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 Wouldnt 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, Im going to introduce you to the financial vehicle that youve 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 Landlords Wallet


Is it time to stop filling your Landlords 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 cant 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


NCAs 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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Many Americans get creative with deductions to reduce their tax bill. Here are six the IRS approved and four that didn't pass the smell test.


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Christine Benz spotlights attractive HSA features to remember before the tax-filing deadline.


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President Trump's landmark tax legislation will benefit rich households in red states more than those in blue states, a new study finds.


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FREE WEBINAR: TheStreet and TurboTax on the Top Overlooked Tax Deductions  TheStreet

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There's a new child tax credit parents should keep in mind as they prepare for tax-time.


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This is one of the most complex tax seasons in years.


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The Internal Revenue *Service* plans to add a question to Schedule 1 of the Form 1040 asking taxpayers who claim a deduction for paying alimony to provide the ...


Supreme Court Won't Hear Case on Inflated Tax Deductions  Bloomberg Tax

The Supreme Court won't review a 2017 U.S. Tax Court case involving exaggerated tax deductions, it said April 15.


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As the Golden State approaches its first Tax Day without unlimited state and local tax deductions, the lost tax break is Topic A among Californians.


Trump's tax law, which capped your property tax deductions, remains unpopular with Americans, poll says  NJ.com

Almost half of Americans disapproved of the Republican tax law that capped the federal deduction for state and local taxes.


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Connecticut residents have brushed off the effects of a federal tax law capping state and local tax deductions, staying put and not fleeing for lower-tax states, ...


Cuomo's claim not the case for most NY taxpayers  PolitiFact

Gov. Andrew Cuomo's complaints about a provision in the 2017 federal tax law have intensified in recent months. The provision caps the federal deduction for ...


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Actress Salma Hayek lavished praise on her husband's family for their generous donation to rebuild Paris' Notre Dame Cathedral -- and clarified that they won't ...


No Jury Trial For Atty Accused Of Running $35M Tax Scheme  Law360

A Florida federal judge on Monday denied an attorney's demand for a jury trial and several defenses he raised against claims that he ran an illegal ...


NJ congressman wants to get rid of cap on tax deductions  News 12 New Jersey

A New Jersey congressman wants to make a change to the tax law.


Watch out for Notre Dame donation scams  MarketWatch

The FTC shares tips for donors to avoid scam crowdfunding sites and robocalls.


Prime Lending: Your Mortgage & Tax Deductions  KATU

It's April 15, and that means Tax Returns are DUE for all of us. Did you get all the write – offs you hoped for? How about your mortgage interest? Prime Lending ...


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The shock and mourning sparked by Monday's devastating fire at Notre Dame Cathedral is quickly giving way to a determined philanthropic effort, solicited by ...


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Riding in the rain - News from southeastern Connecticut  theday.com

A bicyclist, who wished not to be named, attempts to use an umbrella to stay dry as he moves along Water Street in New London on Monday.


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Taxes can put a big dent in your income, but you can offset that pain by taking advantage of these deductions. Report a Typo. SHARE. Facebook · Twitter ...


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The spectacle of billionaires trying to one-up each other quickly intensified resentments over inequality that have animated the Yellow Vest movement.


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Saying she wanted to deter other tax-cheating cops, U.S. District Judge Catherine Blake sentenced former Baltimore Police Commissioner Darryl De Sousa on ...


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Abolish minimum wageThe government has no business setting a minimum wage. Wages should be controlled by supply and demand. There are many ...


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Vermont Sen. Bernie Sanders is not hiding the fact that everyone's taxes would go up under his "Medicare for All" plan, though the rich would be hit with several ...


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If you are looking for a way to pay less to the IRS, think outside the box when it comes to deductions.


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Taxpayers can take these deductions, including deductions for student loan interest, IRA contributions and HSA contributions, even if they don't itemize on their ...


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If you were hoarding receipts in a shoebox with the hope of claiming a big break on your 2018 taxes, prepare to be disappointed. That's because the Tax Cuts ...


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This year, filing returns may prove a little more complex than in years past due to the many changes brought about by the TCJA. Consider starting earlier this ...


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Here are all of the tax deductions still available to American households and the requirements for claiming each one.


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Should you use the proceeds from the sale of your old home to buy your new house? Although living mortgage-free may be tempting, you might be better off ...


