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Taxes : Business & Finance

How to Calculate IRS Individual Federal Withholding

The federal government requires that people make payments to be applied to their income tax bill throughout the year rather than just making one payment when income taxes are filed. If you work as an employee, your company will withhold money from your paycheck throughout the year to satisfy this re

Qualities to Look for in a Tax Resolution Company

There are a number of companies in this country, including law firms such as Roni Deutch, A Professional Tax Corporation, that offer IRS tax debt resolution services. However, before you reach out to a company ...

How to Avoid the Underpayment Tax Penalty

The U.S. employs a mostly progressive tax system which requires that taxpayers pay tax as they earn income. Those who do not pay the full amount of tax owed on or before the deadline are usually assessed an underpayment of tax penalty by the Internal Revenue Service (IRS). Fortunately, there are st

USA Import Taxes

Countries often charge duties, or "tariffs," on goods, a type of tax on products entering or exiting a country. The U.S. charges relatively low import taxes on most goods, averaging around 2 to 10 percent of the amount paid for the import. The tax depends on exactly what the import is; rates are lis

W-4 Form Explained: Is This for an Annuity?

When you receive income during retirement, you're normally going to pay income tax on at least some of this money. Two sources of income you might have are pension and annuity income. This income is reported to the IRS. However, you should understand how this process works and what form you need so

What Is a Certificate of Occupancy for First Time Home Buyers?

If you're purchasing a newly constructed home, one of the documents you'll need prior to closing is a certificate of occupancy (CO). A certificate of occupancy is not only required by your local government, your mortgage company also requires it. If you plan to claim the first-time homebuyer tax cre

Is Renting a Room an Investment for Income Taxes & the IRS?

Renting a room in a home must be properly reported on your tax return. Keep good records of all household expenses so that you may properly deduct those that apply to your rental. In order to properly take deductions for the room you are renting, you should approach expenses for that room as if it

Simple Online Accounting- Dealing With Stranger Risk

Many business relationships are affected negatively by firms not having correct records. Misconstrued records cause inaccurate budgets, poor buying selections, unsound gross margins, inaccurate monetary statements, and quite presumably cheques being issued for which there's no cash in the bank.

What Proof Do You Need to Claim Mileage on Your Taxes?

The Internal Revenue Service is the federal agency that is charged with collecting personal income taxes. The IRS considers all income to be taxable income unless it is specifically exempt from taxation by law or regulation. Individual taxpayers can legally reduce their income tax obligations by ded

What Is Alcohol Tax?

Alcohol taxes are placed on all alcoholic beverages, ranging from beer and wine to hard liquor. There are two taxes -- a state alcohol tax and a federal excise tax. The tax is used in a variety of ways, ranging from helping those who struggle with problems relating to alcohol to anti-drunk driving c

Grants for Novelists

For every best-selling novelist, a couple of dozen writers are struggling to pay the rent. If starving in a garret doesn't appeal to you, one alternative is to secure a grant to support you while you write. Apply for a grant from a literary fellowship or an arts council and, if you're approved, you

Filing Taxes As a Business Owner

If you're a business owner you have more than the quality of your services and your staff to worry about although these are legitimate concerns. You'll also have to make sure that your taxes are prepared properly to avoid legal problems with the IRS and your state's treasury departmen

Procedure for Filing an Income Tax Return

Filing your income tax return each year is an important and mandatory part of living in the United States. Despite the frequency and visibility of filing income tax returns, there continues to be questions about how to file income tax returns. The procedure involves gathering the correct tax documen

How Are Bonds Taxed Upon Death

Question: My grandmother, recently deceased, left E, EE, & HH bonds to me, my sister, and mother. The total is approximately $600,000, under the limit to be taxed. However, there is substantial interest accrued on the bonds. What would be the best way to distribute these? Should we have them changed

What Happens If You Don't Pay Your Property Taxes & You Have a Mortgage?

If you own a home chances are that you also have to pay real estate taxes. Home ownership and property taxes are two obligations that are closely intertwined. If you owe money on the house, you must also factor your home mortgage into the equation. Learn what can happen if you do not pay property ta

Real Estate Prices Snowball 2007 For Winter Tax Paradise

Micro State tax haven Andorra saw one of the sharpest property price rises in Europe in 2005 with a 19 per cent increase.This has been sustained with another high leap in prices in 2006, this time of 16 per cent.2007 could see another double digit property price rise for the small Pyrenees tax haven

How to Apply for a Employer Identification Number (EIN)

If you need to get an Employer Identification Number for your business you can apply in any of the following ways: Apply Online - Companies can apply for their EIN number by using the EIN online service. Customers simply need to go to the EIN online website and fill out all the required fields on t

Tax Deductions for Interstate Truck Operators

Claiming deductions on your tax return could result in less tax liability or even a bigger refund check. Most people aren't even aware of valuable tax deductions that they could potentially write off. Among the most commonly overlooked tax deductions are work related expenses. No matter what your pr

Am I Self-Employed? Determining Employment Status in the UK

Determining employment status in the UK has become a very tricky subject in recent years. This is especially true for those contractors who are in business for themselves. We aim to clear up some of the confusion by helping to explain the factors HMRC take into account when judging employment status