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Taxes : Business & Finance
What Can Police Write Off on Their Taxes?
Police officers have wages reported on a W-2 form sent to them by their departments and also filed with the IRS. Even though their earnings are reported as wages and not miscellaneous income, they are eligible for certain tax deductions provided they are not reimbursed for the items or services by t
IRS Form 1041 Instructions
IRS Form 1041 is used by fiduciary trust entities for the purpose of calculating the trust's total tax liability for a given year. Form 1041 is also required for decedents' estates that earn more than $600 per year or name a nonresident alien as a beneficiary. Follow the links at the end of this art
Choosing The RightIt Contractor Accountants For The Business
For an it contractor and a freelance worker, selecting the right accountancy firm can make a major change to the manner they manage their business. The most perfect accountancy firm should not only offer expertise on things that impact contractors on a daily basis, like tax legal guidelines, IR35, a
How Can I Declare Losses on My Income Tax Return?
One of the few upsides of losing money on a capital investment, such as a stock, is that you can usually use that loss to reduce your tax bill. The Internal Revenue Service allows you to deduct losses to the extent of your gains, with the additional benefit of being able to carry forward any unused
Rental Sales Tax Laws in Arizona
Each city in Arizona has different rules about renting property and how rental tax is charged.apartment for rent image by dead_account from Fotolia.comThe amount paid in rental sales tax is dependent on where the rental unit is located in the state of Arizona. Each city in Arizona has...
Casualty Loss Can Generate Massive Tax Deductions
A casualty loss may occur as a result of a flood, hurricane, tornado, mudslide or other natural disaster. The intuitive thought pattern is: €My apartment complex worth $5,000,000 suffered major damage totaling $1,500,000 for repairs ...
Fbar Penalty What Are Your 4 Options
Even if you do not owe taxes from an earlier year you should still file the correct FBAR Penalty as the penalties will still apply. Unless you like serving prison time you should not try to evade filing FBAR forms. Because the instructions and rules concerning the filing requirements are complex it
Understanding Depreciation Conventions
Find out about different depreciation conventions. Which convention do you have to use? Learn how to avoid the mid-quarter convention and get to claim more of the cost of your item in the first year. Find out which convention applies when depreciating your home office and more.
R&D Grants
Funding for research and development allows scientists and researchers to discover ways to address the medical, social and technological needs of society. Research and development grants can also create jobs and boost local economies. Most grants are sponsored by individual departments within the fe
Percentages of Withheld Income Taxes
The Internal Revenue Service oversees federal income tax, which employers are supposed to withhold from employee paychecks. All states, except Florida, New Hampshire, South Dakota, Alaska, Nevada, Texas, Wyoming, Washington and Tennessee, require state income tax withholding as well. In addition, so
Say NO To Refund Anticipation Loans
The process of filing one's taxes is filled with great anticipation for some. If you are making a beeline to your mailbox or your company's website to obtain your W-2, you are likely in the group of taxpayers that expect a sizable tax refund. Additionally, there's a high probability t
UK VAT Explained
Value Added Tax (VAT) is a tax that the UK government applies to the consumption of goods and services. While the main purpose is to raise money for the government, the reason it is collected ...
How Are Property Taxes Calculated in Michigan?
Before 1994, property in Michigan was assessed at half of its market value for the determination of a property's assessed value (AV). However, Michigan's constitution changed in 1994 when voters approved Proposal A, which established a limit or "cap" for annual property tax increases. Proposal A reg
Digging up Cost Basis Information for Mutual Funds
It's easy to get lost in all the number-crunching required for your tax return, even with all the helpful features found in the better tax software programs.
I Can't Afford Property Taxes
Part of owning real estate in the United States is paying property taxes. If you do not pay your taxes as part of your mortgage payment, it can amount to a large expense all at once. When you cannot afford your property taxes, you do have a few options to consider.
How to Appeal a Divorce Settlement
When a divorce becomes final, a family court judge will issue a final court order announcing alimony, child support and other settlements. If any party involved disagrees with and chooses to ignore the court order, he risks being held in contempt and could face fines or jail time. The proper way to
How to File Past Tax Returns (And Cancel What You Owed Last Year)
Knowing how to file past tax returns is a skill that can help you in a lot of ways. It keeps you from falling further into debt. It helps you keep track of your financial history. It can save you money or bills. It can make filing this year's returns go a lot faster. Like many tax-related skill
The History of Personal Tax Deduction for Dependents
The modern income tax system was born in 1913 when the 16th Amendment to the Constitution was ratified. Taxes, as well as the deductions for dependents, have fluctuated over the years. During the Great Depression and World War II, tax rates rose and dependent deductions fell. Prior to 1944, deductio
Understanding The Self Employment Tax
Youve done it, followed your dream and started your own business, and now reality hits. Income tax time is approaching and it's time to calculate your taxes. You need to learn all you can about taxes, just as you learned all you could about your business.
What is the Dealer Floor Plan Financing Program from the SBA?
Describes the new SBA Dealer Floor Plan Loans