Taxes Archive

When it comes to claiming dependents on your tax return, many people believe that if you do not claim dependents that you will not get a high refund. Some people also believe that it is …

1986 was a year many amazing things came into being. The movies Platoon, Short Circuit, and Aliens were created, and revolutionized film. The Cold War was ended in 1986, and Mike Tyson became the youngest …

As tax time approaches once again, it is either a sight of relief, or the start of some sleepless nights. If you have filed your taxes and the government accepts the return, you have nothing …

For Americans struggling with their budgets, people reeling from the cost of gasoline, those worried about employment or making the next mortgage payment, January 2013 will not be a good month. In fact the whole …

       The question being asked to us is if the Internet should be a place for taxes as well. The government has taxed just about all areas of our lives. Here is what …

There is a song that can be heard each December that contains the lyrics, “When Christmas Day is here, the most wonderful time of the year”. Would it not be magnificent if the Internal Revenue …

One can claim a tax deduction on a hot tub, if it is medically approved that the hot tub is being used by the individual as part of a recommended treatment plan authorized by their …

Tax deductions can increase a refund amount and decrease the amount that’s owed. Taxpayers are overpaying taxes and losing money each year by overlooking tax deductions they are qualified to claim. Here are some of …

Nobody likes to pay taxes, but one of the most infuriating aspects of the income tax system in America is that it’s incredibly complicated. People at different income levels have to pay at different rates, …

Last year, much confusion surrounded the recovery rebate credit; many errors were made on these returns (for 2008) because of the public’s lack of awareness on how to handle the rebate and/or the rebate credit. Rebate …

Cyber-crime is on the increase across the globe, and it can be a nightmare for anyone who uses computers, when their tax information is accessed. If their sensitive information is hacked into then there are …

Taxing the Unemployed: Until Death Do Us Part Every day I wake up prepared to interact with a world that wants a piece of me. My children need breakfast, rides to school, and groceries in …

Paying tax is one of the hardest things people do. This should however, not sting so much that you forfeit the opportunity to save some money. When filing taxes, most people do not get the …

ResubmitTitle: Donating art for tax purposesArticle: As we approach tax time the search for deductions is an onerous task especially with the Internal Revenue Service and state taxing authorities always decreasing, eliminating, or making the …

The self-employed person has more responsibility than the wage-earner when it comes to taxes. He not only must pay income taxes on the profit from his business, but he must pay self-employment tax as well, …

You just got married, congratulations! The benefits of marriage are great and plentiful, but they don’t necessarily include your tax return. There are many well-known tax benefits to marriage, especially if there is just one …

I have been in the Tax Industry for nearly seven years now. There are many situations that I come across that are a lot less “scary” then the average person seems to believe. I am …

Many people have a dream to be self employed. What they don’t realize is that you have to do much, much more work being self employed. When employees complain about their bosses, they overlook all …

If you just got a huge tax refund, no one would blame you if you felt just a little bit giddy. A big tax refund is one of the most satisfying things possible from a …

Whenever a person files a tax return with the Internal Revenue Service (IRS) it is always a good idea to make a copy of the return and safely store it in case a copy is …

When you inherit property through either a will or other method such as a gift, you will be responsible for the taxes. There are many different tax consequences that result form selling property that you …

U.S. Individual Income Tax payers can qualify for an automatic extension of time to file their tax return by filing IRS Form 4868. Though the form only has nine items to complete, the instructions are …

Could you be one of the many hundreds of thousands of American taxpayers that Uncle Sam owes money to? The Internal Revenue Service (IRS) announced in a press release last week that it owes money …

The words, “IRS audit” audit are two of the most terrifying words in the English language, even though everything having to do with the IRS is synonymous with a headache for most Americans as it …

Tax Relief Tax week is here and it’s “Tax Madness” with trying to find ideal tax help for a cheap cost or an even better free. But with a tight deadline from February 7- April …

The Child Tax Credit is a refundable tax credit that was created by Tax Relief Act of 1997 to help families with children reduces their tax bill.  Most tax credits will reduce tax liability to …

What happens if you don’t file your tax return on time? The IRS once revealed a dirty truth about their April 15th deadline, according to newspaper columnist Cecil Adams. After an investigation he reported that …

Did you just get a huge tax refund? If so, you should be excited, as you now have a lot more additional money to use. It is up to you to make the most of …

Some American politicians have recently come out in favor of a flat tax, citing the complexity of the current tax system. The main benefit of a flat tax is removing filing loopholes and allowing for …

Early withdrawal under 401k will  treated as ordinary income and hence taxable.  Such withdrawal from 401 (k) or other retirements plans attract additional tax up to 10%. Besides  the withdrawn amount also be  included in …