| Taxes - Tax and IRS information, tips and advice from the largest directory of free taxation articles.
  An income tax is a tax levied on the financial income of persons, corporations, or other legal entities. Various income tax systems exist, with varying degrees of tax incidence. Income taxation can be progressive, proportional, or regressive. When the tax is levied on the income of companies, it is often called a corporate tax, corporate income tax, or profit tax. Individual income taxes often tax the total income of the individual (with some deductions permitted), while corporate income taxes often tax net income (the difference between gross receipts, expenses, and additional write-offs).
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1. IRS Tax issues, Refund and tax preparer Scam: Part 2
by MIke Samadi
January 4, 2009
(Copyrighted)
While you are thinking about getting your taxes done, you might think about doing one or some of the following:
1. I teach my clients what they need, how to prepare their taxes and how to become organized. Possibly you should start by asking your tax preparers detailed questions about every line item of your return. Also during tax season, go to the post office ...more...
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2. IRS Tax issues, Refund and tax preparer Scam: Part 1
by MIke Samadi
January 4, 2009
(Copyrighted)
A lot of people don’t realize their ability and potential to negotiate, do their tax returns or even how to expect to receive their refunds. Referencing my previous article where and when I said: “
I repeatedly use the expression that “lack of knowledge costs a person a lot of money” or “knowledge is wealth.” I interpret this expression by saying, “scammers se ...more...
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3. You lose taxpayer no matter what you do. You need a Robin Hood
by MIke Samadi
January 4, 2009
(Copyrighted)
What do you think about the Gov. bail-out?
Wrong, wrong, wrong. Why is it, that whenever the banks or corporations screw up, taxpayers pay for it? Let’s go back to the 1990’s and the Savings and Loan and the RTC (Resolution Trust Corporation). Of course some of you are younger than I am and may not remember the 1990’s and the S& L or RTC messes. That was als ...more...
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4. The McCain Tax Reform Plan For Long Term Economic Growth?
by Steve Selengut
August 5, 2008
The writing is on the wall (street, that is), and it is telling us that we need to reaffirm the United States as the dominant force in the global economy, and that we have to do more to protect our citizens' retirement and investment programs.
Most economic research suggests that tax code replacement surgery is essential for long-term economic progress. The goal of my plan is to ...more...
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5. Corporate Income Tax Reform--- Seriously
by Steve Selengut
July 8, 2008
The investor's eye view of politics is a simplistic, practical, dot- connecting approach to sorting things out so that win/win change can be considered. Real world politics is not concerned with such things, and that is one of the most serious problems facing investors today. There are at least ten issues that require government action if we are to maintain our competitive position in the ...more...
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6. Guaranteed Social Security Benefits: Make It So
by Steve Selengut
June 19, 2008
The comically complicated PSA (Personal Savings Account) legislation bouncing around Congress will raise taxes, increase investment risk, and expand the size of government. Let's stop applying Band-Aids to spouting arteries. We are looking for a guaranteed retirement benefit program, and organizations capable of providing one. Additionally, we want the new program to reduce taxes, create ...more...
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7. Tax Filing Using Tax Software
by I C
March 19, 2008
Have you ever wondered just how hard is to file a tax return? If you are single or even married and don't have many claims or exceptions to report then you might want to consider filing return yourself; and even if you did have to claim several items in your return, today's tax software applications are up to date with all the changes made to tax laws, those who use these programs usually end up s ...more...
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8. Short Sale My House - Did You Know You Can Do This Without Payin...
by James Redmond
March 15, 2008
bbjservices@cs.com.
Best regards
James Redmond
http://www.thebesthomeoffer.com/ Short Sale My House - Did You Know You Can Do This Without Paying Taxes?
Do you owe more for your home than what it is actually
worth? If so then you know that you only have a few options
open to you. One of them is foreclosure and the other is to
short sale my house. A short sale means th ...more...
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9. Ways to save from federal taxes
by amy guan
March 16, 2008
Federal tax law can seem like a really complicated issue. But, it's important to every single one of us, since we all pay federal taxes each year. Each year, thousands of tax filers miss deductions to which they were entitled simply because they failed to know the federal income tax law. Though you may find it complex, it pays to understand federal tax laws ...more...
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10. Don't Just Sell Your Property - Defer Capital Gains Taxes With ...
by Ravok Corporation
March 16, 2008
As an investor, you know that dollar that you have invested is compounding your wealth, and, in contrast, that every dollar not working for you is a missed chance to further increase your wealth. When the time comes to put your property up for sale, you have 2 options. The 1st option at your disposal is to make a outright sale and recognize a capital gain. This means that you will have to p ...more...
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11. Paying Your Back Taxes: Taking Care of Your Life after the Milit...
by Richard Close The IRS Hitman
March 14, 2008
You served your Country…but now you’re ready to go back to civilian life. You get to spend time with your family, you don’t have to up and move every few months, and the IRS wants that debt you owe them…now!
While you were in…Military personnel have the benefit of being able to defer tax debts while on active duty in a combat or hazardous zone. The tax debt will still be the ...more...
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12. 1031 Exchange -How You Can Indefinitely Defer Income Taxes
by Patrick O'Connor
March 14, 2008
1031 Exchanges are excellent tools to reduce income taxes. Known both as "tax free exchanges" and "1031 exchanges" (based upon the enabling section of the federal income tax code) this tool allows investors to sell real estate without paying income taxes (at the time of sale).Real estate owners or investors expecting to acquire property subsequent to the sale of existing property can indefinitely ...more...
