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Like death, paying taxes is inevitable. In the case of most Americans, tax season is just around the corner. If only paying taxes was so easy. As you begin pulling out those receipts, the eraser and reading plain English tax instructions that Einstein couldn’t figure out, you’re going to need a good laugh. Here you … Read more
The medium is the message, it’s sometimes said. Think of Franklin D Roosevelt and his “fireside chats” to the nation. In a pre-TV era, the radio was the perfect medium to “have a conversation with the American people”. He could get his reassuring message right into folks’ homes, and become a part of the family. … Read more
Just in time for tax season you will find yourself presented with this years editions of popular tax preparation programs that promise to make tax filing a breeze for the average person. Which one is right for you and what are some of the most popular electronic tax filing solutions? Read on as we discuss … Read more
Another year has come and gone and what’s really changed? Are you sitting in roughly the same place you were last year at this time with respect to your taxeswondering what you could have done differently in your business to positively affect your year- end tax bill? All too often, when individuals and closely-held business … Read more
“Payroll Taxes are Due, with Penalties and Interest” At least that is what the letter from the IRS says. First thing, don’t panic. Quoting Daniel J. Pilla’s study for the Cato Institute “About 40 percent of the revenues the IRS collects through penalty assessments are abated when citizens challenge the penalties.” So we now know … Read more
Did you know that you could make money by paying someone else’s property taxes? Thirty-one states provide a little-known investment opportunity that might be perfect for you. You could even see an annual interest return from 18% to 50%. The returns are available through tax lien and tax deed certificates sold by the county. Tax … Read more
Taxes are the great bane of most businesses. Alas, tax deductions act as a salve to cool the burning and itching of your bank account. Overview of the Almighty Tax Deduction for Small Businesses The tax system in the United States is an undeniable mess. With tens of thousands of pages of laws and regulations, … Read more
When it comes to tax shelters, there’s no better or safer place than our own homes. There are a vast number of companies out there spending a lot of money on advertising trying to convince us that we should be sending our hard earned dollars to some island in the sun, where (for a nice … Read more
Ratings for the Oscars were down a whopping 10 percent compared to 2005. Well, at least the Internal Revenue Service was watching. Goodie Bags Not So Goodie Actors that get nominated for an Oscar are might happy indeed. Praise rains down upon them for a good performance and better parts are often in the offering. … Read more
“You’re getting an income tax refund”! Those are the words that every taxpayer would love to hear. A federal income tax refund occurs if the tax you owe is less than the sum of the total amount of refundable tax credits claimed and the total amount of withholding paid. For many individual taxpayers those federal … Read more