- IRS Levy And Garnishments by Henry Byers
Unfortunately to many of us the Internal Revenue Service (IRS) is one branch of government that can never be our friend and is often feared by some less reputable business owners. When the IRS is owed money, they will get it whether you like it or not.
494 words 2006-07-23 - Small Business Tax Tips - Product Review of Tax Reduction Toolkit by Mike Matthews
Product Review – IntroductionProduct Review – What I likedProduct Review – What I didn’t likeProduct Review – Best Features SummaryTable of Contents – Seven Sections – 29 Tax TipsFinal Comments and Pricing (under $40)Suggested Books & Reference URLsPreview the ‘Tax Reduction Toolkit’ at:
1020 words 2006-07-23 - Business Tax Loophole: Leasing Assets To Your Corporation by Alex Goumakos
While there are many equally valid reasons to incorporate, saving money on taxes is a consideration that can yield relatively immediate results. Leasing assets to your corporation is a tax strategy you should absolutely consider if you already have a corporation or are thinking about forming one.
649 words 2006-07-22 - 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.
679 words 2006-07-21 - Easily-Missed Tax Deductions that Every Realtor and Entrepreneur Should Know by Chris Bird
Year-end Tax Planning Deserves Year-around ConsiderationThe reason so many IRS deductions go unclaimed - business owners don't know about them. Or they don't know about them early enough in the year to collect necessary information as they go along.
673 words 2006-07-21 - Tax Reform – Limit of Mortgage Tax Deduction by Dan Lewis
A committee appointed by President Bush has come up with an alarming recommendation. They want to limit the tax deduction for mortgage interest! ReformFollowing his re-election, President Bush set up an aggressive agenda in which he hoped to reform social security and the tax code amongst other things.
359 words 2006-07-21 - How To Get An Extension To File Your Business Tax Returns by Richard A. Chapo
Yes, the tax season is upon with the first filing date for some businesses being March 15, 2005. If you can’t imagine getting your tax returns together by that date, you need not worry. The IRS automatically gives you an extension if your file the appropriate form.
550 words 2006-07-21 - Home Based Business: Income Tax Information by Tina Rideout
Understanding your Tax obligations relative to your Home Based Business can be a confusing issue. The IRS has been more attentive to the claims made by Home Based Business operators; therefore it is imperative that we educate ourselves about our obligations and responsibilities.
240 words 2006-07-21 - The Ifs and VATs of Taxation in Macedonia - Should VAT be Applied in Macedonia? by Sam Vaknin, Ph.D.
To be justified, taxes should satisfy a few conditions: Above all, they should encourage economic activity by providing incentives to save and to invest. Savings - transformed into investments- enhance productivity and growth of the economy as a whole.
3230 words 2006-07-21 - Deciding when to File a Tax Return? by Keith Hoyng
April 15th – “The Day of Reckoning”! Every year, millions of Americans get ready to pay taxes to Uncle Sam, or get ready to collect a tax refund from Uncle Sam; when did this become the great day that it is for taxpayers, and when are we actually required to file a income tax return?
967 words 2006-07-20 - How to Save Taxes with an S Corporation by Stephen L. Nelson, CPA
Ever wondered why so many small businesses—more than 3,000,000 at last count—operate as an S corporation? Simple. An S corporation saves business owners big taxes in three separate ways:
692 words 2006-07-20 - Business or Hobby...What Would the IRS Call YOUR Business? by Direct Selling Women's Association
One thing we know for sure… direct sellers start their businesses for a wide variety of reasons. Some want to build a dynasty, some want the tax benefits, some do it to buy and share a product they believe in, while others are simply looking for a way to have fun and make a little money on the side.
1082 words 2006-07-20 - 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.
483 words 2006-07-19 - Small Business Tax Trap #1: Waiting To Incorporate -- What A Difference A Date Can Make by Wayne M. Davies
If you're a sole proprietor, perhaps you've consideredincorporating your small business or self-employmentactivity. And so maybe you've been wondering,"When is the best time to incorporate?
525 words 2006-07-19 - Payroll Taxes by Matt Bacak
If you have employees, you are responsible for payroll taxes. This is a term that lumps all the different forms of employment taxes into one category known as “payroll tax”. In reality, payroll taxes encompass Federal and state income tax withholding, social security and Medicare taxes (also known as FICA), Federal unemployment tax (FUTA), as well as any state and local unemployment taxes assessed.
426 words 2006-07-19 - Tax Reform, My Way by Terry Mitchell
We need real tax reform and we need it now. Previous attempts have been made at tax reform, but they have only provided band-aid solutions that have still left us with too many quirks, complication, and read tape.
569 words 2006-07-19 - Ten Top Tax-saving Ideas at Year-end by The National Association of Black Accountants
Popular techniques for individuals and business ownersNow is a good time to figure out how to cut your 2004 tax bill. Although everyone's situation is different, the National Association for Black Accountants www.
840 words 2006-07-19 - Internet Marketing: Get Your Tax Money Back by Daniel Detlaf
Tax deductions for business expenses aren’t just for large corporations. As an Internet marketer or online entrepreneur it is important to know what you can and cannot deduct to save money on your taxes.
325 words 2006-07-18 - Reduce Your Tax Payments by Jakob Jelling
Reduce your tax payments by claiming an interest payment deduction. If you are busy paying off your student loans, the last thing you want to do is to pay interest on the money that you're about to give right back to the government.
379 words 2006-07-18 - Know A Tax Cheat? Get Paid To Tell The IRS by Jeffrey Strain
According to the IRS, taxpayers underpay their taxes by some $300 billion. If you know someone that is contributing to that deficit, the IRS may be willing to pay you up to $10 million for the information you provide.
318 words 2006-07-18 - Getting Help With Your Taxes by Richard Chapo
Preparing your taxes can be incredibly stressful. In many cases, it just makes sense to get some help with them. Save Me From This Misery! When it comes time to file taxes, you can look to software or a real live person.
415 words 2006-07-17 - Self-Employment Tax by Matt Bacak
Who must may self-employment tax? If you are self-employed, you will be responsible for self-employment tax. For the purpose of determining self-employment tax, you are self-employed if you are a sole proprietor, an independent contractor, a member of a partnership, or are otherwise in business for yourself.
382 words 2006-07-17 - Local Taxes by Matt Bacak
Local taxes are an even further extension of the federal income tax withholding, just on the local level. Businesses that operate in a particular state will generally be able to access information their particular locality through their state's revenue office.
332 words 2006-07-17 - 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.
686 words 2006-07-16 - Collecting The Levy by Henry Byers
The Financial Management Service (FMS) is a bureau of the Department of the Treasury, to provide a centralized debt collection service to most federal agencies. The FMS has begun utilizing two Congressionally mandated federal debt collection programs.
466 words 2006-07-16 - Do Your Own Taxes with Online Software by Jeremy LaDart
Taxes are so complicated that it has become a year-round job just to keep up. Everything you do throughout the year has an impact on your taxes. Did you get married? Did you buy/sell a home?
309 words 2006-07-15 - 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.
763 words 2006-07-15 - What Are The Taxes On Earnings? by Jakob Jelling
Almost all governments across the globe are funded– in some form – by the taxation of its citizens. Certain of the taxes are collected at the time of sales or service whereas certain others in a 12 month period or at the end of what they call a fiscal year.
563 words 2006-07-15 - Understanding Employee Taxes by Matt Bacak
Employee taxes can be one of the most difficult to understand areas of running a business and hiring employees. If you don't understand all of the complexities involving employee payroll tax, it can also get you into a heap of trouble.
583 words 2006-07-14 - 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.
343 words 2006-07-14
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