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Small Businesses Filing Amended Federal Tax Returns to Recover Money


Small Businesses Filing Amended Federal Tax Returns to Recover Money By Darren Oliver April 15th may be gone but, but certainly not forgotten - especially if you, like millions of small businesses, unknowingly overpaid your federal taxes and can recover money by filing an amended return. According to the IRS tax code, you have three years from the filing date for the tax year in question to file an amended return.

Alas! In E-Commerce Taxland


In trying to comply with tax laws for your e-business, you may find yourself falling down the rabbit-hole, going through the looking glass, and attending a Mad Tea-Party.Common sense, logic, and fairness never did apply fully to the field of taxation but this is especially true of e-commerce transactions.
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Rearrange Your Affairs For Maximum Tax Savings


One way to maximize your business profits is by reducing your taxes. Frequently, income and other taxes could be lowered significantly if only the taxpayer were willing to plan ahead.

Organizing Your Taxes


Does this scene sound familiar? It's April 7. You haven't seen the top of your dining room table in two weeks because of the piles of paid bills, receipts, canceled checks, and unidentified cash register receipts covering it.

Seven Key Tax Deductions for the Self Employed


As a sole proprietor, it's wise to familiarize yourself with the some key deductions that may reduce your tax bill for 2004.Small-business consultants generally recommend that you hire an accountant to prepare your tax returns, payroll and financial statements.

How To Set Up A Tax-Saving Bookkeeping System


One of the most important, but least understood or appreciated aspects of any business is its bookkeeping or accounting system. And, because very few people know much about the reasons for a bookkeeping system, most people are frightened by the thought of the work involved in setting up such a system, and the drudgery of daily maintenance.

Knock-Knock-Knock


Knock-Knock-KnockWho's there?The IRS!The next quarterly payment of estimated income tax for the self-employed is not far off. Network marketers who receive a form 1099 at the end of the year, and/or who are expected to owe $1,000 or more in taxes, must file a form 1040-ES Payment Voucher quarterly to avoid paying a penalty.

How to Reduce the Estate Tax Using the A-B Revocable Living Trust


In a past article I relayed the plight of the widow who stated:"I didn't realize what an A-B Revocable Living Trust meant and that it had to be divided between the survivor and the deceased spouse and that I am limited as to what I can use from his share."She told me that she only learned of this after her husband passed away.

Keeping Your Own Money - NOT Handing It Over To The Taxman


Most people trying to make a crust online (or offline for that matter) are so focused on doing just that, they ignore taking simple steps to ensure that they hang on to just as much of it as they can. Instead, they hand over large lumps of their hard-earned money in tax, usually in one of two mistaken beliefs.

Tax Reform, My Way


We need real tax reform and we need it now. Previous attempts have been made at tax reform, but they have only provided band-aid solutions that have still left us with too many quirks, complication, and read tape.

Surprising Truths About Tax Preparers


Choosing the right tax preparer for your business is a decision best not left until April. A former tax preparer and small business mastermind offers insights into the secret world of tax preparers.

Navigating The Internet Sales Tax Laws


QUESTION: I have been contacted by my local city government to say that my business is scheduled to be audited to determine if I owe any sales tax from items purchased on the Internet. Can they really make me pay this tax? I thought you could buy things online tax free? -- Katie R.

Home Based Business Tax Deductions


Running a home based business reaps many wonderful tax deductions that other businesses some times may not claim. Unfortunately to many small business owners end up paying the government taxes every year because they are unaware or several small business deductions that are available.

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TAX NEWS



The Missoulian

Major piece of budget – taxes – still up in the air
The Missoulian
“I've made it clear I personally am not supporting any kind of taxes. I look at the governor's race where we had two candidates trying to see who could hang a sales tax around whose neck the fastest,” Knudsen said. “And here we are talking about sales ...

and more »


CBS News

Don't lose your passport over unpaid back taxes
CBS News
The IRS is about to step up its game to collect back taxes. Under a new law, the Fixing America's Surface Transportation Act, or FAST Act, the IRS is required to provide a list of people who owe back taxes to the U.S. State Department, which can deny ...

and more »


GOP tax plans could eliminate popular tax breaks
ABC News
When Republicans say they want to lower taxes and get rid of loopholes to make up the lost revenue, they're talking about eliminating some very popular tax breaks enjoyed by millions of people. That's why making big changes to tax laws is so hard ...

and more »


NJ.com

30 towns with the highest property taxes in NJ
NJ.com
This Monmouth County oceanfront borough kicks off the countdown with a $15,377 average tax bill. But homes here are valued at an average of $2.2 million, the second highest on our list of the 30 towns with the highest property taxes. And Deal has one ...

and more »


What popular tax breaks are at risk if GOP overhauls taxes?
ABC News
When Republicans say they want to lower taxes and get rid of loopholes to make up the lost revenue, they're talking about eliminating some very popular tax breaks enjoyed by millions of people. That's why making big changes to tax laws is so hard ...

and more »


Business Insider

Here's who would lose money under Trump's proposed tax plan
Business Insider
That loss of income becomes starker with each child added to the picture. A single parent with three children is looking at over $10,000 in lost deductions under Trump's plan. Whereas they used to get a $25,000 tax break, under the proposed plan the ...

and more »


Washington Times

Pleading poverty, demanding new taxes
Washington Times
Stop me if you've heard this story before. Governors and state legislators are pleading poverty again and they are demanding tax hikes of every imaginable kind. More than half the states are facing big deficits this year and they are mostly blue states ...

and more »


Philly.com

Owe Uncle Sam $50K in taxes? You may lose your passport
Philly.com
Americans who owe more than $50,000 in federal tax debt can lose their passports under a new federal law. In 2015, Congress passed legislation allowing the State Department to revoke or deny passports to those with “seriously delinquent tax debt," ...



NPR

Here's What To Watch For When Trump Addresses Congress
NPR
Donald Trump is not a policy wonk, so don't expect him to talk specifics about health care or tax reform or infrastructure. But these big set speeches to Congress are about policy guidance, and Republicans want to know where he stands on their big ...
Trump speech could detail economic plan, tax cutsUSA TODAY

all 219 news articles »


CNBC

Buffett: 'It's going to be very, very tough' for Republicans to pass revolutionary tax reform
CNBC
Republicans will likely have trouble passing comprehensive, complex tax reform by August, billionaire investor Warren Buffett told CNBC on Monday. Buffett said getting tax reform done quickly will be a bigger priority than delivering a significant ...

and more »

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