Taxes Archive

Tax day is right around the corner, and the tax forms are flowing. In the next few weeks, most of us will receive W-2’s, I-9’s, and a slew of other “bingo” sounding forms. Now more …

When Congress creates a new tax deduction they’re acknowledging the power these incentives have over public behavior. When home mortgage interest was first singled out to be a tax deductible expense, it wasn’t meant as …

In a January, 2007 report by the Community Reinvestment Association of North Carolina, it states Refund Anticipation Loans i.e. ‘instant refunds’ cost between 36%-700% in interest. What’s more, multiple national data collectors including online magazines …

When tax time is due and you have no money to pay them, you must borrow money to pay them. There is no way you can send a note to the tax collectors saying: sorry, …

Choosing a tax professional is as vital to overall financial health as a doctor is on matters of physical health. A fancy title or elaborate office does not guarantee higher quality of service or knowledge …

Imagine being rewarded for a good deed. The much dreaded Internal Revenue Service gives taxpayers that option by allowing Federal income tax deductions based on contributions to charitable organizations. If you are not yet taking …

Tax season comes around every year and ends on April 15th. The two guarantees in American society are death and taxes. Everybody is going to die and everybody is going to have to pay their …

Tax season is upon us.  It happens every year. What are the tax reporting guide lines to the IRS this year?  According to the IRS Publication #17 IRS changes for 2010  the minimum reporting income …

The economic recession of 2008-2010 may be staging a slow recovery but one of the casualties of the recession has been the huge numbers of home foreclosures.   With an estimated 25 percent of homes that …

Guide to Reporting Self Employment Income to the IRS Everyone who has net income over $400 from self employment must report it to the IRS.  This may include income from farming, baby sitting, a partnership …

How to file taxes from an iPad Here Ye, Here Ye, tax time is near, to file taxes for 2010.   While some individuals rely on a tax accountant, or a tax professional, others like to …

The tax cuts that occurred during George W. Bush’s terms in the White House were intended to stimulate economic growth through what is known as ‘supply side economics’. According to James, D. Gwartney of the …

If you go back as far as this writer, you may recall the famous line by Steve Martin on a late 1970’s vintage episode of Saturday Night Live, “You too can be a millionaire and …

Should gym memberships be tax deductible? OMG you’ll be asking for sex deductible tax next but there’s a thought, as to how that one would work. LOL ! So New Year arrives and one decides …

If you are a small business or accounting firm, and you haven’t starting filing your W2 and 1099 tax forms on line, you are missing out on a low cost convenient service that could cut …

UK inheritance tax is charged at 40 percent on the estate of a deceased person, and at 20 percent on certain lifetime transfers, when the total value of transfers exceeds the nil rate band of …

Outrage was heard from the people of the United States of America when they found out that Google, one of the wealthiest, most profitable companies in the world, paid less than 3% in taxes under …

The right tax preparer can save you a lot of money. Obviously you want to find the right one. There are many different ways that you may find such a professional, including the following. Ask …

So you want to find the right tax attorney? Before you put your hand in your pocket and spend your hard earned cash, stop and consider your options. Your first port of call should be …

If you carry on trade or business as a sole proprietor, an independent contractor, or as a member of a partnership, S-corporation or Limited Liability Company, you are considered by the IRS to be self …

Trustees incur general management expenses in managing a trust’s affairs. The allowable trust management expenses may be used to reduce the tax paid by trustees of a discretionary or accumulation trust, and in the case …

According to a CNN study, 7 out of 10 Americans do not regularly exercise. According to a study conducted by the Centers for Disease Control, 68% of Americans (roughly 7 out of 10) are obese …

A step up in cost basis can dramatically affect taxes because it amounts to an increase in the value of wealth passed between deceased and living persons. The step up in cost basis regulation is …

Losing a home to foreclosure is already a harrowing experience. As though that is not bad enough, home foreclosure can also have negative tax consequences. This is because debt settlement is considered income by the …

Every business needs to replace business assets at regular intervals to keep up with the changing economic and business climate and to ensure that the business is well equipped with the latest technology to cope …

UK inheritance tax is charged on the worldwide assets of persons domiciled in the UK and on the UK assets of non-domiciled persons. The tax is charged on certain lifetime transfers of value and on …

A value added tax (VAT) system is to some extent self-policing, because the buyer of a service needs an invoice from the supplier so as to reclaim the VAT input tax on the purchase. It …

As your tax situation becomes more complex, either because you own a business or are starting to think about how to pass your estate on to later generations, the expert advice available from a tax …

HM Revenue & Customs are moving with the times and are encouraging all tax payers to deal with their taxation affairs online via the internet, and VAT is no different. From the 1 April 2010 …

The construction industry scheme was first set up in 1971 to improve tax compliance in the construction industry. The scheme relates to payments made by a contractor to a subcontractor in relation to construction operations. …