The Golden Age of Rich People Not Paying Their Taxes The Atlantic
An eight-year campaign to slash the IRS's budget has left the agency understaffed, hamstrung, and operating with archaic equipment. The result: a ...
Kansas, Missouri have high taxes on cell phones, report says The Wichita Eagle
Kansas, Missouri and Nebraska all ranked high in a report tracking tax rates on wireless *service*.
Ways to save on your taxes FOX 59 Indianapolis
Talking about your money matters today with Jordan Schwartz from Strategic Wealth Designers. We're talking taxes toward the end of the year and how to keep ...
Climate change: Protecting the poor from green taxes BBC News
As President Macron caved into the yellow vest fuel tax protests, President Trump was triumphant. The French humiliation showed people rejected the sort of ...
0%: The correct corporate tax rate | TheHill The Hill
If many corporations are already effectively paying nothing in taxes, why bother with an official tax rate?
Illegal Tax Moves to Avoid | Taxes U.S News & World Report Money
It may seem like a harmless fib, but lying on your taxes can result in fees, interest and penalties.
Hired a nanny this year? Claim this tax credit for 2018 CNBC
As you prepare your tax documents for the end of the year, remember to get right with your nanny. That's because if you're paying her under the table, you won't ...
Altoona taxes to drop | Front Page Leader-Telegram
Homeowners in Altoona will receive an early Christmas present in the form of lower property tax bills, thanks in large part to the largest lottery credit in state ...
Columbus City Council approves ticket taxes and Crew deal The Columbus Dispatch
After much debate for the past several months, the Columbus City Council voted 6-0 to adopt two 5 percent ticket taxes to fund the arts and improvements to ...
French Riots Really Aren't About Global Warming â They're About Tax Heavy Socialism - Investor's Business Daily
French Riots Really Aren't About Global Warming â They're About Tax Heavy Socialism Investor's Business Daily
Noisy demonstrations in Paris and other European aren't merely about global warming. They're about the growing tax burden they face and the EU's socialism.
Want to pay less in taxes? Here are last-minute tax tips for 2018 NJ.com
AS the year comes to a close, make sure you know what changes to expect under the new tax plan - before it's too late.
How State Taxes Could Affect Where Bryce Harper and Manny Machado End Up Sports Illustrated
Manny Machado and Bryce Harper face enormous decisions about their baseball futures, but how might state taxes steer their final free-agent decision?
Californians Face Tax Deadlines After Devastating Fires NPR
Property taxes are due in California Monday. In Butte County, people who lost their homes to fire are rushing to defer taxes and get their property reassessed.
What Are the 2019 Tax Brackets? Motley Fool
Here's a look at the tax brackets for 2019 and what they could mean to you.
7 year-end tax tips to boost your refund CNBC
The new tax law has put a whole new spin on year-end tax planning, though it hasn't eliminated the need to do it altogether. "The tricks we had in our back ...
It May Be Time to Stop Itemizing Your Tax Deductions NerdWallet
The standard deduction nearly doubled for 2018, leaving many taxpayers wondering whether itemizing tax returns is worth the effort anymore. Tax pros share ...
Do the tax law changes help or hurt you? A new calculator can help you find out USA TODAY
As if tax time isn't confusing enough, filing in 2019 will be even more baffling following the new law that significantly changes how federal taxes are calculated.
Taxes could present 'significant problem' for Trump, says ex-federal prosector | TheHill The Hill
Former federal prosecutor Gene Rossi on Monday said that taxes could present significant legal hurdles for President Trump after federal prosecutors in New ...
Do NJ voters secretly want to pay higher taxes? New Jersey 101.5 FM Radio
You'd think that asking if rioters actually want higher taxes would be a crazy question to ask with an obvious 'no' answer. However, that's not the case in NJ, well ...
Paris Is Burning Over Climate Change Taxes -- Is America Next? Forbes
The bottom line is this: economic freedomâthe kind you get with a large middle classâleads to prosperity, economic growth, and technological innovation.
'Our taxes are out of control': Divided Oak Park board approves 2019 budget Chicago Tribune
The village of Oak Park approved its 2019 village budget on Dec. 10, a budget that will increase the village's portion of a residential property tax bill by 3 percent.
