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- 1031 Exchange Tax Deferred Benefits Are Hard to Ignore - By : S.A. Smith
OVERVIEW Section 1031 in allows you to exchange like-kind investment properties without triggering the payment of capital gains tax. As your property assets appreciate in value you have the abi
- Write Off Your IPod as a Business Expense - By : John McCabe
If you've been eyeing those sleek new iPods, but you didn't like the price tag, Uncle Same wants to help you buy one. Before I go on, here's the standard CYA
- New IRS Rules for Vehicle Donation - By : Karen Campese
The new IRS rules for vehicle donation went into effect January 1, 2005. The new rules have significantly changed the amount most donors can deduct for their car donation, according to Karen Campe
- It Is Better To Receipt, Than To Give (Without One) - By : Marc Holterman
In levying taxes and in shearing sheep, it is well to stop when you get down to the skin. Austin OMalleyb b For tax purposes a receipt is a document which confirms a payment to a t
- Avoid Paying Capital Gains Until The Ripe Old Age of 70 - By : Lawrence D. Elliott
How, you might ask, can I avoid paying capital gains taxes until the ripe old age of 70? Well, this tool, which has been around since the 1950s, is shockingly unknown to the vast majority of Americ
- Why You Should Care About Taxes In September - By : Richard Chapo
Taxes, taxes, taxes who cares about taxes in September? The end of the year isnt for another three months and I dont have to file till April 2006. Who is even thinking of these things now? Well,
- IRS Adjusts Revenue Procedure on Mileage - By : Sharon Claar
Recent gas price trends have impacted the standard mileage rate allowed by the IRS. Small business owners should be aware of the latest adjustments and take full advantage of all available deduction
- Doh! IRS Loses Taxes In San Francisco Bay - By : Richard Chapo
On September 23, 2005, the Internal Revenue Service began sending notices to tax payers in thirteen states that there may be a problem with their tax payments. Here is the scoop. Traffic School?
- Is an MBA Deductible? - By : Robert D. Flach
You can deduct as an "employee business expense" the cost of education that is (1) expressly required by an employer, by law, or by government regulation, or (2) maintains or improves skills require
- The Most Important Number on Your Tax Return - By : Robert D. Flach
Most taxpayers concentrate on ways to reduce their "taxable income". However, beginning with the Tax Reform Act of 1986, your "Adjusted Gross Income", or AGI, has become the most important number on
- Happy Birthday To The Income Tax! - By : Robert D. Flach
Did you know the federal income tax celebrated its 92nd birthday on October 3rd? In February of 1913 the 16th Amendment was ratified by the required two-thirds of the states. The amendment gave C
- The Coming Fair Tax Revolution - By : Britt Gillette
Few people would expect a book about taxes to take The New York Times bestseller list by storm, but that's exactly what The Fair Tax Book has done. For decades, Americans from every point on the
- Gambler Loses Twice - Thanks To Tax Court - By : Robert D. Flach
Jimmie Clemons, retired, received a Form W-2G reporting $44,800.00 in winnings from a casino. As his gambling losses for the year were more than $44,800.00, he did not report any winnings or losses
- Tax Wise Giving - By : Robert D. Flach
Instead of giving cash to charity at year-end you can donate stock or mutual fund shares that you have held for more than one year and which have increased in value, and save some money in the proce
- Hurricane Katrina - Dyed Diesel Fuel Tax Penalty Relief Extend Again - By : Richard Chapo
The IRS and Treasure Department have jointly announced an extension of relief for the dyed diesel fuel tax penalty in light of Hurricane Katrina. Shortages Spur Extension of Relief Diesel fuel c
- IRS Gives Employees-Employers Unique Way To Help Katrina Victims - By : Richard Chapo
The IRS has never been known as a creative beaurocracy. To promote donations to Katrina victims, however, it is being very creative. The IRS has come up with Hurricane Katrina Leave Donation Progr
- IRS Reacts to High Gas Prices - By : Richard Chapo
As most small businesses are aware, a tax deduction can be taken for mileage incurred in normal business travel. In light of high gas prices, the IRS has upped the mileage rate. Major Increase N
- IRS Extends Tax Deadlines for Katrina Victims - By : Richard Chapo
Following Katrina, the IRS acted quickly to relieve victims of any tax burdens. One step was to extend any tax filing dates to late October and now those dates have been extended again. Emergency
- Galveston, Oy Galveston - By : Charles Stone
Such kvetching and wailing about the Social Security System. The Democrats are insisting that the Bush plan is racist, sexist, ageist, fiscally irresponsible, and a repudiation of the great Leftist
- The Tax Man Goeth - By : Charles Stone
That the power to tax involves the power to destroy [is] not to be denied Chief Justice John Marshall (McCulloch v. Maryland. 1819) Think of it. April 15th just another date on the calen
- How To Prepare Your Income Tax Return - By : Don Kransteuber
