Your Business and Your Estate - Succession Planning

Things don't always turn out fairly when the business owner leaves the family business to the next generation.

10 Ways To Reduce Tax Burden For Your Small Business

An ideal lawyer will not just have a string of impressive credentials or gold lettering on his door. He or she will be caring, concerned, and devoted to their work. You need to think carefully before laying your trust in a lawyer after all in some cases your life, future, money or property will be in his hands.

7 Ways To Organize Yourself For Taxes

Don't let your accountant organize your receipts for taxes. You and only you are responsible to the IRS if your receipts are not categorized correctly. Take your time, lay out your reciepts, and place them in the category you think they belong in. Attach each category to a sheet, list the category at the top of the sheet, list each item on each sheet and why it is deductible.

Debt and Denial - During the Tax Season

As 120 million households prepare their taxes this year Bill Mitchell asks the $64,000 question. “With the tax season deadline approaching, what election will you use to file your 2005 tax return? Married filing jointly or married with money grubbing cheating Spouse?”

Giving Your Car to Charity - The New Tax Rules

The IRS has changed the regulations on donating vehicles to charities. If you donated a car last year, you need to read the following to understand the new rules.

IRS Won't Forgive Taxes Owed by eBay, Amazon 'Hobby' Sellers

Many part-time online sellers believe they aren't liable for paying federal income tax. But even if you have a full-time job where income is withheld for taxes, Uncle Sam still wants his cut from your part-time selling profits.

How To Find A Good Tax Accountant

A tax accountant has been trained as an accountant and is able to inspect, prepare, and maintain financial records for a business or individual. However a tax accountants main focus is on preparing and maintaining tax information.

What You Need To Know About Tax Write-offs For Casualty Losses

Life is full of ups and downs, and there is no way of predicting when you will suddenly find yourself in a bad situation. However, there is at least one up side to disaster; most can be counted as casualty losses or deductions on your taxes. While you won’t get all the money back you lost, for major losses, it is worth claiming the deduction.

Minimizing the Income Tax on the Receipt of Lump-Sum Social Security Benefits

Taxpayers who receive Social Security benefits in one lump sum might have to pay taxes on up to 85 percent of those benefits. This article explains to how minimize the income tax burden from the receipt of lump-sum Social Security benefits by making the proper election under Section 86(e) of the Internal Revenue Code.

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

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!

Save Taxes Using the Section 179 Deduction

The Section 179 deduction is one of the best deductions in all of the Internal Revenue Code. A business may deduct up to $108,000 of business equipment, furniture, machinery, and off-the-shelf computer software that the business purchases and places in service in 2006. Some limitations and special rules apply. The Section 179 deduction also saves self-employment tax for self-employed individuals.

Tax Season – Time for Scams

As tax season draws irresistibly closer, the scam artists are polishing their latest techniques. This article should help you keep an eye out for these nasty individuals.

The Advantages of Accountable Plans for Employee Business Expenses

What is the best way to handle business expenses incurred by employees? Should a business simply provide a fixed amount to each employee to spend according to the discretion of the employee with no requirement to substantiate the expense? This article shows the tax advantages of an accountable plan over a simple expense allowance.

Getting a Tax Credit for Your Kids

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.

Get a Jump Start on Your Taxes

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.