Rental property tax deductions

Join Our Newsletter, Get The Best General Knowledge Tips and Tricks In Your Email Box!

Own residential rental properties?. This article discusses how income from those properties impacts your taxes.

What Constitutes Revenue?.Generally, rental income is defined as any revenue you receive from the occupancy or use of residential property. Rent, obviously, is included in that revenue. Many owners are surprised to learn revenue also includes … Read The Full Post

Categories: Business And Investing Tips And Tricks | General Knowledge Tips And Tricks | Taxes Tips And Tricks |

Tax jokes and quotes

Join Our Newsletter, Get The Best General Knowledge Tips and Tricks In Your Email Box!

Do you realize that some tax forms ask you to check a box if you are BLIND?.Quote: “Two years ago it was impossible to get through on the phone to the IRS. Now it’s just hard to get through. That’s progress.” -Charles Rossotti, former IRS Commissioner. Disappointed that you never had … Read The Full Post

Categories: Business And Investing Tips And Tricks | General Knowledge Tips And Tricks | Taxes Tips And Tricks |

Tax return forms

Join Our Newsletter, Get The Best General Knowledge Tips and Tricks In Your Email Box!

According to federal laws governing taxation, any person, receiving an income in one form or the other, need to pay income taxes to the government annually. But, the job of preparing tax returns, the calculations and the many tax forms involved, constitute one of the harrowing experiences being an honest tax … Read The Full Post

Categories: Business And Investing Tips And Tricks | General Knowledge Tips And Tricks | Taxes Tips And Tricks |

Tax season time for scams

Join Our Newsletter, Get The Best General Knowledge Tips and Tricks In Your Email Box!

As tax season draws irresistibly closer, the scam artists are polishing their latest techniques. This article should help you keep an eye out for these nasty individuals.

Tax Season – Time for Scams. In a particularly cheeky move, scam artists have started posing in on form or another as the IRS … Read The Full Post

Categories: Business And Investing Tips And Tricks | General Knowledge Tips And Tricks | Taxes Tips And Tricks |

The principles on paying tax

Join Our Newsletter, Get The Best General Knowledge Tips and Tricks In Your Email Box!

Why Tax Loop Holes Must Exist. A long long time a go, in a country far far away, in China to be exact, there was a hunter that put nets in 4 sides of the forest. The hunter wanted to catch all animals. Then a king passed by. He said, “Remove … Read The Full Post

Categories: Business And Investing Tips And Tricks | General Knowledge Tips And Tricks | Taxes Tips And Tricks |

Your auction business taxes

Join Our Newsletter, Get The Best General Knowledge Tips and Tricks In Your Email Box!

Taxes is an issue when running an Auction Business. But is there a grey line when it comes to declaring it?.It’s really within reason if you’re going to do a huge amount of it, a small amount is negligible.

Some people want to have a small business for write-offs, you might … Read The Full Post

Categories: Business And Investing Tips And Tricks | General Knowledge Tips And Tricks | Taxes Tips And Tricks |

Getting a tax credit for doing the right thing

Join Our Newsletter, Get The Best General Knowledge Tips and Tricks In Your Email Box!

Making energy-efficient home improvements and purchasing fuel-efficient hybrid electric vehicles is no longer just an environmentally friendly move -making these purchases could save you money at tax time.

That’s because the Energy Policy Act of 2005 will offer consumers federal tax credits for making energy-efficient purchases.

Using energy-efficient appliances and installing … Read The Full Post

Categories: Business And Investing Tips And Tricks | General Knowledge Tips And Tricks | Taxes Tips And Tricks |

Reforming how businesses are taxed

Join Our Newsletter, Get The Best General Knowledge Tips and Tricks In Your Email Box!

Tax reform is a lot like the weather-everyone talks about it but no one seems to do anything about it. Incoming Treasury Secretary Henry Paulson could change that by focusing on the need for corporate tax reform.

Congress should not ignore the tax rules governing individuals, but modernizing America’s business tax … Read The Full Post

Categories: Business And Investing Tips And Tricks | General Knowledge Tips And Tricks | Taxes Tips And Tricks |

When do you file a tax return

Join Our Newsletter, Get The Best General Knowledge Tips and Tricks In Your Email Box!

The first known income tax that Americans were legally required to pay was enacted during the 1860s, and the Presidency of Abraham Lincoln. The Civil War was proving very costly to fund, and the President and Congress created the Commissioner of Revenue and enacted a law requiring citizens to pay income … Read The Full Post

Categories: Business And Investing Tips And Tricks | General Knowledge Tips And Tricks | Taxes Tips And Tricks |

The legalities and issues with an irs levy

Join Our Newsletter, Get The Best General Knowledge Tips and Tricks In Your Email Box!

An IRS levy is an order from the Internal Revenue Security directing TVA to withhold a specified amount of an employee’s pay to satisfy a tax debt. If the IRS determines that we owe back tax then it may issue an IRS levy requiring the deductions from the pay till the … Read The Full Post

Categories: Business And Investing Tips And Tricks | General Knowledge Tips And Tricks | Taxes Tips And Tricks |