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Taxes : Business & Finance
How to Use Profile Tax Return Software
Using Profile Tax software allows the individual or business to get a snapshot of their current tax liability. This is not only valuable information for the company or individual, but helps lenders, appraisers and accounting professionals make accurate and timely decisions.
Tax Info for Those Married or Divorced in 2006
2006 may have been a momentous year for those of you involved in relationships. If you married or divorced during the year, your tax situation changed whether you know it or not.
What Are the Penalties If You've Never Filed Taxes?
Most workers in the United States are required to file income tax returns with the Internal Revenue Service to pay additional taxes owed or receive a tax refund. Most single taxpayers are required to file an income tax return if their annual gross income is at least $9,350. If you were required to f
How Much Can a Retired Person Make Without Filing Taxes on It?
The Internal Revenue Service has different requirements for people 65 and older, reflecting a little more leniency in filing tax returns for senior citizens. The IRS looks at the source of your income as well as your age to determine whether it requires you to file a tax return. Collateral issues in
How Does a US Corporation Utilize Foreign Tax Credits?
The U.S. federal income tax system is set up to provide that earnings subject to foreign taxation shall not unjustly suffer another layer of tax in the U.S. However, in order to avoid situations where corporate taxpayers scheme to use foreign tax credits as a shield from U.S. tax obligations, the In
How to Complete a 1040X With Form 5405
Form 1040X is used to adjust credits or amend errors on a previous tax return. If you purchased a home before April 30, 2010, you can amend your 2009 income tax return to claim the First-Time Homebuyer Tax Credit. The First-Time Homebuyer Tax Credit was designed to stimulate the U.S housing market.
Definition of a Property Tax Levy
A number of taxes go along with property ownership. As a property owner, you should understand what a property tax levy is and its use in your community.
Which Number Should I Claim on My Paycheck for Taxes?
Since the federal government passed the Current Tax Payment Act of 1943, employers have been required to withhold money from their employees' paychecks. This money is paid to the federal government in anticipation of the income taxes the employees will owe at the end of the year. Knowing how withhol
Education Tax Credit - Increased to $2,500
The 2009 Recovery Act significantly improved the Hope Scholarship Credit. The education tax credit, now has a higher maximum credit amount of $2,500, is partially refundable and has higher income phase-outs. It is also available for the first four years of postsecondary education.
Facts on 1096 Forms
A 1096 Form is a tax form provided by the Internal Revenue Service. The IRS oversees income taxes for the United States. The form is generally something a business owner would need to fill out at the end of the tax year. Form 1096 is known as the Annual Summary and Transmittal of U.S. Information R
Why Would You Have a State Tax Lien Put on You?
If you have delinquent state taxes such as property or income tax, the state can attach a lien to your property to satisfy the debt. A state tax lien is generally used as collateral for the debt.
The Problems You Bear with an IRS Tax Audit
Few things make you wish you never opened your mailbox; an IRS tax audit is one of them. If you are faced with this reality, it is reasonable to panic, but it is important to understand what an IRS ta
Consistent Results Through Sacramento Tax Preparer
While everyone thinks it is easy to address success with just being able to institute a business that would be profitable, it wouldn't be that easy when it comes to learning that sustainability is a ...
Small Business Entrepreneurs-Tips To Simplify Process Of Planning For Tax
For a small business entrepreneur struggling to survive the recession, the task of planning for tax may seem like a complete waste of time. However, there are ways and means to simplify this process without facing the ire of the tax authorities.
When Does it Make Sense for Married Couples to File Separately?
Married couples generally have three choices when it comes to picking their filing status. Which filing status is better?
Maryland Taxes- How They Are Different From Taxes In Other States
In Maryland state, commerce plays an important role in its economy and these revenues supports its functioning. Read on to know more about the Maryland taxes.
Are Rewards Considered Taxable Income by the IRS?
The type of reward you receive will determine whether it is taxable or not. Monetary rewards are usually taxable. For example, a reward from the Internal Revenue Service (IRS) for reporting a taxpayer violation is taxable. Rewards such as airline rewards and credit card rewards are generally not tax
What Is a Revised Mortgage?
A revised mortgage, also known as a modified mortgage, is a mortgage that has had its term changed through a legal amendment to the pre-existing home loan. While some homeowners will choose to refinance their loans entirely, others prefer to draw up an agreement with their lenders to merely revise t
Let's Lower Taxes to Get National Health Care, Social Security and Free College!
The key to financing National Health Care, solving Social Security's long term funding problem and going to college free of charge is to lower taxes. As incredible as this sounds, it's true. This can be accomplished by eliminating tax deductions and a simple restructuring of the tax code.
Choosing the Right Entity
If you are looking to start your own business, there are many things to consider. One of the most important things is what kind of business entity you should be. The four most common are: Sole Proprietor, Limited Liability Company, S-Corporation, and C-Corporation. Which business type you choose dep