IRS Offers Free State Sales Tax Deduction Calculator

If you itemize your deductions, you may be in for a windfall on this years tax. Yep, Congress has renewed the optional sales tax deduction. Of course, you have to figure it out.

Tips For Choosing A Tax Return Preparer

For a taxpayer that has decided to choose a tax return preparer, understand the importance of making the right choice. It is a must to choose a tax professional that is qualified and reputable to meet their tax needs. It is the taxpayer that is ultimately responsible for the accuracy of their tax return regardless of who was employed for tax preparation help.

How Much Is That Business In The Window-Do You Know The Worth Of Your Business?

Amazingly enough, as I continue to practice the art of public accounting, I find that many small business owners are unaware of their business' value. They have made no plan for retirement, estate planning, or a possible sale. When a business' value is known, it becomes possible to put a plan in place that will cover just about every possible scenario the small business owner will face.

What State Taxes Can Businesses Deduct

If you run a business, you are looking for as many deductions as possible to knock down the tax you have to pay. Following are some highlights of the taxes you can deduct that are collected by anyone other than the federal government.

What is a Tax Attorney

While many business owners recognize the importance of having a secretary and an accountant at their disposal, few realize the equally significant need of having a personal tax attorney

Practical Tips For Avoiding an IRS Audit

There is not foolproof method of avoiding an IRS audit. It is also not very sensible to not claim the deductions that you are entitled to receive just to lessen your chances of an audit. There are some practical tax tips that you can apply that will reduce your chance of being selected for an audit.

Can These 4 Tax Tips From the IRS Save You Money This April 15th

The much Dreaded April 15th tax filing day is fast approaching. Here are 4 tax tips direct from the IRS that can help save you money and aggravation.

How to Value Your eBay Inventory for Tax Purposes

One of the questions I hear most often from eBay sellers is how to value inventory, especially if it was purchased at a garage sale, or if you used the item before you sold it on eBay. For new items that you purchase for inventory, make sure you keep all of your receipts. In addition, you might want to keep a spreadsheet with a description of the item purchased, date, and the purchase price, including shipping costs.

A Look At Tax Deferral Methods

A look at a few different types of tax deferral methods, and how each works. We take a look at IRAs and a few different 401k plans.

Setting Up Your Business Entity

By choosing the correct entity structure, one is able to receive income tax benefits as well as liability protection. Before you get started in your business venture, read this article and understand all of the important issues in making your entity selection.

How Teenagers Can Give Themselves a 10 Percent Pay Raise

Do you know that if you are still in school, working part time, you may not need to file annual Federal taxes? I am not talking about some kind of tax dodge or cheat or funny scheme. This is simply the rules.

Chances Of Getting An IRS Audit-Near Zero

The chance of getting a random selection audit by the Internal Reveue Service is as close to zero as one can get. Typical triggers of an IRS audit center around their own audit protocols focusing on specific income tax issues. For instance, if you own a subchapter S corporation, chances for an audit are raised as IRS attempts to find out how many of these entities are in compliance with income tax law.

Tax Implications on Personal Injury Settlements

If you have been in an accident, you may require the assistance of Boston personal injury attorneys to help you with your personal injury settlement. These kinds of settlements are good if you need to recover lost wages or need to obtain the right amount of money to pay for the medical bills from your injuries.

Tax Deductions You Might Have Missed

As April 15th draws ever closer, many taxpayers are starting to actively hunt for tax deductions to lower their bill to Uncle Sam. Here are a few that many people miss out on.