Taxes Articles

Finance » Taxes | By Jimmy Woodall @ Tuesday, 18th November 2008 @ 2:39 PM

The assessed value of real property is an annual determination of the just or fair market value of the property established by the Property Appraiser. Local officials value your property, set your tax rates, and collect your taxes. Homestead, over sixty-five, and disabled veterans exemptions are examples of partial exemptions, which reduce the taxable value on qualifying property. The property tax, unlike any other form of taxation, goes on in perpetuity regardless of the property owne... more...

Finance » Taxes | By James Mitchell @ Tuesday, 18th November 2008 @ 12:10 PM

You will frequently hear the phrase, "There are two things you can count on: death and taxes". This exemplifies how most people feel about dealing with taxes - much like facing death. Fortunately, there are people who enjoy this, not only plugging numbers into columns, but figuring out payroll and making tax decisions to maximize the citizen's return. When searching for an accountant, there are certain things you must keep in mind to find the person who is a perfect fit. The ... more...

Finance » Taxes | By Art Gib @ Monday, 17th November 2008 @ 1:16 AM

If you've never heard a true IRS horror story, then you probably haven't been listening. Simply search for "IRS horror story" at your favorite search engine. Read a few of those and you might at first think, "That kind of stuff doesn't happen in America!" But, sadly, it does. If you ever find yourself in a similar position, finding the proper tax solutions will become a priority to prevent the creation of your own nightmarish scenario. Whether you are a sma... more...

Finance » Taxes | By Steve Selengut @ Saturday, 15th November 2008 @ 10:19 PM

SIBORAP includes these ten specific sections: (1) Product Transparency, (2) Regulation and Education, (3) Protection from Speculators (4) Control of Hedge Funds, (5) Brokerage Account Statements, (6) Retirement Account Investments, (7) Executive Compensation, (8) Corporate Financial Statements, (9) Taxation of Investment and Retirement Income, and (10) Transactional Greed and Fear Controls. Section Seven: Executive Compensation Every dollar paid to corporate executives, directors,... more...

Finance » Taxes | By Gregory Smyth @ Friday, 31st October 2008 @ 7:10 PM

Regulations have become ever tighter in our current economic environment, and some businesses have let this make them fearful about banking. Legitimate transactions that allow businesses to reduce the amount of tax they have to pay go uncompleted, due to an increased awareness of regulatory compliance and worry abut public perception of a company. However, governments offer tax incentives as a way to attract business to their area, and the market should be allowed to reward those that of... more...

Finance » Taxes | By Art Gib @ Thursday, 16th October 2008 @ 8:18 PM

Most people across the country have to pay something they really don't enjoy paying and that is sales tax. There are many items that are taxed such as personal care items, food, vehicle and home purchases, vacations and general merchandise. Sales taxes vary state by state and many residents who live on the border of certain states travel the distance in order to be able to obtain items at a lesser sales tax than they would in their own state. Sales taxes are formulat... more...

Finance » Taxes | By Dave Kauppi @ Friday, 3rd October 2008 @ 1:44 AM

If you are the owner of a C Corp and are planning on selling your company, you must understand the ramifications of the stock sale versus the asset sale. Here is what happens when there is an asset sale of a C Corp. The assets that are sold are compared to their depreciated basis and the difference is treated as ordinary income to the C Corp. Any good will is a 100% gain and again is treated as ordinary income. This new found income drives up your corporate tax rate, often to the maximum rate of... more...

Finance » Taxes | By Steve Cagney @ Wednesday, 1st October 2008 @ 7:22 PM

There have been quite a few rumors about a possible 2009 tax rebate that would exceed what we all received from the 2008 rebate. Being an election year, each side wants to make their candidate shine right before November, and giving cash to Americans seems to be a way they are willing to do it. Touted as "Son of Stimulus" by Democrats, the stimulus plan will push more money to taxpayers this fall. Earlier reports are that the amounts could be in the upwards of $150 billion, which ... more...

Finance » Taxes | By Helen Hecker @ Sunday, 21st September 2008 @ 7:07 PM

If you're thinking about donating your car or truck to a local or national charity, here are a few tips that you should know. There are a few problems you can avoid if you do a little research first. Ultimately your goal may be to gain a good car donation tax deduction. The change in the tax laws make it easier now to get a good deduction. 1. How the car donation charity uses your donated car. Decide whether it's important to you or not if you know how the charity is going to u... more...

Finance » Taxes | By Helen Hecker @ Wednesday, 17th September 2008 @ 7:05 PM

In the past few years many charities have found they can raise money through car donation programs and provide you with a car donation tax deduction. These programs can be a goldmine and the charity can make a lot of money for its charitable activities. They stand to make a lot more money if they do all the management themselves. However they must manage it correctly. Many charities prefer to hire companies that specialize in handling car donations. They charge fairly high fees however... more...

