 Category :: Taxes Articles |
Author :: Bill Mitchell  |
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| Article Title :: Debt and Denial - During the Tax Season |
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| With the tax filing date quickly approaching, you must prepare your taxes again, and on time. This time of year, finances are always a priority for us, but did the thought ever occur to you that cheating spouses are spending money without telling you?“Once a cheat always a cheat” as the old adage goes. If they will cheat on you, count on it - Uncle Sam is next. “And this means possible IRS problems. The problem for most victims of infidelity is denial. Coping with powerful feelings of trust and mistrust keep many in the dark.Cheating spouses account for millions of dollars each year in travel, gifts, phone charges, and more as they philander. Taking an assessment of (read full article) |
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| Category :: Taxes Articles |
Author :: Paul W Wilson |
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| Article Title :: Stupidest Tax Mistakes To Avoid This Time Around |
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| As the season to fill tax returns and forms approaches people get confused and nervy. The IRS dons the role of a huge brooding monster that is all set to devour you. Unfortunately most of us keep postponing filing of papers and putting our affairs in order until the very last minute and then confusion and stress reign supreme.The last minute dash and the lack of knowledge of tax laws, depreciation formulas, and deductibility guidelines can land you in a soup. And, this means coughing up precious dollars that you could find better use for.Errors however small can result in payment of higher taxes and can mean a delayed or no refunds. As in everything, the way to smoothen thin (read full article) |
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| Category :: Taxes Articles |
Author :: Vincent Murphy - |
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| Article Title :: Home Business Taxes |
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| Just the thought of taxes can scare people out of their minds. You have to keep all your records and documents in order to be able to file easier at the end of the year. Home business owners have their own set of allowable deductions that differ from other businesses. You have a chance to save a lot of money by knowing how to take advantage of you home business situation.
Know what your deductions are. There are several deductibles that the home-based business owner is entitled to. There are auto/vehicle deductions that can help with mileage, gas, insurance, and/or other related expenses. You can write off your business cards and stationary, plus any business meals and entertain (read full article) |
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| Category :: Taxes Articles |
Author :: Alan D Campbell |
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| Article Title :: Start-up Costs - How to Deduct Them |
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| A new business owner incurs start-up costs before beginning the business. Under Section 195(c)(1), start-up costs are costs the taxpayer incurs to investigate the creation or acquisition of a business or in creating a business. The costs must be costs that would be deductible as an ordinary and necessary business expense if the taxpayer was actively conducting the business.In general, a taxpayer may not deduct start-up costs until the taxpayer sells the business. That is the default rule of Section 195(a). However, for start-up costs paid or incurred after October 22, 2004, a taxpayer may elect to deduct start-up costs to the extent allowed by Section 195(b)(1)(A). Under Sectio (read full article) |
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| Category :: Taxes Articles |
Author :: Jan Verhoeff |
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| Article Title :: Tax Credits: Getting Your Share |
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| Tax Credits – those insignificant questions at the end of the form where you actually get to add money back – do you read them? Do you often look them over and wish you understood them?If you are paying more taxes in at the end of the year, chances are good that you should have some kind of credits coming…But what kind? Where do you find that information?If you hired a qualified tax professional to do your taxes, they should be asking questions that will help you get the most value from your tax preparations. There are specific directive forms from IRS that do help with figuring those credits. But you have to do a lot of research to find them. Is it worth the ti (read full article) |
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| Category :: Taxes Articles |
Author :: Richard Chapo |
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| Article Title :: Giving To Charities - Tax Deductions and Such |
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| The tax code in the United States contains many provisions to promote certain behavior. One area of behavior is the promotion of giving to qualified charities.Giving To Charities – Tax Deductions and SuchIn the rush to get tax returns prepared and filed, many people absentmindedly forget to include deductions for contributions to charities. If you itemize deductions on your tax return, this can be an expensive omission.Pursuant to relevant provisions of the tax code, you can take significant deductions if you donate money or goods to a qualified charity. A qualified charity is one that is registered with the IRS as a 501c3 entity. The 501 designation refers to the r (read full article) |
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| Category :: Taxes Articles |
Author :: Richard Chapo |
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| Article Title :: Giving Your Car to Charity - The New Tax Rules |
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| The IRS has changed the regulations on donating vehicles to charities. If you donated a car last year, you need to read the following to understand the new rules.Giving Your Car to Charity – The New Tax RulesMillions of people donate cars, boats, RVs, motorcycles and many other forms of transportation to charities each year. While doing a good thing is one motivation, reaping a sizeable tax deduction is also a motivating factor. Unfortunately, the IRS has concluded that more than a few people were deduction very optimistic values for their cars. Instead of auditing everyone, the IRS simply changed the deduction rules for vehicle contributions to charity.If you dona (read full article) |
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| Category :: Taxes Articles |
Author :: Richard Chapo |
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| Article Title :: Tax Deductions for Your 2005 Hybrid Automobile |
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| With the recent push by President Bush for alternative fuel strategies, much confusion has arisen regarding tax incentives for hybrid vehicles. This article clarifies the issue for you.Tax Deductions for Your 2005 Hybrid AutomobilePeople buy hybrid vehicles for different reason. They are good for the environment. They get much better mileage, which saves money. There are tax incentives for buying them. With the recent energy plan put in place by the federal government, there is a lot of confusion regarding the tax incentives.Specifically, the question for most people is whether they can claim a tax deduction or a tax credit when they buy a hybrid. Here is the breakdow (read full article) |
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| Category :: Taxes Articles |
Author :: Jason Webb |
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| Article Title :: Obligated Tax |
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| I like most American’s complain about taxes and how the rich keep getting richer and the poor keep getting poorer. You’ve heard the arguments, the poor can’t pay taxes because they are poor, the rich don’t pay enough, and the middle class is left to pay the brunt. I complain not only as a cynic but also as a hopeful citizen that someday, something will change. I don’t wish to be seen as a socialist nor a bigot along class lines. I just want everyone to pay a fair share of the collective burden as our founding fathers intended.Do you think the rich have paid their fair share? Do you feel that after paying taxes on several hundred thousand dollars the burden should be lesse (read full article) |
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| Category :: Taxes Articles |
Author :: Richard Chapo |
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| Article Title :: Tax Incentives for Saving for Education |
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| Recent statistics show Americans are simply not saving money for the future. To encourage savings, the government has come up with tax incentives.Tax Incentives for Saving for EducationHigher education in America is an expensive proposition. If you have a child in college, I hardly need to tell you this. While every parent is proud of a child pursuing education, the glorious event can make for some sleepless night when thinking about how to pay for it. If you have young children, the government has taken steps to make saving for college attractive from a tax perspective.There are a number of different tax incentives to promote saving for education. One such program is (read full article) |
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