Well here we are, January and it is time to start getting your tax information ready. But what do you need? Twelve months have passed. With the economy the way it is many have already been thinking about their taxes, some haven’t.
Getting things ready to take in to your tax preparer is sometimes a gruelin [...]
IRS Marks EITC Awareness Day; Highlights Expanded Tax Credit
WASHINGTON — An expanded Earned Income Tax Credit (EITC) means larger families will qualify for a larger credit, offering greater relief for people who struggled through difficult financial times last year, the Internal Revenue Service said today.
The IRS and the Treasury Depa [...]
Written by: Courtney Phillips
In the current economic climate, it is no surprise that people are looking for ways to save on their taxes. Over the last several years, many people have begun to telecommute, freelance, or work from home. These people often do not realize that there are many things that can be deducted from taxes as an [...]
Written By: Steve Sildon
For those running small or home-based businesses, you may have gotten in the habit of using a credit card to charge items for your business. The nice thing about using a credit card, especially a small business credit card, is that card issuers typically provide year-end expense statements that itemize [...]
I read a lot about the taxing world. Often I am searchingto find books to recommend to my clients to give them a better understanding how a tax return works and what is needed to make it work best and what they can do to minimize their liability. The Truth About Paying Fewer Taxes is by far the best book I have ever come ac [...]
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Released – January 14, 2009
Affiliate Marketers, Bloggers and eBay Sellers Worried about Understanding and Paying Taxes on Online Income
Ebiz Tax Tips Owner Kristine McKinley Seeks to Remedy Situation by Offering Tax Consulting, Planning and Preparation Services to Address the Unique Tax Needs of Online Business Owners
Since the New Year starts at the end of next week, you’ve got just a couple more days to take some steps to reduce your 2008 taxes. These tactics will lower your realized income so that you can reduce your overall tax bill come spring. Not all of these steps are going to work for all people, but in general, here are the 6 big [...]
Schedule A, Itemized Deductions
Most known deductions for every taxpayer
Itemized deductions are captured on Schedule A as an alternative to taking the standard allowable deduction. To determine which is more favorable for your situation, it is often best to calculate your return both ways.
Generally, if you own your own home you will i [...]
Some notes to ponder as the tax season draws near.
Ø The IRS will no longer print and send estimated payment vouchers to taxpayers who use tax software to prepare their returns. Instead you are supposed to use the vouchers that are printed by your software. – meaning if you bought or used Turbo Tax, keep the ES vouchers that are printe [...]