Many income tax problems start with marriage, divorce and death. Many people who are single file their own return and then don’t worry about owing because they are simply filing a W-2. They either know that they owe or get a refund. A refund is the best thing to get in the […]
A good tax shelter is hard to come by, but the perfect shelter may be right in front of your eyes. There are many companies which are encouraging people to spend their hard earned money on investments in tropical places where it will be kept safe and away from the IRS. Yes, this […]
A big advantage of working from home is the tax benefits of operating a home based business. Working from home allows you to deduct portions of bills that you are already paying to live there.
You can deduct home expenses if you actually work in your home. It is easiest to do this if you […]
When donating your car to your favorite charity, the Internal Revenue Service (IRS) wants you to be aware of certain pitfalls. After December 31, 2004, taxpayers planning their charitable giving, donors should understand the way that the American Jobs Creation Act of 2004 will alter the rules for the contribution of used motor vehicles, boats […]
One of an American citizen’s worst fears is an audit by the IRS. The unlucky individual who is the target of an audit begins to conjure up images of penalties, fines, levies, or worst of all, jail time. Even the most honest of taxpayers, under the scrutiny of an audit, begins to think back in […]
Are you paying too much in income taxes? Are you getting all the credits and deductions you are entitled to? Here are 7 tips to help you minimize taxes and keep more in your pocket:
1. Participate in company retirement plans. Every dollar you contribute will reduce your taxable income and thus your […]
Tax Help - The More You Know, The More You Save
It’s no wonder that people need tax help. After all, the Internal Revenue code is tens of thousands of pages long and grows longer by hundreds of pages each year.
Nobody can ever achieve complete mastery of the tax code. In fact, the tax code […]
Tax Preparation - Tax Tips For Investors
As the tax code grows by several encyclopedia volumes each year, more and more tax preparation services and software programs spring up all over the country.
Proper preparation is something to take very seriously, as the amount of money illegally saved by tax cheats is said to be dwarfed […]
With so many tax software programs on the market, many people are foregoing tax professionals and preparing their own taxes. However, choosing the software program that best fits your needs can be a daunting task.
Do you need tax software made for a business or an individual? How much can you afford to spend on […]
Many people ask me if they are required to report the profits they earn on items they sell on eBay on their income tax return. In short, yes.
If you sell items on eBay for a profit, then you should report your eBay sales on your income tax return, and you may owe income taxes […]
