Taxes Archive

If you discover that you have filed a Federal tax return with one or more mistakes, you may want to file an amended return to correct the errors. However, consider the following before rushing to file …

There are many factors that come into play in determining how much, if anything, you’ll need to pay in taxes when you sell your home. If the property you sell is a home that you …

Let’s face it, the US Tax code is incredibly complex, often contradicts itself, and is open to interpretation. At the same time, tax attorneys can be very expensive. When the IRS comes calling, how do …

One of the available services on the Internal Revenue Service (IRS) website at www.irs.gov is the opportunity to check on the status of a tax refund that you might be expecting. Don’t be in too …

When anything is “taxed”, a portion of its value is removed and funnelled through government to be used in a different area of the government or the economy. When this value is “removed”, two …

Tax Day is rapidly approaching and you may be on the lookout for a tax preparer for yourself or your business.  How can you ensure that you choose a good tax preparer?  Choosing a good …

Taxable supplies for UK value added tax (VAT) purposes include sales at the standard rate (17.5%, rising to 20% in January 2011), at the reduced rate of 5% and at the zero rate. When supplies …

A tax haven is a country or a semi-independent territory which charges no tax, or very little tax, and therefore attracts money from large corporations or wealthy individuals hoping to escape paying taxes in their …

Tax credits in the UK are a form of financial assistance paid to individuals by the government. Tax credits come in two specific types, child tax credit and working tax credit. Child tax credit is …

The minimum level at which the estate tax kicks in has been raised so much over the years that it now applies to only a tiny fraction of estates.  But this is in flux, as …

Mandatory filing Irrespective of the size of the tax liability and the taxpayer’s ability to cover it, a tax return has to be filed by April 15th. Not filing the mandatory tax return will not …

The IRS has the ability to attach liens to property as a way of securing tax debt; however, when the debt is unpaid, the IRS can also issue a levy. A lien is usually issued …

Property Tax Appraisal Time Again:   Hunting Season Opens on Homeowners It happens every April, May and/or June throughout the U.S. Homeowners become irate that their property taxes continue to sky-rocket!  What Homeowners Can Do Legally To …

A flat tax is a tax which is assessed at the same percentage to all taxpayers (for example, a 10% flat income tax). Flat taxes are a controversial but increasingly popular alternative to traditional progressive tax systems …

Be Prepared for Audit If you are audited by the IRS, it will help if you keep organized records. The purpose of any audit is to verify records. Taxpayers are required by law to maintain …

The January 1 to April 15 time period can be hectic. If you worked the previous year, you are possibly worried about filing a tax return to pay what you owe or get a refund …

It is often possible when struggling with debt to work out an arrangement with one’s creditors where they agree to settle for something less than the full balance plus interest plus fees to which they …

Common tax scams are a problem for countless people in day-to-day life. There are ten major tax scams that should be paid full attention to in order to avoid them from affecting you as an …

While certain members of Congress and President Bush thumb their noses at the electorate in determination to grant amnesty to untold millions of criminals who entered the United States illegally, a patriotic couple in New …

According to www.alcoholalert.com, alcohol related deaths are going down.  However, at the end of 2008, there were still over 13,000 alcohol related fatalities, which is not acceptable. Raising the taxes on alcohol can reduce the …

Your property taxes are based in large part on the government’s assessment of the value of your property.  Thus, in order to reduce your property taxes, you need to convince the government that its assessment …

Are you one who has never filed a tax return online? If not, there is a possibility that you are missing out. On the other hand, you could be doing yourself a favor. Almost everything …

A federal tax identification number or employer identification number (EIN) is a nine digit number required by the Internal Revenue Service (IRS) for all corporations, partnerships, individual proprietors who have employees, and certain other entities. This …

The Internet has opened up a plethora of opportunities for us to be able to efficiently conduct transactions, and this includes the annual dreaded event of filing income taxes. Taxes have always ranged from being …

I work in the legal field, and even though most of our clients are fairly young, we get a lot of questions from them regarding wills, trusts, and estate issues. Recently, estate taxes and inheritance …

Businesses frequently make losses in their early years. Start-up businesses may have to incur expenses long before any earnings arise, leading to trading losses. For tax purposes, these losses may be increased in the UK …

Both houses of Congress passed the American Economic Recovery and Reinvestment Act of 2009. There were a lot of provisions in the bill that will provide funding to education, telecommunications and infrastructure. In the bill, …

A VAT registered business that makes exempt supplies cannot recover VAT input tax paid in respect of expenses that are directly attributable to those supplies. Where a business is making both taxable and exempt supplies, …

Should pastors pay income taxes? Yes they should. All working people should pay income taxes on all taxable income. There seems to be some misunderstanding concerning tax policy and religious clergy and institutions. Read further …

A large number of countries are using tax subsidies as a form of state influence on the economy. Although the amount of subsidies in an economy is difficult to accurately measure, it does appear that …