Taxes and Taxation
13th June 2008
Companies that develop new or improved products or processes, or make significant investments in the development of internal-use software, may be able to benefit from the research and development incentives. The research tax credit is a dollar-for-dollar ...
21st May 2008
As a small business owner, you are most likely going to incur some expenses related to the promotion of your business. Generally, most of the expenses you incur are deductible either as advertising expense or as some other expense. Some expenses are not...
16th April 2008
Millions of families are facing foreclosure because of rising mortgage payments in our ever-weakening economy. However, if you follow these simple tips you may be able to reduce the amount you pay in property taxes.
Understand Your Local Tax System
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07th April 2008
The Internal Revenue Service (IRS) is feared by millions of American’s because of their aggressive collections. However, generally they cannot make attempts to collect a debt that accrued over 10 years ago.
The IRS is one of the most aggressive and...
03rd April 2008
Now is the best time to start thinking about your yearend tax planning for your business? These tax strategies can be put into effect by the end of the year and some as late as when the tax return is due. Planning now will save you money and reduce your t...
02nd April 2008
Every year American taxpayers attempt to lower their federal tax liability by including any credits or deductions they can think of. Below is a list of the most ridiculous tax write-offs ever allowed by the Internal Revenue Service.
Some of these deduc...
01st April 2008
You all probably know there are a lot of firms nowadays that claim to be able to provide people with IRS tax debt settlement help. Among these we may find attorney firms specializing in tax law and debt counseling agencies that have some experience in dea...
31st March 2008
Why is it that almost every Tax Representation Firm out there needs you to owe more than $10,000 before they will take your case? The Answer is money, the money they will make off of you.
I'm here to tell you, you can handle it all yourself. You he...
30th March 2008
Myth Number One: The IRS will Accept Pennies on the Dollar
You may have heard the term “Pennies on the Dollar” in reference to settling a tax debt. However, 99 cents is “pennies on the dollar,” and filing an Offer in Compromise is compli...
30th March 2008
What Can I Expect in an Audit?
In recent years, the focus of the exam division of the IRS has changed. The service used to examine claims to see if they were true or false. For example, if you claimed a charitable contribution, they’d want to ...
30th March 2008
Garnishment is a government seizure of a portion of your paycheck for payment of taxes. It’s also a last-resort tactic of the IRS to get its money.
When a taxpayer receives a garnishment, it’s very difficult to negotiate with the IRS for several re...
30th March 2008
What Happens When Someone Doesn’t File Payroll Taxes?
Many small business owners, when cash flow doesn’t cover expenses, find the necessary cash by not sending in payroll taxes.
This is a big mistake. When individuals
Author: Chris W
30th March 2008
Knowledge is Power
When you don’t know what your particular tax liability is, you can’t take action, and you can’t resolve the issue. This creates a stressful psychological state of perceived powerlessness. The great news is that you can e...
30th March 2008
Often people don’t file a return because they don’t have the money to pay their taxes. Other times they miss filing because of family, health or career stresses. As a result, nothing happens: the IRS doesn’t call, their life stays the same. By the s...
30th March 2008
When you face a large tax liability, you can give the IRS an Offer in Compromise, or request a Penalty Abatement. But your best defense is to minimize your tax liability at the front end.
“With most of our clients, we can show them tax deductions an...
