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Taxes : Business & Finance
What Expenses Can Be Deducted From Income Taxes?
Reduce your tax liability with deductions for expenses.TAX TIME image by brelsbil from Fotolia.comWhen filing your personal income tax return, Form 1040, you should be aware of the various expenses that can be deducted. Although this is a confusing area for many taxpayers, deductions save...
How to Find Out When My Tax Money Will Be Here
The Internal Revenue Service allows you to check the status of your tax refund securely on the Internet with the "Where's My Refund?" feature at IRS.gov. You can use the service to track your refund whether you are expecting a paper check or a direct deposit to your bank account. Your refund status
Trust Fund Penalty - Payroll Taxes - Who Is Responsible?
A trust fund recovery case begins with unpaid 941 payroll taxes from a corporation. After some period of time, the IRS computer catches up with the unpaid 941's on corporate cases. These cases are always sent to the field for an examination of the trust fund recovery penalty.
Your Tax Return - How the Tax Return Process Works
Have you ever wondered how the whole tax filing process works. If you are curious here is a quick peek at how it works. Understanding how the process works will help you in figuring out how to save on tax preparation and filing costs.
Is Fraud a Reason Why We Pay So Much Tax?
Fraud is a hidden crime and nobody really knows how much it is costing us. This article explains some of the underlying contributors to the high level of tax fraud in the UK.
Explanations of Common Tax Credits
Tax credits may very well be the most powerful tool to reduce your tax bill. While adjustments, deductions and exemptions reduce your income, credits directly reduce the actual amount of taxes you have to pay, like a supermarket coupon. Furthermore, while deductions cannot reduce your taxable income
An Established Accounting Firm In Naperville
Tax preparation can be highly stressful and confusing. However, the professionals at Susan S. Lewis, Ltd. will help you achieve the best possible outcome with minimal effort on your part.
Make Sure to Get All of Your Deductions
Not enough can be said about the necessity to legitimately lower your tax liability. You always want to file a tax return with itemized deductions. Here are some of the more and less common deductions for which you may qualify.
Avoiding The Alternative Minimum Tax
The Alternative Minimum Tax was developed in 1969 as a way of keeping the wealthy from avoiding tax payments. Today, the burden of the AMT goes far beyond the rich. Many other taxpayers are being stra
Rapid Refund And Dealing With The IRS
A couple years ago the Milwaukee Journal Sentinel ran a story about Rapid Refunds entitled Poor Workers Got Fast Cash at High Prices. I was really shaken by the following.
Tax Effectiveness for Charitable Donation Part II - Annual Donation Limit at Death
Although many people make charitable bequests in their wills, other ways of giving may be less costly to them and their estates. In this article, we will focuses on the tax effectiveness of annual don
Are Unemployment Benefits Subject to State Income Taxes?
When you lose your job, one of your first concerns is paying your bills without a regular paycheck. Unemployment benefits pay you a set amount each week while you look for a new job. The amount of the benefit is based on your earnings in the 12 to 18 months prior to your unemployment claim, but it w
How to Get an Inheritance Advance
The term inheritance advance has taken on a whole new meaning. To some it produces thoughts of relief while others think immediately of greediness. However, when hardships abound, when all conceivable resources are exhausted, inheritance advance may be a viable solution. Whether the testator is stil
IRS Tax Debt - The Questions You Wanted Answers To!
As we get closer and closer to tax time more people are finding out that they may owe the IRS money.If this is your first time here are some common questions about IRS debt and some solutions that may help you.
Why Use An Umbrella Company?
In this article I will be writing a simplified explanation of how an Umbrella Solution can be used by a contractor. I will be briefly talking about what the solution actually is and what the main benefits to the contractor are.
Is an MBA Education Tax Deductible?
Making the decision to pursue an MBA (Master of Business Administration) degree is not only a significant time commitment but a financial sacrifice as well. Luckily, the federal government provides you with an array of tax deductions and credits that can reduce your tax bill for the expense of recei
Property Tax Protest - How to Wage A Winning Battle
Fighting an effective property tax protest is probably of more than academic interest if you've found yourself the victim of an overly high property tax bill. In this article I'd like to offer five tips on how you can successfully fight and win the property tax revaluation battle.
How to Get Paid - Collecting from Customers
When you start a business, one of your first tasks should be to decide how you will collect money from customers. If you don't get your money directly from credit cards or cash, you may need to bill these customers to collect your money.
What Is the Maximum Limit for Charitable Federal Tax Deductions in the United States?
The U.S. tax code encourages charitable donations by making them tax deductible, but it limits the donations you can deduct to 50 percent of adjusted gross income each year. However, the Internal Revenue Service says a limit as low as 20 percent of income may apply, depending on the type of organiza