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Taxes : Business & Finance
Is An Income Tax Problem A Legal Problem?
Having the CRA after you can be extremely scary and stressful, so how do you determine if your tax problem is in fact a legal problem?
How to Apply for a Tax Payer Identification Number
A tax identification number is issued to anyone who has to file federal tax papers in the U.S., but does not qualify for Social Security. The situation typically applies to a person who is a citizen of another country. Someone legally visiting the U.S. on a work project, for example, will need a tax
Royalties Tax Law
Royalties are payments made to a party for the use of property. The property that one pays royalties for can be physical such as oil and gas royalties or intellectual such as franchise or music royalties. Royalties are always deductible as a business expense for franchisees but there are a variety
Automatic Extension Requests For Businesses
The internal revenue service has recently been taking steps to cut down on clutter and streamline the tax filing process. Now they’ve simplified business tax return extensions.
Top 10 Tax Tips for the Self Employed
Many professionals have decided to become self-employed since they have such great new technology to help them along. Many people are making careers for themselves at home, working the hours they desi
Can I Deduct All Foreign Taxes Paid?
Not all Americans work and live in the United States. However, even those citizens who live abroad are expected to pay income taxes. This is on top of the taxes that many of them must pay to the foreign governments where they live and work. The federal government recognizes that in some cases paying
Tax Planning - Pay Only What Is Due To Uncle Sam
"In this world, nothing is certain but death and taxes", wrote Benjamin Fanklin in 1789. If we taking care of our health and be safety conscious, we may be able to outwit death until we are very old. But for taxes, you cant escape from paying tax since you start your first job, unless you
Understanding Tax Liabilities
Tax is a definite portion of the income of an individual or business that the government regularly deducts to fund public works.
Credit Line, or Revolving Line of Credit
Describes a line of credit or credit line to be used to finance a business.
How to Check on a Tax Refund From an Electronic Filing for the State
After you have filed your state tax return online, you wait for the refund. You may wonder where the refund is, what the status is or when you can expect to have the refund check in the mail or in your bank account . There is an easy way to find out where your state tax return refund is and it only
Canada's Tax Cheat Internet Spider-US Version Next?
Oh, Canada! In case you haven't heard, Canada is going after tax cheats in a very unique way using the Internet. If the effort is successful, one has to wonder how long it will be before the IRS follows suit.
How to Get Child Support Payments Reduced
When a couple with children decide to separate, child support is an issue that must be addressed. Child support orders are determined based on both parents' income and expenses. Since circumstances are bound to change over time, child support orders can be modified. If you experience a significant i
What Is Exempt From Withholding?
The most common form of tax withholding is the amount your employer retains from each of your paychecks to pay your estimated taxes to federal, state and local governments. And although most of the wages you earn at work are subject to withholding, there are certain payments you receive from your em
Federal Tax Filing Tips
If you're the type of person who prefers to file your own taxes instead of hiring someone, whether it be to save money or to ensure that they are being done correctly, you know how frustrating and hectic this process can be. You have to gather many different receipts, forms and the energy to spend a
Taxes on Childcare Workers
Babysitters, nannies and childcare workers often get lumped into the same category. The differences between the various job descriptions, however, determine how taxes are paid. You do not need to withhold taxes from the pay for the 15-year-old who plays with your child so you can go out to a movie.
The Sixteenth Amendment Can Not Possibly Be You or Your Labor
It is that time again and everyone would like to know if the Sixteenth Amendment makes ordinary income liable for taxation and can the IRS take whatever it wants? There are only Two (2) things you really need to know about the Sixteenth Amendment and they're both discussed here.
IRS Tax Deduction & Donation of a Vehicle
Donating a vehicle to a charitable organization can provide you with a fairly significant charitable tax deduction. However, when you plan on claiming a tax deduction for donating a used or new vehicle, the IRS imposes additional requirements that are generally unnecessary with other types of proper
Tax Filing Mistakes You Should Watch Out For
We obviously dislike taxes; neither can we pretend to like anything related to taxes! It is because of this dislike, we try to keep away from taxes as much as possible. We may have plenty of time to fill our returns early, but in most cases, we wait until it is almost the deadline to try and rush ov
Homeowner's Tax Deductions
The U.S. government wants as many people as possible to own their own home. For this reason the government gives many tax deductions and credits to people who own their own home. If you are unaware of all of the different ways that you can benefit from these tax breaks, then it is important that you
How to Deduct Home-Improvement Projects on Taxes
If you carry out projects that increase the value of your home in some way, you can deduct the costs from your taxes. The way you deduct home-improvement projects varies by situation. Depending on the project, you have to fill out different forms to claim the tax deductions.