Valuable Small Business Taxation Tools Provided by the IRS

May 28, 2011 by  | Leave a Comment Filed under: Taxes 

Taxes are a big deal for any small business owner. This is especially the case if you do not have enough funds to employ a full time accountant or tax specialist to manage tax issues concerning your business. However, the IRS is fully aware of this and provides sufficient tools and resources to (read on...)



Using an IRS Installment Plan to Pay Off a Large Tax Liability

May 28, 2011 by  | Leave a Comment Filed under: Taxes 

The IRS installment payment plan enables taxpayers to pay off their tax liability in installments that are more affordable over a span of a couple of years. It is a plan available to all taxpayers who cannot afford to pay off their tax liability in one lump-sum payment. However, even after (read on...)

Is an Annuity a Good Tax Deferred Way of Investing Your Funds?

May 28, 2011 by  | Leave a Comment Filed under: Taxes 

Following the 2007 economic downturn and the uncertainties in investments, many people are seeking for investments that have the least risk and give return certainties. One of the areas that have been selling great is annuity funds. The annuity funds are marketed as a tax deferred investment with (read on...)

Offer in Compromise and Installment Agreements

May 28, 2011 by  | Leave a Comment Filed under: Taxes 

Tax resolution services mainly deal with two arrangements: An Offer in Compromise and Tax Installments Agreements. These firms are usually run by tax attorneys and they negotiate on behalf of clients for “An Offer in Compromise” so as to have some or all of the tax liabilities of (read on...)

A Month After Tax Returns

May 28, 2011 by  | Leave a Comment Filed under: Taxes 

Around about mid May, one month after the tax deadline day, many taxpayers will have already finalized all tax-related issues and will be eagerly waiting for their tax refunds. For those not expecting any refunds, by mid May, they will have shelved all tax related issues and will be back to (read on...)

Workplace Attire Tax Deductions

May 28, 2011 by  | Leave a Comment Filed under: Taxes 

Miscellaneous Itemized Deductions enable taxpayers to deduct qualifying employee expenses that are not reimbursed by the employer. The qualifying amount of the expense to deduct is the excess of 2% of one’s Adjusted Gross Income. There are various employee expenses that can qualify for tax (read on...)

Report Reveals High Taxes and Fees for Mobile Calls

May 28, 2011 by  | Leave a Comment Filed under: Taxes 

A report released by the Tax Foundation, an organization that researches issues relating to taxes, shows that the U.S. citizen pays on average 16.26% in taxes and fees for their mobile calls. However, the majority of the taxes and fees are actually levied by the local authorities with the IRS (read on...)

Tax Codes – Understanding Them In Order To Avoid Paying The Wrong Taxes

May 28, 2011 by  | Leave a Comment Filed under: Taxes 

When you part with your hard-earned savings to pay your taxes, are you convinced that you are paying the right amounts? Or do you suspect that you may be paying more than what you should? Understanding your tax code and knowing what it means give you a sigh of relief that you are indeed paying (read on...)

2011 Guidelines on Income That One Needs to Follow to File Returns

May 28, 2011 by  | Leave a Comment Filed under: Taxes 

Filing returns is an obligation of most American citizens and entities. However, there are a group of people who are exempted from filing returns based on their level of income. The IRS provides an annual guideline for tax returns that includes the income levels that different groups of people (read on...)

A House Bill That Seeks to Remove Tax Credits for Abortion

May 28, 2011 by  | Leave a Comment Filed under: Taxes 

In May 2011, The House passed a bill that would remove government tax breaks for any medical expense related to abortion. The bill that was passed with a vote of 251 to 175 had all the Republicans and 16 of the Democrats rallying behind it. The bill suggested among other things the remove all tax (read on...)

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