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Tax deductions are a great way to lower (or in some cases, eliminate) your taxable income, which can help keep more money in your pocket at tax time. With the ...


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Two decades and tens of millions; bank error; dirty deal; and other highlights of recent tax cases.


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You could end up paying more in taxes on your next return because some popular deductions were killed or cut.


Capital Works and Tax Deductions for Rental Property Owners Are A Must Says Financial Expert Matthew Mousa  High Tech Deck

Capital Works Deductions are ways of recouping some of the expenses incurred during certain types of construction done at rental income properties, says ...


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Small business owners looking to reduce their tax burden can take advantage of several money-saving deductions. These include existing deductions, such as ...


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There are several legitimate ways to pay less taxes. Under-the-radar tax breaks include deductions for jury duty and bringing your pet to work.


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The move to nearly double the size of the standard deduction has made taxes a lot easier for many Americans — a report from the Joint Committee on Taxation ...


Best PEO services of 2019  TechRadar

Get the administrative side of your business under control with our top picks for the best PEO services.


Take Advantage of These 16 Commonly Missed Tax Deductions  Entrepreneur

Don't miss out on these lesser-known tax deductions.


Tax deductions that disappeared in 2018  Bankrate.com

The Tax Cuts and Jobs Act of 2017 made several significant changes to the way individuals and businesses will file their taxes in the years to come. This tax ...


Family finances: Disappearing tax deductions  Chicago Tribune

As you prepare your tax return, you may find that some deductions you used to count on are no longer available, thanks to the federal tax overhaul passed in.


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Also known as "above the line deductions," these special provisions can be big money-savers.


11 tax deductions every independent contractor should know about  Business Insider

Independent contractors can use these tax deductions to reduce the amount they owe this tax season, according to CPA and CFP Harvey I. Bezozi.


Turn back time and get some tax deductions you may have missed out on  MarketWatch

Here's how to claim tax breaks you overlooked or forgot on an old tax return.


These popular tax deductions are still worth claiming  CBS News

The new tax law put significant limits on many deductions, but that doesn't mean you should ignore them.


Here are 6 tax breaks you'll lose on your 2018 return  CNBC

Here's some bad news for receipt hoarders: You might not be able to take a tax break for those additional expenses you incurred last year. The Tax Cuts and ...


Bill allows for double dipping on tax deductions  Arizona Capitol Times

Hoping to help charities fearing changes in federal tax laws, a House panel voted Wednesday to let Arizona residents take both the standard deduction on state.


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Claiming these under-the-radar deductions and credits could net you a larger tax refund or a smaller tax bill.


10 things you probably didn't know you could deduct on your taxes  Business Insider

What deductions are you missing when filing your tax return? Here are 10 that are often overlooked ahead of tax day 2019.


Tax credits vs. tax deductions: What’s the difference?  Bankrate.com

While both tax credits and deductions can reduce the amount you owe to the federal government in taxes, they don't operate exactly the same. Here's which is ...


All the New Tax Deductions and Changes You to Know  Fatherly

In this edition of "Bank of Dad", our columnist explains the most important updates to know about 2019 taxes as well as what tax deductions parents specifically ...


These Are the Coolest Tax Deductions You're Missing Out On  Entrepreneur

Hepcats across the country are getting ready for one of the most square activities out there: filing taxes. But, don't worry: You can still keep your sense of style ...


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NPS Scheme Benefits, National Pension Scheme Tax Benefits and Tax Saving Scheme: Any individual, who avails the NPS, can claim a deduction in tax up to ...


Tax Deductions 2018: 42 Tax Write-Offs You May Not Know About  Entrepreneur

You might not want to hear this, but it's already time to start thinking about tax preparation. Although April feels far away, the earlier you begin planning your tax ...


The 6 Best Tax Deductions for 2019  The Motley Fool

If you have a big heart or are saving for retirement, you may be able to shrink your tax bill with deductions. See which of these six key tax deductions you can ...


9 tax deductions individuals can no longer claim for their 2018 taxes  CBS News

Don't count on these popular deductions to reduce your tax bill this year – they're gone as part of broader tax cuts.


Tax time: End of popular deductions may shock small-business owners  Chicago Tribune

As small-business owners compile their income tax returns, they may have an unpleasant surprise — some popular business deductions have disappeared or ...





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