IRS Warns Churches It Will Be Watching

The IRS has warned that it will be watching churches closely to make sure that they do not violate tax-exempt regulations. Both liberal and conservative factions have been filing numerous complaints against churches with the IRS.

Small Business Tax Tips

Any small business owner knows that they may live or die by the financial decisions that they make. While many cut corners by making prudent purchase decisions, few realize the opportunities that are available to them when it comes to working out the taxes for their business.

Internal Revenue Service Audits

Pick your favorite scary movie. It could be the first Alien or something else. No matter how scary they were, nothing is scarier than an audit by the Internal Revenue Service.

How to Settle Your Tax Debt for Pennies on the Dollar

When you owe the IRS for back taxes, you probably owe a large sum. Most people who fall behind in their taxes, owe for more than just one year. When you owe back taxes, you know that the penalties and interest will end up costing you more than the original debt - usually MUCH MORE!

Understanding The Dreaded Income Tax

Every year in April, Americans are faced with an imposing deadline - tax day. Throughout the year, income is earned and then taxed. Depending on the way in which dependants are claimed and deductibles used, a person would then be entitled to money back come income tax time or they would have to pay taxes.

Secrets of Offshore Banking

Discover the secrets of offshore banking and incorporation. Is it legal?

How Are Bonds Taxed Upon Death - A Sequel

Question: Thank you so much for your response. It was over and above what I needed to know, which is great. The more informed we are on this the better! I do have one additional question. If we cash out the bonds with the estate, the interest will be around $300,000.00. If we cash them out individually (split 3 ways), won't the taxes be lower as they will be under $150,000.00 (including our other income) for each of us and in a much lower tax bracket? I am not clear on the advantages of cashing them out in the estate. Please explain this further. Thank you, R.

Mortgage Interest Tax Deductability - What Are The Limitations

What Americans don't realize about the limitations on their mortgage interest deduction can cost them a lot of money in the future.

Child Care Tax Deduction 101

For parents of children 12 and under, the child care tax deduction can be a life saver to working parents. Parents should become familiar with the tax information regarding the child care tax deduction. If they aren’t sure what to do, there are many tax professionals which can offer tax advice on how to claim this deduction. All of this can help them when it comes time to file taxes online.

Figuring Your Basis, Get It Right, Reduce Your Taxes, Get It Wrong and Pay Much Higher Taxes

Congress votes in over 100 new Tax Laws every year. The software programs do an excellent job of implementing these changes, however, I am not sure how well they do with finding the loopholes.

The Proposed Income Trust Taxation -- Impact to Canada and Investors Around the World

Summary of the recent proposed income trust taxation in Canada and whether the latest development presents risks or opportunities to investors around the world.

Understanding the New Energy Tax Credits for Homeowners

Global warming, dependence on foreign oil, high energy prices-yikes-one can't help but look for ways to conserve energy.

How to Prepare Taxes Online

Learning how to prepare taxes online is a simple process. You can find many good websites on the internet that have quality tax preparation and filing programs. Most of these programs have an easy to follow system that will guide you through the tax return process.