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Taxes : Business & Finance
Understanding Hong Kong Tax Rules (Part 3): Salaries Tax
Hong Kong tax rules are not very complicated. However, many people are confused when preparing their tax returns because there are not many guidelines around. In this series of articles, we will explain some key ... ...More...
What Would Happen If You Got Sued?Can't Happen To You? Think Again! You Need Asset Protection
Sadly this could happen to you:The doorbell rings and a courier arrives with a package for you to sign.What could it be?A gift from someone?You sign and open the box to find you have been served.The mailman tripped and hit his head which led to a stroke.His family is now suing you for 18 million dol...More...
CPA Clarifies Hobby Vs Business According to IRS Definitions
Your CPA is keeping a close eye on client's finances during these troubled economic times. For many taxpayers around the country, it is their financial adviser's job to make sure income is reported correctly. Households are looking for extra income anyway they can get it....More...
What Is Day Trading? How to Avoid Day Trading Mistakes?
Day Trading involves taking a position in the markets with a view of squaring that position before the end of that day. provides more trading opportunities. This is why it can be a good source ... ...More...
How to Donate to Charities
If you've decided to donate to make a charitable contribution, you'll need to organize the details of the donation to make the most of your efforts. Donating to charity isn't limited to just money; you can donate food, clothing, pet supplies and even blood, depending on the organization. Making any...More...
W4 What 4 Three?
During the course of a 12 month year, the W4 should not be put away and discarded like an old shoe. It is compared to your paycheck to see if your are having enough taxes withheld....More...
Some Government Income Tax Forms We Should Know Of
There are so many government income tax forms. Here is a basic look at some of them....More...
Will Banks Pay Property Taxes on Delinquent Mortgages?
Generally, banks will pay property taxes on delinquent mortgages if the loan is set up with an impound account, also known as an escrow account. An impound account allows the bank or mortgage company to collect funds up front for future expenses, primarily property taxes and insurance. The amount ne...More...
Do I Have to Pay Taxes for Babysitting?
Employers withhold taxes from employee income to pay the Internal Revenue Service for the employees Social Security tax, Medicare tax and income tax. Workers who take odd jobs often have no employer and do not have taxes withheld from income. According to the IRS, "earnings you received from self-em...More...
IRS Offer in Compromise - Know the Landmines and Avoid Being Rejected
So you've decided that you're going to submit an Offer in Compromise to the IRS. That's great! Now the problem is that you really aren't sure what the IRS expects from you. You're not sure what to submit. If you know the answers to these simple questions, you can greatly red...More...
Filing a 2009 Tax Return
The time will come quickly when you have to file your 2009 income tax return to the IRS before the deadline. For the most people, tax season is always stressful because it involves several documents and forms to deal with and certain credits and deductions to claim....More...
How to File 2009 Taxes Online
Federal income tax returns must be filed by Apr. 15 each year by U.S. residents who meet certain income requirements. Federal income tax returns for 2009 can be filed online, or electronically, for faster processing by the government and for faster refunds to taxpayers who overpaid their taxes in 20...More...
The Filing Date for U.S. Tax Returns
The filing deadlines for the U.S. tax year 2010 begin in April 2011. Each tax return must be postmarked or submitted electronically by the filing date. Penalties and interest will accrue in any unpaid taxes from the filing date, unless the taxpayer files an extension by the deadline. U.S. income tax...More...
Even Sodas Are Being Taxed
Governments that are struggling with debt and lost revenue are doing everything possible to increase their cash flow. Taxes are being raised on a number of things across the country. One such tax that has a lot of people angry is the soda tax that a few states have levied. The tax was first introduc...More...
How to File a Tax Return in Colorado
Filing federal income tax returns is important no matter what state you're in, and like most states, Colorado also has its own taxes. Your state taxes can be deducted from your gross income on your federal income tax return, resulting in a lower adjusted gross income, which may mean you owe less mon...More...
How to Amend a Michigan State Tax Return Online
Michigan allows up to three years to file an amended return. If you filed through Online Taxes, you can access your return and make corrections for free. If you did not originally file online, a fee of $49.95 is charged to amend the tax return online....More...
Expat Tax Lesson Learned From the Gorillas of Ruanda
U.S. expatriates living abroad often make decisions about their finances and their tax preparation alone. Successful U.S. expatriates rely on the knowledge and experience of their trusted expat financial professional to help them manage all aspects of their finances regardless of the circumstances. ...More...
Health Savings Accounts And Taxes
HSAs have a “triple” tax advantage from a federal tax standpoint.Individuals receive full tax advantages for HSAs on their Federal Income Tax return (or through a salary reduction program in certain employer-sponsored settings) regardless of particular state’s tax treatment of HSAs...More...
How to Enter Oil Royalties on a 1099 Tax Form
Form 1099-MISC is the federal tax form that should be used to report taxable income other than wages, which are reported on Form W-2. Oil royalties are generally reported on Form 1099-MISC. One copy of the form is sent by the payer to the Internal Revenue Service and a second copy is sent to the pay...More...
Do People on Social Security Have to Pay Yearly Taxes?
Social security provides a monthly payout to Americans who have worked for a certain number of years and reached a predetermined retirement age. These payments may or may not be subject to federal income tax at the end of the year. How much income tax is owed on benefits at the end of the year is la...More...
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