Finance articles
Showing page 34 of 44 - There are 1319 Finance articles
-
- 2007-11-13 22:16:19 - Military reservists, enlistees may get deferral of back taxes
- Reservists called to active duty and enlistees in the armed forces may qualify for a deferral of taxes owed if they can show that their ability to pay taxes was affected by their military service.The deferral covers active duty members of the military services - Army, Navy, Air Force, Marine Corps and Coast Guard - and commissioned officers of the uniformed services - Public Health Service ...
-
- 2007-11-13 22:16:19 - Your irs tax appeal rights
- Are you in the middle of a disagreement with the IRS? One of the guaranteed rights for all taxpayers is the right to appeal. If you disagree with the IRS about the amount of your tax liability or about proposed collection actions, you have the right to ask the IRS Appeals Office to review your case.During their contact with taxpayers, IRS employees are required to explain and protect these ...
-
- 2007-11-13 22:16:19 - Irs obtains more than 100 injunctions against tax scheme promoters
- The IRS has obtained civil injunctions against more than 100 promoters of illegal tax avoidance schemes and fraudulent return preparers in an ongoing crackdown that began in 2001. Many of the injunctions, obtained in cooperation with the Department of Justice, also order the promoters to turn over client lists and to cease preparing federal income tax returns for others.Signaling a renewed ...
-
- 2007-11-13 22:16:19 - Irs certifies 2006 toyota hybrid for clean fuel deduction
- The Internal Revenue Service has certified the 2006 Toyota Highlander Hybrid as being eligible for the clean-burning fuel deduction. This certification means that taxpayers who purchase one of these hybrid vehicles new during calendar year 2005 may claim a tax deduction of up to $2000 on Form 1040.Under Working Families Relief Act of 2004, which was signed into law in October of 2004, the c...
-
- 2007-11-13 22:16:19 - I havent filed a tax return with irs in years, what do i do?
- In elementary school, kids come up with creative excuses why they did not bring in their homework. "My dog ate it" or "It was stolen by invisible space aliens" might be given as a reason why something was not turned in on time. Don't try those excuses with the IRS! Don't blame divorce, business failures, or family troubles either, because except under extreme circumstances, they won't register wit...
-
- 2007-11-13 22:16:19 - How to donate your car to charity and get tax deduction
- Donating your used car to charity is a win-win situation; the charity gets your gift and you get tax deduction. Below are some simple steps to make a car donation.1. Understand the rules. A good place to read the government rule on car donation is IRS Publication 4303, A Donor's Guide to Car Donations (available on the IRS's website at www.irs.gov). This guide outlines some important rules ...
-
- 2007-11-13 22:16:19 - Estate taxes - it pays to plan ahead
- Estate taxes. It's not enough to simply know they exist, and to know strategies to minimize them. When it comes down to it, you need to plan how you and your family will eventually pay them.The Estate Tax DilemmaEstate taxes are generally due nine months after the date of death. And they are due in cash. In addition to estate taxes, there may be final expenses, probate costs, adminis...
-
- 2007-11-13 22:16:19 - 1031 exchange rules and requirements
- Following is a reproduction of the IRS's rules and requirements for 1031 tax deferred exchanges with regards to real property. If you have any questions regarding the sale of your real property or questions about what qualifies for a 1031 exchange or not, please consult your tax professional.Sec. 1031. - Exchange of property held for productive use or investment(a) Nonrecognition of ...
-
- 2007-11-13 22:16:19 - Amending procedural laws for collection of e-taxation
- The electronic transaction ordinance defines the certificated copies in which are to be presented for adjudication. Where any law requires or permits the production of certified copies of any records, such requirement or permission shall extend to print outs or other forms of display of electronic documents where, in addition to fulfillment of the requirements as may be specified in such law relat...
-
- 2007-11-13 22:16:19 - Tax tips to save money on taxes - get the corporate kick and save loads of money
- Why a Corporation Helps Save You TaxesThe Tax Rates (Notice anything unusual?):The following tables provide a list of the tax rates for individuals and corporations:Personal: $0-$24,650 15% $24,651-$59,750 28% $59, 750-$124,650 31% $124,651-$271,050 36% $271,050+ 39.6%Tax ...
