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August 08 2011

Irs Tax Rebate, Tax Rebate Checks

Tax Rebate Checks, Irs Tax RebateChild Tax Credit WorksheetMore rebates may be coming in 2009, but if you are eligible for a 2008 rebate, it's still not too late to claim last year's rebate as well! Merely by filing your tax return, as a US citizen, you are eligible for the rebate, unless you were claimed as an exemption by another taxpayer.The IRS is responsible for the issuance of the tax rebate checks and you can go their website to check the status of your rebate if it has not been received.

July 14 2011

Tax Exclusion for Employer Provided Health Insurance

Tax Exclusion for Employer Provided Health InsuranceDoes your employer provide you with the option for health insurance but require you to pay a portion of it? If so, your premium is tax-free. This benefit is available to all employees, with the requirement that your employer provides the health insurance plan.

July 07 2011

Deduction for Student Loan Tax

Tax Deductible Donations and Write-Offs With all the different tax deductions out there, its easy to see how some could be missed, but sometimes its these hard to miss tax deductions that can give your tax return the boost it needs. One of these often overlooked deductions is the one you can take on the interest of a student loan.Short and Long Term Capital Gains Tax BracketsThere are certain circumstances you have to meet to be able to qualify to deduct your student loan interest:¢You paid the interest on a qualified student loan last year ¢Your filing status isnt married filing separately ¢Your modified adjusted gross income is less than $70,000 ($145,000 if filing jointly)Social Security Withholding Tax Calculator¢Neither you or your spouse are claimed as a dependent on someone elses tax returnRemember, a qualified loan is only a qualified loan if it was taken out for the use of qualified higher education.

July 06 2011

New Tax Breaks for Business Owners

Business Owners Looking For New Tax BreaksThere is some good news for business owners looking for more tax breaks this year.Mortgage Tax Deduction Information for HomeownersDue to the current state of the economy, the government has extended many tax breaks to business owners to try and stimulate the economy.Section 179 Business Expense DeductionThe year 2010 will change the amount of equipment that can be deducted for business from $250,000 to nearly a 50% drop to $135,000.

July 05 2011

Corporate State Tax Rates

Corporate State Tax Rates for 2010, 2011Yes, even the corporations owe Uncle Sam every year just like the rest of us. Theres enough critical debate to go around regarding the amount of taxes corporations are asked for, and thats a very long story.Tax Refund Estimator, CalculatorIn the last year, the global average corporate tax rate has dropped from 35% to 26%.

How to Manage Costs on Individual and Corporate Concerns

You can never avoid entering the realm of paperwork after you engage on setting up your own business. No matter how stressful it could be, having budgets shouldn't be disregarded. When developing budgets, two of the main points that you should consider are the issues associated with your business as well as your individual expenditures.

June 30 2011

Inheritance Tax Planning and Advice

Understanding Inheritance Tax Planning and AdviceInheritance Tax can be somewhat confusing if you are not familiar with all of the rules that must be followed. Inheritance Tax in some states is also known as Estate Tax.Best Federal Income Tax Software Both of these are the tax that must be paid on the total value of someone's property and money that has passed away.

IRS Allowable Mileage Reimbursement Tax Deduction Rules Per Mile

Do You Wonder What The IRS Allowable Mileage Reimbursement Tax Rate Is?Tax Deductible Medical ExpensesThe allowable IRS mileage rate tax deduction for 2010 is 50 cents per business mile driven.It is wise to make sure you claim every tax deduction you legally are able to claim.

June 28 2011

Tax Deductions You're Entitled To: List of Small Business

List of Small Business Tax Deductions You're Entitled ToAs a helpful reminder when you prepare to file your next income tax return, our experts have compiled a list of small business tax deductions for you. By no means is this a comprehensive list of deductions, but it does represent a thorough review of the most common expenses, and some that are too easily overlooked.Because every business is different, it's not possible for us to prioritize which expenses mean the most to your own business, so we've simply listed them in alphabetical order.

