Automobile Tax Deduction - Am I Eligible?

Automobile tax deduction, what exactly is this and what kinds of automobiles will qualify you for it. Under federal law in the United States there are two ways to qualify for it. Find out more...

Federal Income Tax Deduction - Give Me The Basics

Federal income tax deduction, you've heard the term before, but what is it exactly? Well, what a federal income tax deduction is a statutory requirement of the United States law. Find out more...

How to Create an Offshore Tax Shelter

Offshore financial centers are often used to run tax shelters. They have little or no taxes, and little or no financial regulations. For example, in the British Virgin Islands, corporations can be formed without the public disclosure of the names of the directors or officers of the corporation. Favorite offshore tax havens include colonial relics such as the Cayman Islands (British), the Dutch Antilles and Curacao (Netherlands).

IRS Continues With Collection Plan

Within two weeks, the IRS will turn over data on 12,500 delinquent taxpayers to three collection agencies. The agencies will handles debts of $25,000 or less, with larger debts pursued by the IRS.

Income Tax Returns

The tax levied on an individual's or corporation's income is known as income tax, which is a direct tax. Individuals are taxed on their total income, taking into account the standard deductions. Corporations or businesses are taxed on their net income, which is the difference between gross receipts and expenditure. Companies would have to pay corporate or corporation tax. Tax is charged on wages, business income and capital gains.

Tax Filing

Tax filing is a stressful and confusing procedure for most people. It becomes a daunting task to successfully and accurately file taxes with the IRS when a large number of exemptions and deductions have to be taken into considerations. There are a lot of questions raised that can cause doubt in the minds of many people when it comes to calculation of income tax. Sometimes, calculating federal and state taxes can prove to be tough. Other issues like residing in one state and working in another can cause confusion related to the place of filing the taxes. Uncertainty regarding the filing of taxes when a family shifts from one locality to another may also arise.

Local Property Taxes In New Jersey - A Primer

The property tax in New Jersey is in fact a local tax. This means that the tax is assessed and collected at the local municipal level for the support of: Schools, municipal and county governments, etc. As a matter of fact the State pays out 48? of every State revenue dollar collected to counties, municipalities and schools in some form of State Aid. In 1961, some 44 years ago, the State paid out only 43? of every State revenue dollar collected. THE LOCAL PROPERTY TAX in New Jersey is a RESIDUAL TAX. A Residual Tax is one which is levied to raise the amount of money required over and above the total revenues available from other sources.

State Tax Refunds

Nearly 67 percent of all taxpayers around the country are entitled to state tax refunds, and the amount of these refunds is worth lining up for. In the state of California, for example, refunds averaged around $760. The average for most other states was about $550 in 2005.

Understanding Tax Deductions for Second Mortgage and Home Equity Loan Interest

Let us take a minute and understand tax deductions for second mortgage and home equity loan interest. Loans secured by subsequent homes (e.g., third or fourth homes) do not qualify. A home, according to the Internal Revenue Service (IRS), must be a house, condominium, cooperative, mobile home, boat, recreational vehicle or similar property that has sleeping, cooking and toilet facilities.

International Tax Lawyers

Income tax is tax paid by individuals on the amount of salary or profit earned and is applicable if the salary of the individual is above a minimum specified limit prescribed by the income tax department. The income calculated for this purpose is normally the money earned within the limits and borders of the United States. However, income tax does not cover the income generated outside the borders of the country. A different kind of tax law is applicable for this kind of income.

Income Tax Refunds

If you are expecting an income tax refund like millions of US taxpayers, read on. The good news is, you will have extra money. The bad news? It will be tough figuring out how to use it.

Business Tax For At Home Enterprise

Knowing the revised tax laws can help a home-based business in filing its business tax.

Tax Refund Estimators

Don’t be in the dark about your taxes. If you are not very good with numbers but would like to get a clear estimate of how much you have to fork over to the government, then use a tax and tax refund estimator. This easy-to-use software will not only make managing your taxes a lot easier, but possibly also save you a lot of money.

Understand IRS Real Estate Auctions

While the IRS will auction off just about anything to satisfy a tax bill, seized real estate gets people excited. Here are the basics of IRS real estate auctions you need to know.

Tax Revenues Lowering Estimated Size of 2006 Federal Deficit

The Congressional Budget Office has lowered the estimated size of the US federal deficit for fiscal year 2006. The decrease in the expected deficit is largely a result of high tax revenues.