Taxes Articles
Law abiding citizens are required annually to file the income tax returns with the IRS. For years, this was done manually by reviewing old receipts and using a calculator or with the help of a tax specialist. This usually takes hours but there is an easier and faster way to do this, which can be done with income tax software.
Sun, 16 Mar 2008: How-to: Taxes for your Stock Trades
Do you know how to do your taxes for your stock trades?
Tue, 26 Feb 2008: New Interest Expense Allocation Rules
This article analyzes new Internal Revenue Code Section 864(e), which provides an opportunity for taxpayers to elect to modify their interest expense allocation for foreign tax credit purposes.
Sun, 10 Feb 2008: Do You Owe Taxes On That Gift?
Capital gains taxes can be confusing. How much tax do you pay on an inheritance? How much if the property is passed on as a gift prior to death? Jeff puts this difficult subject into simple terms.
Mon, 4 Feb 2008: 2008 Economic Slow Down Could Hit Euro Tax Havens
Europe's tax havens have seen rising property prices and buoyant economies in recent years, but oil prices and a global economic slowdown could hit both Monaco and Andorra in 2008.
Fri, 1 Feb 2008: With These Tips Taxi Driver Accounts Do Not Have To Be Taxing
Taxi Drivers should not to bury their heads under the dashboard when it comes to producing a set of taxi driver accounts. Producing a set of taxi accounts without the use of a taxi accountant is possible and significantly easier if a professional taxi accounting software package is used.
Tue, 29 Jan 2008: C-Corp Asset vs. Stock Sale Dilemma
This Article summarizes a solid strategy for enabling C-Corp shareholders to enjoy a substantial gain in take home cash compared with a traditional asset sale scenario.
Thu, 24 Jan 2008: 2008 Attack On Tax Havens
The UK's Tory Party is producing policy statements to help them win the next Geneal Election.
Their plan to reform taxation and abolish inheritance tax could affect the European tax havens of Monaco, Andorra and Gibraltar.
Fri, 18 Jan 2008: The Corporate Income Tax - Investor Enemy Number Two
Politicians have never been shy about dictating proper behavior to individuals or hesitant in shamelessly picking the pockets of businesses to fund their projects--- but just as Congress picks corporate pockets, corporations pick those of their shareholders.
Thu, 17 Jan 2008: How To Avoid Vat Inspection Problems
Trained vat officers inspect company accounts on a regular basis and know exactly the types of errors likely to be uncovered. The article explains how to avoid problems by keeping accurate accounting records and the most common mistakes businesses make.
Tue, 15 Jan 2008: An Introduction To Registration And Accounting For Value Added Tax
Value added tax is the tax amount added to the value of goods and services by a vat registered business when sold or transferred. Vat is not charged by businesses that are not registered for vat. This guide covers the vat threshold, accounting for value added tax, registration and submitting the quarterly vat tax return online.
Tue, 8 Jan 2008: Do Not Take On Your IRS Problems on Your Own
You may be a tax compliant, filing all your returns on time and having no issues with the tax authorities in the past. Yet one fine day you receive the dreaded certified mail from the IRS you open it and you find a 30-day notice to pay the amount the IRS says you owe it, or you receive a telephone call from the IRS.
Sat, 5 Jan 2008: Simple Ways You Could Benefit When Settling Your IRS Debt
When one intends to settle the tax debt he should have a look at the tax returns to see if any tax waivers have been missed. This would help reduce the tax liability to some extent. There are many schemes available to settle the tax debt.
Sat, 5 Jan 2008: What You Should Do When You Receive an IRS Notice of Intent to Levy
If you have ignored earlier notices from the IRS urging you to pay your unpaid taxes or informing you about some errors in the calculation of your taxes, then the IRS will start using their heavy weapons. They will send you a Notice of Intent to Levy.
Sat, 5 Jan 2008: Strategies to Solve Your IRS Problems
Owing money to the IRS is an onerous liability. The sooner an IRS tax problem is resolved the better. There is practically no way in which you can wriggle out of the situation to avoid payment.
Sat, 5 Jan 2008: Methods to Get Out of Tax Debt
Individual circumstances related to federal tax liability of different taxpayers require different solutions for getting out of tax debt. There are five ways to deal effectively with tax debt that cannot be paid immediately.
Fri, 4 Jan 2008: Brits Face 2008 Tax Haven Government Pressure
Britons thinking of moving to Andorra or Monaco for tax feee living will find their government putting new hurdles in their way.
Tue, 25 Dec 2007: Looking For The Best Charity Car Donation Program?
In the new tax law, regarding the fair market value section, there are some exceptions, for example, you can base your deduction on the fair market value of the car or vehicle if the charity sells it to someone in need at a discounted price or if the charity uses the car as part of its charitable plan instead of selling it.
Sun, 2 Dec 2007: Top Paye Questions Answered
Employers and particularly new employers ask a variety of questions in administering the PAYE scheme. The top questions and answers include tax codes, week 1 basis, employee or self employment status, national insurance, statutory sick pay and what happens when an employee does not provide a P45 from previous employment.
Sat, 1 Dec 2007: Pay As You Earn Wages And Salaries Tax Scheme Explained
The PAYE system is a payroll administration system whereby employers deduct on a weekly or monthly basis income tax and national insurance contributions from employees wages and salaries. The PAYE administration involves the calculation of deductions, often performed by payroll software, and the tax returns and forms required by the tax authority which in the UK is the Inland Revenue.
Fri, 30 Nov 2007: Tips So Taxi Driver Accounts Do Not Have To Be Taxing
Taxi Drivers should not to bury their heads under the dashboard when it comes to producing a set of taxi driver accounts. Producing a set of taxi accounts without the use of a taxi accountant is possible and significantly easier if a professional taxi accounting software package is used.
Wed, 28 Nov 2007: Car Donation - Secrets To Getting The Most Money Out Of Your Charity Car Donation
For vehicle values of less than $500, the value of the tax deduction comes from the donor's own estimate of the car's value, even if the charity receives less money when they actually sell the car.
Tue, 27 Nov 2007: Registering Self Employment And The Self Assessment Tax Return Form
If you start a business and become self employed in the UK you are required to register the self employment within three months of starting up the new business. Having registered as self employed you will then be required to complete the inland revenue self assessment tax return form each year.
Tue, 27 Nov 2007: Capital Tax Allowances And The Self Assessment Tax Return Form
To accurately complete the self assessment tax return requires the self employed businessman to understand the tax system as applied to capital allowances that can be claimed against fixed assets. A potential difficult area for the non accountant these notes explain what capital allowances are and briefly how to calculate the capital allowances which reduce the net tax payable.
Mon, 26 Nov 2007: Explaining Income And Expenditure Sections Of The Self Assessment Tax Return
Every self employed businessman in the UK is required to complete a self assessment tax return form and requires accurate accounting records to support the tax return. These notes explain how those accounting records should be entered in the income and expenditure section of the self assessment tax return form.
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