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Taxes : Business & Finance
Are Paid Internships Considered Employment?
Paid internships offer students and new workers without much experience an opportunity to work for an employer without going through the standard recruiting and application process. In addition to payment from the employer, paid internships sometimes involve a college or university that offers the e...More...
Tax Credits for Residential Appliances
Things have changed within the realm of federal income tax credits. Originally established in 2005 with the Energy Policy Act, tax credits that allowed deductions for the purchase and installation of energy efficient home appliances expired with the 2010 tax year. For a limited time, major heating a...More...
Tax Tips for Salespeople
Commissioned salespeople frequently come under special scrutiny for IRS auditors. This is because of the wide variety of tax deductions available to sales professionals. Many sales professionals are independent contractors rather than statutory employees, and therefore effectively run......More...
Limited Liability Companies - 4 Things to Consider When Preparing For Tax Time
A Limited Liability Company has four potential business forms to operate under. Some of the highlights are listed below. € As a sole proprietorship € As a partnership € As a C corporation € As ... ...More...
Paying Workers - What Can You Write-off?
As your business grows, you are going to need help. This help comes in the form of employees and independent contractors. What you can write-off is dependent upon how your helper is classified – as an employee or independent contractor....More...
Demystifying the Housing Tax Credits For Millions of Potential First-Time Home Buyers
Personal finance management - tax law has always been one of the most complicated topics in finance for people to understand. This article details the tax credit available to first time home buyers. This article is a must read for anyone considering the first house purchase....More...
How to Calculate a Circuit Breaker Program
The Illinois Department on Aging has created the Circuit Breaker program to help senior citizens pay their property taxes. Circuit Breaker is a grant from the State of Illinois to eligible residents. You can calculate the amount of the Circuit Breaker grant available to you....More...
How to Become a Tax Preparer in Texas
Tax season is a dreaded time for many taxpayers. For someone who doesn't know all the ins and outs of tax law, filing a tax return can be a daunting task. And with all the credits, deductions, forms, and yearly updates, it can all be quite overwhelming. This is why we have professional tax preparers...More...
How to Correct a Past Tax Return
If you discover you have made an error on a past tax return or information was omitted that could have reduced your tax burden or increased the amount of your refund, the IRS provides a form for making your changes or corrections. Specific time limits apply to amended claims filed for credit or refu...More...
Can the IRS Garnish Your Wages?
The IRS is the most feared collection agency on earth. Unlike other collection agencies, the Internal Revenue Service has the power of the federal government behind it, which means it has tools at its disposal that the others do not. The IRS won't call your home and ask you pretty please for th...More...
Tax Deductions for a Carpenter
Business owners, contractors and employees can incur a variety of expenses related to their trades or businesses. While such necessities can make it more expensive to run a business or work in certain trade, many work-related expenses qualify as tax deductions on income tax returns. Both self-employ...More...
How Much Tax Do I Pay If I Win the Lottery?
Every silver lining comes with a cloud, and in the case of winning the lottery, the cloud is tax withholding. While lottery winners should expect the tax man to take his share of the winnings, proper planning and correct withholding made by the prize's grantors, prize winners shouldn't have to let t...More...
Set up the Startup Costs Statement in a Financial Software Application
To create your startup costs worksheet, you will first need to format a page in a spreadsheet application....More...
What is Income Tax Relief?
Income tax relief is a program created by the Internal Revenue Service (IRS) to assist willing tax payers in lowering the amount they owe in taxes, often times waiving or eliminating altogether their total owed to the government. This relief act is not a widely advertised program. The main reason, o...More...
Know What Is Offered In Compromise?
Most of the taxpayers find it hard to resolve the tax debts. There are many ways to deal with this situation. One of the most effective ways is offer in compromise....More...
Free Online Income Tax - How Will You Do Free Income Taxes Online?
If you want to file income tax free and want free online tax return preparation for your state and federal taxes you get the best service here. You can E-file your taxes free now and get fast tax refund guaranteed with File Income Tax Free....More...
The 2 Percent Solution
It is no surprise that President Obama's fellow "progressives" were dismayed at his agreement to continue the Bush-era income tax rates for everyone, including high earners. But their reaction to his deal with Republicans on Social Security taxes is revealing....More...
IRS Interest Abatement - 3 Easy Steps For Having Interest Removed From Your IRS Tax Debt
Higher and Higher: Interest and Penalty rates are the highest they have ever been. And they will keep climbing higher every year. So what should you do when the IRS applied interest when they were not supposed to? Are you stuck paying a giant bill you don't owe? No. Follow these 3 simple steps ...More...
2008 Tax Rebates and Economic Stimulus Plan
The first piece of tax legislation in 2008, the Economic Stimulus Act provides that the taxpayers will receive a one-time rebate in mid-2008. The rebates, or "stimulus payments" as they are being called by the IRS, will be mailed or sent via direct deposit to individuals who file a 2007 ta...More...
Types of IRS Tax Debt Settlement
There are many forms of tax settlement. Each form of settlement is used for different financial situations. It is important to understand the difference before trying to attempt making a settlement with the IRS....More...
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