Property Tax Assessment- Free Helpful Guidpost For Property Tax Assessment If you are looking for a stable monthly revenue in real estate, investing rental property is a good option. Every month, you get to keep a fixed amount in your pocket. If you plan of renting out your property, below are some tips that may be able to help you have a profit-making real-estate business. Consider this advice when researching the earnings potential of...more
Few of us ever test our powers of deduction, except when filling out an income tax form - Laurence J. Peter, U.S. EducatorBy understanding business tax deductions, business owners may enjoy personal benefits from business expenditures entertaining clients or donating to charitable organizations, - if they follow the myriad tax rules.Only half of business entertainment expenses can be deducted. Eligible business entertainment consists of taking a...more
Tax Basics You Need to Know – Save More on Your 2010 Taxes As we head into 2011, it's time to truly understand your taxes. Let's face it, it's a lot better to get money back each year than to owe money. Fortunately when you take the right steps now, you can make sure that you get the best results. So let's go over some tax basics. First, let's explore the difference between tax deductions vs. tax credits. A tax deduction is an amount of money or expense taken "off the top" from your gross income. Examples of a deduction would be your traditional IRA contributions, 401(k) or 403(b) contributions, student loan interest, etc. After all the deductions are subtracted from your gross income, you are left with your adjusted gross income (AGI). Subtracted from your AGI is your standard deduction or itemized deduction. After "all is said-n-done" you are left with your taxable income. This amount determines how much tax you will owe known as tax liability, or many refer to it as your tax bill. A tax credit is a dollar-for-dollar reduction. This amount is not taken "off the top" from your gross income, but, rather is subtracted from your tax bill. For example, your tax bill...more
A list of the Various IRS Help for American Tax Payers Volunteer Tax Assistance, Toll-free telephone programs, and the Walk-in Assistance are just some of the many IRS Help you can use if you want to pay your taxes without fuss. Now, let us enumerate each one of these programs and discuss how it may help American tax payers.Volunteer Income...more
QROPS Dubai- Tax Free Advantages Being a tax haven, QROPS Dubai is the answer for expatriates to enjoy the tax free benefits on their pension. Dubai, known for its oil and wealth, is now also a major financial and tourism center. With all the duty free shopping and a five star lifestyle, it has become a major destination for many expats,...more
Does H1, L1 Tax Situation require Special Treatment? Can H1, L1 visa worker tax situation be treated like ordinary Tax Payers filing 1040 Tax Return or does it require any special treatment? Most of the popular tax software and tax consultants may treat H1, L1 1040 tax returns no different than ordinary US citizen Tax Returns. However, IRS regulation allows for special treatment in case of temporary workers in the US. There are specific guidelines in the IRS code to determine the tax status as well as calculate deductions based on special conditions due to temporary work status. Since H1, L1 tax payers account for less than 1% of all Tax Payers, most popular tax software and tax consultants may not pay specific attention to the regulations that govern US temporary worker taxes. Perhaps it is not cost effective for the big tax software companies to invest in programming code that covers H1, L1 special tax situation.Often H1, L1 tax payers are surprised when they find out the benefits offered in the tax code, especially during the initial year of their assignments in the US. Unfortunately, most of them miss out on these benefits without the help of a qualified tax professional...more
Offset corporate tax liability When companies are subjected to limited or complete tax liability it totally depends on the residence status. Company's statutory domiciles /places of organization are established in that specific area where the...more
On the Net Tax Application Will Make Your Existence Much Easier Tax time is dreaded for many, many reasons. Most people dread finding out that they will have to pay any amount of money. Often, even those that are excited about the prospect of...more
Reasons Why Should Not Dread Tax Returns Whether you're a company or an individual, tax assessments often create a sense of worry and dread. A lot of people frequently put their tax returns off till the last minute and then panic and fret...more
Reasons A Tax Payer Should Be Cognizant Of The Offer In Compromise In case you or somebody you are acquainted with owes money to the IRS, then you might know about offer in compromise. An offer in compromise is actually a contract between the...more
Choosing Domain Names for Tax Breaks People and businesses with tax problems are on the rise because off the recent recession and more are still to come because economic recession is and hopefully not always, will be a part of any economy. The...more