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13. The budget 2008
by Simon Duffy
March 14, 2008
The Budget for 2008 is set to be delivered tomorrow at 12.30pm by the Chancellor Alistair Darling. I'm sure you've already seen the press coverage suggesting that Alistair Darling is mearely presenting Gordon Brown's measures as former Chancellor himself.
Among the changes likely to be annouced are increase in more...
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14. Single Family Litigation Support
by Patrick O'Connor
March 7, 2008
Single-family litigation support and expert witness testimony assists legal counsel and the property owner in obtaining a reasonable and just settlement. Providing an initial assessment of the strengths and weaknesses of a case provides insights into the strategy that is appropriate for the fact situation. In some cases it is appropriate to thoroughly and precisely document the issues ...more...
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15. Restoring the Great America
by Zachary Boswell
March 5, 2008
The phrase "taxation without representation" should be familiar to any student of American history. The colonies that would eventually form the foundations of our great nation felt the heavy burden of British taxes. The mother country remorselessly levied these sanctions to its far flung American citizens. Citizens that carried no weight in Parliament. Citizens whose voices were not heard by the b ...more...
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16. Paying Your Taxes When You Live a World Away
by Richard Close The IRS Hitman
March 4, 2008
It’s not like it used to be… Business has become a global endeavor. No longer do U.S. businessmen take the occasional trip to the Hong Kong office; they live in Hong Kong 24/ 7, 365 days a year. In this new World where national boundaries give way to business interest there are sure to be questions about filing your taxes in your home Country. Do you have to file U.S. Income taxes if you we ...more...
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17. IRS Tax Debt and Your Family: Just Because You're Related Doesn'...
by Richard Close The IRS Hitman
March 4, 2008
Your so called loved ones…During my life as an IRS-Hitman and during my time helping those with tax debt I’ve made an observation. And that observation is this: you can’t trust family, friends, or spouses when it comes to money. All too often someone is in debt because they loaned family members money and were never paid back. Or they co-signed on a loan and got stuck with the debt. So ...more...
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18. Insurance Valuation
by Patrick O'Connor
February 28, 2008
Insurance Valuation Insurance Valuation can guarantee the property owner has adequate insurance and is not paying for excessive coverage. A property loss can be a devastating experience even when fully insured. Incurring a loss when inadequately insured can cause financial disaster. Casualty insurance costs rose sharply after hurricanes Katrina and Rita, particularly in t ...more...
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19. Don't Dread Filing Your Income Taxes - Money-Saving Strategies M...
by Ron Finkelstein
February 21, 2008
Lots of people will sigh with bitter remembrance when you utter the name of the springtime curse: "taxes". With the rate of federal income tax withholdings being pulled out of each paycheck - even without state, Social Security, or Medicare taxes to salt the wound - it's not hard to understand why most consider annual taxes to be a burden; even making them feel used by the system.
Even tho ...more...
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20. When and How to Choose a Tax Attorney
by Ron Finkelstein
February 21, 2008
Tax law is a highly specialized area of expertise and there are many different types of taxes. Thus, not all lawyers have expertise in all types of tax issues or problems. As a result, it would be a good idea on your part to prepare a bit more in looking for a good tax lawyer than might be the case with other areas of legal expertise.
The biggest fear of most Americans is a tax audit. If t ...more...
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21. Should You Hire a Tax Professional to Prepare Your Taxes?
by Martin Lee
February 20, 2008
Five Reasons Why You May Want to Hire a Tax Professional As you progress through your life, your finances get more complicated and preparing taxes becomes more time consuming and stressful. In fact, according to the IRS, it took an average of 37.8 hours to prepare the regular Form 1040 in 2006, even when using even when using tax software. No wonder tax season is declared by various pollst ...more...
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22. More tax deduction means tax reduction
by Patrick O'Connor
February 20, 2008
More tax deductions means tax reduction
Important Commentary for Owners of Real Estate
By Patrick O’Connor, MAI
Depreciate Property Improvements Correctly...
and Pay Less Federal Income Tax
Most commercial real estate owners are paying excess federal income taxes because they are not depreciating their pro ...more...
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23. Asset Protection From the Trust Up
by Charles Lamm
February 18, 2008
Asset protection works best when you start before you have a significant number of assets that need protection. You need to fix the roof before the rains pour in. The earlier a trust is created, the greater the benefits.
The time you usually worry about your assets - when facing a divorce, lawsuit, creditor demands, or a tax lien - is when you can kiss your stuff goodbye. If you have no ...more...
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24. Homes: A Tax Shelter You Can Live In
by RE Writer
February 15, 2008
Tax and legal benefits may not be the first things on the minds of home buyers, but they provide some of the best reasons for owning a home. Well-informed buyers know that homes double as great tax shelters, allowing owners to deduct tens of thousands every year for a wide variety of income tax categories. The best part is that they provide a tax shelter you can actually live in.
...more...
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25. Getting into compliance with your tax returns
by Richard Close The IRS Hitman
February 15, 2008
I haven’t filed my taxes for a couple of years and the IRS says I owe them money. Do I have to file my missing years before the IRS will work with me on my debt?
Yes you do have to file any tax returns from past years. You have to be in compliance with your tax filings before the IRS will work with you at all on a tax debt. The plus side is that you only have to file missing re ...more...
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