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23rd September 2009
In December 2005 Terradaily published a report from
Agence France-Presse on a scheme to reduce oil
The season of cheer can make a procrastinator out of you as far as taking care of tax planning and finances is concerned. As January 2008 dawns it will ... Read >
Author: riya77506th September 2009
On Tuesday, February 17, President Obama signed the Stimulus Package in law at the Denver Museum of Nature and Science saying that today marks the beginning of the end of the recession. He believes this to be the beginning of what is needed to reassure fa... Read >
Author: Norris Rios07th August 2009
Businesses, big or small are run with a profit motive. Small businesses are prone to face difficulties because of their size, as they are mostly dependant upon the attitude, skills and decision making powers of an individual. We can define a small busines... Read >
Author: rickcarstens30th July 2009
I've heard from many of you asking for more information on the AMT because some of you are in it and others fear they will be in it soon. This is not a surprise to me because I have found 2 things to be true in recent years about the AMT:
First, more ... Read >
Author: Tom Wheelwright20th July 2009
Did your tax bill go up dramatically this year, courtesy of the alternative minimum tax (AMT)? You're not alone. Every year, this happens to more and more people. That's because the single exemption allowed in the AMT has not kept pace with inflation.... Read >
Author: Thomas Quinlin20th July 2009
Are you affected by the alternative minimum tax? Or worried you might be? You have reason to be concerned. Few of the government's changes to the tax system have had a more adverse effect or have caused as much anger and frustration as the alternative m... Read >
Author: Thomas Quinlin20th July 2009
Summertime Tax Tip 2009-03
Many parents who work or are looking for work must arrange for care of their children under 13 years of age during the school vacation.
Here are five facts the IRS wants you to know about a tax credit available for child ca... Read >
Author: kinal19th July 2009
IRS Summertime Tax Tip 2009-01
Tax Tip:
Many taxpayers spend time during the summer months polishing their résumé and attending career fairs. If you are searching for a job this summer, you may be able to deduct some of your expenses on your tax r... Read >
Author: kinal19th July 2009
In Information Release 2009-64, issued last week, the Internal Revenue Service announced that is publishing a series of periodic “summertime tax tips.” The stated purpose behind issuing these tips is to provide useful and concise advice on topics tha... Read >
Author: kinal18th July 2009
There has been a lot of talk recently about itemized deductions. Itemized deductions are the deductions you can claim for certain personal expenses, such as, taxes, interest, charitable donations and investment expenses.
The big discussion right now c... Read >
Author: Tom Wheelwright01st July 2009
Can I Consolidate My Car and Personal Loans?
Yes, you can consolidate your car and personal loans if you qualify for a larger loan. Usually it’s easiest if you own a home with enough of an equity cushion to borrow against it. However, you can consoli... Read >
Author: Justin Narin23rd June 2009
The Alternative Minimum Tax is a parallel tax system that is an integral part of our Federal income tax system. It expands the amount of income that is taxed by adding items that otherwise are tax-free under the regular tax, and by disallowing many deduct... Read >
Author: kinal23rd June 2009
The Alternative Minimum Tax (AMT) is a taxpayer’s nightmare. The AMT was created in 1969 to ensure that the super-rich couldn't avoid taxes through various tax shelters. Its burden, however, is being felt by many more taxpayers principally because the A... Read >
Author: kinal23rd June 2009
The Alternative Minimum Tax is an integral part of our Federal income tax system. It is a separate, but parallel, system to what we refer to as the "regular" income tax. The AMT expands the amount of income that is taxed by including items that otherwise... Read >
Author: kinal18th June 2009
Retirees usually are the most surprised of all taxpayers when they find themselves in the Alternative Minimum Tax. Unfortunately, there is no “age exemption” – if you have the right blend of income and tax deductions, it hits you just as hard as it ... Read >
