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Tax Information
More Articles from Tax Information: Unpaid state taxes soar, and Nebraska auditor questions why Nebraska Examiner A Plan for Private Jet Taxes Would Fund Climate Measures The New York Times Harger: Seattleâs new mayor eyes progressive taxes, but will middle-class homeowners pay the price? MyNorthwest.com GOPâs Shortsleeve blasts proposed auto excise tax hike Boston Herald Property tax debate gets heated Florida Today CMS Issues New Guidance on H.R. 1âs Restrictions on State Use of Provider Taxes to Finance Medicaid Georgetown University Who Really Pays for European Welfare States? Tax Foundation Nebraska is owed $310 million in unpaid 2025 state taxes Nebraska Public Media Louisianaâs model to use sports betting revenue on college sports Invest in Louisiana 9.8% Average Yearly Increase in Northfield Taxes since 2016 â City Taxes Explained Part 2 KYMN Radio ¡ Northfield, MN New County Treasurer-Tax Collector Takes Oath of Office San Diego County News Center Breaking the Bank: Eliminating the State Income Tax Harms Most Georgians and Increases the Cost of Living Georgia Budget and Policy Institute New data center in Lewis Center could join district allowing income tax collection The Columbus Dispatch Owner of Cherry Hill mall restaurant failed to pay $271K in taxes, New Jersey attorney general says CBS News CMS issues preliminary guidance on provider tax provisions under OBBBA American Hospital Association Illinois police pensions lock up local property taxes Illinois Policy What OBBBA Means for the OECD Global Minimum Tax Cato Institute Normal moves forward on plan to raise property taxes next year WEEK | 25 News Now Analysis: Property tax changes to put more pressure on businesses, owners of low-value homes Indiana Capital Chronicle Property taxes rose slightly in 2025, but big shuffle could be in store Evanston RoundTable Hochul juggles taxes, potential universal child care phase in and shifting fiscal ground Spectrum News IRS phaseout of paper refund checks: What tax pros should know Thomson Reuters tax 91-year-old Pennsylvania woman loses home in tax lien fight ABC7 Los Angeles IRS Keeps Tax Interest Rates the Same for Q1 of 2026 CPA Practice Advisor Finance Committee votes down Mayor Brandon Johnson's 2026 tax plan, putting budget in limbo CBS News How agentic AI accelerates legislative analysis for tax professionals Thomson Reuters tax Cleveland Clinicâs sale of 24 properties will bring tax revenue to local communities Cleveland.com 91-year-old Delaware County woman loses home in tax lien fight | Investigation update 6abc Philadelphia LaFrance pushes 3% sales tax to cut property taxes and fund housing as âfiscal cliffâ looms Anchorage Daily News How could Des Moines reshape its tax abatement program to spur development? The Des Moines Register GOP lawmaker suggests sales tax for local services if Ohio property taxes abolished The Statehouse News Bureau Chicago City Council to meet after Finance Committee rejects Mayor Brandon Johnson's tax plan CBS News This Midwestern State Faces a $1 Billion Property-Tax Levy Rise. Hereâs How Some Homeowners May Get a Pass Realtor.com Loop loss fallout: Chicago homeowners hit with biggest property tax bill hikes in decades Crain's Chicago Business Property taxes are rising across local governments in Minnesota, to the tune of nearly $1B in 2026 kare11.com Abbottâs push to end school property taxes needs detention, not attention San Antonio Express-News North Lawndale residents âLight the Way to Fairnessâ in property tax bonfire protest Austin Weekly News Edmond sales tax election to renew established revenue streams sees no apparent opposition The Oklahoman OSAMâs Chris Loveless: Advisor demand surges as tax-managed personalization becomes a market-must InvestmentNews American Opinion: Terminate the tariffs: Trumpâs unlawful taxes must lose West Central Tribune California awards $100M in tax credits to 9 companies Manufacturing Dive Tacoma homeowners worried over property taxes after approved levy increase KIRO 7 News Seattle Half a dozen more property tax bills head to Joint Revenue Committee Buffalo Bulletin Legislative leaders to look at âtweaksâ to property taxes, Medicaid in 2026 legislative session dailyjournal.net Evergreen Wealth Strengthens Tax-Optimization Platform with Daffy Partnership, Bringing Donor-Advised Funds to Clients Yahoo Finance Report: Nonprofit hospitalsâ value to communities more than 11 times federal tax exemption American Hospital Association Montana delegation opposes renewal of health insurance tax credits Montana Public Radio New Plaza owners apply to Port KC for loan, tax abatements to assist in redevelopment KSHB 41 Kansas City California is a high-tax state. Are more taxes a balm for its budget deficits? | Dan Walters Santa Ynez Valley News âPigs at the trough:â How greedy local governments sparked Ohioâs property tax revolt Cleveland.com Normal moves forward on plan to raise property taxes next year WEEK | 25 News Now Polk County voters to decide on school tax referendum next year FOX 13 Tampa Bay Nebraska state auditor seeks to recoup millions in delinquent taxes KOLN | Nebraska Local News, Weather, Sports | Lincoln, NE How Clevelandâs 1970s tax decision helped create âthe worst tax system in the entire countryâ Cleveland.com Black neighborhoods hit hardest with Cook County property tax bill increase, analysis finds Chicago Sun-Times UK eyes electric vehicle tax to fill revenue gap Courthouse News |
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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. 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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. 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