Taxes Articles

Finance » Taxes | By Low Jeremy @ Friday, 1st June 2007 @ 1:19 AM

An income tax is a financial charge imposed on the financial income of entities like persons and corporations. In short, any legal entity who has a value can be taxed which somehow makes sense. To see it in a positive light is to view tax as a contribution to society. You give offerings and tithings to respective churches so why not give something back to the country you pledge allegiance to. If your church promises to improve some aspects of the religious community and as well as to giv... more...

Finance » Taxes | By Roger Munns @ Thursday, 31st May 2007 @ 12:26 AM

The Andorra government has introduced Capital Gains Tax in a move that has surprised many in the tax industry. Andorra is a well known European tax haven, and residents benefit from a zero rated income tax and inheritance tax. The reason for the introduction of the capital gains tax according to the Andorra authorities is to try to slow down the high property inflation seen in the principality in recent years. Property prices have risen an average of ten per cent over the la... more...

Finance » Taxes | By Kristine McKinley @ Monday, 28th May 2007 @ 8:52 PM

If you sell on eBay, or if you have an online business, listen up. There are several tax issues in the news right now that could have a huge impact on the way you do business. The first issue, and the one that is getting the most attention, is Congress's push to get the IRS to force brokers (companies such as eBay and Amazon) to report personal data on their customers. In this proposal, brokers (such as Amazon and eBay) would be required to report names, addresses, and gros... more...

Finance » Taxes | By Roger Munns @ Wednesday, 23rd May 2007 @ 3:08 AM

Banking privacy and no income tax are hallmarks of Monaco, the world's best known tax haven, but in a move that has surprised many Monaco has collated and published her first ever GDP figures. But far from moving away from her tax haven status that attracts millionaires and billionaires to live in the principality, a travel guide for Monaco says it is for other reasons. Prince Albert, who became Monaco's Sovereign in 2005, has been strutting the world stage promoting glob... more...

Finance » Taxes | By Obinna Heche @ Monday, 21st May 2007 @ 8:48 PM

Just because you work at home does not mean you are not subject to the same taxes as any other business venture. The difference is that because you do work at home, its much easier to hide the income than that of a brick and mortar business. On the other hand, the time will come that you will be caught if you do not operate your business on the level. What makes it so easy is that companies are not required to provide a 1099 unless they pay you at least $650 in a year and if you are a fr... more...

Finance » Taxes | By Christopher Anderson @ Thursday, 17th May 2007 @ 12:31 PM

As parents, we work hard all our lives to help our children be smart and wise and independent. Finally, the day comes when they go off into the world on their own. As we proudly wave good by, we realize that for doing such a good job of parenting, the IRS will now penalize us. Now that the children have grown and gone so has many tax deductions such as Personal Exemptions, Child Tax Credit, Earned Income Credit, Child Care Credit, and the College Tuition Credit. To make matters worse... more...

Finance » Taxes | By Christopher Anderson @ Thursday, 17th May 2007 @ 12:05 PM

Over the years the tax laws have changed with regards to how the sale of your home is taxed. There were once laws that said that you could rollover the profit from the sale into a new more expensive home. There used to be a one time exclusion on the sale of your home if you were over 65. Those laws are now no longer valid and have been replaced by the current law. The current law states that if you purchase a home, and live in it for 2 out of 5 years, you do not have to pay capital g... more...

Finance » Taxes | By Kristine McKinley @ Thursday, 17th May 2007 @ 4:38 AM

Are you paying too much in income taxes? Are you getting all the credits and deductions you are entitled to? Here are 7 tips to help you minimize taxes and keep more in your pocket: 1. Participate in company retirement plans. Every dollar you contribute will reduce your taxable income and thus your income taxes. Similarly, enroll in your company's flexible spending account. You can set aside money for medical expenses and day care expenses. This money is "use it or lose it&... more...

Finance » Taxes | By Kristine McKinley @ Thursday, 17th May 2007 @ 4:37 AM

Many people ask me if they are required to report the profits they earn on items they sell on eBay on their income tax return. In short, yes. If you sell items on eBay for a profit, then you should report your eBay sales on your income tax return, and you may owe income taxes on any profits. It doesn't matter if its just a hobby or if you are trying to build a business - if you earned a profit, its taxable income. Generally, any income you receive from all sources is subject ... more...

Finance » Taxes | By Roger Munns @ Saturday, 31st March 2007 @ 12:27 AM

Monaco has recently become the most expensive country in Europe for property, and it's in no small part thanks to the increasing and continuing influx of British buyers. Previously a relatively small group of Monaco residents, the number of British people living in Monaco has doubled in the last two years since 2005, with some 3000 now claiming residency in Monaco. The figure could be set to rise in the short and medium term, with some estate agents in Monaco reporting that 40... more...

