Raising Taxes Hurts Individuals and the Consumer

It is a known fact that high taxes in any nation hurt the individual and this is because the government is inefficient compared to businesses in the things that they do and when they tax us, the money they spend is not well spent. If on the other hand taxes are low and the individuals and consumers have more money to spend they are much better with their money and much more efficient.

Low-Tax States Have Stronger Economies

A new study of state tax burdens ound that low-tax states outperform the higher tax states in employment, personal income and population.

Start a Home Business for Tax Purposes

If you use a part of your home for business, you may qualify to deduct costs related to your home office, including rent, heat, electric, telephone, insurance, utilities, maintenance, repairs and so-on.

Retention of Tax Records - Keep or Toss

The importance of safely retaining financial records. If you have ever applied for a loan or been through a tax examination, you also know the need to have adequate records. But what are adequate records and how long do you need to keep them?

Minimizing Income Tax Liability Includes Cost Segregation!

Minimizing income tax liability and receiving a significant cash flow is now available for owners of commercial property. If the property has been purchased, built or renovated since 1986 and the owner is a taxpayer, the owner is entitled to take advantage of a program that the Big 4 Accounting firms have been offering their clients the past few years. Most property owners qualify for this program. The only caveat is that if the owner plans on selling the property within the next 5 years, this program may not be as attractive.

Why You Would Want To Apply For A Mobile Home Tax Deduction?

Just because your home is on wheels doesn't mean you can't take advantage of tax deductions such as the mobile home tax deduction. In fact as long as you pay taxes to the local government of the area in which you have parked your home you can qualify easily for the tax reduction. Find out more...

IRA Tax Deduction - Any Benefits?

Having an Individual Retirement Arrangement can not only help you in the long run, but also with an IRA tax deduction; it can help you in the short term as well. Basically an Individual Retirement Arrangement or an IRA is a personal savings plan that helps you put away for the future. Find out more...

IRS Sets Telephone Tax Refund Amounts

In a recent decision, a federal court overturned a telephone tax that has been charged for years. Given the result, the IRS has decided to issue refunds for past collected taxes.

Child Care Tax Deduction - This Is How You Can Qualify

The introduction of a child care tax deduction is an incredibly pleasing idea to most parents' ears. The expense of raising a child can cost a lot. Find out more...

What Is A Standard Tax Deduction?

One thing you can always count on is the standard tax deduction. This deduction is one almost everyone can take advantage of it is an amount that is taxable as a flat amount. Find out more...

Why Would You Want To Use Tax Deduction Software?

With all the options in tax deduction software it is hard to distinguish which ones are offering the best deals. A lot software is web-based, but there are still a few that can be loaded onto your personal computer. Find out more...

Farmland Assessment Program in New Jersey - The Story Of One Farm

This is a story about one farm in New Jersey and how developmental pressure caused property taxes to increase to the point where the farm had to be sold. It is also the story of how legislators in Trenton, with the swift adoption of the farmland assessment program, responded to the angry overtaxed farmers who buttonholed them. It also examines the provisions of the current three year rollback tax provisions contained in the farmland assessment program and how the value of that rollback tax has been eroded over time.

Hurricane-affected Businesses Receive IRS Filing Extension

The IRS has announced the availability of an additional postponement of filing and payment requirements to businesses in the Gulf Coast. The filing extension comes as part of the continuing effort to assist victims of Hurricane Katrina.

Donate Car For Tax Deduction - The Rules

You want to donate your car and take advantage of the car to donate for tax deduction, but it seems really confusing trying to figure out this deduction. Don't worry you aren't alone. Find out more...

Watch for Phony Tax Collectors, Warns IRS

The IRS issued a warning on Wednesday against scammers who pose as private debt collectors looking for unpaid tax debts.