an even more politically sensitive subject.



Expat Tax Preparation: When and Where to File?

Wed, 13 May 2015 10:19:12 -0500

All US citizens whether residing in the country or in some alien nation need to file U.S. income tax as per the rules of US government, aka Expatriate Tax Return. The rules for filing income tax do not differ much in case you are an expat. Any income you have in the whole wide world is subject to US income tax and will need to be accounted for during your Expat Tax Preparation.



Do Not Try To Avoid Tax Filing Because It Might Hurt You At The End

Fri, 08 May 2015 07:45:30 -0500

People are often afraid of the term tax. When the days come for filing tax returns they are even more scared. However, if seen closely people would observe that tax returns are actually for their own benefit. Most people working with registered companies will have their income tax deducted right from their salaries even before they get the money in their account.



Have a Sales or Use Tax Issue? You May Want to Consider Requesting a Written Ruling From the State

Thu, 30 Apr 2015 11:31:41 -0500

This article illustrates how a business or individual that has a serious sales or use tax issue may want to consider writing a letter to a state's Department of Revenue requesting a formal "ruling" on how the transaction would be treated (taxable or not taxable) by the state. These types of letters are often referred to as ruling requests or private ruling letters and are used by businesses and individuals to help ensure they are correctly administering sales and use tax when it comes to an exempt sales, a group of customers or potential business purchase.



Hollowing Out The IRS

Wed, 15 Apr 2015 09:51:06 -0500

To quote a memorable movie scene, 'Get bent, tax man!' But don't get broken.



Homeownership and Potential Tax Benefits

Thu, 09 Apr 2015 07:25:13 -0500

This article reviews the tax benefits of owning a home. There are numerous deductions that are available to homeowners, some are seldom discussed and used.



Introduction To Tax Laws

Tue, 07 Apr 2015 12:57:17 -0500

This article discusses different components of Income Tax Law. Before we discuss components, it is important to know the difference between an act and a law. So, let me ask you.



How To Benefit From Tax Diversification

Tue, 07 Apr 2015 05:53:21 -0500

Tax diversification is integral to a well-structured retirement plan. By holding assets in accounts with different tax treatments, such as traditional IRAs, Roth accounts and taxable investments, you can balance current and future tax benefits and gain flexibility to deal with unexpected circumstances.



Boosting the Tax Benefits of Charitable Giving

Mon, 06 Apr 2015 08:02:01 -0500

From a tax standpoint, not all charitable gifts are created equal. A tax-efficient giving strategy can help you maximize the impact of your donations to your favorite charities and take advantage of tax savings.



What Is Your (Filing) Status? A Deep Dive Into Divorce and Taxes

Thu, 26 Mar 2015 13:56:12 -0500

Many women who are divorcing don't understand the implications of choosing a filing status. This article explains the basics and encourages women to consult an expert if they have concerns.



Federal Tax Liens Vs Credit Report

Fri, 20 Mar 2015 15:54:25 -0500

Nobody likes to pay taxes. April 15 comes around too fast every year, and people have to come up with money to pay Uncle Sam. Some people just can't come up with the money; others simply won't come up with the money. Either way, if you don't pay your taxes the government will put a lien on your property until the debt is paid in full. This tax lien will be attached to all of your assets; property, vehicles, stocks and bonds. It will restrict your chances of getting credit, and if you file for bankruptcy there is a good chance the lien will continue after the bankruptcy. Those are some good reasons to avoid a lien and pay your taxes on time.



Is Paying Taxes IMPORTANT When Starting an Online Business? KNOW Why You Need to Pay Your Taxes

Fri, 20 Mar 2015 07:07:54 -0500

Do you think that you will never have to pay your taxes when you are starting an online based business? Or do you want to start this business because you don't want to pay taxes? If these questions sound familiar, then you are reading the right article. You are going to learn why you need to pay your taxes in this article.



How Do You Know If Your Domicile Has Changed?

Tue, 10 Mar 2015 13:27:32 -0500

While home is said to be where the heart is, that definition is unlikely to pass muster with state and local tax authorities. Instead, it is crucial to understand the concept of domicile and how to change it when necessary.



How to Deal With IRS Wage Garnishments

Tue, 10 Mar 2015 10:41:08 -0500

If the IRS has sent you a wage garnishment notice because of back tax debt, it can be very stressful, not to mention embarrassing. After all, you don't want your boss-or even just the H.R. department-to know you're behind on taxes, right? Well, unfortunately, your employer does find out about a wage garnishment, mainly because the IRS sends specific instructions to your employer that they must follow in order to determine the garnishment amount to be withheld from your paycheck. The best thing you can do is to take steps to avoid wage garnishment in the first place, or at least try to deal with the issue head on. Just don't ignore the problem!



Tax Mistakes Every Business Owner Makes

Fri, 06 Mar 2015 10:07:10 -0600

Every person in the world feels that they do not have to do right by the tax man. So why would you think someone running a business would be any different?



Requirements From a Business Tax Accountant

Thu, 05 Mar 2015 09:33:17 -0600

A business tax accountant is required for several tasks. The most important task among them is to fill the tax returns. As your business enters a new year, you would require the service of him. He knows all the legal ways that would reduce your taxes.



Tax Treatment of Funding in a Corporation

Mon, 02 Mar 2015 11:43:22 -0600

The C Corporation is a legal entity most small business owners overlook. Depending on your personal circumstance it might be the most tax beneficial entity for you.