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Articles in Home | Finance | Taxes articles Title|Newest|Oldest Tax Reform - Limit of Mortgage Tax Deduction  By : Dan Lewis A committee appointed by President Bush has come up with an alarming recommendation. They want to limit the tax deduction for mortgage interest! The Internet Tax Man Cometh  By : Tim Knox If your small business is like most, the majority of your large purchases are made locally from companies that already collect sales tax. Furniture and computer equipment are typically the largest ticket items a small business buys, so unless you bought your desks and computers off of Ebay (which is highly possible these days) you should be OK. Do You Pay Taxes On eBay Income?  By : Tim Knox Last week's column on whether you were required to report income earned from eBay sales to the IRS sparked a number of additional questions and comments from eBay sellers who were hoping that I could somehow validate that their eBay activities were mere hobbies instead of actual businesses and therefore not susceptible to IRS taxation. How to minimize your taxes on wealth  By : Jakob Jelling Taxes on wealth or simply wealth tax is the tax levied on the value of wealth owned by a person. As the term ‘wealth’ carries with it a broader meaning, generally capital transfer taxes (which include inheritance tax and gift tax), property tax, and capital gains taxes are some times invariably referred to as wealth taxes. What are the taxes on earnings?  By : Jakob Jelling Almost all governments across the globe are funded– in some form – by the taxation of its citizens. Certain of the taxes are collected at the time of sales or service whereas certain others in a 12 month period or at the end of what they call a fiscal year. Taxes on earnings or income tax is such a yearly beast. Euro Tax Haven Threat  By : Roger Munns Media reporting of a new EU savings tax directive has left many people wondering whether European tax havens could soon become obselete. The July directive requires banks throughout Europe, including low and no tax areas such as Gibraltar, Monaco, Malta and Andorra, to disclose bank account owner information to their home country’s tax authority. Tax Refund Email Scam - IRS Warning  By : Richard A. Chapo The IRS has issued a warning regarding a phishing email scam. The scam claims you are due a tax refund, but is really designed to obtain your personal information. Standard Mileage Deduction Rates - 2005 and 2006  By : Richard A. Chapo If you’re in business, you’re interested in the IRS mileage deduction rates. The 2005 rates fluctuated because of high gas prices and now the 2006 rates have been released. The Attractive Tax Break for Home Loans  By : John Williams Many home buyers are mislead when it comes to tax advantages with buying a home. Don't get taken for your money. Public Procurement and Very Private Benefits  By : Sam Vaknin In every national budget, there is a part called "Public Procurement". This is the portion of the budget allocated to purchasing services and goods for the various ministries, authorities and other arms of the executive branch. Automobile Tax Expenses  By : Richard A. Chapo If you use a vehicle for conducting business, you can deduct certain automobile tax expenses from your tax bill. This is true even if you use the vehicle for personal and business needs. Home Office Tax Expenses  By : Richard A. Chapo Self-employed individuals often work out of their own home. If this is the case with you, here’s a primer on home office tax expenses you can claim on your taxes. Ladera Ranch Mello Roos Explained  By : Vincent Bindi Mello-Roos is a special property tax assessment that is levied on Ladera Ranch real estate for the purpose of financing infrastructure improvements for the community. This Year, Try Using Tax Software to File Your Taxes  By : James Hunt Every year, we citizens of the United States have to “pay our dues” so to speak, in the form of filing our income tax documentation with the federal, state, and in some cases, municipal government. For many years, people and businesses have filed their taxes with the government using the post office... Child and Dependent Care Credit can help you save on your taxes  By : Pete Glocker Tips on how to consolidate your student loans. Innocent Spouses - Relief from Taxes  By : Richard A. Chapo Historically, tax issues arising from bad marriages fell into the category of “better or worse” for marriages. The IRS granted no innocent spouse tax relief, but has changed its views. Subchapter S Corporation Tax Status  By : Paolo Basauri Overview of the Subchapter S Corporation Designation Although the term Subchapter S Corporation sounds as if it applies to a certain type of company, in actuality, it is merely a term used by the IRS (Internal Revenue Service) to designate a particular tax status. Almost any company that is comprised of 75 or less shareholders can apply for the Subchapter S Corporation tax status designation. Being approved for a Subchapter S Corporation status allows the company to be tax... When Is The Best Time To Incorporate Your Small Business?  