Congressional Democrats and Republicans Talk Taxes

The Democrats are pointing at the Republicans, and they are pointing back. Both sides of Congress took their turns portraying the other party of wanting to boost taxes for middle class American taxpayers.

As a Bookseller Don't Risk Being Accused of Cheating on Your Taxes

Since the inception of the various online marketplaces for booksellers there has been a lot of abuse with respect to the reporting of both federal and state tax obligations; don't be fooled, the authorities do have ways of finding you out.

Tax Tips for the One Man (Woman) Business

Running a one-person business? Tired of the huge hit you take at tax time? Want to save money on your accounting and taxes? Consider these simple tips and tricks...

Cut Your Taxes And Receive a Larger Refund - Start A Home Based Business

Did you know that nearly 50% of an employee’s income is paid to the government? Employees basically work to pay the government from January to mid May in the form of taxes. There is a legitimate way to cut your taxes and receive a refund check.

How Are Bonds Taxed Upon Death - A Sequel

Question: Thank you so much for your response. It was over and above what I needed to know, which is great. The more informed we are on this the better! I do have one additional question. If we cash out the bonds with the estate, the interest will be around $300,000.00. If we cash them out individually (split 3 ways), won't the taxes be lower as they will be under $150,000.00 (including our other income) for each of us and in a much lower tax bracket? I am not clear on the advantages of cashing them out in the estate. Please explain this further. Thank you, R.

Congress May Crack Down on Homeowner Property Tax Write-Offs

If you've been writing off your property taxes on your federal income tax form every year, you may need to be more careful with your figures if the recommendations of a report are accepted and adopted into legislation by Congress. A congressional committee recently suggested that many homeowners have been deducting more property tax than they should from their taxes, which, according to the report, has been costing the government hundreds of millions of dollars every year.

IRS Releases Mileage Rates for 2007

One of the advantages of working for yourself is you can write off a lot of different expenses to lower your taxable earnings. One deduction that is very popular is business mileage. Any mileage you undertake for business purposes can be converted into a very healthy tax deduction.

Tax Preparation and Filing Online

Using the internet to file your taxes online is a convenient way to complete your tax return. If you are thinking about preparing your taxes online this year, then don't worry because it's easier than ever. Here is a quick guide to help you get your tax preparation and tax filing online done fast and easy.

10 Do's and Do Not's for Filing and Lowering Your Taxes

Small Business owners can 179 themselves into lower taxes and individuals can reduce the threat of an audit by following a few simple steps.

The Proposed Income Trust Taxation -- Impact to Canada and Investors Around the World

Summary of the recent proposed income trust taxation in Canada and whether the latest development presents risks or opportunities to investors around the world.

Take Expenses Now To Limit Your 2006 Business Taxes

As we roll towards the end of 2006, you are probably thinking about the holidays and gifts you need to buy. Well, it is also time to give yourself a tax gift.

Tax Deduction Options You May Have Missed

As a business person or everyday taxpayer you may think that you have taken every conceivable tax deduction available to you. However, if you paid closer attention to recent amendments to the tax code you may have uncovered some additional special deductions for the most recent tax year.

Professional Tax Preparation Software Online

Are you looking for a good way to prepare and file your taxes this year? Would you like to do your taxes from your computer, without ever having to leave your desk? Would you like to be able to research things like tax deductions, tax credits, tax law changes, and the like?

Alternative Minimum Tax May Be Sneaking Up On You!

Are you aware that the IRS is waiting to snare you and grab more of your money? As a middle income tax payer, I was not aware that the government is just waiting for me to increase my annual income so they can skim more off the top. The alternative minimum tax was originally designed to affect the wealthy, who have often not paid their fair share of taxes because of allowed deductions and other ways of avoiding their tax obligation. But it is now starting to affect more and more middle income Americans.