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Articles in Home | Business & Finance | Taxes Sort By: Title|Newest|Oldest Taxes, Income And Other Ones  By : Frank Hague The story of American income taxes begins 1812. The 1st attempt to inflict an income tax on Americana occurred as a result of the War of 1812. At the end of two years of war, the federal government owed an unbelievable $100 million of debt (in inflationary terms, it probably had the same impact on the treasury as $100 billion debt would today). To pay for this, the government doubled the rates of its major source of revenue, customs duties on imports. This measure obstruct... Top 7 Small Business Tax Tips  By : Stephen Pope Here are seven ways for owners of small businesses to save money on their taxes. 1. Incorporate Yourself: If you`re still a proprietor or partner of a business, it`s time to incorporate yourself. Not only will you limit your liability, but you may enjoy lower tax rates on small business income and other tax advantages as well. 2. Be Home Based: If possible, continue (or switch to) being a home based business. Not only will you keep your overhead down, but you will be a... Getting Payroll Tax Figured Out  By : Sandy Baker There is nothing escaping payroll tax. It is something that you will need to deal with from the day that you get your first job until the day you retire. Payroll tax is the amount of money that comes out of your paycheck each and every time for the various services that you need to pay for. And, there is even a specific tax that is for the use of payroll as well. Nothing is certain… If you are a business owner, then you realize that you will need to take care of these pay... The Role Of A Tax Collector  By : Michael Sneed The County Tax Collector is as independent government agency and is elected for a four-year term in the Presidential election year. It is essential that a County Tax Collector is independent to ensure that it can serve the taxpayers, local businesses and local and state agencies correctly. The duties of a County Tax Collector are: • Collecting property taxes for every local government agency with the power to levy taxes • Serving the state as an agent for the Depa... Audit Advice That You Need  By : Matthew Noel Oh no! You need audit advice. You just received in the mail a notification that you are going to be audited by the IRS. What now? How do you respond to this and should you be having a heart attack now? While many people lose it as soon as they realize that the IRS is going to be asking for their records and proof, the fact of the matter is that the best audit advice is to stay calm and gather the information that you need carefully, accurately and without worry. Before yo... Tax Tips For Small Businesses  By : The INTERNAL REVENUE SERVICE has come out with a especial(a) program known as STEP, or Belittled Stage business Taxation Education that you tin read to understand the overall taxation structure. At that place are a few things that tin can be done to make sure that the process of filing your taxes is smooth and easy. New York, NY (PRWEB) April 6, 2005 tips Don’t the complexities involved in doing your taxes bug you, specially, if you own a belittled stage business. Following a... Subchapter S Corporation Tax Status  By : Paolo Basauri Overview of the Subchapter S Corporation Designation Although the term Subchapter S Corporation sounds as if it applies to a certain type of company, in actuality, it is merely a term used by the IRS (Internal Revenue Service) to designate a particular tax status. Almost any company that is comprised of 75 or less shareholders can apply for the Subchapter S Corporation tax status designation. Being approved for a Subchapter S Corporation status allows the company to be tax... Income Tax Help  By : LeeAnna There are many websites on the Internet today that gives much needed income tax help for those who have no idea of what's going on during tax time. Income tax is a tax paid on income, unfortunately no matter how little it is. It's paid by employees and people who are self-employed and may also be payable if you are not working but you have an income, such as a retirement pension or an occupational pension. Not all types of income are taxable and it will seldom be the case tha... Congress Taking A Fresh Look At Online Sales Taxes  By : Rick Hendershot Linknet Internet News Digest - December 22, 2005 - According to a 1992, U.S. Supreme Court ruling, states can only require sellers that have a physical presence or "nexus" in the same state as the consumer to collect sales taxes. The Supreme Court also ruled that while buyers essentially owe the tax on purchases, the mishmash of taxing jurisdictions is too complex and burdensome for online retailers to charge and try to collect sales taxes. Imposing a tax requirement would... How To Avoid Double Taxation Of Your Small Business Profits  By : Wayne M. Davies Have you been thinking about incorporating your small business or self-employment activity? The advantages are many! For starters, you'll