Taxes Archive

Married Filing Separately Tax Status

Typically, if you are married, filing jointly will be your best option when submitting your tax return to the IRS. However, taxpayers married at the end of the year can elect to file separately and …

Best Online Tax Services

Income tax time is just around the corner. Those W-2s will be hitting the mailboxes (hopefully) in the next few weeks so that everyone can find out whether they need to write a check or …

When to Hire a Tax Attorney

Knowing why tax attorneys are used helps to determine when one should utilize their services. Tax attorneys specialize in tax laws, which are inherently diverse, dynamic and detailed . There are even some specializations within …

Tax Strategies for use in Estate Planning

Tax laws change frequently, and the estate tax laws have been particularly volatile over the last decade. Completely phased out in 2010, the estate tax was supposed to return in 2011, but recent negotiations have perhaps …

Planning for Obamas Tax changes

Tax Credits Raise Hopes For A New Life For Many Americans The temporary tax relief offered by President Obama’s stimulus package has raised hope for many Americans. College students and their parents are especially thrilled …

Due Date Tax Return Form 4868 6 Month

What to do if you can’t file your taxes on time? Non filing of tax returns attracts penalties by both federal and state authorities. If anybody failed to file return without a reasonable cause can …

A History of Income Tax in the United States

As you scramble for receipts and W2’s and records of charitable donations each year, surely you’ve at least once blurted out in frustration, “Who was the son-of-a-gun who invented income taxes anyhow?” No one person …

How getting Married Affects your Taxes

After marriage, married couples can choose to file a joint income tax return. They can also choose to continue to file separately, even though they are married, by declaring that they are “married, filing separately.” …

Most Common Overlooked Tax Deductions

Do you prepare your own taxes each April in hopes of saving a couple of bucks on tax preparation?  While doing your own taxes will save you money in tax preparation; it could also cost …

The Tax Consequences of Foreclosure

Homeowners who have lost their home to foreclosure may be in for an unpleasant surprise. Many think that just because the bank has foreclosed on their home that their financial woes are behind them and …

Little known Tax Reductions

When doing your taxes there are certain “little” deductions that are good to be aware of.  Many people will disregard the little tax deductions but if you want to be aware of what can be deducted; keep …

How getting Divorced Affects your Taxes

Getting divorced is one of many life events that has a direct effect on your taxes.  Depending upon your situation, the effects may be very good, or very bad.  In divorce, some people may wind up …

Payroll Giving Scheme

The payroll giving scheme in the UK enables employees to donate to charities of their choice through direct deduction of the donations from the employee’s wages. This enables tax relief to be given immediately through …

Inheritance Tax Gifts with Reservation

Inheritance tax in the UK is charged on certain transfers of value during an individual’s lifetime and on the assets in a person’s estate at death. The rate of inheritance tax payable where a transfer …

How do i Complete a Vat Reutrn

When a UK business uses the standard VAT scheme it has to complete a VAT Return at the end of every VAT period, which is usually 3 months. The VAT Return informs HM Revenue & …

How to Claim Charitable Tax Deduction

From your local non-profit police organization to the National Leukemia Foundation, there are so many organizations that accept donations for a good cause. Many people make charitable donations out of honest desire to help others, …

Inheritance Tax Domicile

The concept of domicile is important in determining liability to the inheritance tax in the UK. If a person is domiciled in the UK the inheritance tax can apply to that person’s assets wherever they …

Hr Block Business Areas Overview

H&R Block was founded by brothers Henry W. Block and Richard A. Block in 1955. Since then the company has become the world’s largest tax preparation business. It has retail offices in the U.S, Canada, …

Inheritance Tax Excluded Property

UK inheritance tax is charged on lifetime transfers of assets and on the estates of deceased persons. The rate of tax is 20% for lifetime transfers and 40% for assets on death, subject to a …

Guide to Tax Return Forms

Tax return forms can be intimidating and confusing. Using a tax guide can provide taxpayers a better understanding as to which form or forms should be used as well as knowing what information is needed to complete …