No need to stay in the dark and not know what is involved in Corporate Tax Return Preparation. For the Do-It-Yourself types that wants to do their own corporate tax preparation, or for those that just want to know what their accountant does for them, here is a guide on what steps are involved in preparing a tax return for an incorporated business. In getting started, note that tax return preparation requires you to compile business accounting...more
The tax office receives billions each year in over paid taxes simply because businesses maintain poor record keeping and financial planning is inadequate. Finding out for yourself as much about the tax game as you can is an opportune and useful tactic, it can save you money and reduce your tax liability.If you are running a business then you either do the accounts yourself, or have an accountant to do them for you. Your accountant will prepare...more
Everyone knows that they have to pay taxes but some people don't even know what a tax is. Collected by the state and the federal government, taxes are required charges that are collected against every working adult. In some form or another, taxes have always been charged against people - even in family, taxes were collected in the form of gold, produce, or even labor. They're a way that we give back to the community we live in.In the past, taxes have been used to do things like finance wars but today mostly our tax money goes towards things like maintaining the public education system, the upkeep of our laws, build new infrastructure, maintain and build new roads, our defense, and so much more.In 1913 the Federal Income Tax was instituted by President Woodrow Wilson. Between 1% and 7% of a person's income is deducted for this tax, depending on various factors. And since then, more taxes have been added in order to keep our government running. After World War I, the American Tax Code has become four times larger.In America, we have a system that lets the government know how much you've earned, and if you've paid the correct amount of taxes. The tax returns run by the Internal...more
Sports always are a good way to rejuvenate oneself. They not only entertain but also build up a persons energy levels. NFL or National football league is the highest level of professional football in America. The league currently consists of 32 teams from America. Interestingly National Football team Matches are attended by an average 67,000...more
What can you do to get that tax lien off of your aching back? How can you handle the stressors of the government knocking down your door with all of its requests and demands for payment on your overdue taxes? Handling a tax lien isn't really all that difficult, you just need to know your basic options and move forward from there.Before the...more
Tax can have a major impact on your rental propertys bottom line. Do not overlook tax implications when planning for owner financing deals, like a land contract (a.k.a real estate contract, or contract for deed).The legal title is not recorded or transferred until the buyer fulfills the contracts obligations usually a few years from the Closing. However, your property is considered sold, in IRS rules, when a real estate contract is signed.From the seller perspective, the capital gains (if any) would be recognized as an installment sale and would be recognized proportionally as the principal payments are received. As a seller, you cannot depreciate the property, and cannot engage in a 1031 exchange at the final sale. You would report interest income on the mortgage payments received, and the mortgage payments you make would be deductible as investment interest on Schedule A.Its a great tax advantage to pay capital gain tax over the years through installment sale if you have a sizable gain and are not considering 1031 exchange. However, you will lose the ability to take depreciation and mortgage interest deduction. Evaluate carefully your tax situation before deciding on your best...more
HP 17bII+: This one is considered to be the king among all of HP's models; you can now create and store all of your custom calculations with this model.HP Financial Calculators and Tax Resolutions By: Denyse Buckner About the Author ...more
With April ends the tax filing tensions and after this you forget about them completely until next year. But income tax haunts you everyday. Preparing taxes is not a simple task. When someone neglects it, he/she invites unnecessary problems and lot...more
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Brady's remarks against the Jets did not let both teams were surprised, Jets WR Jerricho Cotchery said: "Tom has always hated Jets, we have been a great Patriots move, Rex came before like this, Brady's words in our expected. "In recent years, with...more
What is a Tax Levy?When you do not pay your tax obligations, the IRS can legally pursue severe financial action to secure a repayment. A tax levy is far more serious than a federal tax lien. A lien is a claim against assets. While a federal tax levy...more