Victims of Hurricane Katrina – IRS Gives Tax Relief
In response to the devastation along the Gulf Coast, the IRS is giving tax relief to victims of Hurricane Katrina. The following steps are expected to be expanded upon in the next few weeks. The IRS seems to realize it is hard to file your taxes if your home or business is gone. ... More...
Using The Tax System To Finance A College Education
For almost every family in America except the very rich trying to figure out a way to pay for their children’s college education is a very real and pressing concern. A four year program at the cheapest public school in the country will cost from $40,000.00 to $50,000.00 a year and at a good... More...
How To Get An Instant Pay Raise
As a gentleman was leaving my class recently, he wanted me to clarify something I had said. He was making sure that he should take his four or five thousand dollar tax refund and pay off debt. I was stunned. This money represented $400-$500 that could have been in his pocket... More...
Professional Tax Preparation Requires The Right Professional For Your Specific Needs
Preparing taxes is one of the least enjoyable tasks a person faces each year. While many single or multiple income households feel that they can prepare their taxes on their own each tax season, it is a good idea to think about taking advantage of professional tax preparation services. In... More...
Successful Financial Management in Taxation
Financial management is absolutely critical to the long term success of any business, no matter how big or small. When it comes to the financial management and monitoring of a business, there are a several things that need to be attended to with care. While these... More...
What You Need to Know About Alimony
Alimony, or spousal support is a court ordered payment from the spouse who earns the highest income to the other spouse. Alimony laws exist to help a spouse ease into life after divorce; it prevents the person from having to drastically lower his or her standard of living after a divorce.... More...
How to File For Personal Bankruptcy
Filing for personal bankruptcy means that you�ll be protecting yourself from the creditors that you owe money to. Bankruptcy, however, is a radical way to achieve that protection. What bankruptcy does is take away your debt so that you can make a fresh start when it... More...
Tips And Simple Guidelines On How To Calculate Payroll Taxes
Managing a business small, medium or big requires you to pay your taxes, as well as your employees taxes. Managing a payroll can be an arduous and taxing job, no pun intended. There are laws that require us to pay taxes and everyone have to comply with that. But keeping up with the payroll... More...
IRS Certifies 2006 Toyota Hybrid for Clean Fuel Deduction
The Internal Revenue Service has certified the 2006 Toyota Highlander Hybrid as being eligible for the clean-burning fuel deduction. This certification means that taxpayers who purchase one of these hybrid vehicles new during calendar year 2005 may claim a tax deduction of up to $2000 on... More...
Why A Collection Agency Is Your Small Business’s Best Friend
Does the term “collection agency” put you on edge? If you’re like many small business owners, the mountain of debt you accumulated during startup might have been enough to make you worry about collection agencies every time you answered the phone. But your feelings toward collection... More...
IRS Obtains More Than 100 Injunctions Against Tax Scheme Promoters
The IRS announced today that it has obtained civil injunctions against more than 100 promoters of illegal tax avoidance schemes and fraudulent return preparers in an ongoing crackdown that began in 2001. Many of the injunctions, obtained in cooperation with the Department of Justice, also... More...
Reservists, Enlistees May Get Deferral of Back Taxes
Reservists called to active duty and enlistees in the armed forces may qualify for a deferral of taxes owed if they can show that their ability to pay taxes was affected by their military service. The deferral covers active duty members of the military services — Army, Navy, Air... More...
Are You Eligible For Any Of These Tax Credits?
Taxpayers should consider claiming tax credits for which they might be eligible when completing their federal income tax returns. A tax credit is a dollar-for-dollar reduction of taxes owed. Some credits are refundable – taxes could be reduced to the point that a taxpayer would receive a... More...
Your IRS Tax Appeal Rights
Are you in the middle of a disagreement with the IRS? One of the guaranteed rights for all taxpayers is the right to appeal. If you disagree with the IRS about the amount of your tax liability or about proposed collection actions, you have the right to ask the IRS Appeals Office to review... More...
Need a Copy of Your Tax Return Information?
Taxpayers have two easy and convenient options for getting copies of their federal tax return information — tax return transcripts and tax account transcripts — by phone or by mail. A tax return transcript shows most line items from the tax return (Form 1040, 1040A or 1040EZ) as it... More...