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Taxes : Business & Finance

Can You Have More Than 1 IRA?

There are five types of individual retirement accounts, and many people have more than one account of each type. Traditional IRAs and Roth IRAs are the most widely known account types. Many small businesses use simplified employee pensions IRA accounts, or SIMPLE IRA accounts. The last type is the e

Beware Tax Relief Scams

Individuals in serious debt to the IRS are regularly preyed upon by scam tax relief companies who will charge thousands of dollars and then deliver nothing.In many cases these scams involve a personal tax evaluation costing several thousand dollars only for the taxpayer to be told that there is noth

Texas Franchise Tax Definitions

A franchise tax is a fee that a corporation pays each year. The franchise tax can be based on size, income, profits or number of employees. From 1997 to 2008, Texas had a franchise tax on corporations in the state.

Income Tax Deductions for Children

Start clipping those coupons: According to data from the U.S. Department of Agriculture, it costs an average of $222,360 to raise a child from infancy to adulthood--and that doesn't include college, says the study. Congress, however, has built some incentives to college savings and tax...

How to Read Your Form 1099-DIV

How to Read Your Form 1099-DIV. Many investors who receive dividend income are confused by the way this income is broken down on the 1099-DIV form. This article explains how to interpret the numbers in each of the commonly used boxes on this form.

How to Incorporate in Idaho

How to incorporate in Idaho, including information necessary to file Articles of Incorporation with the state of Idaho.

Teacher Tax Relief Act

As school budgets shrink, many dedicated U.S. teachers make up the shortfall by dipping into their own wallets in order to bring important learning materials to their students. The Teacher Tax Relief Act was passed to deal with the out-of-pocket education spending done by teachers. This act allows q

What Happens When You Don't Pay Worker's Unemployment Taxes?

Unlike some other public programs, regular unemployment insurance doesn't benefit from public funds. Instead, employers foot the bill by paying unemployment insurance premiums for each of their workers. Each state assesses these premiums on employers, who also pay federal unemployment insurance taxe

IRS 2006 1040 Instructions

Tax returns are supposed to be completed and filed by April 15 following the prior tax year or by October 15 if you applied for an automatic extension. Tax returns from 2006 that were not filed can be completed and filed with the Internal Revenue Service any time, but if you are due a refund, you wi

California State Income Tax 540 Instructions

The California State Franchise Tax Board, the taxing authority in California, uses a variety of forms to collect taxes. The standard income tax form in California is the Form 540. The Franchise Tax Board recommends that you first complete and file your federal income tax return before filling out th

What If I Forgot to Send the IRS My W-2s?

When you own a business with employees, you are required to file W-2 forms for each employee you paid by the due date. You must also send the employee his copy by Jan. 31. If you fail to send the W-2s to the IRS on time and cannot show reasonable cause, the IRS will assess penalties. Even unintentio

Paystub Vs. W-2

Paystubs and W-2s both contain information about earnings and deductions, but there are inherent differences in the two documents. While paystubs provide a convenient tracking system for your earnings throughout the year, a W-2 is a certified document detailing your wages and tax deductions that bec

Single Member LLC Tax Advice

Do you have a single member LLC and are unsure what the IRS rules are for compensation? If so, a licensed tax expert (CPA) has provided the tax advice to help you.

10 Facts About Capital Gains Taxes

The government has increased the capital gains rate from 15% to 20% for most people. Special types of net capital gain can be taxed at a higher rate. This is a discussion about what capital gains are and when you can take a gain or loss.

Money and Income Tax Problems

Paying the tax for the money earned is compulsory and you have no way to escape from it. But you can save some of this money by investing in the tools that are exempted from taxes...

IRS Energy Tax Credit Carryover Info

The American Recovery and Reinvestment Act of 2009 grants taxpayers a credit for making their residences more energy efficient. Actually there are two separate credits: the Residential Energy Property Credit and the Residential Energy Efficient Property Credit. The second provides a greater opportun

Places to Get Your Taxes Done

Preparing your own taxes is often difficult.TAX TIME image by brelsbil from Fotolia.comPreparing your own taxes is often difficult. Despite software which allows you to prepare your own taxes at home, some people like to make sure that a tax preparation specialist will help them prepare...