Articles Index
Use the Right Income Tax Return Form
Make Tax Filing Easier by Using the Right Income Tax Return Form
Tips for Finding the Right Tax Accountant
Taxpayers of all types can benefit from hiring a tax accountant. But before you spend your hard-earned cash, here's some simple steps you can take to protect yourself, to find the right professional for your situation, and some questions to ask.
Tax Deduction for Charity Donations
Donations of cash and property to qualified non-profits are tax deductible. To be deductible, taxpayers must keep records of their contributions, especially of any gifts over $250. For non-cash contributions, taxpayers must keep records indicating the value and condition of the property given to charity.
Home Equity Loan Tax Deduction
One nice feature of home equity loans is that borrowers may get a tax deduction on interest paid for the loan. Before you try this, you should understand that the tax deduction is not unlimited. Find out how the tax deduction really works.
Form 1040-EZ Tax Basics
Prepare your 2008 tax returns on Form 1040EZ using easy-to-follow steps. Plus tips for preparing your tax return accurately and completely, from your About.com Guide to Tax Planning.
Reduce Your Income Taxes
Reduce Your Income Taxes by Itemizing Deductions
Make Tax Filing Easier
Make Tax Filing Easier with These Record Keeping Tips. What records should you keep for tax purposes and how long should you keep them? Record keeping advice you can use all year
8 Reasons to Ditch Your Shoebox Accounting System
For many start-ups and sole-proprietors, the shoebox or file box was a temporary fix prior to setting up an accounting system. But with procrastination the box can become the nemesis of your small business.
The Great Debate: Employee vs Independent Contractor
Hiring an independent contractor or new employee is an important business decision. To guide you to the best possible decision, consider the pros and cons of hiring an employee or an independent contractor.
Top Ways to Avoid Small Business Audits
Strategies to help your small business avoid an audit or weather one if it comes.
Job Search Tax Deduction Tips
It's the time of year most of us dread - time to start thinking about calculating your income tax and settling up with the IRS and with your state department of taxation. The good news is that many job search expenses are deductible. If you've been looking for a job in the same line of work you're currently in, many of your expenses like phone calls, the costs of preparing and copying your resume, and career counseling are deductible.
Deductibility of Business Insurance Premiums
Business insurance premiums are tax deductible as business expenses. This article discusses the basic deductions for business insurance premiums.
The Wash Sale Rule
The wash sale rule prohibits investors from claiming a capital loss for tax purposes on an investment if they repurchase the same investment within thirty days of the sale. This article explain the wash sale rule and gives examples of how it works.
Office-in-Home Tax Deductions - Home Business Use of Your Home
If you qualify, taking deductions for business use of your home can save you money at tax time. But it isn't easy and it isn't without consequences. See why on About.com Home Business.
The Top 10 Personal and Business Insurance Tax Dos and Don'ts
When tax preparation time comes there can be an array of questions about federal tax deductions and what to report as income on your federal tax return. This Insurance Tax Dos and Don'ts list of federal tax tips will hopefully help many with federal tax questions regarding insurance whether on a personal or business level.
Capital Gains Tax Holding Periods
Your capital gains tax rate is largely determined by length of holding period for each of your investments. This article explains the capital gains tax rate for each of the three holding periods the IRS recognizes.
7 Ways to Make Record Management Easy
While most of us consider business record management to be scut work and tend to give it a low priority, good record management not only makes our working lives easier, but can give us real stress relief at tax time. These seven tips will help you make record management easy.
8 Small Business Tax Strategies to Reduce Income Tax
Operate a small business in Canada and think you’re paying too much income tax? Reduce your income tax with these eight small business tax strategies.
Taxes and Freelancing
Tax tips and strategies for freelancers, independent contractors, and self-employed people. There are special circumstances that apply to freelance writers and other creative professions, so I will highlight what you need to know to prepare your taxes and to avoid IRS investigations.
Alternative Minimum Tax
The alternative minimum tax, or AMT, is a second tax system parallel to the regular income tax. The alternative minimum tax adjusts or eliminates certain tax deductions or credits. Your tax may be higher under the alternative minimum tax rules if your income is over the AMT exemption amount.
Avoid Tax Refund Anticipation Loans
Have you filed your taxes and discovered that you will be receiving a refund? If you’re like most people, you probably want to get your hands on that money as soon as possible, but this could be costly. Many tax preparers offer “instant” tax refunds, otherwise known as a tax refund anticipation loan that can give you cash on the spot or within a day or two.
Tax Tips for Gays, Lesbians and Same-Sex Couples
Don't get bogged down in federal and state tax confusion. Here's what gays, lesbians and same-sex couples need to know about filing taxes.
How to Avoid Tax Preparer Fraud
As the federal income tax season gets into full swing, the IRS warns taxpayers to beware of falling victim to paid income tax preparers who file fraudulent tax returns on behalf of their customers.
Cross-Border Telecommuting
Before you leave one country and start telecommuting, find out what the tax implications are.
Capital Gains or Capital Punishment?
Learn why you may have to pay taxes on a losing year do to mutual fund capital gains distributions