House Republicans Recast Tax Bill, Seeking New Momentum The Wall Street Journal
House Republicans reshaped their tax bill, trying again to build momentum for a plan that has struggled to gain support in both chambers of Congress.
Why greens are turning away from a carbon tax POLITICO
Putting an economic price on greenhouse gases is proving a hard sell with the public, even as time to head off climate change shrinks.
UBS report: Many Americans should expect bigger tax refunds in 2019 Business Insider
The new GOP tax law went into effect at the start of 2018, and a UBS analysis suggests it could have a big impact on federal tax refund checks.
Hammered for rising property taxes, Ald. Tom Tunney runs for political cover Chicago Sun-Times
Some long-term Lake View residents say they are being punished for working hard to revive their neighborhood, Ald. Tom Tunney (44th) said.
NJ marijuana legalization: What will NJ get from legal weed taxes? Asbury Park Press
While New Jersey marijuana legalization may be inching loser to reality, legal weed taxes are not likely to create a revenue windfall.
Property taxes climbing, but needs are many, activists say Star Tribune
Property taxes are rising, and objections are being raised, but in St. Paul and Minneapolis, criticism has come with a twist. Jeffrey Strand, a longtime activist in ...
Why Low-Code Is The Secret To Enterprise Tax Transformation Forbes
Retailers' tax function is so complex because it is so multifaceted: from sales and VAT tax calculations at the point of sale to tax reporting for shareholders to ...
Murphy and N.J.'s top D.C. Democrats met, talked property taxes, health care and other big issues. Then came a little surprise. - NJ.com
Murphy and N.J.'s top D.C. Democrats met, talked property taxes, health care and other big issues. Then came a little surprise. NJ.com
A majority of New Jersey's soon-to-be Democratic-heavy congressional delegation elected in the Trump midterm huddled behind closed doors Monday with Gov ...
6 last-minute tips that will trim your 2018 tax bill CNBC
Before you break out the Champagne, take a look at these six strategies that could help you trim your 2018 tax bill â as long as you act before Dec. 31.
Modesto City Council approves tax rate for marijuana retailers The Modesto Bee
The City Council in Modesto, California, has approved a tax rate for cannabis retailers and other marijuana businesses, including distribution, microbusiness, ...
Pay Your Taxes In Bitcoin, Trigger Tax Losses On Price Drop Too Forbes
With Bitcoin and other crypto prices down again, many holders don't want to sell. But if you owe taxes, how about paying them in Bitcoin? Selling now may ...
All the Taxes in France The Wall Street Journal
Even before the fuel tax, France had the highest burden in the West.
UK Parliament Member Wants You to Pay Your Taxes with Bitcoin CCN
Eddie Hughes, a member of Parliament in the United Kingdom, wants locals to be able to pay their taxes with bitcoin, the largest cryptocurrency.
How Much In Taxes Will I Owe When Selling My Home? Forbes
Will you owe capital gains taxes when selling your primary residence? Is selling a home tax free? We walk you through what you need to know before selling a ...
HSP seeks volunteers for tax preparation program Carroll County Times
Human Services Programs of Carroll County, Inc., is looking for volunteers to help expand its free tax preparation program in the new year.
Macron Announces Measures to Placate Protesters The Wall Street Journal
French President Emmanuel Macron vowed to boost the minimum wage and cut taxes on some pensioners in an attempt to placate âyellow vestâ protesters who ...
For $8.41 in Unpaid Taxes, the Government Took Uri Rafaeliâs House The Wall Street Journal
How Michigan misuses a procedure meant to target pirate ships and drug lords' mansions.
How high are wine taxes in Alabama? AL.com
Alabama's has one of the highest excise taxes on wine in the country, according to the Tax Foundation.
The 13 N.J. counties where undocumented immigrants pay the most in taxes, ranked NJ.com
Though they are living here illegally, undocumented immigrants are paying millions in taxes, according to estimates.
Point Pleasant Beach Considers Airbnb Tax Point Pleasant, NJ Patch
Point Pleasant Beach officials are considering imposing a tax on airbnbs. Point Pleasant Beach introduced an ordinance last month that would impose a 3 ...
