Tax Deduction Information

Part 2 of 5 On The Home Business Set-Up Guide


Dear Reader,

Home Based Business Tax Deductions


Running a home based business reaps many wonderful tax deductions that other businesses some times may not claim. Unfortunately to many small business owners end up paying the government taxes every year because they are unaware or several small business deductions that are available.

Seven Key Tax Deductions for the Self Employed


As a sole proprietor, it*s wise to familiarize yourself with the some key deductions that may reduce your tax bill for 2004. Small-business consultants generally recommend that you hire an accountant to prepare your tax returns, payroll and financial statements. But you should also meet with your accountant well before the year-end rush to discuss such matters as tax planning, and record keeping for tax deductions.

Wealth Creation and Mortgage Planning - Two Great Tastes that Taste Great Together


What if I were to tell you that almost everything you have been told about what to do with your home has been absolutely wrong and that one of the worst ways to build wealth is through your home And what if I further went on to show you that anyone who perpetuates this myth probably is not your best source for accurate financial information

The Job Loss Myth


Presidential candidate John Kerry is fond of stating that “... not since Herbert Hoover has any president lost more jobs than George W. Bush.” And there is a kernel of truth to the statement; thanks to technology, jobs require less human intervention to complete. However, a larger factor in this seeming loss of employment is due to the evolution of the American workforce from a lot indentured to the confines of one company or one job title toward the Jeffersonian ideal of every person being a free agent, or indie.

Small Business Tax Deductions for Year End 2004


As a small business owner, its wise to familiarize yourself with some key deductions that may reduce your tax bill for 2004.

33 Essential Year-End Financial Tasks


The end of the year is a traditional time of celebration, excitement, reflection and planning – not withstanding the hectic holiday shopping of course. However, the end of the year also holds another, lesser-known but more significant, importance - the optimal time of the year to complete year-end financial tasks. A new booklet in the Financial Booklets Series from Marshall Rand Publishing reveals the most essential of these tasks.

5 Simple Steps: Earn an EASY ROTH-IRA Million!!!


So, you wanna earn a million dollars, super-duper easy How would you like the federal government to give you a big, huge tax break Wouldn’t it feel deliciously good to earn a Million Dollars of income, completely tax free How would you like to earn a million dollars of income passively, quietly, without lifting a finger Well, put your seatbelts on, folks, because in a brief nutshell, I’m going to introduce you to the financial vehicle that you’ve been looking for! Welcome to the wonderful world of investing through a ROTH IRA in 5 simple steps:

Is it time to stop filling your Landlord’s Wallet


Is it time to stop filling your Landlord’s Wallet

Deadlines Approaching For Filing 1099s For Independent Contractors


While the middle of January may seem a bit early to begin thinking about taxes, 1099-MISC filing deadlines are looming for businesses. Generally speaking, IRS 1099-MISC is the form used to report miscellaneous income that you paid to persons during 2004 in the course of your trade or business.

Tax Records - What You Should Keep And For How Long


Many taxpayers are confused about how long they should keep tax records. The term "tax records" refers to your tax returns and the documents that support the information in the returns. These documents can include receipts, bank statements, 1099s, etc. If you are one of the unlucky few to be audited, these records will be vital to fending off the IRS.

How To Get An Extension To File Your Business Tax Returns


Yes, the tax season is upon with the first filing date for some businesses being March 15, 2005. If you can’t imagine getting your tax returns together by that date, you need not worry. The IRS automatically gives you an extension if your file the appropriate form. As you might expect, there are different forms for different businesses.

Five Reasons To Stay Committed To Your Retirement Savings


NC—As an investor working to build your portfolio, you face many day-to-day demands on your money. Its not always easy to determine what your financial priorities should be, or to stay committed to them – especially when markets are volatile.

Keep More of What You Make - Start A Home-based Business


The best advantages of owning a home-based business are you can turn non-deductible expenses into tax deductions. The deductions you create for your Schedule C have a more significant impact on the total taxes you pay than do deductions on Schedule A. Schedule C deductions not only reduce federal income tax, they also reduce self-employment tax, Medicare tax, and state and local taxes.

10 Tips for Investing in Distressed or Foreclosed Properties


1. Search on the world wide web for distressed or foreclosed properties as a starting point. Use a professional REALTOR to identify great foreclosure deals for you. You may be successful at searching the web on your own, but keep in mind some of the information is outdated, some may be incorrect, and some of the available properties are not even listed. A REALTOR subscribes to updated MLS listings and can offer you the most current information available.

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Opinion: How to get the medical tax deductions you're entitled to
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Chances are that you're not taking all the tax deductions to which you're legally entitled—leaving money on the table, in other words. That's because the category of medical costs that are tax deductible includes a lot more types of expenses than most ...



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Why Limits on State Tax Deductions Might Not Be Such a Big Deal After All
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The TCJA Shifted The Benefits Of Itemized Deductions To Higher-Income Households
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I doubt Congress intended to so profoundly change the nature of tax deductions through the TCJA—or if many lawmakers who voted for the law were even aware of what they did. But whether they knew it or not, they may have just opened the door to even ...

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What Are the Tax Benefits of Buying a House?
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U.S. News & World Report

Should You Adjust Your Income Tax Withholding?
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The Herald Bulletin

Anderson school board member has 2 homestead deductions
The Herald Bulletin
Madison County Auditor Rick Gardner said it's not legal to receive two homestead tax deductions. “We are sending her a letter to come in,” Gardner said Monday. “Although there are other names on the deed, she (Chaille) filed for the homestead.”.



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Charitable Giving: How To Save Tax Deductions Despite New Law
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What NYers send to Washington is much less than they get back
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Cuomo has argued the $10,000 cap on state and local tax deductions hurts blue states, like New York, who already give more than Washington that it receives back. In New York, there's a similar battle between upstate and downstate. The downstate area ...
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Tax Relief for Victims of Hurricanes and Other Natural Disasters
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Casualty and theft losses have long been available as federal income tax deductions for taxpayers who qualify. They are generally claimed as itemized deductions on Form 1040, Schedule A, using IRS Form 4684 and based on a percentage of the taxpayer's ...



Don't fall for Measures 103 or 104
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No one is trying to put a sales tax on Oregon groceries. Neither are legislators stampeding to take away Oregonians' tax deductions. So please don't fall for the claims being made on behalf of Measures 103 and 104 on the Nov. 6 ballot. Both measures ...

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