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Taxes : Business & Finance

Case Study Problem - Mal Manley

A client, Mal Manley, fills out his client questionnaire for the previous year and on it provides information for the preparation of his individual income tax return. The IRS has never audited Mal's returns. Mal reports that he made over 100 relatively small cash contributions totaling $24,785

10 Way to Save on Your Property Tax - Great Idea

Property taxed is firm jointly by prepare boards, city boards, legislators and advice. The tax regarded is determined by charming the whole that a question requests. This then tear to the 'total taxab

Honest Ways To Get A Tax Rebate

Several tax filers are happy when advised that they can get a tax rebate. It is only appropriate. Imagine after a year's toil of paying the government that they cannot object to will now give them opportunity to get back their money.

Enhanced Residential Energy Credit

Congress recently enhanced the tax credit for solar energy and added two new energy systems to the list of residential energy enhancements qualifying for the residential energy efficient property (REE

What Is the Difference Between a Deduction & an Expense?

Expenses and deductions are linked, but not identical, concepts in income taxes. Many of the expenses you incur during a tax year can be transformed into deductions when you file your taxes. Deductions, simply stated, mean you have to pay less in tax. There are many different types of deductions, bu

Owe the IRS Back Taxes? Payment Options Exist

IRS Payment Plans, Offer In Compromise Settlements Help Taxpayers Pay Off Tax Debt Don't be afraid to face your back tax problems. The IRS makes it easier for you to pay off back taxes owed w

An Introduction to Indirect Taxes

IndirectTax is a tax that is levied on goods & services unlike direct taxes which are levied on individuals. It is called as Indirect as payer who pays tax to government, collects it from ultimate ...

How to Request to Rescind a Homeowner's Principal Residence Exemption

If you are moving to a new home but keeping your old one as a rental, add rescinding your homeowner's exemption to your to-do list. Your county tax assessor will be able to help you out. He will probably have a simple form for you to fill out and drop off or mail in. The exemption should be removed

What Can I Use for Proof of Income for My Taxes?

When you prepare and file your taxes, you will need documentation of amounts you have earned from all sources of income. This allows you to accurately report your income on your tax return. It also allows you to back up information provided on your return if questioned by a tax authority. Several ty

Tax Return Calculator 2010 And Tax Refund Calculator 2010

Tax return calculator 2010 and tax refund calculator 2010 helps you to calculate your 2010 tax return and tax refund. Electronically state tax filing, tax return state taxes is the best way for all US tax payers.

What Deductions Can My Child Use When I'm Claiming Him on My Taxes but He Works?

Children often begin to work while their parents still claim them as a dependent. Parents can claim a child as a dependent until the child is 19, or 24 if he is a full-time student. A child that makes earned income above the limits set by the Internal Revenue Service must file a tax return, but his

Are Repairs to a Handicap Van Tax Deductible?

To determine whether you can claim a deduction for the expense of making repairs to a handicap van, you must first consider if it's a business or personal expense. Although a deduction is available for both types of expenses, the amount you can deduct for handicap van repairs and the way you must re

How Does the Rate Cut Affect Me in Helping to Refinance My Mortgage?

The Federal Open Market Committee determines the cost of borrowing between banks, and when the FOMC cuts rates, borrowing as a whole because less expensive. The FOMC controls the Federal Funds' Rate, but most mortgage rates are based on the interest rates paid on 10-year Treasury bills. Although the

IR35 Advice

What is IR35?IR35 is the Chancellor's weapon against tax and National Insurance contributions (NICs) avoidance through the use of an intermediary such as a service company or partnerships. Essentially, IR35 affects all contractors who do not meet the Inland Revenue's definition of 'se

How to File Your Taxes With a Tax Service

If a person or company is required to file taxes, he or she can prepare it by himself or herself for free. The taxpayer can also pay a tax service to do it. A tax service is a company composed of tax professionals that provides tax preparation services to individuals or companies. If you are not con