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Taxes : Business & Finance

For What Reason Would the IRS Audit Someone?

Many individuals dread the possibility of being audited by the IRS -- and with good reason. It isn't a pleasant experience. While, you can't eliminate the possibility that you will be audited, you can greatly reduce your chances of being audited by avoiding the red flags that tend to trigger an IRS

Can I Claim a Donation Made to a Person as Charity?

The federal government certainly wants you to help out an individual in need, even if that means making a donation of cash or property to that person. Unfortunately, your good deed doesn't entitle you to claim a charitable deduction. To take the deduction, the IRS requires that you make the donation

How to Check the Status on My Tax Return

After filing your tax return, there's a delay between the Internal Revenue Service's receipt of your paperwork and the sending of any refund that you're expecting. During much of the delay period, you can check on the status of your refund online using an online IRS tool created for this purpose. Yo

How to Claim Charitable Donations when Filing your Taxes

Many people deduct the value of their charitable donations from their taxes. The rules have changed, so here are the things you need to know to get the most out of your charitable donations while still protecting yourself in case of an audit.

Job Search Tax Deductions

Looking for a job in a tough economy is tough and can be expensive. Did you know that it can also be tax deductible? If you are looking for a new job in your same field of work the cost of looking may be tax deductible on your federal income tax return. This is especially important if you are out of

How Is a Company's Fiscal Year Determined?

When you first open your business, you will likely be more focused on building a customer base than you are on your taxes. However, when you first open the business, you will have to make several choices about how to operate your business and file your taxes. An accountant may be able to help you ma

The Tax Man Cometh, And Takes Just About Everything!

This article shows how the Internal Revenue Service can take just about anything a person owns if they think that they are owed back taxes. It also goes on to explain some terms which may be a little confusing to some.

A Conversation About Tax Liens and Tax Deeds

Tax deed auctions and tax lien auctions are alike in many ways, but you have to keep in mind that they aren't the same thing at all. When you the successful bidder on a tax lien property, there redemption period involved and what comes about next is dependent upon the actions or inactions of th

How to Report a Stimulus Check on a Tax Return

Millions of Americans received a stimulus payment from the U.S. government averaging $600 for single taxpayers and $1,200 for married in 2008 -- a gift made possible by the Economic Stimulus Act. This money was granted to taxpayers as an advanced tax cut that was payable in 2008, rather than 2009 wh

Need Federal Tax Help?

When you first need help with tax, you must realize that a phone call alone is not going to do the job. You have to also get in touch with someone that is skilled in dealing with the tax man and the governing bodies that rule them.

Bankruptcy Calculations

Normally, when preparing a legal case, you prepare a complaint and a summons and file it with the court. When preparing a bankruptcy case, however, you must fill out several forms. Some of these forms require that you complete mathematical calculations. To successfully prepare a bankruptcy forms, yo

How Many College Years Are Required to Become an Eye Doctor?

Eye doctors, also known as optometrists, don't just test vision and give out glasses. They also work to diagnose problems of the eyes, like glaucoma and cataracts. According to the Bureau of Labor Statistics, it's not easy to get into optometry school, with only 33 percent of candidates receiving a

Choosing An Online Tax Return Filing Provider

In present scenario, life has become so busy that one cannot spare time for preparing his tax return. Even if he hires an accountant, he needs to keep regular check on the filing done by the accountant and is expensive also. To meet the need of today, online tax return filing has proved a boon.Onlin

Can I Write Trade School Off on My Taxes?

If you decide to enroll in a trade school to prepare for a new career, the government may subsidize your tuition payments with a tax deduction or credit. These tax-saving benefits are not automatically available just for enrolling in a trade school. To claim any of them on your taxes, you must satis

How to Calculate Real Estate Tax

Real estate taxes are imposed on property owners based on the value of the property. Real estate taxes can apply to all types of structures such as homes, offices and stores. In the United States, real estate taxes are a popular way for state and local governments to raise revenues. According to Mon

IRS Currently Accepting Applications for Clinic Grants

This summer the Internal Revenue Service announced the launch of its 2011 Low Income Taxpayer Clinic (LITC) grant application process. The Low Income Taxpayer Clinic grant program offers funds to qualifying organizations so that they might open and maintain a low-income taxpayer clinic. These grants

How to Calculate Taxes Based on Annual Salary

Your salary is a fixed amount of income that you can count on each payday. Ordinarily, salary cannot be reduced or deducted unless it's permissible under federal or state law. Your annual salary is the agreed-upon amount that you receive for the year. Similar to hourly wages, salary is subject to fe

What Happens to My Taxes if I Claim Head of Household?

When you file your federal tax return as head of household, you will ultimately pay less in taxes than if you file as single. Some of the benefits of this filing status include having your income taxed at lower rates, the ability to reduce your taxable income with exemptions and a larger standard de

Tax Deferral 1031 Exchanges and Cost Segregation

Tax deferral through 1031 exchanges, or tax-free exchanges of real estate, have become a popular method of tax deferral of capital gains taxes. Almost by definition, individuals who utilize the 1031 exchange option are reluctant to pay taxes that can legally be avoided. 1031 exchangers have asked if