1031 Exchanges - The Legal Way To Defer Investment Property Capital Gains Tax

With the booming property prices of recent years, more and more people are finding themselves facing a large tax bill when they come to sell their investment properties. However, did you realize that there is a perfectly legal way of deferring payment of such taxes by utilizing the advantageous 1031 tax code that was introduced by the IRS in the early 1990s?

IRS Simplifies Reporting Requirements for Corps and Shareholders

The IRS is heavily promoting electronic filing options. This promotion has run into problems with corporations because of complex regulations. The IRS is now moving to correct this problem.

IRS Crushes Credit Counseling Groups Claiming Non-Profit Status

Many credit counseling groups claim they are in it just to help you and not make a profit as indicated by their charitable organization status. The IRS is not happy.

IRS Hangs Up on Long-distance Tax

The IRS has announced that it will stop collecting the federal excise tax on long distance telephone services.

Use Your Home to Your Tax Advantage

Homeowners get some nice perks when it comes to paying their income taxes.

Taxes The Texan Way

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

Wise Tax Ideas

Tax troubles can actually be avoided by early and proper preparation with keen attention to details.

Helpful Tax Tips For Federal And State Tax Returns

Each year there are millions of Americans who prepare their own federal and state tax returns and even more individuals have their taxes professionally prepared. Whatever choice a taxpayer makes ther...

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.

Understanding Your Florida 2005 Property Tax Bill

Real Estate and Tangible Personal Property Tax Bills May Now Be Paid at a Discount Taxes paid--i.e., received by the Tax Collector--during November are subject to a 4% discount; December are subject...

Avoiding the AMT Trap

More and more taxpayers are finding a hidden tax on their individual tax returns. The following tax planning strategies should be reviewed to help individuals counter the AMT and plan successfully for their financial future.

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.

House Estate Tax Compromise is Uncertain in the Senate

The measure approved last week by the US House of Representatives that would eliminate the estate tax for all but the wealthiest families faces an uncertain future in the Senate.

Small Business Tax Deductions

Small business tax deductions are implemented by the government to encourage entrepreneurship and investment. A business owner can save large amounts of money through these small business tax deductions. Special small business tax deductions are granted for home based business establishments.

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.