| Tax Information |
|
|
Tax Information
More Articles from Tax Information: What the Kennedy Center’s Tax Return Reveals The Atlantic Why WA unions are pouring millions into keeping new income tax The Seattle Times Newsom signs California’s first standalone post-production tax credit Los Angeles Times CA Gov. Gavin Newsom Signs Bill Addressing Catch in $750M Tax Credit for Hollywood The Hollywood Reporter Governor Newsom expands film and TV tax credits with new legislation, creates tax credit to support post-production jobs California State Portal | CA.gov Hinson, Sen. John Barrasso of Wyoming highlight GOP tips, overtime tax cuts Iowa Capital Dispatch Harris County commissioners approve historic $3.1 billion budget, finalize tax hike houstonpublicmedia.org Florida House race focused on tariffs, taxes, education Kingsport Times News Billions in Taxes Go Unpaid. Under Trump, the I.R.S. Won’t Say How Much. The New York Times GOP Ad Attacks Ossoff’s Vote Against Trump Tax Cuts factcheck.org Democrats challenge Gov. Abbott's TV ad on property tax cuts Texas Public Radio | TPR Iowa advocates call for attention on proposed income tax constitutional amendment Iowa Capital Dispatch Hanni disputes taxes sought by county auditor - The Vindicator WisGOP: David Crowley's hometown paper concludes taxes have "generally increased" on his watch WisPolitics Bellosguardo Foundation Sues Santa Barbara County over Property Taxes The Santa Barbara Independent Poll: California voters support billionaire wealth tax — and its countermeasures The Mendocino Voice Arts Education Tax changes: What Portlanders need to know for tax year 2026 - due April 15, 2027 City of Portland, Oregon (.gov) How much could you save in taxes from Florida's Amendment 3? Here's how you can find out. - CBS News New York City Pied-à-Terre Tax Raises Many Questions New York State Bar Association Tax Credits, Incentives, and Technical Assistance for Geothermal Heat Pumps Department of Energy (.gov) Real Estate Brokers in the U.S.: Licenses, Income, Taxes, Courses and How to Start a Brokerage in 2026 finchannel.com IRS Direct Pay offers easy way to pay taxes Cape Gazette California entrepreneur warns billionaire wealth tax could trigger 'giant sucking sound' of business exits Fox Business Wyoming's silent tax heist: Vote 'Yes' on Proposition 1 WyomingNews.com San Antonio leaders cap 'tumultuous' budget season with first property tax hike in decades kens5.com Gov. Gavin Newsom Signs CA Postproduction Tax Credit Into Law The Hollywood Reporter The Tax Rich Business Owners Skip That W-2 Workers Can’t: How S Corp Profits Escape the Medicare Surtax Yahoo Finance Big Tech Is Raking in Enormous Tax Breaks for AI Development Institute on Taxation and Economic Policy Should the state of Ohio ban property tax incentives for data centers? Ohio Capital Journal Report from NJBIA/State Chamber Taxation & Economic Policy Committee Meeting New Jersey Business & Industry Association No, no, no on awful Amendment 3 | Endorsement Sun Sentinel Pappas Helps Introduce New Legislation to Stop Tax Giveaways for Data Centers Congressman Chris Pappas | (.gov) Some Houston-area local governments bringing in more property tax revenue despite not raising taxes ABC13 Houston The Daily Roundup: Kalispell Chamber Candidate Forum Centers on Property, Income Taxes Ahead of 2027 Legislature Flathead Beacon 3 Harris County commissioners defend largest property tax increase in county history and blame Trump, Abbott Click2Houston Harris County approves largest property tax hike in county history. Here’s what homeowners could pay Click2Houston September Board Meeting Highlights: Legislative Priorities, Tax-Rate Adoption, District Improvement Plan Richardson ISD How will tax ballot issues affect you? | Vince Bzdek Colorado Springs Gazette ‘Billionaires shouldn’t exist.’ Why California unions are fighting for a wealth tax Times of San Diego Data center developers must now agree to terms to obtain Nevada tax breaks Las Vegas Review-Journal You're Paying More in Tourist Taxes Than Ever, and Most Travelers Don't Know Where That Money Goes Yahoo Creators Vote ‘no’ on proposed Lancaster County library tax [letter] lancasteronline.com Opinion | Raising the payroll tax would not fix Social Security The Washington Post New Hampshire’s first statewide chance to cap property tax growth comes in November THE JOSIAH BARTLETT CENTER FOR PUBLIC POLICY D10 Councilmember Votes Against San Antonio Property Tax Increase City of San Antonio (.gov) Want people to believe in democracy? Tax a billionaire The Washington Post Reps. Davis, McDonald Rivet Lead New Push to Stop Tax Giveaways for Data Centers Representative Davis | (.gov) Brenham City Council approves $131.9 million budget, sets property tax rate | Home | southtexasnews.com SouthTexasNews.com EAST TEXAS POLITICS: Smith County judge and commissioner discuss new budget, tax rate increase KLTV.com Tom Tiffany talks taxes in Altoona news8000.com Newsom Signs Bills Expanding California Film and TV Tax Credits news.bloombergtax.com A not-so-flat tax | Tucker Colvin billingsgazette.com |
RELATED ARTICLES
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: � Has sufficient years preparing home-based business tax returns � Prepares less than the average number of returns between January and April so that your return gets sufficient time and attention. � Have had clients get a second opinion. In addition, talk to those clients to get there first hand insight. � Is willing to pay for a second review of your tax returns to ensure accuracy. � 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 |
| home | site map |
| © 2005 |