Home Office Deduction - IRS Red Flag?

If you run your business out of your home, you may be able to write off a portion of your electricity, gas, telephone, water, and sewer bills, along with some of the mortgage interest and even the cost of the house itself! Don't let an old wives' tale about drawing unwanted attention from the IRS scare you off. In this article, a leading CPA and small business advisor explains the home office deduction in language you can understand.

UK Self-Assessment - How the Tax System Works

If you’re all new to this self-employment lark, then here’s your easy-to-understand guide to how it will work for you. This helps you get your head round the UK tax system- when you need to submit your tax return, and when you make your payments.

Do You Have To File A Tax Return?

The general assumption is that everyone must file a tax return each year. This is not entirely true. In some situations, an individual or married couple need not file.

What Is A Tax Attorney?

The importance of utilizing a personal tax attorney is not recognized by most business owners, not the same way they understand the importance of employing a office manager or accountant. With training and education specific to tax law that distinguishes him or her from other lawyers- a tax attorney's specialized skills are most useful in matters regarding the resolution of tax issues and tax debt relief.

Losing Weight Can Get You A Bigger Tax Refund

Did you know that losing weight cannot only save your life, but also put more money in your pocket? The IRS classifies certain costs related to weight loss as tax deductible, meaning that dieting can increase the amount of refund (or lower the amount you have to pay.)

Aren't All Free Tax Preparation And E-File Options Crap?

It's getting closer to the tax filing deadline. Do you have all your documents in order? W-2s? 1099s? Receipts? If you don't, then your anxiety levels are going through the roof right now. Read on to learn how you can manage this situation...

Types of Income that are Not Taxable

As you know, the income you earn is taxed by the government. Alas, not all income is treated the same. In fact, some is considered off limits and is not taxed at all.

How to Value Your eBay Inventory for Tax Purposes

One of the questions I hear most often from eBay sellers is how to value inventory, especially if it was purchased at a garage sale, or if you used the item before you sold it on eBay. For new items that you purchase for inventory, make sure you keep all of your receipts. In addition, you might want to keep a spreadsheet with a description of the item purchased, date, and the purchase price, including shipping costs.

Don't Make These 7 Fatal Income Tax Mistakes

Here are 7 More Common Tax Mistakes many taxpayers make according to Jeff Schnepper of MSN Money

Setting Up Your Business Entity

By choosing the correct entity structure, one is able to receive income tax benefits as well as liability protection. Before you get started in your business venture, read this article and understand all of the important issues in making your entity selection.

How Teenagers Can Give Themselves a 10 Percent Pay Raise

Do you know that if you are still in school, working part time, you may not need to file annual Federal taxes? I am not talking about some kind of tax dodge or cheat or funny scheme. This is simply the rules.

Taxpayers Should be Aware of New Tax Penalty

Congress has added yet another IRS tax penalty, one that could catch a number of taxpayers off guard.

Personal Finance - Your Tax Knowledge Test

Whether you doing taxes on your own, or in the nearest Walmart you should know your deductions in order to claim properly and present right evidence to the tax preparer.

How Income Tax Works

A look at the dreaded income tax, how it works, and to file. This article looks at income taxes mainly from the perspective of the individual taxpayer.

What To Do If You Need Help With Your Taxes

Are you trying to prepare your taxes, but you're stuck with what to do next? This article will let you know all of the options you have when you need help.