-
- 2007-11-13 22:16:19 - Save money on taxes - let uncle sam pay for your fun!
- "Deducting Meals and Entertainment"O.K. You've been working really hard on these lessons. Now its time for some fun. Are you with me? Imagine if you could spend time with friends, eating, drinking and seeing shows and your company could foot the bill? Wouldn't that be GREAT! Fasten your seat belt, we're going on a (tax-deductible) journey?...
-
- 2007-11-13 22:16:19 - Tax strategy - let washington pay for your corvette, porsche, or air plane
- Deducting Your Auto ExpensesAuto deductions are a very complex topic. So, to clarify, we are not going to attempt to cover all of the intricacies of the subject. Instead, we will cover some of the most-used provisions and provide you with a better understanding of some of the associated issues.In keeping with one of our primary strategies, what we are interested in doing with our aut...
-
- 2007-11-13 22:16:19 - Save money on taxes - double your income now with tax saving tips on deductions
- Adding Your First Additional Stream of IncomeMost new wealth builders currently have a full-time job. After realizing that means "Just ----Over Broke" they commit to quitting their job and starting their own business.Tax Secrets of the Rich Found HereThe concept is good, but let's ...
-
- 2007-11-13 22:16:19 - Tax tips - which tax form is right for me?
- IRS Tax forms can be confusing.Am I a 1099 or a W-2. Do I need an 8832 or a W-7. What the difference between an "S" corp and schedule "C" income?Tax Secrets of the Rich Found HereOur program is designed to teach you to build lasting wealth. In order to do so, we'...
-
- 2007-11-13 22:16:19 - Save money on taxes - is the only way to get your tax savings is to sleep with an irs agent?
- Tilting the Tax Laws in Your Favor.In order to accelerate your movement along the wealth building curve, you absolutely MUST have your own business. I don't care if its real estate investing, a sales company or a service business. But you must own it yourself or with a partner. Why, because the tax laws are tilted in favor of people who are in business for themselves. Let's take a closer lo...
-
- 2007-11-13 22:16:19 - Tax help secret: avoiding the entreprenuers curse
- Your days as an entrepreneur and businessperson are consumed with one primary activity; making money. Whether you think in terms of growing your business, getting the word out there, or some fancy new marketing technique, your days and weeks and months in business are focused on that one group of activities. In fact, some of you are marketing machines....
-
- 2007-11-13 22:16:19 - Tax deductions - mr. c.p.a. can i deduct a pizza? you too can deduct your fun by using tax tips
- Recently, I stumbled across a concept that could change your financial life. You can call it a paradigm shift or a new perspective or just a different way to look at things.This single concept can save you tens of thousands of dollars each year. Its soooo powerful and yet its completely underutilized. Learning this simple technique can dramatically impact your financial picture....
-
- 2007-11-13 22:16:19 - Slash tax when buying a business
- When buying a business, how the "purchase price" is made up can affect what you pay in tax. The plan is to make as much of the price tax deductible for you and not the other party.Once a final price has been agreed upon, try to allocate that price in the sale and purchase agreement in such a way that you get maximum benefit.Here are some ways to do this: If you are buy...
-
- 2007-11-13 22:16:19 - Income tax returns your accountant should not file
- You've been feeling uneasy (perhaps even guilty) because you've failed to report your under the table business income. Perhaps you've never filed a tax return, even though you know you owe money. Finally, you contact an accountant to resolve the situation.Although it is commendable that you are trying to correct matters, hiring an accountant to do these delinquent returns could be a big mis...
-
- 2007-11-13 22:16:19 - Tax investigation - what you need to do
- The knock on the door from a Tax Inspector is something that every taxpayer fears. Your immediate thoughts will be "Have I been honest with my tax returns or not". So what do you do? First, don't panic. Second, sit down and work out your next steps so you can win any tax investigation.Here are the main things to do:. Advice 1 - Get to your Tax Lawyer first...