Leaving an IRA to a loved one? How to avoid a tax bomb CNBC
You wouldn't trust your toddler with a pile of cash, right? Well, this estate-planning technique may allow you to safely pass your IRA on to future generations â if ...
Japanese Regulator Aims to Reduce Crypto Tax to Revitalize the Market CCN
In October, Japan hinted its plans to ease the process of taxing crypto investments to refrain from impractical policies affecting the local market.
1 Smart Tax Move to Make in December 2018 Motley Fool
Most of the provisions of the tax reform bill that passed in late 2017 took effect at the beginning of this year. Between new tax rates and brackets, expansions of ...
Divorcees can save on taxes â if they take this one step CNBC
If you're planning on shedding weight in 2019 â in the form of your soon-to-be ex â be sure you understand this tax-planning benefit. Why the "head of ...
Six months after Kate Brownâs special session tax cut, sheâs ready to scrap part of it - OregonLive.com
Six months after Kate Brownâs special session tax cut, sheâs ready to scrap part of it OregonLive.com
A month after she won re-election, Gov. Kate Brown is calling for lawmakers to partially undo her 2018 special session tax cut and significantly trim the broader ...
Shamari and Ronnie DeVoe admit owing $366,000 in back taxes to IRS Atlanta Journal Constitution
Originally posted Sunday, December 9, 2018 by RODNEY HOemail@example.com on his AJC Radio & TV Talk blog. Earlier this month, RadarOnline broke the news ...
Tinley Park OKs tax break for new owners of Holiday Inn hotel Chicago Tribune
Tinley Park has approved the initial property tax abatement for the new owners of the village's Holiday Inn, part of a larger package of incentives worth $4 million.
10 Smart Steps to Minimize Taxes and Penalties on Your RMDs Kiplinger's Personal Finance
Here are 10 smart RMD moves to help you minimize taxes, meet deadlines and avoid penalties when you make these mandatory withdrawals from your ...
The Tax Cuts And Jobs Act: 3 Changes You Should Know Forbes
Tax season is coming more quickly than you might think â has the Tax Cuts and Jobs Act affected you? Read here to discover more!
Lafayette Parish voters approve charter change, reject taxes KATC Lafayette News
Yesterday, voters in Lafayette Parish voters approved a change to the city-parish charter, but rejected efforts to improve insurance rates with better funding for ...
Sitting on $11 million? Give it away to save on estate taxes CNBC
For the ultra-wealthy, it just might make sense to give a few million dollars away. That's because this strategy helps you reduce your taxable estate. Here's what ...
Treasury Softens Parking-Tax Hit for Churches, Nonprofits The Wall Street Journal
Under new rules, nonprofits can use any reasonable method to calculate costs used in computing employee-parking taxes.
Paying Taxes Wisely: A Fresh Look at Tax-Efficient Withdrawal Strategies - Kiplinger's Personal Finance
Paying Taxes Wisely: A Fresh Look at Tax-Efficient Withdrawal Strategies Kiplinger's Personal Finance
Sometimes it pays to go against conventional wisdom. Here are two ways to possibly reduce taxes in retirement while extending the life of your nest egg by ...
It may be time to stop itemizing your taxes Yahoo Finance
Around this time of year, many taxpayers begin the annual ritual of pondering The Big Question: Do I take the standard deduction or spend time hunting for ...
5 Retiree Tax Tips for 2018 | Retirement U.S. News & World Report
These tax changes could affect your retirement income.
How one maverick lawmaker almost cut your property tax bill â until another one made his own deal - Buffalo News
How one maverick lawmaker almost cut your property tax bill â until another one made his own deal Buffalo News
When members of the Erie County Legislatures Republican-supported minority struck a deal with a maverick Democratic lawmaker, they thought they would ...
Sherrod Brownâs tax math on GM moving to Mexico The Washington Post
The senator from Ohio said GM's tax rate would be cut in half if it moved its Lordstown plant to Mexico. That's open to interpretation.
âYellow Vestâ Protests Shake France. Hereâs the Lesson for Climate Change. - The New York Times
âYellow Vestâ Protests Shake France. Hereâs the Lesson for Climate Change. The New York Times
There is little doubt among scientists and economists that carbon taxes are needed to reduce fossil fuel dependence. The question is how to design them to ...