be protecting yourself and your family from the possibility of a business ending lawsuit. Forming a corporation is Step One on the path known as "Asset Protection" -- you are moving from the world of unlimited liability to the world of limited liability. (NOTE: For further insight into the legal advantages of incorporating, check out ... Getting The Biggest Benefit From Tax Help  By : Stephen Kreutzer Taxes are a way of American life. They are own duty to pay and file. Many people go in search of someone to help them when tax time rolls around. Tax help seems to be in abundance from January 1st to April 15th. Unfortunately, some tax help is best avoided. Other times the tax help is something that many people have no idea how to find. Getting the biggest benefit from tax help depends why you need help in the first place and where you get that help. Most people seek tax h... How To Keep The IRS Off Your Back And Out Of Your Life In 2006  By : Wayne M. Davies Sorry to crash your party, but as we bring in the New Year, it's also time to bring in a New Tax Season. As a small business owner or self-employed person, one of the easiest ways to keep Uncle Sam off your back and out of your life is to file your forms, payments and other paperwork on time. Over the next four months there are several key dates that you dare not forget! Here they are -- all in one place, along with links to the IRS website PDF file for that particular for... How To Avoid Those Mind-Boggling Depreciation Rules  By : Wayne M. Davies Tired of dealing with those complex depreciation rules? Thanks to recent tax law changes, here's how to avoid them completely while benefiting from a lucrative small business tax break that not only puts money in your pocket, but also makes the filing of your income tax return much simpler. What am I talking about? It's called the Section 179 deduction, and if there's one tax law you need to understand, this is it. Here's why: The Section 179 deduction enables the Small... How To Contact The IRS Without Breaking Into A Sweat  By : Wayne M. Davies We all love to criticize the IRS, don't we? It's easy to ridicule a huge organization of government bureaucrats who often seem to be Public Enemy #1. Our negative attitude toward the IRS can lead to a strong desire to just ignore it altogether. But self-employed people who ignore the IRS do so at their own peril. So when it comes to providing free information about taxes, let's not throw the baby out with the bath water. The IRS does provide some excellent resources t... Tax Credit for Going Solar  By : Solar Man As we sit in the middle of winter, most people can’t believe how high their utility bills are. Going with solar energy can lower your bills and you get a hefty tax credit. Tax Invoice  By : Max Plata - A tax invoice is a legal document that offers a look at what the GST is for a transaction. Read on to learn about your obligations for issuing, holding, and supplying the different types of tax invoices. You can easily learn what the general requirements are for keeping tax invoices and what you can do if you receive a tax invoice too late to claim a GST credit, as well as what the requirements are for issuing tax invoices that are specific to the value of the supplies, an... The Legalities And Issues With An IRS Levy  By : Henry Byers - An IRS levy is an order from the Internal Revenue Security directing TVA to withhold a specified amount of an employee’s pay to satisfy a tax debt. If the IRS determines that we owe back tax then it may issue an IRS levy requiring the deductions from the pay till the back taxes are paid. They may ask the person to sign an agreement of consent authorizing the amount to be deducted. The IRS levy can allow an amount to be exempt from withholding based on the o employee’s tax fil... Compromising With The IRS  By : Frank Hague - Few things threaten your well-being like the harassment and anxiety of persistent tax problems. Most people make 3 mistakes that get them in trouble with the IRS. They procrastinate. They attempt to represent themselves. They hire sub-par representation and now are in MORE need of help than ever before. These are the kind of services a Tax Attorney can provide: Offer in Compromise Cases, Penalty Abatement Petitions, Full Audit Representations Business Strategy Sessions. Pr... Tax Magic: How To Turn Taxable Income Into Tax-Free Income  By : Wayne M. Davies - Believe it or not, there are ways to convert taxable income into non-taxable income, without any fear of an IRS audit. Here's one of my favorites. It's been part of our tax code for over 30 years, yet many still don't take advantage of it. What am I talking about? The IRA -- Individual Retirement Account. Now, before you say, "Oh, I know all about that one; what's so great about an IRA?", give me 10 minutes to explain 3 new benefits to the IRA rules that you may n... The Internet Tax Man Cometh  By : Tim Knox - Q: I was contacted by the city tax collector to say that my business is scheduled to be audited to see if I owe sales tax on items purchased