Finance » Taxes | By Stephen Dolan @ Friday, 30th March 2007 @ 3:09 PM

It's that time of the year again. Tax time! It may not be one of the more enjoyable times of the year, but it is definitely one of the more important dates on the calendar. Hopefully, you have listened to all the advice and have started planning in advance. If so, you probably already know that the government has introduced a new way for you to lower your federal taxes, maybe even dramatically lower your taxes; you now have the choice to claim your state sales tax to lower your taxa... more...

Finance » Taxes | By Stephen Dolan @ Friday, 30th March 2007 @ 3:08 PM

If you are excited at the prospect of doing your taxes, you are one of the few lucky ones. For most of us mere mortals, our taxes are an incredibly intimidating and complex beast. Needless to say, the U.S. tax code does not make for a light read. Nonetheless, you are still obliged to file and pay your taxes, no matter how daunting the task may be. Fortunately, help may just be a phone call away. This article will discuss various methods you can use to make filing your taxes as st... more...

Finance » Taxes | By Terry Fitzroy @ Thursday, 29th March 2007 @ 12:51 PM

We have barely gotten over the hangover from our Christmas expenses and now the tax man is tugging at your coat tails and you feel another financial hangover in the horizon. These great tax tips for 2007 will help keep that hard earned money in your pocket. 1. File your tax returns on time to avoid penalties for being late. 2. If you are a trade's person you may be able to write off certain expenses relating to your trade. Make sure that your records are always up to date and ... more...

Finance » Taxes | By Terry Fitzroy @ Wednesday, 28th March 2007 @ 11:27 AM

There are many benefits of using professional tax software to complete your taxes. We're going to look at some of those reasons but convenience is certainly one great reason to use it. 1. Save Money - Using professional tax software can save you a bundle of money. Because the software is able to make you aware of deductions you might able to take advantage of you are more likely to take every opportunity available to you and that means you can land up saving a bundle of money.<... more...

Finance » Taxes | By Terry Fitzroy @ Wednesday, 28th March 2007 @ 11:27 AM

Most of us have just finished getting over the stress received from our Christmas expenses. Now, it is the taxman is tugging at your coat tails and you feel another financial hangover in the horizon. These great tax tips for 2007 will help keep that hard-earned money in your pocket. 1. File your tax returns on time to avoid penalties for being late. 2. If you are a trade's person you may be able to write off certain expenses relating to your trade. Make sure that you... more...

Finance » Taxes | By Joaquin Reveron @ Tuesday, 20th March 2007 @ 5:08 AM

One of the great steps your wholesale business portfolio can suffer or pass with greater ease is the Uncle Sam month- April month. For this exceptional month when you are a retailer or a wholesale distributor situation can get complicated or very simple. If you own an e-commerce store on the Internet selling hundreds and thousands of items a year without being incorporated with the many options you have as a business owner, could be financial suicide. Whether you sell DVDs, video games ac... more...

Finance » Taxes | By Kris Koonar @ Tuesday, 20th March 2007 @ 3:54 AM

With over 35 million residents, California is ranked as the sixth largest economy in the world. It exhibits great demographic and economic variation and has various substantial demands in areas such as health care, education and infrastructure. Similar to other governments, California depends mainly on taxes to fund the public services. The California tax system is composed of a wide range of taxes that are managed and collected by different states and local agencies. Tax plays a significant rol... more...

Finance » Taxes | By Kris Koonar @ Thursday, 8th March 2007 @ 1:34 PM

We are always in search of some easy ways to pay our tax. It may involve quicker submissions, improved accuracy and up-to-date methods. Initially, when technology was not so advanced, you might have sent the required documentation to the IRS by the US Postal Service. But things have changed today and you can make use of the available technology and file the returns electronically, by downloading and retrieving information from the IRS. IRS e-file is an excellent service that provides the ... more...

Finance » Taxes | By Kris Koonar @ Thursday, 8th March 2007 @ 1:33 PM

In California, state taxes have always played an important role. At the end of the 21st century, the state of California spent a large amount of money to provide public services to the residents of California and the local businesses. The money spent has been provided by the state taxes. Three-quarters of the state treasury and one-half of the local shares are all provided by taxes. The taxes levied by California State are all included as State Taxes. The personal income tax or PIT, the s... more...

Finance » Taxes | By Kris Koonar @ Thursday, 8th March 2007 @ 1:32 PM

Out of the 48 states, California is the one to tax corporate profits. Whereas, the bank and corporation tax of California remains the third largest source of General Fund revenues of the state. The raise in 1999-00 amounted to about $6.1 billion or 9 percent of the total. All corporations that earn income derived from the sources in California are allied to BCT. But, insurance companies and nonprofit corporations like churches and charitable organizations are exempted, since they do pay a gross ... more...