As tax season draws irresistibly closer, the scam artists are polishing their latest techniques. This article should help you keep an eye out for these nasty individuals.
The Legalities And Issues With An IRS Levy
An IRS levy is an order from the Internal Revenue Security directing TVA to withhold a specified amount of an employees pay to satisfy a tax debt. If the IRS determines that we owe back tax then it may issue an IRS levy requiring the deductions from the pay till the back taxes are paid. They may ask the person to sign an agreement of consent authorizing the amount to be deducted. The IRS levy can allow an amount to be exempt from withholding based on the o employees tax fil…
UK Taxation Treatment For Rental Income
Land and property income is all income deriving from such property as if it were a trade. Therefore this is calculated as all income being assessed in the tax year on an accruals basis.
What to Do If You Cant Pay Your Taxes
The end of tax filing extensions is quickly approaching. What do you do if you cant pay the amounts you owe? You should still file your return by the due date and pay as much as you can. There are, however, additional steps that might help.
Your Auction Business & Taxes
Taxes is an issue when running an Auction Business. But is there a grey line when it comes to declaring it?
It’s really within reason if you’re going to do a huge amount of it, a small amount is negligible.
Some people want to have a small business for write-offs, you might want to consider taking it to the next level and be able to write off some of your expenses like your computer, office space, supplies, etc.
Each state and each province has their own amount of sa…
New Procedure for Settling Tax Debts with the IRS
The Tax Increase Prevention and Reconciliation Act of 2005 has ushered in new rules for settling tax debts with the IRS. Here is the scoop on the compromise procedures.
Should You Pay Taxes Or Not?
The first attempt to impose an income tax on America occurred during the War of 1812. After more than two years of war, the federal government owed an unbelievable $100 million of debt. To pay for this, the government doubled the rates of its major source of revenue, customs duties on imports, which obstructed trade and ended up yielding less revenue than the previous lower rates.
And to think that the Revolution was started because of Tea Taxes in Boston?
Tax Considerations when Hiring a Nanny
To satisfy the IRS and remain a happy law abiding citizen, you’ll need to assume the role of employer and pay employment taxes
Tax Issues for Self-Employed Individuals
The United States is a nation of entrepreneurs. There are literally tens of millions of self-employed individuals that enjoy pursuing their dream business. Of course, few of you enjoy the paperwork and confusing tax issues that arise from owning your own business.
Tax Season Time for Scams
As tax season draws irresistibly closer, the scam artists are polishing their latest techniques. This article should help you keep an eye out for these nasty individuals.
The Principles On Paying Tax
Why Tax Loop Holes Must Exist
A long long time a go, in a country far far away, in China to be exact, there was a hunter that put nets in 4 sides of the forest. The hunter wanted to catch all animals. Then a king passed by. He said, Remove the nets in the 3 sides of the forest. Let the animals go wherever they want. Let only those who do not follow Tao end up in your net.
Not so long ago, a bunch of liberals say, Lets tax all the income. Block all loop holes. Ensure…
Understanding Marketing Tax Deductions
Marketing is a necessary expense in running practically any business and the IRS acknowledges as much. You may run advertisements on or in the Internet, radio, television, magazines, newspapers and other media to sell your products or services. You should be deducting all of the associated costs on your tax returns.