By : Wayne M. Davies If you're a sole proprietor, perhaps you've considered incorporating your small business or self-employment activity. And so maybe you've been wondering, "When is the best time to incorporate?" Income Tax Help  By : LeeAnna There are many websites on the Internet today that gives much needed income tax help for those who have no idea of what's going on during tax time. Income tax is a tax paid on income, unfortunately no matter how little it is. It's paid by employees and people who are self-employed and may also be payable if you are not working but you have an income, such as a retirement pension or an occupational pension. Not all types of income are taxable and it will seldom be the case tha... How To Avoid Double Taxation Of Your Small Business Profits  By : Wayne M. Davies Have you been thinking about incorporating your small business or self-employment activity? The advantages are many! For starters, you'll be protecting yourself and your family from the possibility of a business ending lawsuit. Forming a corporation is Step One on the path known as "Asset Protection" -- you are moving from the world of unlimited liability to the world of limited liability. (NOTE: For further insight into the legal advantages of incorporating, check out ... Accounting Methods - Cash and Accrual  By : Richard A. Chapo When starting a business, you have to determine the method you are going to use for accounting and paying taxes. The two choices are the cash method and the accrual method. Are You Overpaying Taxes If You Use Tax Preparation Software?  By : Richard A. Chapo For many business owners the answer to this quandary is tax preparation software. Fill out a fairly simple interview, click “print” and out comes a completed return that will pass muster with the IRS. The answer to all your problems…or is it? Corporations Failing To Claim AMT Exemption Overpay Taxes By $11,000  By : Richard A. Chapo Does your incorporated business pay alternative minimum tax [“AMT]? If so, there is a 93% chance you have been overpaying your taxes by an average of $11,000 a year according to the Treasury Inspector General. Correspondence From The IRS - Yikes!  By : Richard A. Chapo 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? Create Tax Savings And Transfer Wealth To Your Child With A Roth IRA  By : Richard A. Chapo Parents must give serious thought to protecting their family through estate tax planning. While life insurance and trusts should be a part of every plan, Roth IRAs can be a simple tool for passing money to your child on a tax-free basis. Doh! IRS Loses Taxes In San Francisco Bay  By : Richard A. Chapo On September 23, 2005, the Internal Revenue Service began sending notices to tax payers in thirteen states that there may be a problem with their tax payments. Here is the scoop. Donating Cars To Charity - New Tax Rules  By : Richard A. Chapo 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. Early Distributions From Retirement Plans  By : Richard A. Chapo An early distribution from an Individual Retirement Arrangement (IRA) or a qualified retirement plan need not be a “taxing” experience. Fortunately, there are exceptions to early distributions. Employment Taxes - Depositing With The IRS  By : Richard A. Chapo If your business has employees, you must pay employment taxes. The payment system can be a bit confusing, so this article discusses how to go about depositing employment taxes with the IRS. Employment Taxes - What Are They?  By : Richard A. Chapo If you have employees, you are responsible for paying a variety of taxes at the federal, state, and local levels. You must also withhold certain taxes from the paychecks of your employees. So, what are employment taxes? Failure To Pay Employment Taxes - Penalties  By : Richard A. Chapo As an employer, you must pay employment taxes if you have employees. Fail to pay and the IRS will rain all over your parade. Fraudulent Tax Shelters - KMPG Goes Down Hard  By : Richard A. Chapo In the largest criminal tax case ever filed, KMPG has copped a plea to using fraudulent tax shelters to bilk the government out of 2.5 billion dollars. KMPG has agreed to pay a fine of $456 million dollars, but nine of its executives still are under indictment. Gambling Income and Expenses - Tax Requirements  By : Richard A. Chapo Hit a big one? With more and more gambling establishments, keep in mind the IRS requires people to report all gambling winnings as income on their tax return. Highlights of IRS List of 2005 Tax Scams  By : Richard A. Chapo 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. How to Check the Status of Your Tax Refund Online  By : Richard A. Chapo So, you were pleasantly surprised to learn that you are getting a refund on your taxes. Congratulations! The question for most taxpayers expecting a return is, "Where is my refund?" Identity Theft - Impacting Your Taxes?  