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Taxes : Business & Finance

Federal Income Tax Write Offs

The federal government operates on revenues that are generated from taxpayers. Tax rates are periodically updated to reflect the amount an individual or business owes for income received during a specific tax year. Federal income tax write-offs are offered to provide a deduction or a tax credit for

How Much Do Filmmakers Get Paid?

Filmmakers work as either producers or directors, both of which play integral parts in the making of any film production. Directors take charge of the creative aspects of the production, making sure the actors, set designers, camera crew and others all work together to create a final product. Produc

Why Hiring A Tax Attorney Is In Your Best Interest

Serious tax problems are just that - serious. They can be very difficult to deal with because the IRS has all the leverage in the case. The internal revenue code and accompanying regulations can be ...

What Taxes Are Not Paid in Retirement?

The federal government has set the retirement age between 65 for people born before 1938 and 67 if you were born after 1938. However, a person can retire at 62, but you will lose 25 percent of their benefits. Therefore, unless you're financially strapped, you should wait the additional...

The Definition of Tax ID

Generally speaking, most businesses need a taxpayer identification number issued by the Internal Revenue Service. You can apply for the number on the IRS website as soon as you're ready to actively begin the start-up phase of your business. You need your tax ID to communicate with the IRS. You also

How Do Estimated Taxes Work?

Many people don't realize that everyone pays estimated taxes during the year. Most people, however, do this via payroll withholding. They make most of their money through a regular paycheck, and their employer withholds federal and state taxes based on the amount they are paid minus an estimated ded

Understanding More About QDRO

A divorce may be a difficult time, but it is imperative that sound decisions are made regarding the division of the property or any other assets that you and your spouse have accumulated during your ...

How to Settle an Estate for Someone Who Owes Back Taxes to the IRS

Understanding the weight of your responsibility as the executor of a decedent's estate is key to avoiding the wrath of the Internal Revenue Service. When you settle a deceased person's estate, you are acting on his behalf and are expected to fully understand how to manage his assets as well as his d

Employed & Self-Employed Taxes

While the process for paying employment taxes varies greatly, depending upon whether an individual is self-employed or employed, the inescapable fact is that almost anyone who earns any sort of wage in America is subject to a handful of mandatory taxes. For traditional employees who receive a W-2 at

Strategies to Convert Earnings Into Tax Free Income

Taxes eat up a large percentage of Americans' investment earnings and personal income. A prudent financial strategy for many is to convert some of their income that they have already paid taxes on into a savings vehicle that will allow for tax-free income in the future. Having a large pile of tax-

Prepare Your State Taxes for Free

A list of states that offer free file to certain taxpayers. These states offer free state income tax return preparation software through a variety of tax software companies.

Do I Have to Report My Scholarship on My Taxes?

If you have scholarships for college or graduate level work, you need to know how that money is treated by the Internal Revenue Service for the purposes of income taxes. Depending on your expenses and your status as a student, you may have to include that money on your income tax return as taxable i

Irs Examinaton What Are Your 4 Options

IRS Tax Audit NotificationsA person or business will be notified by phone or mail that a tax auditis beginning for endorsement on their behalf. Within this notification will be specificantions of the return information that will need to be verified to finish the tax audit.

Expat Taxes: 14 Questions You Need to Ask Your Tax Advisor

We receive questions nearly every day from American expatriates. Most of their emails express confusion and distress surrounding an expat's reporting and filing requirements. Don't be fooled, the IRS Tax Code regarding Americans living and ...