IRS
Today is April 15th; taxes are due today. Wait! Actually, tax day 2011 is actually on April 18th thanks to a Washington D.C. holiday being observed on April 15th. That means all you slacker, procrastinators, and just plain still working on them taxpayers out there get a whole other weekend to work on your income [...]
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When deducting eligible automobile expenses, taxpayers have the option of deducting actual expenses or using the optional standard mileage rates to deduct automotive expenses. Because, the records required in order to deduct the actual expenses and depreciation of a car expenses are extensive and detailed, most people opt to use the standard mileage deduction. In [...]
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Updated information regarding the 2012 standard deduction has been posted. The IRS has announced new 2011 tax numbers regarding the standard deduction for single filers and for those married filing jointly, as well as the 2011 value of the personal and dependent deduction. By law, these standard tax numbers are adjusted for inflation each year. [...]
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The questions have started coming in regarding the 2011 income limits for Roth IRA contributions. Planning ahead for taxes is always a good idea. However, sometimes, you can get out a little bit too far. The IRS publishes various numbers, tax brackets, and the like for the next tax year during the fall of the [...]
Small business tax deductions are important in order to offset high business taxes levied against small business owners and entrepreneurs. This is especially true for work from home entrepreneurs who file as sole proprietors, or as a Limited Liability Company aka LLC, with sole proprietor tax status. Small business owners can get hit with high [...]
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Whether you waited until the last minute or filed months ago, there is one last 2009 tax tips and tricks that you need to follow. Print out a copy of your tax return from your TurboTax software or print out your taxes from your TaxCut software, or whatever other tax software program you used to [...]
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Here comes tax time for that huge group of Americans who wait until the proverbial last minute to file their income taxes. For them, crunch time is approaching and they need to find all of those tax receipts and records that they will need in order to file Federal Income Taxes. Fortunately, one of the [...]
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Property taxes can be an important tax deduction for many home owners. Real estate taxes, in particular, can be a significant tax deduction.
There is an unfortunate amount of confusion surrounding the concept of the Federal Tax Identification Number. It is ironic, because the whole Tax ID, FEIN, and EIN thing is actually very simple, mostly because they are generally all the same thing. However, it isn’t surprising that this concept confused many personal finance students because when [...]
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Ah, November, when the American mind turns toward Thanksgiving, Christmas shopping, and strategies to avoid paying too much taxes for 2009. Yes, you should be doing tax planning year round to achieve the maximum savings on taxes, but reality isn’t always so kind. Still, there are some end of year tax moves that are smart [...]
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