When it comes to preparing our taxes, many of us could use some help. The following websites offer guidance and information that may assist you in learning about how to get the most out of filing your returns.
Fairmark.com
www.fairmark.com
Recommended by Forbes.com,...
The Exchangor has a maximum of 180 days from the closing of the relinquished property or the due date of that year’s tax return, whichever occurs first, to acquire the replacement property. This is called the Acquisition Period. The first 45 days of that period is called the Identification...
I see a lot of dumb llc formation mistakes. Maybe more than most people because I occasionally teach a graduate tax class on LLC formation.
Some of the mistakes are made by entrepreneurs and investors trying to save money on accountants and attorney fees. And I guess thats...
The taxes that are withheld from paychecks amount to about 25% of your gross pay (including federal tax, state tax, social security tax and medicare tax). But these taxes that are withheld could be working for you as investments if you employ what I call the ultimate tax strategy. This tax...
Lets all sing a new version to the tune of the 60s sitcom Gilligans Island
Just sit right back and you’ll hear a tale, a tale of mishandled use; that started with our nations past to form a fiscal noose. The tax was a mighty hurtin vice, our wallets paid the price; working hard...
The Skinny on 1031 Exchange: Maximizing Profits by Minimizing your Tax Liability
A 1031 exchange refers to Section 1.1031 of the Internal Revenue Code which was passed in 1990. Normally, when you sell all real and personal property, the tax code requires the payment of the Capital Gains...
The County Tax Collector is as independent government agency and is elected for a four-year term in the Presidential election year. It is essential that a County Tax Collector is independent to ensure that it can serve the taxpayers, local businesses and local and state agencies correctly....
Many people are confused about the purpose of accountants given tax software and so on. To get the biggest benefit for the fees you pay, you need to understand what your accountant can do.
The Purpose of Your Accountant
An accountant is a licensed profession who has gone to hell...
Why Tax Loop Holes Must Exist
A long long time a go, in a country far far away, in China to be exact, there was a hunter that put nets in 4 sides of the forest. The hunter wanted to catch all animals. Then a king passed by. He said, Remove the nets in the 3 sides of the forest. Let the...
An IRS levy is an order from the Internal Revenue Security directing TVA to withhold a specified amount of an employees pay to satisfy a tax debt. If the IRS determines that we owe back tax then it may issue an IRS levy requiring the deductions from the pay till the back taxes are paid. They may...
The IRS recently met its match in the form of Mother Nature. Yes, the massive flooding in Washington, D.C., took out the IRS headquarters.
The IRS vs Mother Nature
As you know, Washington, D.C. suffered through some serious flooding problems recently. The headquarters of the IRS...
The Internal Revenue Service wants you to pay taxes on time. That being said, it understands this is not always possible and has created a program for such situations.
The IRS Solution If You Cannot Pay Your Taxes
The Internal Revenue Service is very upfront about its goal in...