When the need to travel arises, business professionals have to make it clear whether it is business-related or some form of vacation, and whether they are staying in the mainland or taking the next flight out of the country. This could spell out a big difference when it comes to tax deduction. Tax treatment in [...]
Continue reading...25. December 2008
Many small businesses tend to procrastinate when it comes to filing for taxes. They behave in this manner for many different reasons. Some are uncomfortable in this unfamiliar territory, so they keep putting it off. Others, caught up in the daily operational issues of running a business, simply can’t find the time to sit down [...]
Continue reading...24. December 2008
Without a state sales tax number, you wouldn’t be able to buy in bulk, and get items at a discount, to be sold later for profit. The state sales tax number was implemented in order to protect businesses, because if there was no such thing in effect, everyone would get to buy at wholesale prices, [...]
Continue reading...23. December 2008
There are many ways to find out if your boss had filed taxes for your wages or not. The easy way, is to ask your boss if the tax filing has taken placed. However, you may not wish to take your boss’s word for something that is as important as taxes. The only way to [...]
Continue reading...22. December 2008
Everybody is seems to be grumbling when that time of the year comes - filing for taxes. But this is not a time to be grumbling. After all, all responsible citizens need to pay taxes in order for the country to continue functioning. So there is little use for grumbling. What you can do, [...]
Continue reading...21. December 2008
Picture this: you’ve decided to live outside of the United States for some reason, started moving all of your assets and belongings, and resolved not to return, at least not anytime soon. You’d probably say to yourself, “Finally, no more filing of income tax returns in the US!” Well, sorry to disappoint you, but you [...]
Continue reading...20. December 2008
Who says you always have to be burdened with sales tax every single time you make a purchase? You’d be surprised that there are a few loopholes and avenues you can explore to circumvent the seemingly inevitable, unavoidable sales tax. Of course, these are all perfectly legal ways, so don’t ever worry about the Internal [...]
Continue reading...19. December 2008
For tax filers who would not be able to pay in full (if there’s tax due), it is important to be aware of the IRS collection process, which starts from the time the tax is filed and continues until your balance is paid or until the Internal Revenue Service may no longer legally collect the [...]
Continue reading...18. December 2008
If you are a US citizen, you must file for income tax return if your income is above certain levels. Other factors such as age and type of income you receive are also taken into consideration. If you are unsure as to whether you are required to file for income tax return, you can find [...]
Continue reading...17. December 2008
Buy a home AND get paid $7,500 for it, thanks to the new HOPE for Homeowners bill. With HOPE, would-be homeowners are entitled to a $7,500 First Time Home Buyer tax credit. Yes, you basically get $7,500 back when it’s the first time you buy a house. Although there are a few requirements to be [...]
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26. December 2008
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