-
- 2007-11-13 22:16:19 - 10 tax tips to reduce costs and increase income
- No one likes paying tax. Everyone understands that tax is a necessary evil and that without it our government would not be able to afford our roads, health services, education, welfare system etc. However you are not obliged to pay more tax than that for which you are legally liable.Here are some tips to keep your tax down: Reduce all stock to levels and cut costs. Nev...
-
- 2007-11-13 22:16:19 - What is a federal tax lien?
- A Federal Tax Lien (FTL) is a legal instrument that secures the claim of the United States in the right, title, and interest of a debtor taxpayer's assets. It is a public document and is recorded at the County Clerk's office or the Secretary of State, depending on local law. This is done to serve notice on all creditors or other interested parties of the government's claim.The Federal Tax L...
-
- 2007-11-13 22:16:19 - Donating cars to charity - new tax rules
- On June 3, 2005, the IRS released guidance on charitable deductions for donated vehicles. The American Jobs Creation Act (AJCA) radically changed the amount of the deduction taxpayers can claim for their donated car.Fair Market Value v. Actual Sales PriceWhen donating a car to charity, a taxpayer traditionally was allowed to deduct the fair market value. The new law changes this valu...
-
- 2007-11-13 22:16:19 - A taxing investment
- April 15 - The most dreaded day of the year is right around the corner. Are you ready? Some of the most neglected (and misunderstood) tax issues are those related to your investments. If you invest with taxes in mind, you can avoid a nasty surprise when Uncle Sam comes to collect.The tax advisors are chiming in left and right on this issue. They say that you should limit yourself - and your...
-
- 2007-11-13 22:16:19 - Access to e-records by taxing authorities: a case for pakistan (part ii)
- All tax authorities to e-commerce transactions should investigate the record retention requirements of each other's respective jurisdictions.In September 1998 Revenue Minister Dhalinal of Canada;"?Interpretation Circular 78-10RS and 779R (Book and Record Retention/Destruction) will be revised to explain the Department's views with respect to the electronic environment. Revenue C...
-
- 2007-11-13 22:16:19 - Access to e-records by taxing authorities: a case for pakistan (part i)
- Background issues of access to recordsTo assess the records at hosted remote retained out of the jurisdiction of Pakistan root many legal issues which are needed to be addressed. Hereinafter there is description of the emerging legal issue of access to e-records.Lack of statutory provisions for access to electronic data at remote ServerThe access to record in electronic data i...
-
- 2007-11-13 22:16:19 - Correspondence from the irs ? yikes!
- It's a moment every person dreads. You pick up the mail and there is an envelope from the IRS. It's not a refund check. What do you do?Don't PanicEach year, the IRS sends out millions of "correspondence audits" to taxpayers to request payment of taxes, notify them of a change to their account or request additional information. These audits normally cover a very specific iss...
-
- 2007-11-13 22:16:19 - Identity theft ? impacting your taxes?
- If your identity is stolen, your finances can quickly become a nightmare. A less obvious problem is the effect identity theft can have on your taxes.Identity TheftGenerally, thieves steal your personal data for the purpose of running up credit card charges or opening and abusing new accounts. A developing trend in the identity theft field concerns schemes impacting your taxes....
-
- 2007-11-13 22:16:19 - Highlights of irs list of 2005 tax scams
- Each year, the IRS lists various scams taxpayers get caught up in. The top 2005 scams include several that manipulate laws governing charitable groups, abuse credit counseling services or rely on refuted arguments to claim tax exemptions. The agency is warning taxpayers about the growth of identity theft schemes with some particularly bold thieves even pretending to be IRS agents.2005 Scam ...
-
- 2007-11-13 22:16:19 - Section 179 ? tax relief from depreciation rules
- "Depreciation." For business owners, this word is the one most likely to inspire headaches and fits of cussing. The expanded provisions of Section 179 are just the medicine you need to cure the depreciation blues.DepreciationTraditionally, if your business property had a life of more than one year, the cost had to be deducted over several tax years. The number of years depe...