Many companies offer their employees cash incentives to undertake certain actions such as buying a hybrid car. It is important to remember that such situations have tax consequences
Getting Payroll Tax Figured Out
There is nothing escaping payroll tax. It is something that you will need to deal with from the day that you get your first job until the day you retire. Payroll tax is the amount of money that comes out of your paycheck each and every time for the various services that you need to pay for. And, there is even a specific tax that is for the use of payroll as well. Nothing is certainÂ…
If you are a business owner, then you realize that you will need to take care of these pay…
How To Avoid Those Mind-Boggling Depreciation Rules
Tired of dealing with those complex depreciation rules? Thanks to recent tax law changes, here’s how to avoid them completely while benefiting from a lucrative small business tax break that not only puts money in your pocket, but also makes the filing of your income tax return much simpler.
What am I talking about? It’s called the Section 179 deduction, and if there’s one tax law you need to understand, this is it. Here’s why:
The Section 179 deduction enables the Small…
IRS Announces Tax Credits For Toyota Prius
The Toyota Prius is the vehicle that started the entire hybrid vehicle craze. It continues to dominate the market and the IRS has announced the tax credits for this year.
I used money from my home equity loan to pay off some of my personal debts. Can I deduct interest?
In some instances, it is possible for individuals to deduct the interest of such home equity loans on their state and federal taxes, which are, or at least should be, filed annually the Internal Revenue Service. Despite the fact that the money can be used for reasons other than to buy, build or improve an individual’s place of residency or home, the debt for which the home equity loan is used may still allow the loan’s interest to qualify as home equity debt.
4 Simple Steps To Reduce Your Taxes In 2006
Does Tax Season get you down?
Here are 4 simple steps that any small business owner can take to lower your tax bill this year.
STEP #1: Understand How Serious Your Tax Problem Is
Are you aware of just how much in taxes you are paying?
Here’s how much the average family spends on various consumer categories — as a percentage of income.
You must realize that it’s not how much you spend on taxes that is important, it’s how much you spend on taxes as compared to…
Captial Gains Tax Explained
Capital Gains tax is a federal tax penalty that is imposed on capital accumulation, investment and productivity. Some of the income that is subject to capital gains tax includes the sale of an investment, a home, a family business, a farm or ranch or even a work of art.
Debunking Common Myths About IRAs
According to a recent “Retirement Trends” survey by Fidelity Investments, 96 percent of Americans saving for retirement don’t know the current contribution limit for an individual retirement account, with some guessing as low as $1,000. The reality is that for tax year 2005, IRA contribution limits increase to $4,000 — up from $3,000 in 2004.
Employment Taxes – Depositing With The IRS
If your business has employees, you must pay employment taxes. The payment system can be a bit confusing, so this article discusses how to go about depositing employment taxes with the IRS.
Getting Tax Credits For Saving Energy
Homeowners looking to cut their tax bills may want to rethink their water heaters. A recently signed law allows people to take as much as a $300 tax credit if they install a tankless water heater in their house.
How to Check the Status of Your Tax Refund Online
So, you were pleasantly surprised to learn that you are getting a refund on your taxes. Congratulations! The question for most taxpayers expecting a return is, “Where is my refund?”
IRS Approves Saturn Vue Green Line for Tax Credit
The IRS is working its way through various automobiles that qualify their owners for tax credits. The Saturn model of cars has just been reviewed with one particular model being approved.