on the Internet. Can they really make me pay sales tax on internet purchase? I thought you could buy things online tax free? -- Charlie B. A: Sorry, but your local municipality is well within its rights to audit your business to identify items purchased online. The city can also demand payment of sales tax on those items if sales tax ... Adult ADD And Taxes  By : John MacKenzie - I know you still have about three months until you have to file your U.S. tax forms, but now is a good time to think about taxes. Many adults with ADD would rather scrub the floor with a toothbrush then work on preparing their taxes. Here are some tips to help make taxes less taxing: (pardon the pun) 1. Set up a folder ( green, black, or red are good colors) or a box where you will put all of the tax forms that you are receiving now and put it with all of your other importa... Don't Forget About These Frequently Overlooked Tax Deductions  By : Gray Rollins - When an individual files their tax returns each year they are able to claim a number of tax deductions. Many times a tax deduction can reduce the amount of money that is owed to the Internal Revenue Service (IRS) or it can create a larger tax refund. The most commonly used tax deduction is the standard tax deduction; however, there are number of other tax deductions that many individuals fail to claim or even consider. Frequently overlooked tax deductions can prevent a taxpay... Do Your Own Taxes with Online Software  By : Jeremy LaDart The tax preparation industry has become a multi-billion dollar a year business. The average filer this tax season will pay between $150 and $200 to get their returns done. Read this article before you pay someone, who probably doesn’t know more than you, to do your taxes. Helpful Tax Tips For Federal And State Tax Returns  By : Gray Rollins - Each year there are millions of Americans who prepare their own federal and state tax returns and even more individuals have their taxes professionally prepared. Whatever choice a taxpayer makes there are a number of important tax tips that everyone should know. A W-2 or 1099MISC is needed to accurately prepare a federal or state income tax return. There is always a chance that a taxpayer may misplace these forms or for one reason or another the forms may not have reached... Advantages And Disadvantages Of Using Tax Software  By : Gray Rollins - Each year millions of Americans have their taxes prepared by a professional tax preparer. Having tax returned professionally prepared reduces the likelihood of errors being reported on a tax return; however, professional tax preparation is often expensive. For this reason there are a large number of individuals who are making the decision to file their own federal and state tax returns. While it is possible to file tax returns the traditional way with paper tax forms there ar... Options For Filing And Reporting Small Business Taxes  By : Gary Ruplinger - Large and small businesses all around the United States are required to file and pay taxes. Small business taxes are applied and determined differently than those of larger corporations. To accurately report and pay small businesses taxes business owners are encouraged to follow these helpful preparation tips. Small business owners have the option of filing their own tax returns or they can hire the help of a professional. Professional tax help can come from a certified p... What To Do If You’re Being Audited  By : Gray Rollins - Audits are regularly issued by the Internal Revenue Service (IRS). There are two main reasons why an individual or business may be audited by the Internal Revenue Service (IRS). Random audits are not as frequent as they used to be; however, they do still exist. The majority of audits ordered by the Internal Revenue Service (IRS) are because they noticed a large mistake or they feel a taxpayer is trying to deceive them to receive a larger tax refund. Despite what many individu... What Is An Inheritance Tax And When Is It Applied?  By : Gray Rollins - When an individual passes, on the federal government imposes an estate tax. This estate tax only applies to estate properties that are over one million fifty thousand dollars. The federal government is still likely to tax an estate even if all or a portion of the estate is being handed down to other family members. Instead of imposing an estate tax in this situation, there many states that impose an inheritance tax. An inheritance tax is also commonly referred to as a dea... Sales Tax: What It Is And How It Is Imposed?  