How Income Tax Works

A look at the dreaded income tax, how it works, and to file. This article looks at income taxes mainly from the perspective of the individual taxpayer.

Options For Getting Your Taxes Prepared

This article looks at the options you have for getting your taxes prepared. From the do it yourself method, to hiring the pros, we look at the pros and cons of each.

Taxpayers Should be Aware of New Tax Penalty

Congress has added yet another IRS tax penalty, one that could catch a number of taxpayers off guard.

Setting Up Your Business Entity

By choosing the correct entity structure, one is able to receive income tax benefits as well as liability protection. Before you get started in your business venture, read this article and understand all of the important issues in making your entity selection.

Tips to Reduce Your 2006 Income Taxes in 2007!

Income taxes are a substantial burden for business owners and real estate investors. There are few actions which can reduce your 2006 taxes after December 31, 2006. This article summarizes four options for reducing your 2006 federal income taxes during 2007. These include reducing revenue, increasing real estate depreciation, increasing expenses by conducting a fixed asset audit and increasing expenses by converting capital expenditures into operating expenses.

Tax and Financial Impacts of Divorce

A divorce is always an emotional and volatile situation. Anger, hostility, and mistrust are very common especially in the early stages. It is important to be aware that the Internal Revenue Service is not going to be the least bit interested in these problems, nor are they going to care who is to blame. If there is ever a time to try to work together and set aside the disagreement, it is at tax time. It is very helpful to get some professional tax advice because the rules do change a bit during this time and there are provisions in the tax codes that address divorce.

Google's Great Tax Escape

Less than 10 years old, Google has burst onto the scene like few companies in modern times. Now it is learning to throw around its weight when it comes to tax issues.

Beware the Part Time Tax Preparer

If there is something people enjoy less than preparing their tax returns, it is hard to imagine. If you look to another to do the job, be very careful who you pick.

Your Home Based Business Tax Deductions-Are They Legal?

The Internal Revenue Service determines whether your claimed home based business tax deductions are legal using various criteria...These are some of the questions that must be answered to ensure your home business tax deductions are legal in the sight of the IRS.

Structured Sales For CPAs-Attorneys-And Financial Advisors

While Installment Sales of real property, businesses, and collections are long established and understood by most tax professionals, Structured Sales and the concept of utilizing an assignment company and an annuity to guarantee payment may be new to many professional advisors including CPAs, attorneys, financial planners, and other insurance professionals.

What State Taxes Can Businesses Deduct

If you run a business, you are looking for as many deductions as possible to knock down the tax you have to pay. Following are some highlights of the taxes you can deduct that are collected by anyone other than the federal government.

Losing Weight Can Get You A Bigger Tax Refund

Did you know that losing weight cannot only save your life, but also put more money in your pocket? The IRS classifies certain costs related to weight loss as tax deductible, meaning that dieting can increase the amount of refund (or lower the amount you have to pay.)

Best Resources For Tax Information

If you don't know where to go for tax advice or it's time to change where you get your advice, this article will assist you!

Do You Have To File A Tax Return?

The general assumption is that everyone must file a tax return each year. This is not entirely true. In some situations, an individual or married couple need not file.

How Much Is That Business In The Window-Do You Know The Worth Of Your Business?

Amazingly enough, as I continue to practice the art of public accounting, I find that many small business owners are unaware of their business' value. They have made no plan for retirement, estate planning, or a possible sale. When a business' value is known, it becomes possible to put a plan in place that will cover just about every possible scenario the small business owner will face.