By: Steve Selengut Tax Planning Views: 2974 | Comments: 0 | Votes: 0
Can lawmakers who don't have the courage or intelligence to outlaw texting while driving really be expected to create a saner tax structure? Hmmm. Politicians focus on one issue at a time, and pretend to have problems dealing with inter-related programs. Tenured politicians have a vested interest in resisting any change that involves their spheres of influence. More
By: Zubin JB Tax Planning Views: 2941 | Comments: 0 | Votes: 0
Is it just me or have the recent appointees to President Obama's cabinet been playing hooky with their taxes? First, it was Tim Geithner, a mastermind at the Treasury, who is going to be the savior of the economy. Actually, it's not. Let's all give the President one word of advice: Simplify, simplify, simplify. (they say if you repeat something three times, it works!). More
By: Kerry Freeman EA Tax Planning Views: 2873 | Comments: 0 | Votes: 0
Act Now to Make 2008 Less Taxing What you don't do by the end of this year could end up costing you plenty next year. A combination of market forces and the phasing out of certain tax benefits makes it extra-important to grab every tax advantage you can right now. How can that be? The net effect is that fund shareholders get hit with a taxable distribution. That's a big savings. Mr. More
By: Academix Tax Planning Views: 2630 | Comments: 0 | Votes: 0
Telephone tax refund – This is a one-time refund and many taxpayers are not aware of its existence. Married couples, with no children, can receive a $40 refund. Those with one child can claim $50 & those with two, $60. If you kept your phone bills for the last three years and the telephone excise tax on your invoices exceeds these credits, you can apply the actual amount. More
By: Nancy Zimmerman Tax Planning Views: 2534 | Comments: 0 | Votes: 0
There’s no easy way to say this: your taxes have to get done, and you are the one mostly responsible. Squeeze your eyes tight shut, open them and guess what. They’re still there. The only way I can stomach the process is to do bits at a time over the month of April. So, here is simple survival guide to get through the ordeal. More
By: Lew Sichelman Tax Planning Views: 2506 | Comments: 0 | Votes: 0
Taxpayers are due a onetime federal excise tax refund credit of $30 to $60 – or possibly even more – on their 2006 federal returns, according to the Internal Revenue Service. The refund is intended to compensate people who have been charged an excise tax on their phone bills. But when they went to flat-fee phone services, they continued to levy the tax. United Feature Syndicate More
By: Thomas Norton, CPA Tax Planning Views: 2422 | Comments: 0 | Votes: 0
Most small business owners have heard that they're supposed to get special tax breaks. The problem is, they don't know what they are or how to go about claiming them. Not surprisingly, the IRS doesn't go out of its way to spell it out for you when you go to file your income taxes! There is a general rule in tax law that says all "ordinary and necessary" business expenses are deductible. More
By: Kyana Martin Tax Planning Views: 2335 | Comments: 0 | Votes: 0
It is estimated that low income families spent nearly $1 billion last year for refund anticipation loans. As tax season approaches, I wanted to warn you “saving savvy” taxpayers that no matter how strapped for cash you may be, it doesn’t pay to borrow your own money. These are avoidable tax-time expenses. RALs are high cost bank loans secured by the taxpayer’s expected refund. More
By: Peter Suhai Tax Planning Views: 2096 | Comments: 0 | Votes: 0
It is available to anyone who paid such taxes on landline, wireless, or Voice over Internet Protocol (VoIP) service.Why is the government refunding these taxes?Several recent federal court decisions have held that the tax does not apply to long-distance service as it is billed today. 28, 2003 and before Aug. 1, 2006. 28, 2003 and before Aug. It is also the easiest way to get a refund. More
By: 1888pressrelease.com Tax Planning Views: 2052 | Comments: 0 | Votes: 0
REDLANDS, Calif. - As corporations prepare for this year’s tax filings, there’s no better time to make strategic plans about how to maximize corporate deducations for 2020. “We are grateful for the continued support of corporations that donate to Disabled Veterans Charities year after year and hope more corporations throughout the U.S. More