By : Gray Rollins - A sales tax is a tax that is placed on the purchases of goods or services. The federal government does not have a national sales tax. Qualifying products or services are only taxable by a particular state government. Each state has the ability to impose their own sales tax rate. At the current time Oregon, New Hampshire, Montana, Hawaii, and Delaware are the only states that do not impose a state sales tax. It is possible for different counties inside these states to impo... Filing An Income Tax Return  By : Gray Rollins - When the month of April rolls around most of America is preparing their income tax returns. Each year all individuals who made an income are required to report that income to federal and state governments by filing an income tax return. Taxpayers must file two separate income tax returns. One income tax return goes to the federal government and the other goes to the state government that a particular taxpayer resides in. The majority of taxpaying Americans are able to fil... How And Where To Find Valuable Tax Information  By : Gray Rollins - Taxpayers have two options when filing a federal or state income tax return. Taxpayers can have their tax returns professionally prepared or they can prepare their own taxes. Whatever tax preparation option an individual chooses, it is likely they will have a number of tax questions. To find the answer to a tax question many taxpayers research and review general tax information. Since each state has different tax laws and tax forms, taxpayers looking for tax information ar... Tips On How Your Bookkeeper Can Reduce Your Taxes By Hundreds Of Dollars  By : Cassandra Ingraham - Standard monthly expenses for your Business are transferred from you to your Tax Professional to be put on your Schedule C. No problem, most people get this part right. It’s the thousands of dollars in miscellaneous receipts that many people forget when under the haze of tax season. These miscellaneous expenditures can save a small business owner hundreds if not thousands of dollars in tax liabilities. Examples: 1. Advertising Cost – The standard deductions are always ther... What Does It Take To Pay Zero Taxes?  By : Wayne M. Davies - How many times have you heard someone say, "I don't pay any taxes. My accountant takes real good care of me . . . I haven't paid a dime in taxes in years." Does that outrageous statement sound familiar? Maybe it's your brother-in-law, or a fellow Soccer Mom, or a co-worker at the office. And so you think to yourself, "What am I doing wrong? How come I'm paying taxes and so-and-so says he/she pays nothing? How do they do it!" Is it really possible to pay "zero taxe... Options For Preparing Your Taxes  By : Gray Rollins - When tax season rolls around each year the are a number of individuals who need to decide how their tax returns will be prepared and filed. Each taxpayer has a number of tax preparation options. These tax preparation options can include self preparation or hiring the services of a tax professional. Individuals who makes the decision to hire the help of a tax professional are likely to hire an accountant or professional tax preparer. The majority of professional tax prepare... How The Gift Tax Works  By : Gray Rollins - Each year millions of Americans give a gift to other individuals that they know. Gifts can be considered anything from a new vehicle, to a trip, to a piece of land. A gift tax is a tax that is imposed when an individual gives away a certain amount of gifts that are considered valuable. According the Internal Revenue Service (IRS), an individual who gives a gift or a combination of gifts to one person that is valued at over eleven thousand dollars must pay a gift tax. The ... Unclaimed Tax Refunds: How To Claim Yours  By : Gray Rollins - When a taxpayer owes money on their taxes they need to pay the amount owed before the traditional April 15th deadline. If the amount owed on taxes is not paid before the deadline, then federal and state governments can impose a number of late fees and penalties. While there are penalties for failing to a pay taxes on time, there are no penalties assessed to individuals who are due a refund but fail to file their tax returns on time. http://www.taxhelpdirectory.com/taxfiling/ ... Estate Tax: What It Is And How It Is Filed  By : Gray Rollins - According to the Internal Revenue Service (IRS), an Estate Tax is a tax that is imposed on your right to transfer your property and belongings after your death. The individual who is in charge of handing and filing an Estate Tax return is often the estate representative. An estate representative can be a family attorney or a family member who was declared the executor of an estate in a will. When dealing with an Estate Tax, there are number of things that an individual or fam... Tax Advantages Of A Limited Liability Company  By : Matt Garrett - There are several advantages to establishing a limited liability company and many of these compensations revolve around the tax advantages. A limited liability company if often sought as a third alternative to forming a corporation or a partnership. Many corporations are formed because they offer attractive limits on the personal liability that the business may suffer due to debts or liabilities. Partnerships don’t offer the same kind of protection, but do provide better tax ... Tax Advantages Of Incorporating A Business  By : Stephanie Hetu - The tax advantages of incorporating a business is one of the main reasons that owners choose to incorporate their businesses, no matter what market they work