Online Tax Software Made Easy

I enjoy doing my taxes, no really, I do. O.K., I will admit, it was not always that way. But it is now! What changed, Tax Software. You can either go online to one of the sites listed above and start within minutes or you can go to your local office supply or discount store and pick up the software there.

Home Based Business Tax Deduction Topic - Home Office

If you are self-employed and run you business from a space in your home, you may qualify for a home office tax deduction. This article will cover the requirements to qualify for a home office deduction.

President Bush's Proposed Health Care Tax Deduction

Nothing is more complex and difficult for politicians to deal with in this country than health care. Well, President Bush is about to enter the fray with a new proposal.

IRS Free File Program Available to 95 Million Americans

Most Americans hate preparing and filing their taxes. To take the sting off of doing them, the IRS free file program enters its third year.

When Are 1099-MISC Forms Due

The dawning of a new year is also the dawning of the beginning of the tax season. One of the first things you need to deal with are 1099 forms.

What You Should Know About Kiddie Tax

The new kiddie tax change, which was approved by congress, is good only until a child turns 18, as apposed to the old law where it was done away with on the child's 14th birthday. For 2006 and 2007, a child's investment income that exceeds $1,700 is taxed at the parent's rate. To earn $1,700 of income, the invested principal would have to be at least $21,250, assuming an 8 percent annual yield. The first $850.00 of a child's investment earnings will remain tax-free, whereas, the next $850.00 is taxed at the child's rate, which is 10% for interest income and 5% for qualified dividends, and long-term capital gains. The parent's rate can go as high as 35%.

IRS Data Shows the Growth of the Tax Code

For instance, if tax returns with adjusted gross income (AGI) between $200,000 and $5000.00 account for 9.97 percent of personal income, then they would pay 9.97 percent of the taxes. But if tax returns with AGI between $40,000 and $50,000 account for 6.97 percent of income, then they would pay 6.97 percent of the taxes.

Taxes and Selling Your Home

When it comes to selling your home, you want to make a profit. Many homeowners don't fully understand the tax implications of selling a home. It is important to know when profit turns into taxable income.

Find the Right Tax Accountant

When looking for a professional to handle your taxes, you need to make sure that you make the right choice. There are many benefits of having a tax accountant handle your taxes, but you should ask plenty of questions before you place all of your most important information in a stranger's hands.

Dealing with Taxes if You Sell on EBay

In the good old days, the IRS seemed to be unable to deal with the concept of online auction sales. Alas, the good old days are over. If you are an EBay seller, you have to report your earnings.

Using Real Estate Notes and Installment Sales to Legally Lower Taxes

See how Mary and Joe legally deferred taxes in excess of $500,000 from the sale of their primary home.

How to Estimate Your IRS Tax Refund in Advance, for Free!

Wouldn't it be nice to know how much your income tax refund will be. It's like having money in the bank. Well, almost... Now, there's a simple way to estimate your tax refund and it won't cost you a dime. I'm about to show you how you can estimate your Federal IRS income tax refund or return in advance, for free!

Take Advantage of 2007 Tax Provisions

If you are 70 ? or older, you can take advantage of a tax break that allows you to transfer as much as $100,000 from your IRA to a certified charity without being taxed. This transfer will count toward your required minimum distribution

Tax on Imported Ethanol Extended Through 2009

This tax provision was prefixed to expire in October 0f 2007 but will continue in effect until January 2009; thanks to the effort of Senator John Thune (South Dakota) and others. The provision included the continuing of the 54-cent per gallon tax on imported ethanol.

How To Pay Less Tax For Your Home

There are several homeowners' expenses that can be deducted by using Schedule A. The largest is mortgage interest payment unless the loan exceeds $1 million. In addition, IRS guidelines allow interest payments for home equity loans (HEL) or home equity lines of credit (HELOC) to be deducted under certain circumstances.