Self-Employed Taxes: Helping You Know Your Responsibilities

Before starting a new business its important to know the 4 responsibilities for the self employed and what effact they will have on that business.

Taxes The Texan Way

Stringent tax collection system makes up for the absence of state income tax in Texas.

Appraisers Lower Costs for Federal Tax Savings on Small Property Depreciation

Tax savings through cost segregation is no longer out of reach for investors in small and medium size properties. With appraiser expertise, fees for analysis are often one-third to one-half lower than those charged by traditional preparers.

Real Estate Tax Sales

Government auctions and tax sales generally occur when a homeowner is unable to pay the property taxes on their home, or their home is abandoned.

Home Improvement Tax Deductions

Our home is something that we all cherish more than almost everything else in our lives. This is a place to live in. and besides giving us shelter from all physical calamities it also gives much more. Unfortunately when you have a home you also have a whole other arena of tax issues to deal with.

Don't Forget About These Frequently Overlooked Tax Deductions

When an individual files their tax returns each year they are able to claim a number of tax deductions. Many times a tax deduction can reduce the amount of money that is owed to the Internal Revenue ...

IRS Audit: What to Watch Out For; The Self-Employed Are in the Bullseye

According to latest reports, the Internal Revenue Service, or IRS, is increasing the total number of income tax returns selected for audit. But it isn't as bad as it sounds, because the audit rate has actually gone down.

Obtaining an IRS Levy Release: The 668W & 668A

Review of IRS Wage & Bank Levy powers. How to obtain a levy release from IRS.

The IRS Trust Fund Recovery Penalty: What Happens if You Don't Pay Those 941s?

How IRS determines liability when payroll taxes are unpaid and a corporation fails or becomes insolvent. Possible defenses to the assertion of the penalty.

Buffet Speaks for Retention of Estate Tax

Billionaire Warren Buffet called on U.S. lawmakers to retain the estate tax in a speech on Monday.

401K Tax Deductions

The 401K plan is an employer sponsored retirement savings plan in which the employee transfers a portion of his/her wage into the retirement account. This plan allows an employee to save for the retirement without attracting any immediate income tax on the deferred amount. The 401K tax deductions are granted until the money is withdrawn. Usually, the job of monitoring the plan is sourced to a third party controller such as an insurance company, a bank, or a mutual fund. 401K tax deductions can be diverted to investments such as stocks, mutual funds, or bonds. Some companies even allow these deductions to be utilized for purchasing the company stock. The employee may be given a free hand for reallocating the 401K tax deductions into the investment of his/her choice at any time.

Filed Your Google Adsense Taxes Yet?

Google adsense just like any other job requires you to pay tax on your earnings. But many people are getting in trouble for not doing so.

IRS Problem Solvers

The IRS, or the Internal Revenue Agency, has instilled the fear of God in the minds of all tax payers in the country. This tax collection and enforcement agency of the Treasury Department of the USA is responsible for dealing with all tax-related issues, which can include non-payment, underpayment or overpayment. It is invested with the powers of implementing strict penalties and fines on all defaulters.

Little-Known Tax Deductions from a Voluntary Employee Benefit Association

If you are a profitable business owner and you want a large tax deduction, there is a defined-benefit plan known as a voluntary-employee benefit association (VEBA) that can substantially reduce taxes and accomplish other business planning goals. A VEBA, if done properly, not only allows deductible contributions, but money can come out of the plan tax-free for health and welfare expenses.

1031 Exchange Info Guide 101

A smart tax saving tool that is gaining popularity among the real estate investors by enabling them to defer the entire capital gains tax is 1031 Exchange.