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Taxes : Business & Finance
Can Health Care Premiums Be Deducted From Income Taxes?
When you itemize your tax deductions, try to find every deduction to lower your tax bill as much as possible. One tax deduction you might be able to use is your health insurance premiums. Whether you can deduct your health insurance premiums will depend on your situation.
Finding A Tax Break In A Failed Like-kind Exchange
Every day, real estate investors exchange out of investment or business properties for “like-kind” properties while deferring capital gains – all thanks to Internal Revenue Code Section 1031.The exchanger, of course, is restricted from immediately getting the sale proceeds; they go
Tips for a Schedule D
Understanding how to file your Schedule D can save you money.Jupiterimages/Photos.com/Getty ImagesConsumers are engulfed by forms and schedules during federal income tax filing season. Schedule D is the form that taxpayers use to claim capital gains or losses due to the sale of stocks,...
Can a LDS Missionary Be a Dependent on Taxes?
Latter-day saints, or LSD, missionaries spend between 18 months and 24 months performing volunteer work in one specific area of the world. While you may have claimed a child or other relative as a dependent on your tax return previously, the requirements for that person to serve an LDS mission chang
What Is Straight Bankruptcy?
The types of bankruptcy are numerous but a straight bankruptcy is considered one of the most severe forms of bankruptcy filings, and can have a lasting affect on a person's future.
Can I Get Earned Income Credit If I Don't Claim My Son?
The federal government primarily uses the Earned Income Credit to help lift families out of poverty, but single payers are not completely left out -- though they benefit far less from this program than someone with a child. If you have a dependent that qualifies you for the EITC, you must claim him
Systemic Flaw in Washington State's Regressive Tax Revenue Acquisition Process
There is a systemic flaw in the process of Washington State's regressive tax revenue acquisition system. Half of all state tax revenue comes from sales tax. The sales tax system is not fair, stable or adequate. Still, the electorate is in the dark about sources of tax revenue for Washington Sta
Be A Wise Real Estate Investor And Make A 1031 Exchange
If you are a real estate investor who is about to sell a property and use that money to purchase more real estate, make a 1031 Exchange instead of just selling outright.Making every dollar work for yo
Texas Divorce Law and Alimony
Each state establishes marriage and divorce laws. The Texas Family Code covers Texas divorce laws. Alimony issues arise in some divorce cases, though not all, and couples can agree to alimony payments without the court making the decision. Texas divorce and alimony laws are complex, so talk to a qua
Conservation Easement and Taxes in Illinois
Conservation easements are pieces of land that the property owner must preserve for the use of the local government or land preservation society, though the land remains the private property of the landowners. They may receive an income tax deduction for the easement. They are required to pay proper
What Happens When a W-2 Is Wrong?
If a W-2 form contains false or outdated information, there are a number of avenues to take. Solutions are available both before and after filing and, in many cases, the IRS (Internal Revenue Service) may be able to provide assistance or help to expedite the issue. Even if the W-2 form itself cannot
How to Estimate Your Taxes
If you earn money in the United States, you will likely have to have money put aside for your income taxes. When you are planning your annual budget, you need to take into consideration income taxes and estimate how much you will owe in order to make sure you'll have a balanced budget. If you have a
Difference Between Employer ID Number and State Tax ID Number
A sales tax exemption certificate is a legal document issued by the state. This certificate of authority gives your business the authority to collect the required sales and use taxes, and to issue appropriate reseller permit exemption documents, including resale certificates used for purchasing inve
How to Look Up a 1099-C Debt Forgiveness
Debt forgiveness is when you owe a debt to a person or entity that forgives or cancels the debt for you. In some cases, the amount of debt canceled may be taxable. The Mortgage Debt Relief Act of 2007 provides a way for taxpayers to exclude debt forgiveness from a principal residence due to a forecl
The Stories Of The Income Tax Companies Act
The government of India carry outs a tax on income which should be taxed of individuals, companies, trusts and co-operative societies, Hindu Undivided Families and any other simulated person. Tax Levy is partitioned on each of the individuals. Indian Income Tax Act of 1961 governs the levy
When Will I Receive My Federal Income Tax Check?
You have several options for filing and receiving refunds on current year federal returns. If you're due a federal tax refund, the length of time you'll have to wait to receive your money depends on the method you used to file your return and the method you chose to receive your funds. If you're re
How Do I Claim Mileage on My Taxes?
The Internal Revenue Service (IRS) allows a standard mileage deduction for travel relating to business or employment, charitable contributions and medical and moving expenses. You have two options for deducting these expenses: deduct the actual expenditures made during this travel, or take the milea
How Much Money Does a Prep Cook Make?
The job title of prep cook can be misleading; typically he does not do much cooking. He spends most of his workday preparing foods that don't need to be cooked, such as salads, and getting ingredients ready for chefs. The job may be a good opportunity for someone with no work experience, or who need
How to Ensure That a Vehicle Title Has Been Transferred to the Buyer
Selling a vehicle to a buyer who does not re-title it can put you at financial risk. If your buyer abandons the vehicle, gets into an at-fault accident or has parking tickets without transferring ownership, you'll receive fines or penalties as the last known registered owner. For this reason, you ca
New Jersey State Income Tax Help
According to the National Society of Accountants, in 2008, taxpayers paid an average of $115 for professional tax preparation of a federal Form 1040 with no itemized deductions along with a state income tax return. While the NSA considers these rates economical, many low- and moderate-income taxpaye