How to Cut Your Taxes Without Your Accountant's Help

Lower Your Taxes on the Phone Disturbed by how much you pay in taxes? When trying to reduce their taxes, most people focus on their federal and state taxes. While that is a good idea, there is another way to stop paying many taxes- a way that has nothing to do with the IRS or April 15.

File Returns Without Form 1099s

If you received interest or dividend income, sold stock or worked as an independent contractor in 2005, you should receive some version of the IRS Form 1099 to help you in completing your tax return.

Tax Preparation: Maximize Your Refund

Maximize your refund with online tax preparation, personal tax planning, with a simplified process. Get your FREE tax planner and preparation guide to help.

Selling Your Business - A Tool To Reduce Capital Gains Taxes

When you sell your business, wouldn't it be nice to pay Uncle Sam as little as possible. This article discusses a method to greatly reduce and delay capital gains and depreciation recapture on the sale of your business.

1031 Exchange Rule

Most of the people want to use tax deferred methods in order to avoid paying taxes, 1031 Exchange is thus one of the most talked about and popular ways by which exchange of real estate and property is possible without paying taxes. The 1031 Exchange is based on simple rule that any exchange to be done should be qualified as to be exchanged in the law.

S Corporations Can Reduce Self-Employment Tax

As a sole proprietor, 100% of your profits are subject to self-employment taxes. The self-employment tax is 15.3% of all profits up to $94,200 (for 2006). Profits beyond the first $94,200 are subject to a 2.9% self-employment tax. If the profits from your business are $200,000, you will pay self employment taxes of $17,037.

The Legalities and Issues with an IRS Levy

An IRS levy is an order from the Internal Revenue Security directing TVA to withhold a specified amount of an employee's pay to satisfy a tax debt. If the IRS determines that we owe back tax then it may issue an IRS levy requiring the deductions from the pay till the back taxes are paid. They may ask the person to sign an agreement of consent authorizing the amount to be deducted. The IRS levy can allow an amount to be exempt from withholding based on the employee's tax filing station and the number of exemptions claimed.

Paperwork, Paperwork

Recent changes to the tax laws and the required minimum distribution rules have made reviewing beneficiary designations for Individual Retirement Arrangements (IRAs) and qualified retirement plans (e.g. 401(k)) a high priority on the list of retirement and estate planning activities. This is especially true today, when more of individuals than ever have recognized the tremendous life and death tax advantages these retirement savings vehicles offer and have begun to amass considerable wealth within them. Yet many individuals who so conscientiously set aside money for to fund their retirement are very often unthinking and hasty when making and reviewing elections for the ultimate distribution of these accounts. The effect poor elections or the failure to make elections has on future distributions is significant.

Tax Preparation and Electronic Tax Preparation Options

Just in time for tax season you will find yourself presented with this years editions of popular tax preparation programs that promise to make tax filing a breeze for the average person. Which one is right for you and what are some of the most popular electronic tax filing solutions? Read on as we discuss your tax preparation options and explore the popularity of electronic tax filing.

Tax Returns for the Deceased

Two things in life are certain – death and taxes. Here’s what to do if the two are combined as far as filing a tax return.

Automatic Extension Requests For Businesses

The internal revenue service has recently been taking steps to cut down on clutter and streamline the tax filing process. Now they’ve simplified business tax return extensions.

Get a Jump Start on Your Taxes

Preparing and filing your taxes is a less than exciting task. Much like visiting the dentist it something that must simply be done. There are ways to make it a little less painful.

Getting a Tax Credit for Your Kids

As you know, raising a family is a full time job and can put stress on your finances. Fortunately, you can claim a tax credit to help cut your IRS bill if you have kids.