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.

Class-action Lawsuit Filed Over Bush Tax Refund Program

According to lawyers, millions of small businesses and low-income taxpayers will be excluded from a Bush administration tax refund program.

Three Property Tax Policy Options For New Jersey

Here are three property tax policy options for New Jersey citizens and government leaders to consider. They are presented in an easy to read format; namely the statement of a problem that property taxpayer's face in New Jersey, followed by a policy option and its principal pro and con argument. Counting the number of tax lien foreclosure collections on residential properties, particularly those of senior citizens and disabled, could be used to argue for a moritorium on homeowner property tax foreclosure. Permit, through a voter referendum process, the local voters of a school district, to replace real property taxes imposed for school purposes with a local tax on the income of individuals, estates, trusts, corporations and unincorporated businesses. requiring each municipal tax collector to include in the annual mailing of individual tax bills each year tax year a statement containing a tabulation in a columnar format with explanatory information of the effect of State aid on local tax rates by purpose of tax based on a report sent to each tax collector by the State Treasurer.

US Senate Passes Pension Legislation

A major overhaul of US pension legislation passed the Senate last week and has been sent to the President for final approval.

Proper Use of Payment Plans with the IRS

Everyone runs into financial problems from time to time. If this translates into tax problems, you need to know the how to best use installment plans.

How To File Offer In Compromise

IRS provides a package for filing an offer in compromise. The package includes the latest version of form 656, forms 433-A and 433-B. This package helps lessen the hassles of the complicated procedures of an application.

Employer Cash Incentives To Employees For Hybrids

Many companies offer their employees cash incentives to undertake certain actions such as buying a hybrid car. It is important to remember that such situations have tax consequences

Tax Deferral Power and Protection

What is a Tax-Deferred Annuity? A tax-deferred annuity is a contract between you and the insurance company with guaranteed interest and guaranteed annuity income options. There are no upfront sales charges or administrative fees during the life of your contract.

Overview of the Almighty Tax Deduction for Small Businesses

Taxes are the great bane of most businesses. Alas, tax deductions act as a salve to cool the burning and itching of your bank account.

Health Savings Account

A health savings account is a tax-free savings account similar to an individual retirement account. It is designed specifically to pay for medical expenses. These expenses are wholly tax-deductible for self-employed account holders. Cash from these accounts can be withdrawn effortlessly by using a check or debit card. It facilitates payment of routine medical expenditures with tax-free money.

Tax Advantages for Mortgage Loan Interest

When consumers purchase a home, the mortgage interest deduction and real estate tax deduction puts them above the standard yearly deduction allocated by the IRS, allowing them to deduct other expenses such as cash donations to your church, clothes you donated to charity, state and local income taxes, even tax preparation fees. In fact, the home mortgage deduction is on the rise, from about $20 billion in 1981 to $38.8 billion in 2002 to nearly $70 billion in 2003, according to estimates from the Joint Committee on Taxation.

IRS Approves Saturn Vue Green Line for Tax Credit

The IRS is working its way through various automobiles that qualify their owners for tax credits. The Saturn model of cars has just been reviewed with one particular model being approved.

The Tax Payer as Gilligan

This article introduces a correlation between government overspending and how it may encourage inflation. It is a call to action for investors to factor in inflation-adjusted numbers with their retirement projections.

More on IRA Beneficiary Designation Planning

IRS adds new planning consideration for IRA beneficiary designations.

1031 Exchange Info Guide 101

A smart tax saving tool that is gaining popularity among the real estate investors by enabling them to defer the entire capital gains tax is 1031 Exchange.