in. Other types of businesses, such as sole proprietorships, are not afforded nearly as many tax advantages as an incorporation. A move called income shifting is one that helps the business, and its owners, immensely. This is a method in which the total income of your corporation is divided among its members. How doe... 1099-MISC Forms For Independent Contractors for 2005  By : Richard A. Chapo As we begin 2006, you’re probably not thinking about taxes at all. This is a mistake as deadlines are approaching for issuing and filing 1099s to independent contractors. Hybrid Vehicles and Tax Benefits  By : Richard A. Chapo You have to love car dealers. With the passage of the Energy Policy Act of 2005, car dealers are screaming about the tax benefits of buying these vehicles. Here’s the scoop. 2006 List of Tax Scams Released by IRS  By : Richard A. Chapo Every year, the IRS issues a list of tax scams. The goal is to alert taxpayers to the lack of merit of certain strategies as well as letting everyone know the IRS will not accept them. IRS Certifies 2006 Toyota Hybrid for Clean Fuel Deduction  By : Richard A. Chapo The Internal Revenue Service has certified the 2006 Toyota Highlander Hybrid as being eligible for the clean-burning fuel deduction. This certification means taxpayers who purchase one of these hybrid vehicles new during calendar year 2005 may claim a tax deduction of up to $2000. IRS Obtains More Than 100 Injunctions Against Tax Scheme Promoters  By : Richard A. Chapo The IRS announced it has obtained civil injunctions against more than 100 promoters of illegal tax avoidance schemes and fraudulent return preparers in an ongoing crackdown. Your IRS Tax Appeal Rights  By : Richard A. Chapo Are you in the middle of a disagreement with the IRS? One of the guaranteed rights for all taxpayers is the right to appeal. Are You Eligible For Any Of These Tax Credits?  By : Richard A. Chapo Taxpayers should consider claiming tax credits for which they might be eligible when completing their federal income tax returns. A tax credit is a dollar-for-dollar reduction of taxes owed. Reservists, Enlistees May Get Deferral of Back Taxes  By : Richard A. Chapo Reservists called to active duty and enlistees in the armed forces may qualify for a deferral of taxes owed if they can show that their ability to pay taxes was affected by their military service. Gambling Income and Expenses for Taxes  By : Richard A. Chapo Hit a big one? With more and more gambling establishments, keep in mind the IRS requires people to report all gambling winnings as income on their tax return. Early Distributions From Retirement Plans  By : Richard A. Chapo An early distribution from an Individual Retirement Arrangement (IRA) or a qualified retirement plan need not be a taxing experience. Fortunately, there are exceptions to early distributions. Need a Copy of Your Tax Return Information?  By : Richard A. Chapo Taxpayers have two easy and convenient options for getting copies of their federal tax return information — tax return transcripts and tax account transcripts — by phone or by mail. Accounting Methods - Cash and Accrual  By : Richard A. Chapo When starting a business, you have to determine the method you are going to use for accounting and paying taxes. The two choices are the cash method and the accrual method. Alternative Minimum Tax - Online Tool  By : Richard A. Chapo Hell hath no fury like a person who just found out the alternative minimum tax applies to them. The IRS has set up an online tool to figure out if you do. Automobile Expenses - Tax Write-Offs  By : Richard A. Chapo If you use a vehicle for conducting business, you can deduct certain automobile costs from your tax bill. This is true even if you use the vehicle for personal and business needs. Deducting Points On Home Refinances  By : Richard A. Chapo The real estate market was hot in 2005. Many people refinanced once or even twice. So, what are the tax implications? Doh! IRS Loses Taxes In San Francisco Bay  By : Richard A. Chapo On September 23, 2005, the Internal Revenue Service began sending notices to tax payers in thirteen states that there may be a problem with their tax payments. Here is the scoop. Donating Cars To Charity - New Tax Rules  By : Richard A. Chapo On June 3, 2005, the IRS released guidance on charitable deductions for donated vehicles. The American Jobs Creation Act (AJCA) radically changed the amount of the deduction taxpayers can claim for their donated car. Employment Taxes - Depositing With The IRS  By : Richard A. Chapo If your business has employees, you must pay employment taxes. The payment system can be a bit confusing, so this article discusses how to go about depositing employment taxes with the IRS. Employment Taxes - What Are They?  By : Richard A. Chapo If you have employees, you are responsible for paying a variety of taxes at the federal, state, and local levels. You must also withhold certain taxes from the paychecks of your employees. So, what are employment taxes? Help Me Prepare My Taxes  By : Richard A. Chapo Nothing leads to more gnashing of teeth than the thought of preparing your own taxes. Fortunately, there are people out there that do it for a living. Should You Itemize?  