What You Will Need to File While Preparing Free Federal Taxes? United States taxation includes local government, possibly including one or more of municipal, township, district and county governments. It also includes regional entities such as school and utility, and transit districts as well as state and federal government. Though there is an easy way to efile your 1040 tax forms absolutely free.There are variant categories...more
Car Donation Tax Deduction Is A Matter Of Choice Most people do not even think of donating their used cars to charitable organizations for a tax deduction when it comes time to purchase a new one. The reason for this has to be that most wish to use the value of the vehicle to go toward paying off the new purchase. However, there are many reasons that make donating a used car to charity a great idea. The first reason of course, is...more
8 Tax Deductions You Didn't Know About If you're a seasoned tax filer, you don't ever overlook tax deductions like mortgage interest, student loan interest, real estate property taxes, and state taxes. Still, plenty of little-known tax deductions hide deep in the tax code, tricking you into leaving tax refund money on the table.This list of commonly overlooked personal tax deductions will help beginners and experts alike discover major savings this tax year.Major Purchases, Family and Home1. Dependent parents. If you're providing more than 50 percent of your parents' financial support, and their expenses exceed 7.5 percent of your adjusted gross income, you may qualify for a big deduction.2. Sales tax on a new vehicle. This deduction comes with a lot of restrictions and stipulations -- If you purchased a new car recently, you may be able to deduct the sales tax on the purchase, even if you don't itemize your deductions. Depending on your filing status and income, your deduction might be a little lower. ( is not applicable if you make more than $135,000)3. Origination Fees and Mortgage loan discount. If you have purchased a house...more
The Challenges of Effective Offshore Tax Planning From the Managing Director, Healy ConsultantsLast week, media attention was brought to an article published by The Guardian, "Swiss whistleblower Rudolf Elmer plans to hand over offshore banking secrets of the rich and famous to WikiLeaks", the second instalment of a three-part series...more
Getting Through Tax Season 2011- Stress Free! Tax season can be a stressful time for many. Finding the time to pull all your financial documents together, keeping those documents straight, finding an accountant…it can be draining. Whether it's an individual, corporate, partnership, not-for-profit, estate, trust or gift tax...more
Death And Taxes, Nothing More Certain We all hate to pay taxes, but refusing or forgetting to pay them every year will bring big problems for those who think that they can get away with it. In fact, the taxman has several courses of action that he can take to make sure that he gets his pound of flesh so the tax payer should be aware of this. One such way is for the taxman to apply IRS wage garnishments (WG). The other is of get an offer of compromise (OIC) from the debtor so that something can be worked out equitably.Just about everyone lives in fear of being audited, but sometimes even the tax man can get things wrong. Arguing only brings frustration, but for those who absolutely know that a mistake has been made, or there are extenuating circumstances, there is a glimmer of light at the end of the tunnel.For example, an OIC can be made by the debtor in one of several ways. If there is any doubt at all that the tax cannot be paid in full, whether this is all at once or over the period allowed in law to collect the tax, the debtor can ask to have the debt deferred. Since this person is unlikely ever to be able to pay, sometimes the tax man has to take the loss and...more
Has Your Name Been Forged On A Tax Return? When a spouse establishes his or her signature on a joint return was forged and there was no tacit consent to the return as filed, the joint election will be invalid.Again, the relief from...more
Taxes and Their lease - Lease Options There are some interesting and lucrative advantages of using options and forced optionor optionee of real property. In general, the choice of "money is not taxed optionor TO option is exercised,...more
Disputed Taxes in The United Kingdom Taxes are something that we can always count on, something that's always going to be there. But in the UK they seem to be taking things a step further and placing taxes on some things that are...more
Taxes, Only the Rich Pay Every election year for at least the last forty years we have heard the same old rhetoric from the left. We're going to raise the taxes on only the rich, give every one else huge sums of money and...more
Income Tax Neon Signs – Direct and Smart Ads You Can Use Within the Base of Your Accounting Firm Tax and accounting firms are in abundance in the financial district. If you happen to run this type of business, it would give you more...more
Maximize Your Tax Firm's Visibility with Income Tax Neon Signs Embarking on a journey to start your very own tax firm may sound to be a major daunting task. Like every entrepreneur out there, you wouldn't wish to fail in this...more