Debt settlement income taxes what you need to know

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Debt settlement has become a popular approach to resolving problem debts without having to file bankruptcy. With this approach, creditors agree to accept a portion of what you owe (usually around 50% or less) to settle the account, and the remaining balance is forgiven. This technique will certainly continue to grow … Read The Full Post

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Vital online tax resources for small businesses

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© 2006Simple questions are often the most difficult to answer. Or so it seems when dealing with … Read The Full Post

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What to do if you can t pay your taxes

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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.

Credit Cards. You can charge … Read The Full Post

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Captial gains tax explained

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Capital Gains tax is a federal tax penalty that is imposed on capital accumulation, investment and productivity. Some of the income that is subject to capital gains tax includes the sale of an investment, a home, a family business, a farm or ranch or even a work of art. The capital … Read The Full Post

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Depreciate property improvements correctly with cost segregation

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Most commercial building owners are grossly overpaying federal income taxes because they are not depreciating their property as quickly as they should. A cost segregation study allows property owners to both defer and reduce federal income taxes. When properly performed by an appraiser with expertise in cost segregation, this is a … Read The Full Post

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Car donation and how to locate your local depot

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The history of car donation stretches back a long way, if you are aware where to search you can easily find info on topics such as places to donate used cars, car donation charities in michigan and also purchasing donated vehicles, a multitude of people will probably need specific tax rules … Read The Full Post

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Home business tax deductions

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Dreading April?.If you are running a home business, it is important to remember that there are tax deductions for you when tax season rolls around. Of course, you do not want to try to fool the IRS (no one wants to run the risk of being audited!), but you do want … Read The Full Post

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Industry tax issue resolution program

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For roughly the last ten years, the internal revenue service has made a fairly major effort to be more taxpayer friendly. The Industry Tax Issue Resolution Program is one such step.

Industry Issue Resolution Program. After years of living in denial, the IRS has come around to admitting tax forms and … Read The Full Post

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Income tax returns your accountant should not file

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You’ve been feeling uneasy (perhaps even guilty) because you’ve failed to report your under the table business income. Perhaps you’ve never filed a tax return, even though you know you owe money. Finally, you contact an accountant to resolve the situation.

Although it is commendable that you are trying to correct … Read The Full Post

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Dear john letters from the irs

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Undoubtedly, you are aware of Dear John letters. Often a young lady sent them to men in the military, often containing bad news. Well, the IRS sends them to taxpayers as well.

Dear John Letters From The IRSThe Internal Revenue Service sends out millions of Dear John letters to taxpayers every … Read The Full Post

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