By : Richard A. Chapo When you finally decide it is time to prepare your taxes, the first question is whether you should itemize your deductions or take the standard deduction provided by the IRS. Marriage and Taxes  By : Richard A. Chapo Getting married is the greatest day for 50 percent of couples. The other 50 percent get divorced. Perhaps the marriage tax penalty has something to do with it. Tax Returns for the Deceased  By : Richard A. Chapo Two things in life are certain – death and taxes. Here’s what to do if the two are combined as far as filing a tax return. Taxpayer Advocate – Customer Service at the IRS  By : Richard A. Chapo Every business has a department that deals with complaints from customers. At the IRS, this department is known as the taxpayer advocate office. Failure To Pay Employment Taxes - Penalties  By : Richard A. Chapo As an employer, you must pay employment taxes if you have employees. Fail to pay and the IRS will rain all over your parade. Fraudulent Tax Shelters - KMPG Goes Down Hard  By : Richard A. Chapo In the largest criminal tax case ever filed, KMPG has copped a plea to using fraudulent tax shelters to bilk the government out of 2.5 billion dollars. KMPG has agreed to pay a fine of $456 million dollars, but nine of its executives still are under indictment. Gambling Income and Expenses - Tax Requirements  By : Richard A. Chapo Hit a big one? With more and more gambling establishments, keep in mind the IRS requires people to report all gambling winnings as income on their tax return. Home Office - Tax Perspective  By : Richard A. Chapo Self-employed individuals often work out of their own home. If this is the case with you, here’s a primer on what you can write off for your home office. How to Check the Status of Your Tax Refund Online  By : Richard A. Chapo So, you were pleasantly surprised to learn that you are getting a refund on your taxes. Congratulations! The question for most taxpayers expecting a return is, "Where is my refund?" The History of Income Tax  By : Richard A. Chapo They say death and taxes are the only two certain things in life. Alas, this wasn’t always the case. Well, at least for the income tax. Understanding Marketing Tax Deductions  By : Richard A. Chapo Marketing is a necessary expense in running practically any business and the IRS acknowledges as much. Victims of Hurricane Katrina - IRS Gives Tax Relief  By : Richard A. Chapo In response to the devastation along the Gulf Coast, the IRS is giving tax relief to victims of Hurricane Katrina. The IRS seems to realize it is hard to file your taxes if your home or business is gone. What You Need To Know About Taxes If You're Getting Married  By : Richard A. Chapo It may not be high on the list of wedding planning activities, but there are a few simple steps that can help keep tax issues from interrupting your newly wedded bliss. If you recently married, check out your new tax situation. You might save money or even prevent the problem of a missing refund check. Are You Overpaying Taxes If You Use Tax Preparation Software?  By : Richard A. Chapo For many business owners the answer to this quandary is tax preparation software. Fill out a fairly simple interview, click “print” and out comes a completed return that will pass muster with the IRS. The answer to all your problems…or is it? Create Tax Savings And Transfer Wealth To Your Child With A Roth IRA  By : Richard A. Chapo Parents must give serious thought to protecting their family through estate tax planning. While life insurance and trusts should be a part of every plan, Roth IRAs can be a simple tool for passing money to your child on a tax-free basis. Getting Help With Your Taxes  By : Richard A. Chapo Preparing your taxes can be incredibly stressful. In many cases, it just makes sense to get some help with them. IRS Gives Victims of Hurricane Katrina More Relief  By : Richard A. Chapo The IRS has announced further tax relief for victims of Hurricane Katrina due to slow clean up efforts and obviously devastated areas. Automatic Extension Requests For Businesses  By : Richard A. Chapo The internal revenue service has recently been taking steps to cut down on clutter and streamline the tax filing process. Now they’ve simplified business tax return extensions. Your Tip Earnings and Taxes  By : Richard A. Chapo If you work in a service where you get tips, guess what? The IRS expects you to report them and pay taxes on them. Capital Assets – Gains and Losses for Taxes  By : Richard A. Chapo Capital is a unique term when it comes to taxes. If it gains value, you pay a tax. If it loses it, you can write at least some of the loss off. Tax Changes You Should Know for 2005 Returns  By : Richard A. Chapo Every year, you have to file tax returns and every year there are changes to the tax code. Here are some key changes for 2005 to keep in mind when you prepare returns. Hurricane Katrina - Businesses Can Claim Casualty Tax Losses  By : Richard A. Chapo Hurricane Katrina has left a wide and long path of destruction. Besides the human toll, businesses on the Gulf Coast have taken a beating. If yours is one, here is how you can write off casualty losses on your taxes. Hurricane Katrina - How To Use Your Business Loss To Get A Refund on 2004 Taxes  By : Richard A. Chapo With the massive losses caused by Katrina, the economy of the Gulf Coast region is in extremely bad shape. Fortunately, there is a quirk in the tax code that can help you generate a large refund from your 2004 taxes. Identity Theft - Impacting Your Taxes?  