Capital Gain Tax vs Ordinary Tax
Capital gains taxes can be steep; figure out if you need to claim as capital gains tax or ordinary taxes to make certain you only pay what is necessary.
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Emancipation Day Extends Tax Day 2011
Tax Day 2011 is extended until Monday April 18, 2011 due to the District of Columbia officially holiday, Emancipation Day, commemorating President Lincoln’s signing of Compensated Emancipation Act freeing Washington D.C. slaves.
Small Business Tax Filing Options
Different Small Business Tax Return Filing Options Every wage earning citizen of the United States of America is required to pay their income taxes; for that matter, also Medicare and Social Security taxes too. Further, almost every citizen pays taxes in some fashion or other regardless of wag earnings in the forms of sales tax, [...]
Tax Software Basics
Tax Software Basics Choosing Tax Software Program Each year brings millions of Americans rely on professional tax preparers to organize their taxes. These professional tax preparers may be in the form of a Certified Public Accountant (CPA) and tax agencies. Though these professionals reduce the risk of mistakes and any discrepancies in the report, their [...]
Tax Preparation 101
Tax Prep Basics Many small businesses have complex tax records. There are health care options to consider, as well as other billable services which can impact one’s tax books. With these scenarios, it is no wonder that most entrepreneurs are at a loss when it comes to preparing their annual tax returns. Self Prepared vs. [...]
Electronic Federal Tax Payment System Scam
Email Scam Targets Taxpayers We are not even sure that Google and their massive data centers could come up with all of the possible scams possible on the Internet. Tacky and unbelievable as they may seem, especially preying on consumers, emails scams on the Internet are a real threat to anyone connected today. The latest [...]
Home Office Tax Deduction
Know the Tax Rules – Get Your Maximum Deduction The Taxpayer Relief Act of 1997 included a modification of the IRS’s definition of “principal place of business” that will permit a larger number of taxpayers to qualify for the home-office deduction. For tax years beginning after 1998, the deduction will be available for home offices [...]
Business Tax Return Misconceptions
Regardless of how life changes, one of the biggest hurdles you’ll face in running your own business is to stay on top of your numerous obligations to federal, state, and local tax agencies. A tax headache is only one mistake away, be it a missed payment or filing deadline, an improperly claimed deduction, or incomplete [...]
