Taxes Archive

Each time you receive a pay stub, you may notice that the amount you earn, and the amount you actually get paid are different. This is because every month, a percent of your paycheck goes …

Tax reform of one kind or another is inevitable. As previous tax laws expire and the federal government’s budget is reorganized, policy makers are faced with tough choices. For example, when tax policies such as …

Once in a while, taxpayers may have certain issues related to their taxes and may have to deal with the Internal Revenue Service (IRS) in order to settle such issues favorably. According to most analysts, …

Filing your taxes on line; or e-filing as it is called, is the easiest and quickest way to get your tax return completed. The first place to check for information on e-filing is at the …

The government has given all home owners a benefit that used to be reserved as a one time option for senior citizens. The family residence can be sold and most or all of the capital …

California has a voter initiated process that could be called “government by petition” where voters can change the law themselves. California Proposition 39 is an example where voters demand an end to an intolerable tax …

The word tax alone is enough to send a lot of people running for the hills. And as if filing a tax return does not cause people enough undue stress, it is becoming more and …

Municipal bonds have several tax advantages to investors, but only if proper strategies are used. Any of the three types of municipal security bonds can be exchanged for another, meaning, swapped. If this is done …

The home office deduction is one of the most valuable yet misused tax deductions available through the American tax code.  Both employees and self-employed persons are able to use this deduction, but it is important …

It wasn’t that long ago when doing taxes was a pretty daunting task. It required reading a big boring booklet, or at least parts of it, examining every line on every form, filling in numbers …

There are many people who won’t be getting a tax rebate this year. Obviously, situations and circumstances will vary with each individual case. Of course, there are some given reasons why a person won’t be …

The “Military Family Tax Relief Act of 2003” became law on November 11, 2003, early in the current wars in Afghanistan and Iraq.  The law provides certain tax benefits to service people and their families, …

The word “audit” has the power of striking fear into nearly every red-blooded, tax paying American citizen. If you want to avoid hearing that spine tingling remark, there are five pro-active steps to take before …

Selling Your Residence Many people still believe that if they sell their primary residence, they have to buy a more expensive one. This is no longer true. Under the current law, you must have owned …

As painful and as difficult as many people find filing their annual tax return with the Internal Revenue Service (IRS), a common fear that is shared by many people is the thought of being audited. …

Working from home has become a popular alternative for many given its convenience and the cost saving nature. In addition to these benefits, people who work from home offices are also able to claim tax …

H & R Block is a tax preparation company in the United States declaring in excess of 22 million customers worldwide. They also have offices in the United Kingdom, Canada and Australia. The location in …

With tax time in full swing and nearing the date when all Americans are supposed to have those tax filings turned in to the Internal Revenue Service, you may find yourself needing a bit of …

The difference between sales tax and use tax is that sales tax is charged at the time of sale whereas use tax is levied retroactively some time after purchase. If purchases comprise a large part …

The objective of tax planning is to arrange your financial matters in such a way where it is you are not required to pay so much in the way of taxes. There are three basic …

When you are declutteriing your home if items are still in good shape and useable, consider donating to a thrift store. If you itemize your deductions on your tax forms, you can include deductions for …

America is a nation of people who are equal before the law; and to abide by that principle all laws should apply to everyone. Therefore, the tax laws should be simplified for EVERYONE! The U.S …

Owning a home has it’s benefits. When you are a homeowner, you have a place to call your own and that place becomes your most valued asset. When you own your own home, you can …

First and foremost, let’s establish the fact that the average working/lower middle class citizen pays 13% of his or her income in federal taxes. I can’t speak for other states, but West Virginia got me …

Municipal bond swaps are used by a variety of investors to do everything from increase the investor’s yield to lower the amount an investor pays in taxes. In general, a bond swap is an investment …

In listing business deductions unusual items might be included, but they must fall under some general accepted tax deduction. Don’t listen to a neighbor brag about how they passed off their vacation as a business …

Apparently the government thinks it’s a good idea. The rich are already paying up to 35% in Federal income taxes. However, the newly proposed additional (surtax) income taxes would take away another 1 to 2% …

The Earned Income tax credit is beneficial to many lower-income taxpayers. It is not a difficult credit to figure out when completing tax forms, but it must be used properly to avoid penalties. The IRS …

Filing income taxes and paying income taxes are two different actions in the view of the U.S. Internal Revenue Service. If you cannot file or pay taxes on time, then there are options available that …

Home Mortgage Interest Deduction This seems like an easy discussion. If you have home mortgage interest, you get to deduct it on your taxes, right? The surprising answer is not always and not necessarily all …