Use The Same Techniques The Rich And Famous To Avoid Taxes!
You’ve probably read in the newspapers of various celebrities and successful business who manage to avoid or at least substantially reduce their UK taxes whilst a significant proportion of the general public are paying...
Now, heres a real tax savings to the individual taxpayer with dependents. The child tax credit is a direct federal income tax credit based on the number of dependent children in your family. This federal tax credit is available to provide credit to taxpayers with income below certain...
The line under your income on your pay stub is where these two systems differ. With the uneducated tax system, you deduct the three lines under your income and the remainder is what you receive. With the educated tax system, the first line is your reported income as with the uneducated tax...
Understanding the tax implications of replacing or selling existing life insurance coverage will help shed some light on the options available to financial advisors and policy holders looking to capitalize on the hidden value in their life insurance plans. Policy holders need to know what the...
Marketing is a necessary expense in running practically any business and the IRS acknowledges as much. You may run advertisements on or in the Internet, radio, television, magazines, newspapers and other media to sell your products or services. You should be deducting all of the associated costs...
Property Rental Income for Individuals
UK Rents and licence’s are regarded as UK land and property. Land and property income is all income deriving from such property as if it were a trade. Therefore this is calculated as all income being assessed in the tax year on an...
Although the vast majority of exchanges occurring presently are delayed exchanges, let us briefly explain a few other exchanging alternatives.
Simultaneous Exchange
As mentioned previously, prior to Congress modifying the Internal Revenue Code as to exchanges and formally approving...
One can never underestimate the enthusiasm that politicians have for trying to hunt up tax revenues. The creativity of some politicians can lead to bizarre taxes and unfortunate results.
Taxes on Illegal Drugs
One argument for the legalization of various narcotics is that massive...
Are you paying too much in income taxes? Are you getting all the credits and deductions you are entitled to? Here are 7 tips to help you minimize taxes and keep more in your pocket:
1. Participate in company retirement plans. Every dollar you contribute will reduce your taxable income...
Here are seven ways for owners of small businesses to save money on their taxes.
1. Incorporate Yourself: If you`re still a proprietor or partner of a business, it`s time to incorporate yourself. Not only will you limit your liability, but you may enjoy lower tax rates on small business...
Top 7 Reasons To File Your Income Tax Returns On Time
Here are seven reasons for not being late filing your income tax returns.
1. Avoid Late Filing Penalties
Late filing can result in substantial and continuing penalties. This is in addition to any interest that is...
Tips On How Your Bookkeeper Can Reduce Your Taxes By Hundreds Of Dollars
Standard monthly expenses for your Business are transferred from you to your Tax Professional to be put on your Schedule C. No problem, most people get this part right. Its the thousands of dollars in miscellaneous...