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Tax Information
More Articles from Tax Information: Gov. Abbott Pushes Compression as Long-Term Strategy to Eliminating Property Taxes NBC 5 Dallas-Fort Worth Greg Abbott says he wants to end property taxes. Here's what he means. Houston Chronicle Congress Examines Nonprofit Hospital Tax Exemption Kiplinger Tax Letter Kiplinger's Personal Finance Maui Is Set To Join Other Counties In Raising Taxes To Pay For Roads And Housing Honolulu Civil Beat Millennials are a growing electoral force, and their thinking on tax is a gamechanger - The Guardian Bears say Arlington Heights 'no longer singular focus' for new stadium after tax issues arise CBS Sports Harrisburg School District considers tax hike to deal with vacant William Penn High School WGAL Susquehanna Valley Pa. States With Low and No Capital Gains Tax Kiplinger's Personal Finance Governor Abbott Vows To Cut Property Taxes At TPPF Fireside Chat Office of the Texas Governor DeKalb County property owners to see taxes increase in 2024 Rough Draft Atlanta Debate over property taxes continues at the Capitol FOX 7 Austin Letter to the editor: Using pot taxes to fix roads isn't the right choice Bozeman Daily Chronicle Diapers, guns and taxes Chronicle Telegram Abbott: Goal is to eliminate property taxes The Center Square Opinion | Democrats want to cut your taxes. A Republican is ... Alabama Political Reporter McCuskey: Reforms to tax sale process paying dividends The Daily Times California Weighs Airbnb, Vrbo Tax for Affordable Housing Kiplinger's Personal Finance Domicile: where you live affects your taxes | The American Legion The American Legion Your Taxes: Israel Tax Authority issued instructions for SAFEs The Jerusalem Post How To Avoid Paying Taxes on 401(k) Withdrawals GOBankingRates The Cottage Restaurant owner charged with tax felonies Lock Haven Express Press Release: Tax Scam Alert – June 1 2023 – Hawaii Department ... David Y. Ige | Newsroom Celebrities dodged L.A.’s ‘mansion tax’ for homelessness ... Los Angeles Times Governor Pillen Signs Historic Tax Cuts Package | Office of ... Governor Pete Ricketts When Countries Cut Taxes for New Ideas, Capital Investments Rise ... The University of Texas at Austin City studying ways reparations awardees could avoid paying taxes Evanston RoundTable City of Topeka considers providing some residents property tax relief The Topeka Capital-Journal Jones occupational tax bill dies again in Legislature Gadsden Times More countries abolish tampon taxes, but some fear losing revenue The Christian Science Monitor Property Tax Extension Limitation Law in Madison County likely a no ... The Edwardsville Intelligencer Gaffney would raise taxes, give police raises in $19.2 million budget ... Charleston Post Courier Whitefish Property Taxes Expected to Increase Compared to ... Flathead Beacon 94% of California cannabis excise taxes paid as sales, revenue dip Marijuana Business Daily Innovate Alabama launches tax credit program Alabama Political Reporter Stafford residents: First half 2023 taxes due Monday, June 5 PotomacLocal.com Governor Ron DeSantis Highlights Largest Tax Relief Plan in ... Governor Ron DeSantis Property value increases driving up property taxes for thousands of Douglas County homeowners KETV Omaha Settling Your Tax Debt With an Offer in Compromise Kiplinger Tax ... Kiplinger's Personal Finance TAS Tax Tip: Use Caution When Using Tax Advice or Tax Return ... National Taxpayer Advocate Overland Park residents say roads are bad. City will fix them — if it can raise taxes Kansas City Star What's in Minnesota's 2023 tax bill Minnesota Reformer Milwaukee council, county board divided on local sales tax proposal Milwaukee Journal Sentinel Exclusive: Hays County Tax employee arrested and accused of selling license plates, registrations KXAN.com Arkansas’ tax revenue surplus estimated to be $1.03 billion talkbusiness.net Americans' Views of Federal Income Taxes Worsen Gallup Poll St. Louis County considering property tax increase to cover new ... St. Louis Post-Dispatch Tax the wealthiest to avoid IMF, says Tunisia’s president Al Jazeera English Volunteer firefighters, emergency service workers get a county tax ... Lockport Union-Sun & Journal North Carolina Man Sentenced to Prison for Tax Evasion Department of Justice Opinion | Big Pharma Is Avoiding Taxes, and Trump’s Tax Reforms ... The New York Times Sales tax revenue continues to climb as Steamboat's new STR tax ... Steamboat Pilot & Today Carbon taxes and inflation Nature.com Why China Doesn't Have a Property Tax The New York Times DOR Unveils Surplus Tax Refund Eligibility Status Tool Georgia Department of Revenue Six ways the rich save big on estate taxes, from putting houses in trusts to guaranteeing inheritance for future generations Yahoo Finance New Property Tax Exemption and Credit | Scott County, Iowa Scott County, Iowa | The Most Expensive States to Die In (Due to Death Taxes) Kiplinger's Personal Finance IRS opened Matt Taibbi tax probe on Christmas Eve following 'Twitter Files' document dump New York Post State of Colorado adds property tax relief options, provides tax deferment for all homeowners CBS Colardo Six ways America's rich save big on estate taxes Business Insider California Middle Class Tax Refund: As issues persist, options narrow for getting a real person to help KCRA Sacramento Pay Taxes Dare County (.gov) More Time to File State Taxes for Californians Impacted by ... Office of Governor Gavin Newsom Sign up for OOPA to get current with your property taxes ... Philadelphia Water Department Emergency tax relief | FTB.ca.gov Franchise Tax Board |
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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: · 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. 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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. 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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
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