Business & Finance: How to Prove Head of Household

How to Prove Head of Household

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

Business & Finance: Can I Deduct My Property Insurance on My Federal Income Tax?

Can I Deduct My Property Insurance on My Federal Income Tax?

Homeowners benefit from several tax deductions as part of owning property, but property insurance is not among them. Mortgage interest, real estate property taxes and mortgage insurance premiums are among the common homeowner tax deductions. Homeowners that work from home can also benefit from home

Business & Finance: Information for the Potential Tax Attorney in Training!

Information for the Potential Tax Attorney in Training!

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

Business & Finance: How do business owners get paid?

How do business owners get paid?

How business owners are paid. Sole proprietors, LLC owners, partners, corporate owners and s corporation owners are paid in different ways.

Business & Finance: How to Reduce Tax on Property or Home

How to Reduce Tax on Property or Home

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

Business & Finance: What Deductions Can I Claim on My Taxes for Selling My Home?

What Deductions Can I Claim on My Taxes for Selling My Home?

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

Business & Finance: Is a Survivor Benefit Lump Sum Taxable Income?

Is a Survivor Benefit Lump Sum Taxable Income?

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

Business & Finance: What State Do I File My Taxes Under?

What State Do I File My Taxes Under?

If you relocated from one state to another last year, you may owe income taxes to two state governments. If you lived in one state but earned money in another, you may have to pay tax in both states. The exact rules and tax rates vary between states so check with the governments involved to determin

Business & Finance: How to File a Tax Exemption in Texas

How to File a Tax Exemption in Texas

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

Business & Finance: Render Unto Caesar

Render Unto Caesar

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?

Business & Finance: How to Obtain a 2007 Pennsylvania State Tax Return

How to Obtain a 2007 Pennsylvania State Tax Return

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

Business & Finance: How Do I Create a W-2 Form?

How Do I Create a W-2 Form?

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

Business & Finance: Basis of Inherited IRAs

Basis of Inherited IRAs

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

Business & Finance: IRS Helps Businesses Fix Misclassified Indie Contractors

IRS Helps Businesses Fix Misclassified Indie Contractors

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

Business & Finance: Tax Tips for Beauticians

Tax Tips for Beauticians

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