Articles, tagged with "income tax return", page 1

The benefits of forming an LLC

If you've just broken away from the employee-employer relationship and is considering setting up your own business, you might want to form an LLC or a limited liability company. Who knows, this kind of business might just work for you. But what is it and ... Read >
Author: Nolan

Small Business Tax Questions - Are You Required To Deduct Expenses This Year?

If you're a small business owner or self-employed person, what do you do if you have little or no income this year, along with substantial expenses? Do you have to report and deduct those expenses in the year in which they are paid or incurred? Or can you... Read >
Author: Wayne M. Davies

IRS Releases 2011 Version of Form 6251 - Time to Start Thinking about Year-End Tax Planning

The IRS recently released its 2011 version of the Form 6251 – Alternative Minimum Tax – Individuals. With year-end only a few months away, this serves as a timely reminder that anyone stuck in the AMT needs to start thinking about the ways they can reduc... Read >
Author: George Bauernfeind

Small Business Tax Tips - What's The Difference Between A Tax Deduction And A Tax Credit?

Do you understand the difference between a tax deduction and a tax credit? This story should clarify the difference. A self-employed taxpayer (let's call her Debbie) meets with her accountant to discuss her income tax return. She was quite distraught b... Read >
Author: Wayne M. Davies

Summer Time Tax Savings - How To Get A Tax Deduction For Donating Used Items

The purpose of this article is to help you prepare Form 8283, Non-cash Charitable Contributions. The rules for reporting charitable contributions on your tax return are a bit tricky, so take your time as you read on. We'll start with some of the basics on... Read >
Author: Wayne M. Davies

Tax Mistakes - Why Getting A Big Refund Is A Bad Idea

I will never forget the day that a tax client came into my office to pick up his income tax return. "How's it look?" he asked. "Well," I said, "It looks like you're getting a refund." "Great! How much?" "Oh, it's a big one," I said. "Over $5,0... Read >
Author: Wayne M. Davies

Small Business Tax Tips - How To Prepare Form 4562 In 5 Simple Steps

If you buy equipment for your business such as a computer or a printer, you can deduct those items on your business income tax return. Usually that means tackling Form 4562 and entering one of the most complicated areas of tax law -- the dreaded world kno... Read >
Author: Wayne M. Davies

5 Reasons To Buy A Home

Recent events in the housing market have many people questioning if home ownership is still something to aim for. Even as the nation continues to recover from the economic downturn, the benefits of purchasing a home of your own remain as strong as ever. ... Read >
Author: Wilmington SEO

Someone Should Have Told Me!

Have you ever said that? If so - have you identified the person who should have told you? What strategies do you employ to make sure that you are well informed about the world around you, particularly anything that could cause you trouble or cost you ... Read >
Author: Debi Peverill CA

Income Tax Consultant Suggestions On Filing Return

Taxes are being imposed by the government on each and every working person. Women in this way are lucky enough as they do not have to pay this special tax. The income tax is an important type of tax which is imposed on the person depends upon the income o... Read >
Author: sunidhi

Don’t Get Stuck With a Foreign Bank Account

Have A Foreign Bank Account? FBAR Deadline is here. Filing deadline for the IRS’s offshore tax amnesty (called the Offshore Voluntary Disclosure Initiative). IF you don't comply you will get caught. For those with current offshore accounts, the deadline ... Read >
Author: Lance Wallach

Know Disability Insurance better

The sole purpose of individual disability insurance is to replace your after-tax income in the event of an accident or illness. These policies do not provide protection from medical expenses or recovery of damages for "pain and suffering". Since the bene... Read >
Author: Aishwariya Bhatnagar

How to Prepare Form 4562 For a Sole Proprietorship

If you are a Sole Proprietor who purchased business equipment, and you'd like to deduct that purchase on your income tax return without breaking into a sweat, this article is for you. Thanks to a tax rule known as the Section 179 deduction, this article w... Read >
Author: Wayne M. Davies

Small Business Tax Deductions - "G" Is For Gifts & Gas

Here are two valid expenses you can deduct on your small business income tax return, both beginning with the letter "G". Gifts. You can deduct the cost of gifts to customers and other business associates such as vendors, suppliers and service providers... Read >
Author: Wayne M. Davies

Income Tax Rebate Tips: A Few Important Measures

Income tax is a kind of tax which must be paid by every earning citizen of any country in every year. It is one of the duties of the citizens and citizens are legally and constitutionally bound to submit income tax return within a fixed date of every year... Read >
Author: jacksonmark

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