Going Through Divorce? Start These 3 Steps Today To Save On Taxes Forbes
The Tax Cut and Jobs Act eliminated the alimony deduction for divorces after 2018. The new law will mean less money for expenses of the two household.
Hereâs why your 2019 property tax bill is so high St. Paul Pioneer Press
If you're a homeowner with sticker shock over your most recent tax bill, you are not alone. Homeowners are getting hit with a double-whammy on their proposed ...
Make the Most of Potential Tax Deductions Under the New Tax Law Kiplinger's Personal Finance
With some year-end planning, you may still find it worthwhile to file an itemized return to lower your 2018 tax bill.
Republicans are taxing churches to help corporations. Really. The Washington Post
Republicans tax churches to help pay for big corporate giveaway. You would be forgiven for thinking this is a headline from the Onion or the fantasy of some ...
Shakira Reportedly Facing Charges for Tax Fraud Complex
A year-long investigation has led to the Spanish government claiming that Shakira will face criminal tax fraud charges.
Justin Trudeauâs Carbon Tax Push Finds Critics on All Sides The New York Times
A conservative shift in Canada's provinces has opened a new battle over carbon pricing, threatening one of the prime minister's goals. But that is not the only ...
The Bush Tax Betrayal Townhall
The eulogies for George H.W. Bush keep rolling in, and a great American hero's life has been given proper tribute..12/11/2018 11:59:18AM EST.
Why pro athletes may lose a fortune because of the new tax law MarketWatch
CPAs who work with athletes say they can no longer get full deductions for state and local taxes â or for itemizing.
Herbert proposes $200 million tax cut â but also new taxes to 'broaden' Utah's shrinking tax base - Deseret News
Herbert proposes $200 million tax cut â but also new taxes to 'broaden' Utah's shrinking tax base Deseret News
In a year with more than $1 billion in new state revenue, Gov. Gary Herbert is proposing a $200 million sales tax cut to help Utahns keep more money in their ...
Louisiana Supreme Court: 2015 tax break change unconstitutional NOLA.com
The law scaled back an income tax break Louisiana allows for taxes paid to other states.
France Suspends Fuel Tax Increase That Spurred Violent Protests The New York Times
PARIS â Trying to quell its most serious political crisis, the government of President Emmanuel Macron announced on Tuesday that it would suspend the ...
Stadium taxes: You'll pay more for Reds, Bengals stadiums Cincinnati.com
Once again, Hamilton County leaders broke a promise.
10 Tax Moves to Make Before 2019 The Motley Fool
With 2018 rapidly drawing to a close, this may be your last chance to make some key tax moves.
5 tips for saving money on your 2018 tax bill USA TODAY
With the changes in tax law approved last year, here are some things to do -â and not do â by Dec. 31 to save money on your taxes.
Proposed foreign tax credit regulations issued Journal of Accountancy
The IRS issued proposed regulations on the determination of the foreign tax credit after the changes in the law made by the Tax Cuts and Jobs Act.
What the Amazon tax breaks really mean Vox.com
I think the easiest way to understand Amazon's HQ2 and the specific question of cities handing out tax subsidies is to abstract away from the particular details of ...
House Republicans unveil new version of tax bill MarketWatch
House Republicans reshaped their tax bill on Monday, trying again to build momentum for a plan that would tie up loose ends in tax policy but that has struggled ...
Broadalbin residents outraged about potential tax hike WRGB
BROADALBIN, N. Y. (WRGB) - A sudden spike in taxes has Broadalbin residents concerned and questioning why many of them will be paying nearly triple what ...
These two accounts will ramp up your tax-free income in retirement CNBC
Shave down your tax bill in the future by funding these two savings accounts in the present. Employees are likely familiar with the traditional 401(k), an account ...
Sorry France, but fuel taxes are a bitter pill we must all swallow New Scientist
The reversal of France's fuel tax sends a worrying message to world leaders meeting this week in Poland to firm up climate commitments, says Olive Heffernan.
In eulogy, Alan Simpson praises George HW Bush for raising taxes Washington Examiner
Former Wyoming Sen. Alan Simpson on Wednesday used his eulogy of George H.W. Bush as an opportunity to praise the former president for agreeing to raise ...