Author: kinal18th June 2009
Retirees usually are the most surprised of all taxpayers when they find themselves in the Alternative Minimum Tax. Unfortunately, there is no “age exemption” – if you have the right blend of income and tax deductions, it hits you just as hard as it ... Read >
Author: kinal18th June 2009
It’s a pretty safe bet to say that the vast majority of folks do not have an understanding of the Alternative Minimum Tax. In this next “mini-series” of articles we’re going to try to give you just an outline of it, not a full-semester course as o... Read >
Author: kinal18th June 2009
It’s a pretty safe bet to say that the vast majority of folks do not have an understanding of the Alternative Minimum Tax. In this next “mini-series” of articles we’re going to try to give you just an outline of it, not a full-semester course as o... Read >
Author: kinal18th June 2009
The IRS recently put on its web site a summary of changes made to the Alternative Minimum Tax for 2008 and for 2009. While the 2008 information isn’t of much interest to those who already have filed their 2008 tax returns, it certainly is worth noting t... Read >
Author: kinal18th June 2009
The IRS recently put on its web site a summary of changes made to the Alternative Minimum Tax for 2008 and for 2009. While the 2008 information isn’t of much interest to those who already have filed their 2008 tax returns, it certainly is worth noting t... Read >
Author: kinal18th June 2009
Shortly after April 15 President Barack Obama and Vice President Joe Biden released their 2008 income tax returns. What these tax returns showed is that the President is not paying the Alternative Minimum Tax, but that the Vice President is still stuck in... Read >
Author: kinal18th June 2009
Shortly after April 15 President Barack Obama and Vice President Joe Biden released their 2008 income tax returns. What these tax returns showed is that the President is not paying the Alternative Minimum Tax, but that the Vice President is still stuck in... Read >
Author: kinal18th June 2009
From Title 26 of the United States Code - also known as the Internal Revenue Code:
“Subchapter A of chapter 1 (relating to determination of tax liability) is amended by adding at the end thereof the following new part:
"Part VI – Minimum Tax fo... Read >
Author: kinal18th June 2009
From Title 26 of the United States Code - also known as the Internal Revenue Code:
“Subchapter A of chapter 1 (relating to determination of tax liability) is amended by adding at the end thereof the following new part:
"Part VI – Minimum Tax for... Read >
Author: kinal13th June 2009
The second quarter for estimated tax purposes actually is a bit of a misnomer. The “quarter” consists of taxes for the months of April and May alone, unlike a normal three-month quarter. In any event, these estimated taxes must be paid by next Monday... Read >
Author: kinal13th June 2009
As noted in the last article, the tax brackets that apply to capital gains and dividends are completely different from the tax brackets that apply to ordinary income . By definition, all income other than capital gains and dividends is called ordinary inc... Read >
Author: kinal08th June 2009
In the past several articles we have talked about tax planning, and Alternative Minimun Tax planning in particular. Sure, it gets into some details, and sure, taxes are not easy. But let’s step back and take a look at the “forest for the trees” an... Read >
Author: kinal08th June 2009
The most common item affecting folks paying the Alternative Minimum Tax is the deduction for state and local taxes. For regular tax purposes, you are allowed a deduction for state income taxes, city or other local income taxes, real estate taxes, persona... Read >
Author: kinal08th June 2009
In the legislative environment in which we currently find ourselves, significant changes affecting the taxation of individuals – that’s you and me – are expected to be made, and to be made soon. All of this activity likely will also have a dramatic... Read >
Author: kinal18th May 2009
It’s common knowledge that we have to pay our taxes as we earn our income. For employees, taxes are withheld from each paycheck, while self-employed folks are required to make quarterly estimated tax payments. But what about the AMT?
