Browsing Category
Taxes : Business & Finance
The Renewable Energy Tax Credit in 2008
The U.S. government on Oct. 8, 2008 passed into law the Emergency Economic Stabilization Act of 2008. The bill, coming in the wake of a huge financial crisis, was intended to provided the United States with financial support to bolster the faltering economy. Yet, also contained in the bill were a nu
Abandonment Study Yields Tax Reduction
An abandonment study can legitimately generate a windfall of depreciation for the owner of investment or owner-occupied real estate. By increasing depreciation, substantial tax reduction can be effected.
Which State Pays the Least Taxes?
Federal taxes are imposed on U.S. citizens regardless of the state they live in, but states also impose taxes on people that live within their borders. States impose a variety of taxes such as income taxes, sales taxes and special taxes on common goods like gasoline and cigarettes. States vary signi
3 Simple Steps to a Stress Free Tax Season Next Year
Even though tax season is officially behind us, it's always a good time to think about how we manage our financial records and to make improvements where necessary. If you experienced any kind of stress or frustration around gathering your financial records this year, I encourage you to get a h
How to Know If I Need to File State Taxes
As of 2010, only 43 states require residents to file state income tax returns. Each state has similar requirements for taxpayers, such as the minimum income requirements each resident must meet. The seven states where residents do not have to file state returns are Florida, Texas, Nevada, Alaska, S
Definition Of Taxes- Related Tips About Definition Of Taxes
As you devour this article, remember that the rest of it contains valuable information related to definition of taxes and in some way related to finances, progressive tax, tax tips or personal property tax for your reading pleasure.
Tax Deductions for Charity Volunteers
According to the Internal Revenue Service, charitable contributions are voluntary donations, gifts or services that are given to qualified organizations with no expectation of getting anything in return. You must itemize your deductions on Form 1040, Schedule A to take a charitable deduction. Keep
Can I Write Off the Interest Accumulated on a Bad Debt Loan?
In the United States, the Internal Revenue Service allows individual income tax payers to reduce all forms of gross individual income by the amount of bad debts the taxpayer is unable to collect upon. While taxpayers may generally deduct the full amount of the loan, subject to certain capital loss
Do Unemployment Benefits Qualify You for the EIC?
The Earned Income Tax Credit, or EIC, can help reduce your federal income tax liability and in some cases help you to have a tax refund even when you underpaid your taxes through the year. The EIC was designed to help offset the costs of Social Security, help low-income families and encourage people
If My Husband Owes Back Child Support & We File an Injured Spouse, What Happen to the Returns?
If your spouse owes back child support and the state or Internal Revenue Service is intercepting or garnishing your federal tax refund, you may qualify to receive a portion of your state and federal tax refund. However, the IRS will only award this portion of the tax refund if both spouses complete
How To Pay Off Tax Debt With The IRS
The Offer in Compromise and IRS Installment Agreement Plans Help to Pay Off Tax Debt If your tax debt is hanging over your head and you feel like you can't pay it off, this article is for you
Converting an RRSP to a TFSA Before Retirement
Registered Retirement Savings Plans (RRSPs) have been around for some time, but the Tax Free Savings Account (TFSA) is relatively new. This means that retirement strategies are possible today that were not thought about 5 ...
How to Determine Tax Withholding
Tax withholding is the practice of employers deducting income taxes from your paycheck and forwarding the money to the government as an advance payment on your estimated tax bill at the end of the year. The amount withheld from your paycheck depends on several factors such as how much you earn, your
Advice on Internal Revenue Service Audits
With the internal Revenue Service (IRS) making headlines lately about increasing audits, it is important to do what you can to avoid being audited. Keep in mind that having to pay more money is not the only unpleasant part of an IRS audit. Typically, audits are a time consuming and aggravating proce
Do You Know How Make Car Donations To Charity?
Though some folks give money or objects for charity as a result of they wish to do some good, there are others that do it only for the tax right off. It actually doesn't matter ...
How to Select Your Corporation's Board of Directors
A discussion about selecting board members fora corporation, including what to look for in a board member and who to avoid.
Tax Help for Cosmetologists
As a cosmetologist, you will typically spend money out of your own pocket to purchase supplies and equipment. In addition, you may have other expenses related to your job that can be deducted to reduce your tax liability. You will only be able to deduct the amount of miscellaneous expenses that exc
What Is Advantage of Filing Extension on Income Taxes?
The tax code as developed by the Internal Revenue Service (IRS) can be extremely complex, particularly for taxpayers with complicated returns or with little knowledge of tax law. To allow taxpayers sufficient time to accurately complete their tax returns, the IRS usually grants extensions of time to
Can I File Taxes at 17 Years Old?
Your income, not age, determines whether you must file taxes at 17 years old, according to the Internal Revenue Service. However, the filing requirements for minors, or those 17 years old and younger, are different from those for older taxpayers.