Finance » Taxes | By Gregory Smyth @ Wednesday, 17th September 2008 @ 6:14 PM

Off shore banking used to be viewed as the sole province of those with mahogany toilet seats or criminals planning to steal large amounts of cash. However, corporate offshore banking has not only become more accepted, the benefits of it have grown in current economic conditions. Here we look at what you should know before you open an offshore banking investment account. 1. The first thing is a good news item - there are more benefits to banking offshore than you might realize. When you b... more...

Finance » Taxes | By Patricia Stevens @ Tuesday, 16th September 2008 @ 7:08 PM

Sometimes at work, your company may offer you the opportunity for an EIS investment. Along with the fact that it is a nice way to invest and make future funds for yourself, an Enterprise Investment Scheme is also recognized by the government as a positive form of investment and therefore qualifies you for tax relief, so it is a win-win situation all the way around. Due to the tax relief law; you can receive up to twenty percent of tax relief on your normal income tax provided whatever shares y... more...

Finance » Taxes | By Catherine Harvey @ Monday, 15th September 2008 @ 12:20 PM

When it comes to will writing, there are so many things to consider. At the top of those lists, people normally tend to think simply in terms of their assets and who they want to inherit what. This in itself can be a complicated affair for some. Families are not as straightforward as they used to be and are often disjointed, with step families and ex's all still being involved with each other. Planning your will writing can be just as precarious as seating all the complicated relationships ... more...

Finance » Taxes | By Gregory Smyth @ Monday, 1st September 2008 @ 1:47 AM

Offshore banking services can be a lifeline for companies, and are actually much more than ways to launder money, receive the proceeds of ransoms, or evade lawful taxes in your home country, as Hollywood would have you believe! Here we look at some things you may no have known about offshore banking, and how offshore banking in countries like Singapore, Bermuda and the Cayman Islands can be made much easier with help from investment management services and offshore banking services. It i... more...

Finance » Taxes | By Paul Hata @ Friday, 22nd August 2008 @ 8:32 PM

For many Americans, April 15th is the most stressful day of the year. The date when federal taxes are due can strike fear into the hearts of the most stoic taxpayers. Writing that yearly check to Uncle Sam can be quite distressing, especially if you find you owe more than you thought you would. What can be especially troubling is that the stress can stay with you, year in and year out. But for many people, the stress begins long before the filing deadline. It may occur a... more...

Finance » Taxes | By Zacharias Allred @ Friday, 22nd August 2008 @ 8:27 PM

As a practicing tax accountant I am often asked what can I deduct on my taxes? During the past 18 years of tax preparation I have tried to answer this question to best suit the needs of the particular client. The deductions described in this article are intended to help you with this question. Did you change jobs last year? If you satisfy certain tests you are able to deduct the expenses relating to the move. These deductions include storage of personal house hold items, house hunting... more...

Finance » Taxes | By Helen Hecker @ Tuesday, 19th August 2008 @ 4:36 AM

These are some of the most important and best charity car donation tips you'll need to consider before donating your car, truck, van or other any other vehicle. You can donate cars, trucks, boats, airplanes, ATV's, even old motor homes and many other types of vehicles and get a good tax deduction. 1. First it's important to know that the laws were changed in 2004 limiting the donor's used car donation tax deduction to the amount the selected charity ends up selling th... more...

Finance » Taxes | By Uchenna Ani-Okoye @ Monday, 18th August 2008 @ 11:21 PM

This is a topic almost everyone you speak those words to, would like to avoid. No one wants to experience an audit first hand; however, tax audits do not have to be the 'monsters' we've made them out to be. There are audits for personal returns, corporate returns, and small business returns. Until recently, an understaffed IRS found it difficult to conduct a large quantity of audits. But now, be warned, their staff have increased, and so too will the audits. What shou... more...

Finance » Taxes | By Uchenna Ani-Okoye @ Monday, 18th August 2008 @ 11:20 PM

Who must may self-employment tax and why? Well, if you're self-employed, you will be responsible for self-employment tax. How do you determine your liability? For the purpose of determining self-employment tax, you are self-employed if you are a sole proprietor, an independent contractor, a member of a partnership, or are otherwise in business for yourself. If you are a self-employed individual, you will have a Schedule C to attach to your Form 1040, and self-employment tax is co... more...

Finance » Taxes | By David de Souza @ Thursday, 14th August 2008 @ 5:18 PM

First it was petrol prices, then it was bread and now tax rates have increased too. Since April 2008 the basic rate of income tax has increased by 100% to 20 pence in the pound. There are a number of ways to reduce your tax bill taking advantage of your allowances and entitlements, which most people are not aware of. Income Tax All UK citizens are entitled to a tax free allowance. In 2008/2009 this allowance amounts to 5,435 pounds. This is the sum that you can earn before any tax is d... more...