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Wise Tax Ideas

Most people don’t really look forward to filing their tax returns and paying their taxes. As it is, there really isn’t much to look forward to because it is a tedious process that can take weeks to complete. Some people even have the bad luck to raise the interest of the IRS. The trouble . . . → Read More: Wise Tax Ideas

Why Do I Need A Tax Attorney?

It is unfortunate but true, that many people do not even consider consulting a tax attorney until they open their mailboxes one day and there is that dreaded letter from the IRS. A tax attorney is a lawyer that specializes in all areas of taxes. The tax attorney is required to attend law school . . . → Read More: Why Do I Need A Tax Attorney?

When Tax Day Comes Four Times A Year

For more than 10 million Americans, tax day comes up to four times a year. Many small business owners, as well as people earning income from investments, rental property or alimony, are often required to pay quarterly estimated taxes every April, June, September and January.

Many filers struggle to determine how much they owe, . . . → Read More: When Tax Day Comes Four Times A Year

When Do You File a Tax Return?

The first known income tax that Americans were legally required to pay was enacted during the 1860s, and the Presidency of Abraham Lincoln. The Civil War was proving very costly to fund, and the President and Congress created the Commissioner of Revenue and enacted a law requiring citizens to pay income tax.

Originally, the . . . → Read More: When Do You File a Tax Return?

What to Look for in Online Tax Prep and Filing Software

You may have a less taxing time this April if you let computer software do much of the hard work filing with the IRS.

You won’t be alone. According to IRS data, more than 68 million tax returns were filed electronically last year, with more than 17 million taxpayers filing their own returns online. . . . → Read More: What to Look for in Online Tax Prep and Filing Software

What to Do If You Can’t Pay Your Taxes

The end of tax filing extensions is quickly approaching. What do you do if you can’t pay the amounts you owe? You should still file your return by the due date and pay as much as you can. There are, however, additional steps that might help.

Credit Cards

You can charge your taxes on . . . → Read More: What to Do If You Can’t Pay Your Taxes

What are the taxes on earnings?

Almost all governments across the globe are funded– in some form – by the taxation of its citizens. Certain of the taxes are collected at the time of sales or service whereas certain others in a 12 month period or at the end of what they call a fiscal year. Taxes on earnings or . . . → Read More: What are the taxes on earnings?

Types Of Tax Exchanges

Although the vast majority of exchanges occurring presently are delayed exchanges, let us briefly explain a few other exchanging alternatives.

Simultaneous Exchange As mentioned previously, prior to Congress modifying the Internal Revenue Code as to exchanges and formally approving the concept of delayed exchanging, virtually all exchanges were of the simultaneous type. To qualify . . . → Read More: Types Of Tax Exchanges