By : Richard A. Chapo If your identity is stolen, your finances can quickly become a nightmare. A less obvious problem is the effect identity theft can have on your taxes. Industry Tax Issue Resolution Program  By : Richard A. Chapo For roughly the last ten years, the internal revenue service has made a fairly major effort to be more taxpayer friendly. The Industry Tax Issue Resolution Program is one such step. Help With Ex-Spouse Tax Problems  By : Richard A. Chapo Historically, tax issues arising from bad marriages fell into the category of "better or worse" in the marriage vows. The IRS historically considered spouses one person for tax purposes, but has changed its views. Tax Strategy - Leveraging Rental Property Equity  By : Richard A. Chapo Owning investment property is a tremendous wealth building strategy. Thousands upon thousands of individuals have amassed great wealth by investing in rental properties. IRS Lock-In Letters - What's An Employer To Do?  By : Richard A. Chapo Employers often ask employees to designate the amount of tax withholdings for paychecks. Occasionally, employees will fail to withhold a sufficient amount in the eyes of the IRS. The IRS will then send a “lock-in” letter on the amount to be withheld. What’s an employer to do? Paying Workers - What Can You Write-Off?  By : Richard A. Chapo 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. Rental Property Tax Deductions  By : Richard A. Chapo Own residential rental properties? This article discusses how income from those properties impacts your taxes. Section 179 - Tax Relief From Depreciation Rules  By : Richard A. Chapo Depreciation. For business owners, this word is the one most likely to inspire headaches and fits of cussing. The expanded provisions of Section 179 are just the medicine you need to cure the depreciation blues. Self-Employed - Tax Approaches  By : Richard A. Chapo Self-employed individuals always cringe at the amount of taxes the pay to the IRS and state. Here are different approaches for minimizing self-employment taxes. Small Business Tax Deduction - Write-Off Bad Debts  By : Richard A. Chapo Practically every small business has receivables that it cannot obtain from clients. If your small business doesn't have any such receivables, consider yourself lucky. For those small businesses that suffer from uncollected receivables, solace can be taken from the fact you can claim a tax deduction. Small Business Tax Issues for Self-Employed Individuals  By : Richard A. Chapo The United States is a nation of entrepreneurs. There are literally tens of millions of self-employed individuals that enjoy pursuing their dream business. Of course, few of you enjoy the paperwork and confusing tax issues that arise from owning your own business. Small Employers Rejoice - IRS Simplifies Filings  By : Richard A. Chapo One of the largest burdens on very small employers is dealing with taxes. Fortunately, the IRS has taken a major step to reduce this burden. Standard Mileage Deduction Rates - 2005 and 2006  By : Richard A. Chapo If you’re in business, you’re interested in the IRS mileage deduction rates. The 2005 rates fluctuated because of high gas prices and now the 2006 rates have been released. Tax Deduction for Alimony Payments? - Yes!  By : Richard A. Chapo Over 50% of marriages end in divorce in the United States. Many divorce decrees include provisions for the payment of alimony. The IRS takes the position that such payments constitute a form of income and create an alimony tax deduction for the person making payments. Tax Jokes and Quotes  By : Richard A. Chapo Tax jokes and quotes to take the edge off of tax season. Tax Records - What You Should Keep And For How Long  By : Richard A. Chapo Many taxpayers are confused about how long they should keep tax records. IRS Holding $2 Billion In Unclaimed Tax Refunds  By : Richard A. Chapo Every year, the IRS announces that it is holding unclaimed tax refunds. Taxpayers have a limited time to claim the $2 billion dollars the IRS is currently holding. 10 ways to cut your property taxes  By : Paul Wilson Property taxes are decided collectively by school boards, town boards, legislators, and councils. The tax rate is set by collating the amount of funds an area needs. This is then divided that by the “total taxable” assessed value of the area. [1] [2] [3]	Authors Sign Up for a free account. Submit your articles. 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