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Taxes : Business & Finance
What Next in the World of Tax Preparers Oversight?
The last three weeks have been rather eventful in the world of tax preparers' oversight! It all started last March when three tax preparers filed a law-suit against the IRS, seeking to end the testing requirements that would require tax return preparers to demonstrate competency, and to maintai
Can You Use a Tax ID Number Instead of a Social Security Number?
A Taxpayer Identification Number (TIN), sometimes called an Employer Identification Number (EIN) or a Federal Employer Identification Number (FEIN) is a nine-digit number issued to businesses for tax reporting purposes. As a business owner or entity, you can use your TIN in place of your social secu
How Long Do You Keep Your Income Tax Papers?
April 15th has come and gone. You're glad to have your taxes filed, and you'd prefer never to look at the paperwork again. The next question is how long should you maintain your records?
Taxes on Trading Income
Some people invest in the stock market by choosing a widely diversified mutual fund and holding it for years, or even decades. Others choose a handful of stocks they consider undervalued and buy them in hopes of a short-term profit. No matter which category you fall into, it is important to understa
Annuities Taxes vs. Capital Gains
Annuity salespersons recommend variable annuities as a way to invest in the stock market and use the tax-deferral feature of annuities to let the investment grow without paying taxes. Before investing in a variable annuity, investors should compare the possible tax consequences with the other option
Are Social Security Payments Tax Free?
Before 1983, Social Security retirement payments were tax-free. Social Security benefits became taxable in 1983, with additional taxation added in 1993. Some recipients continue to receive benefits tax-free, as the Internal Revenue Service directs the taxation at higher-income individuals. If you ha
Unpaid Tax Help
The IRS gives taxpayers until April 15 in the year following the close of the relevant tax year to finish paying their income tax bill, if withholding and estimated tax payments don't cover the entire debt. Problems arise when you don't finish paying the tax by this deadline as the IRS will impose i
How to Report 1099 Income to the IRS
A 1099 Form is used to report income other than wages or salary to the Internal Revenue Service. Depending on which type of 1099 you receive, you may have to report the listed income on a different part of your tax return. There are 16 types of 1099s. The most common are the 1099-MISC, 1099-INT, 10
What to Do If You Owe Taxes & Can't Pay
The Internal Revenue Service requires all American citizens and residents to make tax payments, regardless of financial position. However, the IRS recognizes that taxpayers experience periods of economic hardship, making it impossible to pay taxes on time. In a limited number of situations, the gove
Tax Questions That Come Up When Living on a Boat
While sailing into the sunset and living on a boat is a beautiful thing, unfortunately it does come with some tax questions that are often left unanswered. Read on to learn the answers to many of these tax questions.
Division One National Collegiate Athletic Association Baseball Scholarships
College baseball is one of the most competitive National Collegiate Athletic Association (NCAA) sports, with a number of high school players looking to earn college scholarships at the Division I level. NCAA baseball is a spring sport and is highly competitive. Being knowledgeable and involved in th
How to Get a Tax ID Number for an In-Home Daycare
Running an in-home daycare is much like running a small business. To file your business expenses and income as a business, you will want to obtain a tax identification number for your daycare. Doing this is straightforward and simple and can be done in just a few minutes over the Internet. If you pr
Effectively Manage Your Tax Return Worries With The Professional Guidance Of Tax Firms
This article provides a brief overview on how one can hire a tax professional to manage their tax return and can become free from all tax worries.
What Is TurboTax Deluxe?
When preparing taxes online, you may select from many different software programs, each with its own features. Many taxpayers choose TurboTax Deluxe from Intuit, Inc., which helps taxpayers find all of the credits and deductions to which they are entitled.
IRS Tax Debt Help - Know the Steps to Get Out From Under Your Debt
Matt is an average person who works hard to pay his bills and support his family. Last year he was laid off and was not able to pay the taxes he owed. Now, a year later, he knows that he owes back taxes with fees and penalties. He is not sure if he will ever be able to pay off his existing tax debt.
Debt Relief - The Law on Mortgage Forgiveness
The law on mortgage forgiveness covers those qualified debts from 2007 to 2012. If you are interested in debt relief, this article may be able to help you. The amount is limited to $2M for those filing joint returns, single, widows or widower, and head of household.
Donate Your Car to Heritage for the Blind, Reap Major Benefits
If you are having problems selling an old car, then why not consider just donating it to charity? Donating your car will end your problems with selling it. You do not have to advertise, look ...
Can I File Taxes If I'm a Student With a Child?
Under federal tax regulations in the United States, whether an individual is a student with a child has little bearing on income tax filing requirements. A U.S. worker who pays federal income taxes may file an individual income tax return in order to recapture all or part of the federal taxes paid.
Colorado Tax Lien Sales
Colorado Tax Lien Sales are required to be held on or before the second Monday in December of each year, this year Colorado Tax Lien Sales should have the highest interest rate in quite a few years.Here is a short summary of Colorado Tax Lien Sales on lands upon which taxes remain delinquent - sales
Self-Employed Tax Deductions for Cars
Business use of a car can mean big tax reductions.Luxury Car sportscar from my luxury car series image by alma_sacra from Fotolia.comIf you're a self-employed person who commutes by car for business purposes, it doesn't take long to realize that associated expenses can add up quickly and...