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Taxes : Business & Finance
How to Do Taxes for My LLC
An LLC, or limited liability company, is a business structure created by individual states that has features similar to both a corporation and a partnership. Like a corporation, an LLC member has limited liability for the debts and actions of the LLC. Like a partnership, income and losses are passed
Offshore Companies Owned by a Trust
Offshore trusts are often used together with offshore companies for enhanced confidentiality. There are different types of trusts, however you would usually use a discretionary trust for this type of arrangement. With a discretionary trust the trustees are able to use their 'discretion' as
Year End Tax Saving Tips
Are you in sales? Did you start a new business? Don't miss this opportunity to save on your income tax return.
What Receipts to Keep for Taxes
Throwing away a receipt could cost you a tax deduction. As a general rule, you want to keep receipts for high-ticket items, business-related expenses and donations. It is standard policy for a 501c3 registered nonprofit organization to issue a receipt with a donation. (501c3 is a tax code for nonpro
How the Solar Energy Credit and the Residential Energy Efficient Property Credit Works?
This nonrefundable energy tax credit will help individual taxpayers pay for qualified their residential alternative energy equipment, such as solar hot water heaters, geothermal heat pumps and wind turbines. The American Recovery and Reinvestment Act which was enacted earlier in early 2009, expanded
Moving Abroad - The Tax Matters
When U.S. citizens move abroad, they are often uncertain what impact their move will have on their annual tax liability. The U.S. imposes taxes based on citizenship, not residence. This means all U.S. citizens, including expats, are required to file a tax return every year, regardless of where they
How to Report a 1099 MISC in California
Form 1099 Miscellaneous is issued to all persons who do work for employers as an independent contractor. In California, 1099 Miscellaneous forms are issued to independent contractors that have been compensated for their work, which must be reported on their income tax returns. Before this income ca
Can I Claim Someone Who Lived With Me on My Taxes?
You may be able to claim someone who lives with you as an exemption on your income taxes, provided you support this person. You can deduct $3,650 from your taxable income for each exemption that you claim in 2010. If you have three exemptions, you can deduct $10,950 from your taxable income. However
IRS Tax Lien and Your Credit - You Can Work the System
When the IRS puts a federal tax lien on your credit your borrowing ability is completely shot. You have no chance of getting a loan or getting any kind of financing until you pay off your IRS debt.
Accounting Firms & Accurate Record Keeping
If you managed a small business, it is important to keep the correct records data all year round . Any type of unverified expenditures will probably get disallowed, should HM revenue officers happen to look into ones income tax report.
How to Cope With a Supervisor You Do Not Respect
Just as you may have neighbors and family members that you respect slightly less than others, you may have run into a supervisor at work who is hard for you to take seriously. She may have terrible work habits, gossip excessively or spend more time playing politics than doing her job. Whatever her p
Removing IRS Liens And Levies
There is an individual occupying a position in the IRS that can be motivated to get both liens and levies removed by sending an effective and credible notice of intent to sue. This article teaches how to write an effective and credible notice of intent to sue.
Tax Implications For Small Business in the New Housing Bailout Bill
Slipped quietly into the recently signed housing bailout legislation are provisions that should make every small business owner think twice about taking plastic and every citizen wonder whether the IRS really needs more power. The bill's sponsors claim that this legislation will quiet the storm
How to File Taxes While Engaged
When married couples file taxes, they gain extra benefits if they file jointly. Not only do they have more potential deductibles, but they can earn more money before they are placed in a higher tax bracket. However, if you are simply engaged, you do not have any of these rights and must file your ta
Tax Audit File And It's Content
To guarantee high quality audit, review of documents collected during the audit and the entire content of documents on the auditor's activity, all documents collected, papers prepared during audit should be stored in the audit file. The file system should guarantee the immediate identification
Role Of Property Tax Lawyers Texas
If you as a property owner, are wondering exactly why high taxation is imposed on your newly purchased home, the government does have a very strong argument to back up their cause. Property tax is ...
Tax Rules on Stock Sales
The stock market is a great way to make money, and selling stocks can be extremely exciting. However, if you do make money in the market, you might have some questions about your earnings. Do you have to pay taxes on them? How do you report that money to the government? There are some...
File Online Income Tax Return
Get a Bigger Refund! 6 great reasons to file an online income tax return. You'll be guided by tax saving wizards, which will help you to find more tax deductions, more tax credits and help you get the largest refund possible. Every possible tax deduction and credit will be searched and checked
2010 Michigan State Tax Forms For Michigan State Tax Filing
2010 Michigan state tax forms are used for Michigan state tax filing online. File 2010 state taxes and get maximum tax refund in your bank account. Get biggest benefits of tax refund. Now very easy to check tax refund status.
Understanding Tax Deductions for Second Mortgage and Home Equity Loan Interest
Let us take a minute and understand tax deductions for second mortgage and home equity loan interest.Loans secured by subsequent homes (e.g., third or fourth homes) do not qualify. A home, according to the Internal Revenue Service (IRS), must be a house, condominium, cooperative, mobile home, boat,