The first step in your income tax preparation is to work out your total income. A persons total income includes many kinds of receipts such as wages, interest, alimony, lottery winnings and many mo
- How to Choose The Right Tax Software For You - By : Don Kransteuber
If you already use some form of personal financial management software such as Quicken or Microsoft Money then it is worth buying tax software that is compatible with this and can incorporate the fi
- Find the Right Service to Prepare Your Taxes - By : Don Kransteuber
It is possible to save money on your tax preparation fees by doing some advance preparation of your own. Make sure that you organize your paperwork and receipts to save time and ensure nothing is mi
- Year-End Tax Planning - By : Robert D. Flach
While the average taxpayer will avoid thinking about income taxes until the approach of the April deadline forces him to do so, once the ball drops on One Times Square at midnight on December 31st a
- Trust Funds Guide - By : Mansi Aggarwal
A Trust is perhaps the best channel to keep your money and other assets safe and secure for your future generations. It is a lawful creation that isolates your money for specific reasons. A trust
- Car Donations - Know the Facts - By : Mike Hemphill
Donating your vehicle to charity can help you when tax time comes around and its also a great way to help people that are in need. The following tips will help you understand your obligations, and
- Tax Reform Limit of Mortgage Tax Deduction - By : Sergio Haros
A committee appointed by President Bush has come up with an alarming recommendation. They want to limit the tax deduction for mortgage interest! Reform Following his re-election, President Bush
- Keeping Your Own Money - NOT Handing It Over To The Taxman! - By : Nathan Dawson
Most people trying to make a crust online (or offline for that matter) are so focused on doing just that, they ignore taking simple steps to ensure that they hang on to just as much of it as they ca
- Removing IRS Liens And Levies - By : Barry Smith
I want to tell the story about how I came up with what has proven to be a viable process to remove IRS liens and levies. I discovered what amounts to a needle in a haystack. I found somebody in th
- Ask the Tax Pro: IRA Basics - By : Robert D. Flach
QUESTION: I got to thinking about IRAs. I think this is how it works- Traditional IRA contributions are from dollars not taxed. Distributions from this type IRA are then taxed upon withdrawal
- The Skinny on 1031 Exchange: Maximizing Profits by Minimizing Your Tax Liability - By : Dan Johnson
A 1031 exchange refers to Section 1.1031 of the Internal Revenue Code which was passed in 1990. Normally, when you sell all real and personal property, the tax code requires the payment of the Capi
- Sale Of A Personal Residence - The New Rules - By : Robert D. Flach
Based on comments and questions I have received from clients and readers it appears that there is still some confusion about the rules for taxing gain on the sale of a personal residence. Many peop
- Charity Resources for Making the Most of Contributions - By : David Arnold Livingston
Some folks believe everyone is responsible for his or her own life, and it is never somebody's else business to make up what others do not actually have. However, in some circumstances, there are
- Setting Up A One-Person LLC - By : Robert D. Flach
The LLC, or Limited Liability Company, is the new entity of choice for both experienced entrepreneurs and new start-ups. The one-person corporation is being replaced by the one-memnber LLC. An LL
- UK Tax Returns - Wish You Didnt Have To? - By : Keith Bateup
If you find yourself dreading the brown envelope with your self assessment tax return form coming through the post you are certainly not alone. Millions of people feel the same way as you and go
- Dont Let Tax Time Stress Wear You Down - By : Sharon Mann
Tips That Make Tax Season Easier April 15 is not that far away, time to gather your receipts, pay stubs, bills and W2 forms. As the tax return filing stealthily approaches, anxiety over filing
- Whats New for 2006 - By : Robert D. Flach
The Internal Revenue Service has released the new inflation and cost-of-living adjustments for tax year 2006. Here are some of what is new for 2006: * The personal exemption amount is $3,300.00
- Online Tax Planning and Preparation Resources - By : Robert D. Flach
As with any other topic, the internet provides a wealth of resources for taxpayers. Here are some websites and web pages that provide information, tools and resources to help you with year-round ta
- Health Savings Accounts (HSAs) Mean Big Tax Savings - By : Stephen Nelson
Concerned about the high cost of healthcare? Worried that your insurance doesnt cover all your costs? Fortunately, a partial solution may be just around the corner. Since January 2004, taxpayers ha
- Charitable Contributions - What is and is Not Deductible - By : Robert D. Flach
I often receive questions from clients and readers about what can and cannot be deducted as a charitable contribution on Schedule A. The following items are not deductible: * Contributions made
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