Taxes Archive

Unless one was born on April 15, there are not many folks that get excited when this date makes its appearance on the yearly calendar. For a lot of folks, it signals a day full …

A regressive tax, according to Investopedia, is a tax that places a greater tax percentage burden on the less-wealthy than on the wealthy. An officially regressive tax system is uncommon in real life. However, a …

Every year as the month of April quickly approaches, stress kicks in for many individuals, families and businesses. Many people sense the stress because they are completely unprepared for the deadline to complete their tax …

Personal income tax returns are filed once a year, every year. There are pros and cons to preparing your own personal taxes rather than by another method. Alternate ways to file tax packages include using online …

Why do I pay some one else to prepare my tax return? I’ll tell you why! I always used to do my own taxes. I would sit down on the evening of my W-2 form …

Checking the status of your tax refund is as easy as 1-2-3…4-5. First, though, you’ll need to know what your refund amount should be (as well as your Social Security Number and filing status, which …

The most important thing you need to know about income tax on social security benefits is whether the benefits are taxable. Supplemental security income (SSI) are not taxable. Social security benefits (disability and survivor) may …

A progressive tax is a tax where wealthier people pay a greater percentage of their money, be it income or accumulated wealth. Most nations in the world have a progressive income tax system, including the …

With so much money changing hands, a huge debt in the government, and each state not sure how they are going to make ends meet more and more every year, the real question is: Where …

Every year the U.S. Internal Revenue Service (IRS) warns taxpayers of tax-related scams and reminds people to be careful about who and how they share personal information. Many fraudsters like to prey on people with …

Tax subsidies can be thought of as ‘reliefs’ given to certain sectors or entities in the economy in order to promote a certain pattern of economic behavior which aligns the economy with the government policies. …

An old saying has it that the only two certainties in life are death and taxes, and even paying taxes is surely more pleasurable than the alternative. Most people would prefer to pay as little …

Child tax credit is offered to people from the United Kingdom and those working in the UK from the EEA (European Economic Area). The credit exists to help support and maintain the economic wellbeing of …

If you’re one of the many Americans that have decided to take on owning a home, you probably already know some of the tax benefits, such as that you can deduct your mortgage interest and …

The best source for reliable information on legitimate tax deductions is the agency charged with collecting taxes from the populace: the Internal Revenue Service . The home page will direct you to any number publications …

Rolling over your 401(k) into another 401(K) at another job simply involves filling in some paperwork. It’s pretty simple. If you are leaving your job and/or retiring, the paperwork can be a little more complex. …

Margin interest on brokerage transactions is tax deductible at times, but the rules are complex. Depending on your situation, writing off margin interest on your taxes is possible, but some of the strategies to qualify …

It is good to know so many Helium writers are also financially disciplined. Sufficiently disciplined to increase their withholdings by $200 a month to eliminate the $2,400 refund at the end of the year, in …

It is that time of retirement and a new life begins all over again for the retirees. Now there is no more busy schedule for the person who has been working tirelessly for so many …

Nothing says national debt like offshore tax shelters in places like the medieval town of Zug, Switzerland or Estonia 9%-16%, or Macedonia, 10% or Ireland, 12.5%. These places have low tax rates comparatively speaking, (the …

There is a common misconception that for tax purposes a dependent must be your child, (or at least be a child).  In fact, anyone who fulfills each of the requirements for being a dependent can …

The Internal Revenue Service (IRS) is always on the lookout for those who try to evade the tax laws. One way of apprehending such people or organizations is by auditing the tax returns filed at …

Every spring as the flowers and wildlife begin to emerge from their winter slumber, in the U.S. another entity awakens – tax season! For many, this is the time where taxpayers anxiously await with enthusiasm …

Furthering the education of yourself and your children means making a wonderful investment in the future of your family. The cost of education, however, can be overwhelming for some families, especially when economic recovery is …

Anyone with an inkling for entrepreneurial flair would be lying if they said that they had never aspired to owning their own business bringing in net profit of say £40,000 per  annum. The reality is …

It will destroy the economy by stifling the creation of new jobs – or else it won’t. Both sides of the argument will tell you they know exactly what will happen to economy after a …

Are you one of the many?  You know who you are, the person that waits until the very last moment to file their tax return somehow hoping they will do away with the process before …

The first-time homebuyer tax credit provides tax relief of up to $8,000 for certain taxpayers. For all the details, and for applying it to your own situation, you’ll certainly want to check with the Internal …

Tax payers rely on the set of year end tax planning methods like the deferring income to the next year and increase deductions into the current year. A good example is whereby one holds off …

Any time I hear a president suggest more taxes I cringe. Once you open the tax-gate, regardless of class, it will cost us all something eventually and here is why; as soon as government ups …