Not-so-common kn... Read >
Author: AMTIndividual18th May 2009
The AMT “patch” that Congress passed in the recent stimulus bill saved 24 million taxpayers from falling into the AMT in 2009. As we mentioned in the last article, this temporarily fixed the problem caused by Congress’ original failure to index the ... Read >
Author: AMTIndividual18th May 2009
Once again we read that Congress has fixed the AMT problem by enacting a temporary “patch” in the recent stimulus bill. With this, 24 million taxpayers who otherwise would be in the AMT in 2009 are spared – but only for one year. Come January 1 thes... Read >
Author: AMTIndividual15th May 2009
Know the Rules
Employee stock options can provide you with a substantial source of deferred income and permit you to control the recognition of taxable income. You generally pay no tax when an option is granted because you are not receiving any shares ... Read >
Author: Alan L. Olsen, CPA15th April 2009
With the ongoing changes and updates to both Obama’s stimulus plan and budget, it is getting hard for even the most educated Americans to keep up. To help those of you who are confused please enjoy the following in-depth analysis of Obama’s new stimul... Read >
Author: Roni Deutch15th April 2009
With the ongoing changes and updates to both Obama’s stimulus plan and budget, it is getting hard for even the most educated Americans to keep up. To help those of you who are confused please enjoy the following in-depth analysis of Obama’s new stimul... Read >
Author: Roni Deutch31st March 2009
Tax season is in full swing, but some taxpayers may not be aware of some changes for this season. There are new tax credits, as well as extensions of previous credits taxpayers need to consider.
This year, there are several changes to the tax laws tha... Read >
Author: jkh27th March 2009
Federal income tax deduction is a term that probably everyone has heard before. But what is an actual federal income tax deduction? Income tax deductions are a legal requirement for the United States tax law. If you are a U.S. citizen, and fall into an in... Read >
Author: James Trippon09th March 2009
These days there is a lot of talk about making the rich pay more taxes and giving a tax break to the middle class. The Obama Administration has made no secret of their intention to raise taxes for the richest 2% of Americans. The accompanying message is t... Read >
Author: Ken Rios24th February 2009
Copyright (c) 2009 William Piner
Fighting the Alternative Minimum Tax
Many more of you find yourselves in this predicament. What can you do? Who can you call? Well, those dashingly handsome financial super heroes are here to serve. If you are using ... Read >
Author: Ron Piner, CPA09th January 2009
Among the many changes that went into effect for 2008 tax year is a new tax credit for first-time home buyers and higher income and contribution limits for funding tax-deductible Individual Retirement Accounts and tax-free Roth IRAs.
In addition, there... Read >
Author: Rick Thomas17th October 2008
Alternative Minimum Tax consequences are not a result of cost segregation. Nor is cost segregation accelerated depreciation. Decisions regarding cost segregation and accelerated depreciation are independent by the four options as illustrated in the follow... Read >
Author: PatrickO'Connor02nd October 2008
The special interest groups have been working around-the-clock in a desperate move to incorporate their desires into the $700 billion bailout plan. Through 09/26/08, it is estimated the lobbyists received $234 million dollars in payments to support the b... Read >
Author: golfergary05th September 2008
Cost segregation identifies applicable components and establishes the value and correct time line for depreciation. Under typical circumstances, depreciation is spread out over as long as 39 years. However, cost segregation applies depreciation to parts... Read >
Author: PatrickO'Connor02nd July 2008
A C Corporation is the only business structure that is never a pass-through entity.
The difference between C corporations and all the others is that c corporations are completely separate C Corp tax entities. This means you don’t pay the business taxes... Read >
Author: Nick Braun EA PhD25th June 2008
Polls are showing that the economy is turning out to be the most important topic in the upcoming general election. Since economic, and tax issues affect every single day of our lives, it is important to fully understand both candidate’s tax views. To he... Read >
Author: Roni Deutch25th June 2008
Polls are showing that the economy is turning out to be the most important topic in the upcoming general election. Since economic, and tax issues affect every single day of our lives, it is important to fully understand both candidate’s tax views. To he... Read >
Author: Roni Deutch25th May 2008
This article shows the most important features of the Great Plains Fixed Assets Module. The objective of this summary is to educate Great Plains users about the capabilities of this ERP System and to determine if additional Customization is required.
