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Top Ten Things You Need to Know About Making Federal Tax Payments
Source: irs.gov Will you be making a payment with your federal tax return this year? If so, here is what you need to know about making tax payments correctly. 1. Never send cash! 2. If you file electronically, you can file and pay in a single step by authorizing an electronic funds withdrawal via tax preparation software [...]
Continue reading...Stimulus Rebate and Dependents
1. July 2009
Source: taxtipsblog.com People claimed on another’s return do not qualify for the Stimulus Rebate. When deciding if parents should claim their child for one last year, the Stimulus Rebate should be considered. There are no age limits on the Rebate that I am aware of. We often compare the total taxes a family would pay [...]
Continue reading...Red Flags in Taxes
15. June 2009
Recent years have found an increase in the number of audits performed by the IRS on taxpayer income returns on taxes. They have been focusing on high income individuals (many tax loopholes exist, you know), Schedule C (sole proprietors) filers, partnerships, abusive tax shelters, and corporations in general. If your income tax return stands out [...]
Continue reading...Tax Advantages in a Home Business
29. May 2009
Source: greattaxtips.info Every year, several thousand people develop an interest in going into business. Many of these people have an idea, a product or a service they hope to promote into an in come producing business which they can operate from their own homes. If you are one of these people, here are some practical thoughts to [...]
Continue reading...Top 10 Year-End Tax Tips
20. May 2009
Source: Tax-tips.org Whether you are flying high with savvy investments, rebounding from recent losses, or still struggling to get off the ground, you can save a bundle on your taxes if you make the right moves before the end of the year. But be careful. Some easy-to-follow advice that you read in the papers, or hear [...]
Continue reading...Top Ten Facts about Amended Returns
18. May 2009
Source: Internal Revenue Service, United States Department of the Treasury Taxpayers who need to make a change or adjustment on a return they already filed can do so by filing an amended return. Here are the top 10 things every taxpayer should know about amending your federal returns of taxes. 1. Taxpayers needing to amend their return [...]
Continue reading...3 Ways to Reduce Tax Bill
28. October 2008
Paying taxes is a part of life, it’s something that we can not avoid. But the amount you pay makes a big difference! There are ways to reduce the amount you owe at tax time, and this article will list three ways for you to start. 1. Make use of tax credits. Everyone knows that tax credits [...]
Continue reading...Taxes Deducted as Business Expenses
28. October 2008
Do you own your own business? My hat is off to you. Owning a business is hard work and keeping it running and making a profit is even harder. Who wants to pay more to the government than they have to? Below is a list of taxes that you may pay as a business owner [...]
Continue reading...Tax Planning is a Good Move
28. October 2008
Tax planning is a good idea. Many people get caught unawares when tax time comes. They say that they wish they had planned better so they could avoid some of the problems that they encountered. Let that be your one-time wake up call. Tax planning involves sorting out your tax situation ahead of time so that [...]
Continue reading...Tax Credits Reduce Amount of Taxes
21. October 2008
Most people are filled with fear when it comes to doing their taxes. People start fearing what would happen if they filled in wrongly, and will there be penalties from IRS. What if you forget something? If you want to reduce your tax bill and your anxiety, why not use tax credit? Tax credit [...]
Continue reading...Standard versus Itemized Tax Deductions
17. October 2008
When it comes to deductions and tax returns, do you know all your options? Many people use the 1040EZ or 1040 forms, like you, they don’t know all the options out there. This article will highlight some facts concerning both types of deductions. The 1040 form is for standard deduction that depends on your tax filing [...]
Continue reading...5 Great Tips for Taxes
14. October 2008
Everyone dreads that time of year when we have to file your taxes. You’ll never know if it’s going to be a payment or a refund. This article will show you how to plan for taxes so you will be better prepared next year. Here are five things you should consider: 1. How much allowances [...]
Continue reading...Learn How to Minimize your Tax Liability
3. October 2008
Many people get the tax time jitters… You wait anxiously for your accountant to tell you the good news or the bad news. But it doesn’t always have to be like this. You can help yourself by minimising how much money you could owe at the next tax year. Know your tax returns can go a [...]
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7. July 2009
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