By Chintamani Abhyankar
One of the best reasons to start up a business from home are the extra tax deductions. If you are working a steady job outside of the home or if you have recently been laid off or have become unemployed, right now is an ideal time to begin a home based business [...]
By Chintamani Abhyankar
Being self-employed can make tax preparation difficult. There is an abundance of tax credits and deductions available to you, but only if you qualify. So, be aware of the opportunities and pitfalls when filing a tax return as a self-employed individual.
• Use good bookkeeping software like Quicken to keep electronic track of your [...]
By Byrne Hobart
Income taxes are one of many ways to collect taxes, but they’re among the most controversial. Income taxes were first instituted in 1862, to help pay for the Civil War. At the time, the minimum income to pay income tax was $600 per year. That miminum income to pay income tax is equivalent [...]
By David Vanbergen
Every year, thousands of people give their money to Uncle Sam needlessly. Don’t be one of those unfortunate souls who fail to get the money that the government owes just because you want an easy tax return. Stay with me for a minute and I will help you figure out if you can [...]
By Mark Wyssbrod
A lot of taxpayers are unaware of some simple tax deduction which they may benefit from. Of course, the tax code ends up being more complicated than we would like. How can a taxpayer know if they can claim someone as a dependent on their tax return?
The Internal Revenue Service provides a guideline [...]
By David Vanbergen
If you are looking for a simple way to figure out how much taxes you have to pay on your income, you have come to the right place. With a glance at the 2008 Federal Tax Tables, you can see how much taxes are owed on your taxable income depending on your filing [...]
By Frank W Ellis
Are you wondering how much money you’ll get back on income tax this year? Are bills piling up, or are you thinking about a spring vacation to a warm beach?
Whether you use income tax refund money to pay bills or go on a vacation, you have the opportunity to know how much [...]
By Rich Muir
Working from home is an option that the Internet has given many workers. Whether they are running their own business from home or working off-site for an employer, the flexibility is attractive for many people.
When running your own company from home, you may not be allowed to deduct expenses you incur at [...]
By Sharon De Hinojosa
If you’re an American citizen living overseas, you still have to file taxes. Although you may not owe Uncle Sam any money, by law you need to file. It’s a pretty straight forward process and if you fulfill simple requirements, you can be exempt for taxes up to $80,000 every year by [...]
By Scott C Turner
Hire your kids instead of paying them an allowance!
It is quite common to see children actively involved in the family business. Even young children can perform valuable services. Many business owners, however, miss out on the major tax savings generated by actually hiring their children and paying them a fair wage for [...]