By : Richard A. Chapo 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. IRS Lock-In Letters - What's An Employer To Do?  By : Richard A. Chapo Employers often ask employees to designate the amount of tax withholdings for paychecks. Occasionally, employees will fail to withhold a sufficient amount in the eyes of the IRS. The IRS will then send a “lock-in” letter on the amount to be withheld. What’s an employer to do? IRS Obtains More Than 100 Injunctions Against Tax Scheme Promoters  By : Richard A. Chapo 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. Need a Copy of Your Tax Return Information?  By : Richard A. Chapo Taxpayers have two easy and convenient options for getting copies of their federal tax return information — tax return transcripts and tax account transcripts — by phone or by mail. Paying Workers - What Can You Write-Off?  By : Richard A. Chapo As your business grows, you are going to need help. This help comes in the form of employees and independent contractors. What you can write-off is dependent upon how your helper is classified – as an employee or independent contractor. Rental Property Tax Deductions  By : Richard A. Chapo Own residential rental properties? This article discusses how income from those properties impacts your taxes. Section 179 - Tax Relief From Depreciation Rules  By : Richard A. Chapo “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. Small Business Tax Deduction - Write-Off Bad Debts  By : Richard A. Chapo Practically every small business has receivables that it cannot obtain from clients. If your small business doesn't have any such receivables, consider yourself lucky. For those small businesses that suffer from uncollected receivables, solace can be taken from the fact you can claim a tax deduction. Small Business Tax Issues for Self-Employed Individuals  By : Richard A. Chapo The United States is a nation of entrepreneurs. There are literally tens of millions of self-employed individuals that enjoy pursuing their dream business. Of course, few of you enjoy the paperwork and confusing tax issues that arise from owning your own business. Tax Deduction for Alimony Payments? - Yes!  By : Richard A. Chapo Over 50% of marriages end in divorce in the United States. Many divorce decrees include provisions for the payment of alimony. The IRS takes the position that such payments constitute a form of income and create an alimony tax deduction for the person making payments. Tax Jokes and Quotes  By : Richard A. Chapo Do you realize that some tax forms ask you to check a box if you are BLIND? Tax Records - What You Should Keep And For How Long  By : Richard A. Chapo Many taxpayers are confused about how long they should keep tax records. The term "tax records" refers to your tax returns and the documents that support the information in the returns. These documents can include receipts, bank statements, 1099s, etc. If you are one of the unlucky few to be audited, these records will be vital to fending off the IRS. Truly Bizarre Taxes: The Tax on Illegal Drugs  By : Richard A. Chapo One can never underestimate the enthusiasm that politicians have for trying to hunt up tax revenues. The creativity of some politicians can lead to bizarre taxes and unfortunate results. Understanding Marketing Tax Deductions  By : Richard A. Chapo Marketing is a necessary expense in running practically any business and the IRS acknowledges as much. You may run advertisements on or in the Internet, radio, television, magazines, newspapers and other media to sell your products or services. You should be deducting all of the associated costs on your tax returns. What to Do If You Can't Pay Your Taxes  By : Richard A. Chapo The end of tax filing extensions is quickly approaching. What do you do if you can’t pay the amounts you owe? You should still file your return by the due date and pay as much as you can. There are, however, additional steps that might help. [1] [2] [3] [4] [5] [6] [7]	Publish for Free Sign Up For Free Learn More Authors and Writers Submit Articles Submission Guidelines Link to Us Member Login U Publish Store Publishers Article RSS Feeds Link to Us Contact Us More Link to Us Privacy Policy Terms of Service Submission Guidelines Top Authors Popular Articles Article Aids We Recommend SubmitYourArticle iSnare Article Marketer Published.com Article Directories Word Count Utility Search U Publish by: Title Author Keyword

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