Hundreds of Thousands in France Protest Taxes by Blocking Roads The New York Times
The country's âYellow Vestâ movement demonstrated nationwide, blocking roads and roundabouts, to register anger about fuel taxes and the loss of purchasing ...
Tax changes make "ABLE" savings accounts even more valuable for people with disabilities CBS News
Tax changes give eligible people with disabilities several ways to put additional money into these special accounts.
Westchester lawmakers approve $1.9B budget, 2 percent tax increase The Journal News | LoHud.com
Plan relied on $23M from a complex and incompleted plan to sell Westchester County Center parking lots.
The âTax the Richâ Delusion of the Democratic Left The Daily Beast
Ever hear anyone on the left spell out exactly how they're going to pay for Medicare for All, free college, and all the rest? Didn't think so.
Guns and Taxes NRA ILA
David Hogg wants a federal tax on firearms and ammunition. He has repeatedly broached the idea, including multiple times on Twitter, and only sometimes ...
Why Charitable Trusts Rule Under The New Tax Law Forbes
Got a concentrated position of highly appreciated stock? Turn it into guaranteed income for your familyâand a gift to your favorite charitiesâwith a charitable ...
Construction resourcing boss banned for failing to pay correct taxes GOV.UK
Boss of Bolton-based company that supplied construction workers has been disqualified for seven years for failing to declare all the company's tax liabilities.
Letter from Africa: How to get Ghanaians to pay their taxes BBC News
Ghana's government should ban funerals for people who refuse to pay taxes, writes journalist Elizabeth Ohene.
Six tax deductions you'll lose on your 2018 return CNBC
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 ...
Kirkland business owner gets 5 years for tax evasion KOMO News
SEATTLE (AP) â A Kirkland businessman has been sentenced to five years in federal prison for a long-running tax-evasion scheme. The U.S. Attorney's Office ...
Idaho tax revenues continue to fall short, creating âunusualâ challenge for lawmakers - Idaho Statesman
Idaho tax revenues continue to fall short, creating âunusualâ challenge for lawmakers Idaho Statesman
Idaho is on track to have roughly $63 million less in tax revenue than budget forecasters predicted, with general fund revenue collections for the month of ...
Tax revenue from legalized marijuana eyed for subway repairs Curbed NY
The legalization and taxation of marijuana could garner $670 million annually for New York that could help fund subway repairs.
Your next Uber, Lyft ride could be more expensive thanks to tax bill | WSB-TV WSB Atlanta
ATLANTA - Ride-hailing companies like Uber and Lyft could be on the hook for tens of millions of dollars as a tax dispute with the state heads to court.
Two Boots Seized for Unpaid Taxes at Yet Another Location Eater NY
The Hell's Kitchen location of Cajun-ish pizza chain Two Boots has closed after being seized by the state for unpaid taxes â the fifth location nationwide to have ...
NBC 10 I-Team: Another RI funeral home hit with tax bill Turn to 10
The owners of another Rhode Island funeral home told the NBC 10 I-Team they've been hit with a hefty tax bill, following a series of audits on funeral homes ...
How single folks should handle estate-tax planning under the new tax law MarketWatch
The hugely increased estate and gift tax exemption is indeed a tax cut for the rich.
Telford approves tax increase | News Montgomery Newspapers
TELFORD âTelford Borough Council members unanimously voted to adopt a tax ordinance that will increase taxes by 4.1 percent at their Dec. 3 meeting.
Crowded agenda, including ticket tax, $15 minimum wage tax-incentive rule, set for Monday Columbus City Council meeting - The Columbus Dispatch
Crowded agenda, including ticket tax, $15 minimum wage tax-incentive rule, set for Monday Columbus City Council meeting The Columbus Dispatch
A proposal tying tax incentives to at least a $15-an-hour wage requirement is just one of a number of items to be decided by the Columbus City Council on ...
Cook County 2018 property tax bills online now WLS-TV
Cook County Treasurer Maria Pappas says property owners can start get an early start on paying their 2018 taxes.
Wanted: a fair carbon tax Nature.com
Unrest in France at a rise in fuel prices highlights how the necessary transition to a clean economy must be carefully managed.
