For any business big or small, tax preparation is one part of the business where you can't afford to make any mistakes. Mistakes can often cost you additional taxes, interest rates, and penalties, and that's just for starters. If the IRS slaps you with a tax audit, that's when the mis
If you file your federal tax return as Head of Household, even if you and your spouse are not separated or divorced, the IRS may request that you provide them with proof of your status. In order to file as Head of Household, you must provide full-time care for your dependents more than six months ou
A capital gain is an increase in value of a capital asset that makes it worth more than its purchase price. A capital asset is an investment or piece of real estate. For property sold, the gain is calculated as the difference between what was paid for the asset, known as the basis, and what what rec
You have finished school and are about to enter college, the world is ahead of you and so is an abundance of choices to make. If you are considering a career in law then you will need to start thinking about which branch you would like to graduate in; commercial attorney in business, legal attorney
IC-DISC export tax incentives reduce your tax on export profits by 10%. This tax benefit can be improved under IRS rules, sometimes more than doubling the benefit through optimization calculations. For your company to get ...
How business owners are paid. Sole proprietors, LLC owners, partners, corporate owners and s corporation owners are paid in different ways.
Property tax reduction has become a big concern with People in America all over the country. Because taxation are rising across the U.S. Declares of America despite the steepest fall in ideals since t
When you sell your home, you may earn a profit or incur a loss. In either case, the Internal Revenue Service may require you to report the sale of your home on your federal income tax return. If you earned a profit, you may be able to exempt a certain amount from taxation. If you incurred a loss, yo
An IRS pronouncement makes tax planning clearer. It also opens new tax-advantaged retirement savings strategies.
Broadly defined, a survivor benefit is a sum of money paid to a surviving spouse or child as the named or statutory beneficiaries of a decedent's entitlements, retirement plans or insurance. As a general rule, survivor benefits are usually dispensed in periodic payments that may be tax-free, partial
Most people in the Unites States make their tax payments at source through payroll withholding. The process is fairly simple and makes life easy for an employed tax payer; a part of your paycheck is deducted by the government which is then used as credit towards your annual tax liabilities. The serv
Preparing and managing the financial record of your company is not a child's play, rather demands efficiency and excellence of a bookkeeper. Never delay in hiring a bookkeeper in Western Aust
The Tax Code of the State of Texas allows certain qualifying organizations to be exempted from paying tax. This can incorporate sales tax, hotel occupancy tax and even franchise tax. The criteria to qualify for such exemptions are different for each type of organization and due to the number of adde
Once a taxpayer has filed their return the government reviews it, what if they don't agree and reassess. What rights does the taxpayer have and what complications are there is the taxpayer is also charged with tax evasion?
The Pennsylvania Department of Revenue offers services to taxpayers that include obtaining copies of previously filed income tax returns. By contacting the Pennsylvania Department of Revenue in writing, you can obtain a copy of your own income tax return for the 2007 tax year. Once the Department of
W-2 forms, provided by employers at the beginning of each year, provide employees with a record of their income, taxes, benefits and deductions during the previous year. Employers prepare and distribute employee wage forms, called W-2 forms, in January and February and submit a summarized report to
Individual Retirement Accounts are tax-preferred savings vehicles. The government taxes income generated by these savings instruments at a lower rate to encourage tax payers to save for retirement. In return, investors must leave the IRAs untouched until retirement or pay "early withdrawal penalties
If you are expecting a tax refund, perhaps you are like many Americans anxiously checking their mailboxes. While the IRS does provide a toll-free number to check on your refund status, many find it is often easier and less time-consuming to check on-line. Refunds on electronically-filed returns are
Many businesses make their bread and butter off of independent contractors. The problem is that there are very distinct differences between independent contractors and regular employees. The main diff
Hairdressers and cosmetologists may find themselves in a variety of tax situations from one year to the next. People in those professions offer a combination of services and retail goods and may be employees or self-employed. Expenses may range from station lease to purchase of laundry equipment. Ea