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Taxes : Business & Finance
IRS Rules for Charitable Gifts
IRS rules for charitable donations can enable you to give more.tax time image by Tom Oliveira from Fotolia.comCharitable donations can be cash, stocks and other property made to organizations that the Internal Revenue Service (IRS) has officially approved to issue receipts for those......More...
Why Are Taxes More When Filing Jointly?
The so-called "marriage penalty" is a conundrum in which married taxpayers may pay more taxes on a joint return than two individuals would filing separately. This may occur when both spouses have earned income; couples with only one wage earner rarely encounter this problem. Thanks to recent tax law...More...
Tax Credits for Construction Workers
Individuals are constantly looking for tax deductions to lower the taxes they owe each year. Costs associated with an individual's business or line of work is a good place to start. Tax deductions are allowed for ordinary and necessary business expenses. These are expenses commonly accepted in the i...More...
Earned Income Tax Credit Increases Your Tax Refund
The Earned Income Tax Credit or EITC helps many hardworking people especially those responsible for others who depend on them for support. This refundable tax credit however has brought about a complex set of rules and regulations for both tax payer and tax preparer. Current EITC information, coveri...More...
Property Tax Information for Massachusetts
According to the website TaxFoundation, the state of Massachusetts was ranked eighth in the nation in fiscal year 2007 for property tax collections per capita, with the average property owner in the state paying $1,710 annually. In Massachusetts, property taxes are handled at the local level for eve...More...
Payment for Software not a Royalty
The Mumbai Income Tax Appellate Tribunal ruled on 26 August 2011 that the supply and license of software constituted the transfer of a copyrighted article, rather than the transfer of a copyright. Con...More...
Income Tiers & Percent of Taxes
The federal government imposes a tax on most, if not all, of the income you receive during the year. To calculate the amount of tax each person owes, the IRS uses income tiers, or tax brackets, with six different tax rates that depend on your income....More...
How a Home-Based Job May Just Save an Individual From Paying Back Taxes
You used to be working for a traditional brick and mortar company, but you got laid off in 2008. Since then, you have been working at home, doing various home-based jobs. The income is sufficient to keep you financially even, but you found out that you have back taxes for 2009. Do you need to claim ...More...
How to Qualify For a Mortgage Loan, Using Tax Returns and P & L Statement
The difference in the information included in a Tax Return and a Profit and Loss Statement are very much the same, however, the bottom line can be viewed differently. The young couple started a small business, which grew quickly into a six figure income with 2 years. Fortunately, they purchased a ho...More...
Tax Help for Teachers
Most teachers spend money out of their own pockets to purchase supplies and other materials for their classrooms or their students. The IRS recognizes this fact and allows teacher either to take a standard teacher deduction on their 1040 forms or to itemize expenses on a Schedule A. If you teach, ge...More...
Small Business Tax Questions - How Are LLC's Taxed?
Do you own a limited liability company (LLC) and need to know how your income from the business will be taxed? Read on to find out....More...
Rule 14's ‘Interest' forgiven, amendment in ‘interest' of assessee!!!
The much anticipated '2015-2016 Finance Budget' is here. It was presented by Hon'ble Finance Minister, Arun Jaitley on 28th February 2015. Was it in favour of the common man or of the revenue...More...
Tax Saving Strategy For Canadians
When you want to plan your taxes in Canada, then you need to plan in advance. If you are wise, then you can plan the best options. Do not wait till the last minute and you need to start planning even before that. Canada is one of the tax havens. You can save your tax when you invest wisely. ...More...
Correct Treatments For Financial Documents With Bookkeeping Services
Complete End to End Business Solution offering various services such as Incorporation, Bookkeeping, Payroll, Taxation and Corporate Compliance....More...
How to Avoid an IRS Audit when Donating a Car to Charity? (Part 2)
If your vehicle is used by the charity in their daily operations, you can deduct its "fair market value" but it has to be a "significant intervening use."...More...
Independent Contractor Tax Tips
Independent contractors are workers that perform services for clients such as other individuals or companies but are not considered employees of a company. According to the IRS, an independent contractors can include professions such as lawyers, contractors, subcontractors and......More...
Advantages Of Using Tax Rebate Estimator
Taxes are the driving force behind all fiscal expenses of a nation. Their enforcement is something that each and every citizen is obliged to comply with, without fail. However, there are cases where its computation is erroneous and necessitates an adjustment....More...
What You Need to Know About Taxes in Florida
Get the scoop on Florida state taxes including details on Florida property taxes, Florida sales tax rates, and other state taxes in Florida....More...
Can I File a Dependent on My Taxes If They Receive Welfare?
If your child, sibling or parent is receiving welfare, that doesn't prevent you claiming them as a dependent. They will have to meet the IRS's definition of a dependent, which does include some financial requirements. Those requirements, however, are not affected by the source of your dependent's in...More...
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