T... Read >
Author: Ray Jensen08th November 2007
Those who earn a million dollars or more currently pay 18% of all federal taxes but that number will rise to 20%. Likewise those who earn $500,000 to $1,000,000 will move from 6.7 % to 7.1%. Those who make between $100,000 to $200,000 will see a drop from... Read >
Author: Mali7424th July 2007
I learned something new today. Or maybe I received financial revelation. Regardless of what happened, I am about to share this combination income tax, portfolio building finding with my faithful radio listeners and article readers. “Do what the hell I t... Read >
Author: Ron Piner, CPA24th July 2007
I Am My Daddy’s Tax Deduction
I know my daddy loves me but he seems much happier with me during income tax time. A whole year of taking care of me yields some sort of tax windfall as long as my daddy’s adjusted gross income is not too high ... Read >
Author: Ron Piner, CPA24th July 2007
I know you must be frustrated with this alternative minimum tax but do you really know what it is all about? Chances are you don’t fully understand. I will attempt to explain the alternative minimum tax to you and offer some tax planning strategies to h... Read >
Author: Ron Piner, CPA30th April 2007
The alternative minimum tax (AMT) is an extra tax that certain taxpayers must pay in addition to their regular income tax. The purpose of the AMT is to prevent taxpayers with substantial income from using tax "loopholes" (such as certain exclusions, deduc... Read >
Author: Sandeep24th January 2007
If there is one tax that drives people nuts, it is the alternative minimum tax. Ironically, it may be the one piece of the tax code that forces a complete re-writing of the tax code.
The alternative minimum tax was created in 1969. The goal of the tax... Read >
Author: Richard Chapo18th January 2007
The IRS has an office within it that most people are completely unaware of – the national taxpayer advocate. What does the advocate due? The office helps you deal with the IRS when it gets to aggressive.
Each year, the taxpayer advocate kicks out a ... Read >
Author: Richard Chapo08th January 2007
New Year's Day came and saluted us with a few changes: higher contribution limits for 401(k) plans, a decline in the top federal estate-tax rate and more deduction for many mortgage insurance buyers. Personal exemption, standard mileage rate, income brack... Read >
Author: Earnest15th December 2006
As the price of gasoline drops, the sales of gas-electric hybrid vehicles plunge as well. Also, the federal tax credits given to several hybrid vehicles are now minimized for some auto brands. This is the mounting dilemma of hybrid-vehicles owners.
O... Read >
Author: Mark Clarkson02nd August 2006
Know the Rules
Employee stock options can provide you with a substantial source of deferred income and permit you to control the recognition of taxable income. You generally pay no tax when an option is granted because you are not receiving any shares ... Read >
Author: Alan Olsen20th March 2006
Now, here's a real tax savings to the individual taxpayer with dependents. The child tax credit is a direct federal income tax credit based on the number of dependent children in your family. This federal tax credit is available to provide credit to taxp... Read >
Author: Keith Hoyng19th February 2006
Getting married is the greatest day for 50 percent of couples. The other 50 percent get divorced. Perhaps the marriage tax penalty has something to do with it.
Family Values Hardly
For all the chatter from politicians about family values, it is i... Read >
Author: Richard Chapo07th January 2006
Hell hath no fury like a person who just found out the alternative minimum tax applies to them. The IRS has set up an online tool to figure out if you do.
Alternative Minimum Tax
The alternative minimum tax is a procedure that was set up to keep th... Read >
Author: Richard Chapo04th November 2005
The political landscape this year has been nothing but ugly. It promises to come to full boil with the proposed tax reform eliminating or reducing the mortgage interest deduction.
Tax Reform or Raising Taxes
There is an old saying about the two pol... Read >
Author: Dan Lewis04th November 2005
A bipartisan committee has made two recommendations to President Bush regarding tax reform. In this article, we take a look at the second option.
Tax Reform
A year ago or so, President Bush decided to spend his political capitol on tax reform and f... Read >
Author: Dan Lewis27th October 2005
A committee appointed by President Bush has come up with an alarming recommendation. They want to limit the tax deduction for mortgage interest!
Reform
Following his re-election, President Bush set up an aggressive agenda in which he hoped to reform... Read >
Author: Dan Lewis
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