Article-Jet

As everyone in the U.S. knows, we have just passed one of our most “favorite” times of the year: income tax season. If you are going to create and sustain wealth, it is inevitable that you will have to address your personal tax situation.

Over 50% of marriages end in divorce in the United States. Many divorce decrees include provisions for the payment of alimony. The IRS takes the position that such payments constitute a form of income and create an alimony tax deduction for the person making payments.

If you receive Social Security benefits did you know that you can have income tax voluntarily withheld from your check? By signing up for Voluntary Tax withholding it could make next year’s tax liability easier to swallow. Here is how it works.

Accounting is the recording, interpretation and reporting of financial transactions. Each and every business must keep proper record of all such transactions. There are several branches of accounting such as financial accounting, managerial accounting and tax accounting.

Sometimes, another writer, upon learning that I’m both a book author and tax accountant, asks me for the best ways that authors can minimize their income taxes.

The United States is a nation of entrepreneurs. There are literally tens of millions of self-employed individuals that enjoy pursuing their dream business. Of course, few of you enjoy the paperwork and confusing tax issues that arise from owning your own business.

One of the largest burdens on very small employers is dealing with taxes. Fortunately, the IRS has taken a major step to reduce this burden.

Quarterly Federal Tax Returns – Not!

The IRS has issued a warning regarding a phishing email scam. The scam claims you are due a tax refund, but is really designed to obtain your personal information.

Tax Refund Email Scam

The Internal Revenue Service has certified the 2006 Toyota Highlander Hybrid as being eligible for the clean-burning fuel deduction. This certification means that taxpayers who purchase one of these hybrid vehicles new during calendar year 2005 may claim a tax deduction of up to $2000 on Form 1040.

The tax code for the United States is over 50,000 pages. Buried in this code is the subject of per diem rates, a topic that can save businesses money on their taxes.

Per Diem Rates and Business Taxes