How To Get An Instant Pay Raise
As a gentleman was leaving my class recently, he wanted me to clarify something I had said. He was making sure that he should take his four or five thousand dollar tax refund and pay off debt.
Save Money on Taxes - Double Your Income Now With Tax Saving Tips on Deductions
Adding Your First Additional Stream of Income
Hurricane Katrina ? How To Use Your Business Loss To Get A Refund on 2004 Taxes
With the massive losses caused by Katrina, the economy of the Gulf Coast region is in extremely bad shape. Fortunately, there is a quirk in the tax code that can help you generate a large refund from your 2004 taxes.
How Likely Are You To Be Audited?
Statistics for Individuals
Home Business Tax Tips
If you have recently started an Internet or home business, your probably a little intimidated by having to submit a tax return and the possibilities of being audited. Simply follow these guidelines and rest assured that filing your next tax return will go smoothly.
Get Uncle Sam To Pay $36,000 For Your Childs Education!
Let's assume that you would like to begin saving for your children's education fund. At the end of each year, for the next 8 years, you will contribute $2,000 into a Coverdell Education Savings Account (Education IRA), using your after-tax dollars. The money grows tax-free, and neither the contribution nor the interest is taxed when you make a withdrawal, as long as you use it for education purposes.
Tax Tips to Save Money on Taxes - Get the Corporate Kick and Save Loads of Money
Why a Corporation Helps Save You Taxes
Rental Property Tax Deductions
Own residential rental properties? This article discusses how income from those properties impacts your taxes.
Early Distributions From Retirement Plans
An early distribution from an Individual Retirement Arrangement (IRA) or a qualified retirement plan need not be a "taxing" experience. Fortunately, there are exceptions to early distributions.
IRS Statute of Limitations: Do Taxes Ever Expire?
Many Americans believe that an IRS debt is a debt for life and that the tax collector can hound them to the grave. Thankfully, that is not the case and there are statutory time limits on the ability of the IRS to examine and collect taxes. Taxes do expire at some point and in some cases IRS does not get the money they were legally entitled to collect.
Keeping Your Own Money ? NOT Handing It Over To The Taxman
Most people trying to make a crust online (or offline for that matter) are so focused on doing just that, they ignore taking simple steps to ensure that they hang on to just as much of it as they can. Instead, they hand over large lumps of their hard-earned money in tax, usually in one of two mistaken beliefs. Either:
How Home-Based Businesses Can Avoid Giving Uncle Sam More than His Share
How Home-Based Businesses Can Avoid Giving Uncle Sam More than His Share By Darren Oliver With the rush to file your taxes by April 15th, you probably did not consider the possibility that you overpaid. According to the General Accounting Office, in 1998 alone, there was $311 million paid unnecessarily to the IRS. Do not count on the IRS to tell you if you have overpaid because they are not required to but you can file an amended return for up to three years. Chances are, you either prepare your business taxes yourself or have your tax preparer or CPA does them. There a number of issues surrounding either tax preparation method, which can result in your tax liability being calculated as higher than it actually is including missed deductions, numerous changes in tax laws or being given incorrect advice. As a home-based business professional, there are a number of deductions you are entitled to which many tax preparers often miss. For example, if you run a home office you are entitled to deduct expenses for the percentage of square footage the home office is occupying. Expenses include the combined total of mortgage interest, property taxes, utilities, repairs, etc. For example, if 250 square feet of a 1,000 square foot house is being used for a home office, you are entitled to deduct a quarter of your total expenses. Although some deductions may seem minor, over an entire year, they can add up to thousands of dollars that you are unnecessarily paying the IRS. That is money that you could be using to grow your business. Karen McClafflin, owner of home-based Secret Canyon Realty in Colorado Springs, CO, was able to recover $11,000 when her tax preparer failed to include home office and automobile deductions in her past returns. Another area, which causes many business owners to overpay, is being given incorrect advice by their CPA, tax preparer or even the IRS directly. In a poll performed by Money Magazine, the average tax preparer, prepares an average of 480 returns between February 1st and April 15th, that is a lot of returns in a relatively short amount of time which makes it difficult for your return to get the time and attention it deserves. This same poll also found there was an average discrepancy of 300% between what the tax preparers said was due and what was actually due. Moreover, in