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Taxes : Business & Finance
How to Determine Income Tax Rate
The different tax rates and brackets used in the United States are based on how much money you (and, possibly, your spouse) make. Generally, the more money you earn, the higher your tax bracket. However, you are only responsible for total taxable income: This is your entire household income minus an
Can I Get a Tax Credit If I Am a College Student?
In 2010, President Barack Obama increased tax credits aimed at college students and expanded coverage. Tax credits reduce your tax bill by the dollar amount of the deduction. College students and their families can save money on college costs with a tax credit, but could also draw the ire of the IRS
Help With Unpaid Taxes
It's never a good situation to be indebted to the IRS for unpaid taxes. However, the IRS offers you an array of options to avoid the severe collection consequences it can enforce. Maintaining open communications with the IRS and making a good faith effort to comply with the federal tax laws can go a
How Many Allowances Should I Claim to Not Owe Money?
When you start a new job, your employer should give you a W-4 form to fill out. This form includes your name and Social Security number, as well the number of exemptions you wish to claim. The lower the number of allowances you claim on the W-4, the higher your regular withholding will be. If you ow
How Does Having a Lien on My House Affect Me?
When you have an outstanding debt, one of the ways that a creditor might try to get the money is by placing a lien on your property. When this happens, it could affect you in a number of ways. Your credit could be damaged and it could cost you more money in the long run.
Easy Ways for Young Teenagers Who Aren't Old Enough for a Job to Make Money
Just because you're too young to work waiting tables or running a cash register doesn't mean you're too young to start earning money of your own. Whether you're saving for your first car, starting your college fund or just looking for some extra spending money, there are many ways to get what you wa
All About Self-Employment Tax
Individuals who are self-employed for this purpose and who happen to be sole proprietors including but not limited to independent contractors, a partner in a partnership including but not limited to b
Tax Relief - Home Business Purposes
If you are self-employed and use a part of your home for the purpose of conducting your business you may qualify for tax relief in this respect. Many more people today are starting and operating home businesses and, in this regard, a home office deduction is a distinct possibility for that business
Does Every Income Tax Preparer Need A Preparer Tax Identification Number?
The new IRS code governing preparer tax identification numbers (PTINs) can be confusing, even for experienced prep workers who are used to dealing with the complexities of the IRS. One of the main difficulties many ...
What Is the Maximum Gift That Can Be Given wiithout Creating a Gift Tax?
Giving money or property to someone else can help them significantly, but it could cost you when it comes time to pay your taxes. The Internal Revenue Service has rules associated with gifts and how much you will have to pay in taxes for giving a gift.
Receive A Car From CharityFor Free!
If an automobile would make a difference in your life and you are a needy individual, a charity or nonprofit organization might be a place for you to inquire about a car. If so, the car you will receive will be absolutely free as someone with a heart has already donated it, just for someone like you
New Home Purchase Tax Deductions
In 2009, multiple stimulus plans were put into place by the U.S. government to help prod the American economy back to health. One of the results of the various acts was a first-time homebuyer credit. Depending upon when you purchased your first home, you qualified for tax credits of up to $8,000. A
How to Fight a New York State Sales Tax Audit
Facing a New York sales tax audit is stressful and frightening, but you can fight the auditor's findings. New York vendors must collect and turn over sales tax on taxable goods and services, and the state has the right to audit businesses for compliance. A vendor facing an audit has to pay sales tax
How to List Earned Income for Earned Income Credit Purposes
The Earned Income Tax Credit is a credit for people who make a certain amount of money each year. It is easy to find out if you qualify for the Earned Income Tax Credit because there are online calculators and charts to help you. If you already know that you qualify for this tax credit, then you jus
How to Estimate Nanny Taxes
If you decide what work your nanny does and how she does it, she is your employee. This doesn't change, despite whether your nanny receives an hourly wage or an annual salary, works part-time or full-time or if you hired her through an agency. This means you are responsible for paying federal and st
How to Declare Loss With Worthless Securities
Losses on securities are reported on the tax return of the owner of the securities in the year they dispose of them. How the loss will be characterized, and what types of income it will be used to offset depends primarily on how long you have held the security. To properly report, you will need the
Back Taxes For Real Estate - Some Dos And Don'ts Of Paying Them
There are many vital things that should be known when dealing with back taxes for real estate. This is often a very complex and confusing subject, there are some parts to this subject that you need to be aware off to avoid paying more than what is required to be paid. This is often considered as a d
How to Remove a Mechanic's Lien From a Residence in the State of Texas
Mechanics' liens exist to help protect the interests of contractors who have worked to improve a residence but have not been compensated for that work. These liens provide contractors with an additional way to enforce non-payment, but mechanics' liens can be abused. It is not uncommon for homeowner
Deal With Your IRS Tax Debt
IRS debt relief is an option available to anyone who owes back taxes to the IRS. Owing money to the IRS is very common, and if you have found yourself in this situation it can ...
How to Reduce Tax With Charitable Deductions
The federal tax code allows you to take an itemized deduction for qualified gifts to charities. Because the Internal Revenue Service (IRS) characterizes the deduction as an itemized deduction, you must file your taxes using form 1040, complete schedule A and not claim the standard deduction on your