June 27 2011

Should I Itemize Taxes - Itemized Income Tax Deductions

Should I Itemize My Taxes? Itemized Income Tax DeductionsIn the rush of tax season many individuals decide to just take the standard deduction rather than to itemize. If you take the time to look at your situation, you may see that itemizing will save you money on your taxes.

June 25 2011

Filing Income Tax - Brackets for Married People

Federal Income Tax, Married Filing JointlyMarried Income Tax Brackets:There are two different married categories for filing your tax return. First of all we have the married filing jointly status and then we have the married filing separately filing status.Married Filing JointlyWell you have to be married and both of you agree to file jointly on your income tax return.

June 24 2011

Child Tax Credit Information

Child Tax Credit CalculatorChild Tax Credit Information:The child tax credit is a powerful tax credit that can greatly decrease your tax liability. You may have a lot of questions about the child tax credit and how the tax credit for children can benefit your family. You can receive a $1,000 tax credit for each child under the age of 17 on your tax return.

June 20 2011

How do Tax Deductions Work

How do Tax Deductions WorkThis is a question every taxpayer wants to understand. You want to minimize your taxes and be sure you are doing this in the right way.For starters, deductions offset income.

June 13 2011

How Much are the Federal Income Tax Standard Deductions

How Much are the Federal Income Tax Standard DeductionsHow Much are the Federal Income Tax Standard Deductions:The standard IRS tax deductions are an option that can eliminate the need for you to itemize your tax return. But, taking the standard deductions when filing your taxes may not always be the best way for you to file.How much is the federal standard income tax deduction?The standard deduction amount will be affected depending on how you file, your age, any disabilities, and whether or not you can be claimed by another taxpayer.

Tax Information

State Income Tax InformationTaxes, taxes, taxes. No matter what anyone says about taxes from their origins to their future, we still have to pay them.There are, however, seven states that have chosen to not impose an income tax: Alaska, Florida, South Dakota, Texas, Washington, Wyoming, and Nevada.

June 09 2011

Tax Limits Social Security

Child Tax Credit Deduction CalculatorSocial Security Tax LimitsDo you own a small business and need to know what you are responsible for when it comes to payroll taxes, and more specifically Social Security taxes and Social Security tax limits?Federal Tax Withholding TableAs an employer, you are not only responsible for withholding Social Security tax from your employees wages, but you are also responsible for paying in on your employees Social Security tax. There is a Social Security tax limit, which is 6.2% on earnings up to $106,800; you, as the employer, must also match the same amount.

Tax Debts with the IRS New Procedure for Settling them

The Tax Increase Prevention and Reconciliation Act of 2005 has ushered in new rules for settling tax debts with the IRS. Here is the scoop on the compromise procedures.Child Tax Credit WorksheetNew Procedure for Settling Tax Debts with the IRSIf you owe the federal government back taxes, there are two approaches you can take to resolve the issue.

June 08 2011

Incorporating A Business Tax Advantages

The tax advantages of incorporating a business is one of the main reasons that owners choose to incorporate their businesses, no matter what market they work in. Other types of businesses, such as sole proprietorships, are not afforded nearly as many tax advantages as an incorporation.Student Tax Write OffsA move called income shifting is one that helps the business, and its owners, immensely.

Tax Credit on Fuel

Fuel Tax CreditAre you wondering if you qualify for a fuel tax credit? I think we would all agree that everyone wants to claim any and all credits or deductions that we may qualify for.There are several types of fuels that qualify for this credit, however there are requirements for each type of fuel group.
Tags: fuel tax credit

June 06 2011

Give apartment owners tax relief Cost Segregation

Apartment owners can face staggering expenses to maintain apartment communities. The upkeep of even a modest community could involve groundskeeping, unit renovation, and replacements, such as parking lot asphalt and fencing. Another steep expense is federal income tax - and in some areas an additional state tax on income - but through an innovative study known as cost segregation, the depreciation of property components can be used to help lower federal taxes.
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