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Taxes : Business & Finance
How to Eliminate Your Mortgage Legally
In times of economic distress, paying a mortgage can be difficult. If you are struggling with an overwhelming mortgage debt, you can take certain legal steps to reduce and even eliminate the balance. It's important to review all possible options before taking action. Some legal steps will have serio
Can Married Couples File Bankruptcy Separately?
When a married couple face bankruptcy, they can file jointly, one can file while the other doesn't or they can file separately at the same time. The choice to file separately or jointly has important consequences on how bankruptcy affects marital assets and marital debts. Those consequences vary dep
A Second Home & Capital Gain Tax Rules
The Internal Revenue Code treats all property you purchase for personal use, including second homes, as a capital asset. Transactions that involve the sale of a capital asset are subject to capital gains taxes. Capital gain rates are preferable for most taxpayers as they impose tax rates lower than
Effects Of The VAT Rise - How Will It Affect Me?
We all know that the rate of VAT will be increased on 4th January 2011, from 17.5% to 20%. What we don't all know, however, is how that will affect us, which is why you ...
How Do Taxes Work on a Paycheck?
Employers process paychecks by beginning with total compensation for the period, typically weekly or biweekly, then deducting the required federal, state and local taxes, together with employee contributions for various insurance and retirement plans, to come up with the net amount. This generally h
Legal Deductions In Income Tax For Property Transactions In Cantabria
Each region of Spain is entitled to pass fiscal measures that give tax advantages to those carrying out transactions with relation to property. In recent years there has been more activism on the part of leglislators in order to provide stimuli to the Spanish economy which is still suffering due to
How a Home-based Job May Just Save an Individual From Paying Back Taxes
You used to be working for a traditional brick and mortar company, but you got laid off in 2008. Since then, you have been working at home, doing various home-based jobs. The income is sufficient ...
How to Deduct a Nanny's Wages
Nanny wages are only deductible when taken as part of the "Child and Dependent Care Credit." The credit may be used to offset tax liability and may provide anywhere from $600 to $2,100 in tax relief, depending on your income and how much money you spend on child care. You may qualify for the credit
Tax Advice For Contractors
If you are a freelancer or contractor working in the UK, then your tax issues are likely to be a bit more complicated than people who are regularly employed. We've put together a guide to help you through it and sort out your tax. One major thing you need to sort out as quickly as possible is w
What If Receipts Are Missing for an IRS Audit?
As terrifying as an audit can be, it is worse if you have lost your receipts. During an office or field audit, the Internal Revenue Service requires that you produce receipts and other documentation of your claimed expenses. Typically, you should retain your records for a minimum of three years, but
Features Of The Michigan 529 Plan
The state of Michigan has a very good plan for investing for college education through the 529 plan. The Michigan 529 plan is considered efficient both as an instate plan as well as an outstate plan. The plan has been made in accordance with the federal guidelines by the Michigan Department of Treas
Energy-Efficient Window Tax Savings
In 2009, Congress passed the American Recovery and Reinvestment Act, which allows taxpayers who purchase energy-efficient products to take advantage of tax credits for those purchases. As part of this program, taxpayers who purchased certain energy-efficient windows during 2009 and 2010 could take l
Can a Writer Have Losses and Still Take a Tax Deduction?
Not every business makes money the first year or even every year after that. Writing is no different. You are in the business of producing words for money and, sometimes, the cost of the computer, the paper to send in manuscripts and the postage mount up to far more than you made for the year. That
Irs Approved Tax Software For Efiling Taxes
This article describes why you should e-file your taxes with the IRS.
New Regulations Change Definition of "Legal" Tax Preparer
Tax preparation is one of the most complicated activities required from every citizen of United States. It is clear, that we can con expect deep knowledge of multi-layer tax legislation and methods of
Income Tax Planning - India
Most of us lack behind in the Tax planning. We always do it at the end of Feb or Mar, because of which we end up into wrong decisions. Here we will help you to identify Tax saving investments as per your requirement. In India we can save Tax under sec 80cc up to Rs.1, 00,000 and apart from that we c
IRS Updates: Hybrid Tax Credits Following Industry Audit
The Energy Act of 2005 created major tax credit incentives for people purchasing hybrid vehicles. The IRS has recently concluded the quarterly review of manufacturers and issued tax credit status.
Medical Tax Tips
Medical tax tips involve understanding what the IRS allows and disallows on your federal tax return. In addition to deducting medical care expenses for yourself, you can deduct them for your spouse and any dependents you claim on your tax return. Medical care expenses and the resulting tax deduction
Getting Things Done Right With Tax Outsourcing
You know that you have to pay your taxes. This applies not only to you as an individual, but also to any sort of business you might own. The process is very important, and you'll be in a lot
The Salary of a Psychiatric Social Worker
Psychiatric social workers provide psychosocial support to those with mental illnesses, which may include leading group therapy and crisis intervention. These social workers may also deal with those struggling with substance addiction and abuse. The salary of a psychiatric social worker depends on h