VAT: The Basic Principles

VAT (Value Added Tax) is a sales tax, levied on the expenditure of consumer goods and services and business transactions, which is paid by the consumer at the point of purchase and collected by Her Majesty’s Revenue and Customs (HMRC). First introduced to the UK in 1973, it is now a major source of revenue for the government.

Secrets of Offshore Banking

Discover the secrets of offshore banking and incorporation. Is it legal?

Home Improvements Qualify For Tax Deductions

It is very important that home owners are aware that improvements to their homes will qualify for tax deductions. However, it is critical to understand what qualifies as an improvement, and what is simply considered a repair.

Tax Deduction is Only Possible with Home Improvements, Not Home Repairs

The article details the difference between home repairs and home improvements, in terms of tax deduction. It gives examples of work that would be considered improvements and work that would be considered as repairs.

IRS Issues Proposed Regulations For Tax Treatment Of Private Annuities

The Department of the Treasury and the Internal Revenue Service proposed regulations that would address the tax treatment of an exchange of property for an annuity contract. The proposed regulations would apply the same rule to exchanges for both private annuities and commercial annuities.

IRS Warns Churches It Will Be Watching

The IRS has warned that it will be watching churches closely to make sure that they do not violate tax-exempt regulations. Both liberal and conservative factions have been filing numerous complaints against churches with the IRS.

Read My Article; No Raising Taxes!

May I ask why it is so hard to understand that American citizens don't want higher taxes? The American people do not need higher taxes, as many people are working pretty hard just to get by. If you raise taxes on the American people some people who have bought homes that they could barely get into will not be able to make the mortgage payments and they will be foreclosed on.

Raising Taxes Hurts Individuals and the Consumer

It is a known fact that high taxes in any nation hurt the individual and this is because the government is inefficient compared to businesses in the things that they do and when they tax us, the money they spend is not well spent. If on the other hand taxes are low and the individuals and consumers have more money to spend they are much better with their money and much more efficient.

California Enterprise Zone Tax Credits Have Saved Businesses Millions

Not claiming the California Enterprise Zone Tax Credits can be one of the most costly mistakes they ever make. The program can generate state tax credits for the business of up to $10,000 per qualified employee per year.

Taxes: The Plan Ahead, Not the Look Behind

The word 'taxes' has a negative effect on people. It makes us look away, it upsets us and we make lots of grunting noises. But that's looking at the previous year and preparing for the tax season. What about planning for 2006? Can we actually plan ahead for taxes? Yes, it is possible. It's important to begin our discussion on taxes by knowing what tax changes are taking effect. So I'd thought I'd get you started in the right direction. Here are some of the tax benefits coming your way in 2006 for your 2007 filings.

Not all CPAs and Attorneys Are Knowledgeable on Capital Gains Tax Issues

Does your CPA, Attorney, Financial Advisor or Realtor understand how to help you with your Capital Gains Tax Problem? Many have no idea, but are reluctant to tell you so.

How Are Monies Invested Within a PAT?

Should the funds in a Private Annuity Trust be invested in stocks, bonds, mutual funds, or investments that guarantee the principle. Is this a place to aim for a home run, or to insure that you will get the payments you are promised?

Study Shows Volunteer Tax Preparers Are Often Wrong

If you ask a volunteer to help you prepare your tax return, you are risking errors in your return.

U.S. Federal Income Tax: Self Employment & Paying Self Employment Tax

As a regular employee of a company, you are required by the Internal Revenue Service to have withheld from you earnings FICA (Federal Insurance Contributions Act) and Medicare taxes. FICA is also known as the Social Security tax. You pay these taxes into the government and they are used for retired, unemployed, and disabled Americans and their dependants in the form of Social Security payments and Medicare benefits. The Self Employment (SE) Tax is similar to these aforementioned taxes except that they are for self employed individuals and are imposed on self employed earnings. It allows those who are self employed to be eligible for these benefits later in life, just as an employee is.

How Can I Qualify For A Mortgage Tax Deduction?

When buying a home there are many tax benefits you can take advantage of, including a mortgage tax deduction. Besides a real estate deduction, a mortgage tax deduction can be a great benefit. Find out more...