a poll of 50 professional tax preparers, consisting of 10 basic tax questions, none answered all 10 questions correctly and only 34 got at least half correct. This problem does not extend to just tax preparers or CPA's. In the IRS's 2001 assessment of their own 544 call centers, they found that 50% of the time, their representatives gave incorrect or insufficient advice. Whether you do your taxes yourself and had to call the IRS for clarification on an issue or your CPA did, odds are the answer was not accurate. The United States tax law is one of the most complex in the world. Not to mention, tax laws change every year and have changed tremendously in the last couple of years. Even the best tax preparer, CPA or even IRS representative can easily make a mistake or, forget to use an exemption which could reduce your tax liability. If you have not yet filed your taxes, it is a good idea to get a second opinion from an independent source. The extra money and time spent in doing this could save you thousands. Look for someone or a company who: ˇ Has sufficient years preparing home-based business tax returns ˇ Prepares less than the average number of returns between January and April so that your return gets sufficient time and attention. ˇ Have had clients get a second opinion. In addition, talk to those clients to get there first hand insight. ˇ Is willing to pay for a second review of your tax returns to ensure accuracy. ˇ Is willing to take MSN's online Tax IQ Test at http://moneycentral.msn.com/investor/calcs/n_taxq/main.asp. Although designed for consumers, this test contains basic tax information that even junior level tax preparers should know. Just as you trust a surgeon with your life, you trust this individual or company with your money and confidential information. Be highly selective and do not be afraid to put them through a rigorous qualification. If they are not willing to participate in your qualification then either they do not know their stuff or, your business is not that important to them. If you already filed your taxes or think you might have missed out on deductions, have been given bad advice or failed to take advantage of a tax law change which could reduce your liability for previous tax years, what can you do? The good news is that by law, the IRS is required, for up to three years, to review your returns and records as many times as needed to find errors. You have the same three years to get a second opinion and file an amended return. In fact, in 2002, 3.3 million taxpayers filed an amended return. Samuel Rowley, owner of Muffler Masters in Colorado Springs, was able to recover $14,500 through the filing of an amended return when it was found that he overpaid FICA and payroll taxes. You may worry that an amended return will trigger an audit however; the IRS itself admits this is not the case. In 2002 alone, 3.3 million taxpayers filed an amended return. The IRS is not the big, bad agency we used to know. In fact, statistics show that audits are down and continue to decline. Businesses throughout the U.S. overpay their taxes to the tune of billions each year and your money could be part of the billions that is overpaid. When it comes to your taxes, always get a second opinion to ensure you are not paying more than you should and, you can even hit pay dirt by looking back.
A Taxing Investment
April 15 - The most dreaded day of the year is right around the corner. Are you ready? Some of the most neglected (and misunderstood) tax issues are those related to your investments. If you invest with taxes in mind, you can avoid a nasty surprise when Uncle Sam comes to collect.
Tax Reduction Tips
In the rush to get tax returns prepared and filed by April 15th, many overpay their taxes. Following are a few tax reduction tips that could help you save a bundle.
Save Money on Taxes - Is the Only Way to Get Your Tax Savings is to Sleep With an IRS Agent?
Tilting the Tax Laws in Your Favor.
Tax Trap #5 -- Ignoring The IRS (and the 5 best ways to contact them!)
We all love to criticize the IRS, don't we? And I'm just as guilty as anyone. It's easy to ridicule a huge organization of government bureaucrats who often seem to be Public Enemy #1.
Uncle Sam is Ready...Are You? Organizing Tips for Tax Time
Anyone who is closely related to an accountant knows that there are not four, but five seasons in a year: Spring, Summer, Fall, Winter, and 'Tax Season.' During the other seasons, we accumulate leaves, snow, and mosquito bites. During 'Tax Season' we accumulate paper. And more paper. And if you have a small business or investments--even more paper.
What to Do If You Can?t Pay Your Taxes
The end of tax filing extensions is quickly approaching. What do you do if you can't pay the amounts you owe? You should still file your return by the due date and pay as much as you can. There are, however, additional steps that might help.
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.
Tax Strategy - Let Washington Pay for Your Corvette, Porsche, or Air Plane
Deducting Your Auto Expenses
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