The Essentials of Tax Records

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It is very necessary to keep proper tax records. Tax records include all the tax returns and the essential documents regarding the returns which can be in the form of receipts, forms or bank statements. It also includes the proof out of which you can make a claim on your taxes. For instance, if you

Creating and Managing an Educational Savings Account

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When it comes to your child's education, you should be thinking about putting together the money they will need for college at birth. College tuition is only going to go up over the next seventeen to eighteen years, and you want to have a plan in place to pay for your child's education.

How to Calculate Your Weekly Payroll Deductions

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Calculating the various deductions from your paycheck can seem a bit daunting at first glance, but it's really not that complex. However, there will be significant variations in your payroll deductions depending on where you live. If you live in New York City, for example, there will be both state

Should I File an Extension for My Business Tax Return?

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Benefits and drawbacks to filing a business tax return extension

Tax Deductions for Commissioned Employees

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Working as a commissioned employee can provide you with the opportunity to earn unlimited income and potentially work on a flexible schedule. When you work in this capacity, filing your taxes becomes a little more complex than when you work for a regular salary. You can take some extra deductions on

What Is a Notice of Levy on a Bank Account?

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A levy is a general term for a legal claim, especially a claim against a particular asset. It is a term commonly used for a variety of debts, especially those concerning property and vital obligations to the government. In some cases, the levy may only affect a tangible asset such as a house. But in

How to Pay In-State Tuition in Universities in Texas

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Students applying to a state university in Texas are classified as either resident, nonresident or foreign. In order to pay in-state tuition at Texas universities, students must qualify as a Texas resident. Qualifying as a Texas resident can make a big difference in the amount of tuition a student p

How Can I Save Tax on Commercial Property That I Own?

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Do you own a commercial property? If so it is more than likely that you qualify for a little known tax relief called capital allowances. Capital allowances are a mechanism allowing companies or individuals to claim back tax on certain areas of expenditure when buying, leasing or improving a commerci

Irs Form 1099-s: 1099fire.com Announces 1099-s Software For 2012 Tax Season

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Beloit, WI -- IRS Form 1099-S is filed to report the sale or exchange of real estate. You are required to report a transaction that consists in whole or in part of the sale or exchange for money, indebtedness, property, or services of any present or forfeiture ownership interest in real estate.

What is IRS Tax Fraud?

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With recent high profile tax evasion cases making headlines people across the country are talking about taxes. However, there is a big difference between not paying taxes and committing tax fraud.

The Average Salary in Music Education

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Millions of Americans study music in some way, and music education is still a part of most elementary and secondary schools across the country. Many of these students go on to become music teachers. College music programs and music education degrees are growing in number, and a music teacher can m

Stamp Duty Mitigation - Is It Legal?

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Stamp Duty Mitigation is also called Stamp Duty Land Tax (SDLT) Planning. It involves the use of a tax law prevalent in the United Kingdom to reduce the amount of SDLT that has to be paid to HMRC (HM Revenue and Customs). The stamp duty land tax is to be paid for the purchase of residential, commerc

3 Little Known Income Tax Deductions You Can Use When Filing Your Taxes

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Did you know that Americans alone will claim more than a trillion dollars in deductions on their income tax returns every year? The IRS reports that of all the silly, avoidable mistakes that we make on our tax returns each year, the ones we should pay particular attention to, have to do with not put

What Can You Deduct on Federal Taxes?

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The IRS provides an array of expenses that you can deduct on your federal income tax return. Some of these expenses, such as penalties on early withdrawals from savings accounts and contributions to health accounts are available to all taxpayers. However, others, such as home-office expenses and wor

How to Get the Tax Credit for Gambling Losses

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You have to pay taxes on your gambling winnings, so it only seems equitable that you should be able to claim a deduction for your losses. The Internal Revenue Service allows you to do this. The deduction won't neutralize the effects of a streak of bad luck, though, because the losses you claim canno

Las Vegas Cpa - Audit Planning

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The importance of finding your fit with a Las Vegas CPA. Tax planning involves talking with a CPA. Business audit and finding your passion.

Can California Tax My Pension If I Live in Texas?

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California applies its state income tax to income from pension plans, individual retirement accounts, 401k plans, annuities and other retirement accounts. But it does not tax Social Security or railroad retirement benefits. California's ability to tax pension income of nonresidents depends on the so

Tax Benefits Associated With Registering a Small Business

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Many people that have been fired or lost their unemployment benefits are turning to freelance work in order to make a living. While there are many benefits associated with this transition, you may be losing thousands of dollars on your taxes if you do not know how to register a business name.

Christian Tax Attorney - Helping Everyone With Their Taxes

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Your local church can be much more than a place of worship; it can be a veritable classifieds. The local parishioners are not just your neighbours; they are a group of service providers that are like minded and like hearted. Every person sitting beside you in the pews have their strengths, abilities

How Does a Lien Holder Report on a Credit Report?

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Any business or individual that owns a security interest in one of your assets is a lien holder. Lenders sometimes attach liens to property before granting you a loan. The asset serves as the debtor's collateral, and it lowers the lender's financial risk because its security interest allows it to re