Obtaining a Federal Income Tax Refund

Expert Author: Keith Hoyng | Summary

‘You’re getting an income tax refund’! Those are the words that every taxpayer would love to hear. A federal income tax refund occurs if the tax you owe is less than the sum of the total amount of refundable tax credits claimed and the total amount of withholding paid. For many individual taxpayers those federal tax refunds can be obtained through Earned Income credit, a real refund of overpayment of tax, or through an overpayment from previous years.

Tips For Preparing Your Taxes from the Internet

Expert Author: Cal Golden | Summary

When it comes to preparing our taxes, many of us could use some help. The following websites offer guidance and information that may assist you in learning about how to get the most out of filing your returns.

An Investor's View of The Fair Tax: A Resolution

Expert Author: Steve Selengut | Summary

A Government that bemoans the population's low savings and investment rates has only itself to blame, and Wall Street Institutions are happy to exacerbate the problem with their own financial pandemic of products, strategies, and tax deferral/avoidance schemes. It's time to reinvent this wheel!

Why Income Tax Hurt Income Earners And Workers

Expert Author: Jim Thio | Summary

All wealth redistribution comes in the form of the equivalent of tax and welfare. However, you need to be careful. Incorrect taxation schemes can result in less wealth for you. You see, by reading this website I would suppose that you’re poor or middle class wanting to skyrocket your income, right. Rich means owning a lot of money. If you’re poor and would want to get rich, you need to have a lot of income. So will income tax help? No! Abolish income tax.

How Wealth Tax Is Better Than Income Tax

Expert Author: Jim Thio | Summary

Do you want to move money from the wealthy to the poor? Well, tax wealth.

Wealth tax causes far less market distortion, and hence, much fairer than income tax. Wealth tax hurt productivity less. If you live in a capitalistic country, then your income is yours fairly. However, Bob’s wealth might not be traceable to productivity. Bob might have gotten his wealth through inheritance gained through slavery, or genocide.

Donating Your Car To Charity

Expert Author: Greg Reynolds | Summary

Quick tips on what you need to know if you're considering donating your car to a charity in exchange for a tax deduction. The IRS has implemented strict new rules concerning car donations. You must pay close attention to the new Significant Use and Material Improvements clauses.

Getting a Tax Credit for Your Kids

Expert Author: Richard A. Chapo | Summary

As you know, raising a family is a full time job and can put stress on your finances. Fortunately, you can claim a tax credit to help cut your IRS bill if you have kids.

The Principles On Paying Tax

Expert Author: Teguh Budimulia | Summary

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 the nets in the 3 sides of the forest. Let the animals go wherever they want. Let only those who do not follow Tao end up in your net.’

Using Mortgage Interest as an Itemized Deduction

Expert Author: Keith Hoyng | Summary

What is mortgage interest? It is any interest you pay on a secured loan when you bought your first or second home. The loans include the mortgage to buy your home, a second mortgage, a line of credit or a home equity loan. The loan must be secured debt or it will be considered a personal loan and the interest is not deductible.

Which 1099 Tax Forms Concern You?

Expert Author: Keith Hoyng | Summary

It’s tax time again and you must be sure to receive all the necessary forms. What is a 1099 tax form and who gets one? A Tax Form 1099 is used to report income other than wages, salaries and tips. Here of late, this term is used more and more frequently as many employers are opting to use contract labor versus hiring employees, who can turn out to be quite expensive when you factor in the insurance, payroll taxes, and other possible liability.

Deciding when to File a Tax Return?

Expert Author: Keith Hoyng | Summary

April 15th – ‘The Day of Reckoning’! Every year, millions of Americans get ready to pay taxes to Uncle Sam, or get ready to collect a tax refund from Uncle Sam; when did this become the great day that it is for taxpayers, and when are we actually required to file a income tax return?

What To Do If You Didn’t Get a Form 1099

Expert Author: Richard A. Chapo | Summary

If you earned revenues as an independent contractor in 2005, you should have received a 1099 Form for the work. So, what if you haven’t received one?

What To Do If You Didn’t Get a W-2

Expert Author: Richard A. Chapo | Summary

If you worked in a salaried position during 2005, your employer should issue you a W-2 form for your tax reporting. So, what if you haven’t received one?

Earnings From Abroad and Taxes

Expert Author: Richard A. Chapo | Summary

With the every expanding global economy, many people receive earnings from foreign entities. Unfortunately, the federal government wants you to pay taxes on it.

Get a Jump Start on Your Taxes

Expert Author: Richard A. Chapo | Summary

Preparing and filing your taxes is a less than exciting task. Much like visiting the dentist it something that must simply be done. There are ways to make it a little less painful.

Fraud - Tax Fraud

Expert Author: Michael Russell | Summary

An article on tax fraud.

Tax Deduction – Meal Per Diems

Expert Author: Tim Barrans | Summary

Per Diems deduction can be one of the best flight attendant deductions. This deduction depends on which city you layover in. The IRS states that you can either itemize each city you fly to or you may take a standard rate. If you fly domestic, this standard rate can work to your advantage. We are seeing a nice jump in them minimum about in 2006. Previous the base rate was $31 a day for meals and incidentals; in 2006 the base rate has jumped to $39.

Internet Marketing: Get Your Tax Money Back

Expert Author: Daniel Detlaf | Summary

Tax deductions for business expenses aren’t just for large corporations. As an Internet marketer or online entrepreneur it is important to know what you can and cannot deduct to save money on your taxes.

Tax Changes You Should Know for 2005 Returns

Expert Author: Nomad Rick | Summary

Every year, you have to file tax returns and every year there are changes to the tax code. Here are some key changes for 2005 to keep in mind when you prepare returns.

Capital Assets – Gains and Losses for Taxes

Expert Author: Richard A. Chapo | Summary

Capital is a unique term when it comes to taxes. If it gains value, you pay a tax. If it loses it, you can write at least some of the loss off.