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.

Calculating Depreciation For Your Investments

Analyzing real estate investments? Trying to understand the tax benefits of equipment depreciation? Make sure you tap Microsoft Excel's depreciation functions...

Treasury Department Report Supports Permanent Tax Relief

According to a new analysis of the Bush's tax cuts by the Treasury Department, making certain cuts permanent will boost America's economy for the long-term.

Convert to Roth IRA Regardless of Income – 2010

An odd quirk in the recent legislation to extend the Bush Tax Cuts is giving IRA holders a huge break. For one year, and one year only, the income cap will be gone.

Internet Banking Could Help With Your Tax Retuns

One of the most useful things about Internet banking is that once you have your account information on your computer, you can export it into financial programs such as Microsoft Money and Quicken, to better manage your various household accounts

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 Issues Tax Credit Amounts For GM Trucks

As 2006 rolls along, the IRS is in the process of issuing tax credit amounts to particular hybrid vehicles. The agency has just issued the amounts for a number of GM vehicles.

Major Changes to IRS Tax Settlement Rules

In recent years, the IRS has made a concerted effort to get people back into good status by reaching deals on overdue taxes. The rules affecting this program have just changed dramatically.

You Are Paying More Income Tax Than You Are Legally Obligated To Pay!

If you are a business owner or highly compensated person, you are paying more income tax than you are legally obligated to pay. By using a tax savings corporation, you could keep thousands of dollars to invest for retirement, pay medical bills, or other business expenses.

More on IRA Beneficiary Designation Planning

IRS adds new planning consideration for IRA beneficiary designations.

Accounts Receivable Financing for Business Growth and Tax Write Off - What Does It Cost?

Securing the services of an Accounts Receivable Financing Company will allow a small company to bid on almost any contract (government or corporate) within reason. An A/R Transaction provides an automatic Tax Loophole.

Homeowners Deduct Over $9,000 in Mortgage Interest

The average homeowner deducts $9,650 for mortgage interest, according to analysis released on Thursday.

IRS Problems

The IRS, or the Internal Revenue Service, is a tax collection and tax-law enforcement agency that is a part of the US Department of the Treasury. Barring a small minority of intentional tax evaders, most taxpayers pay their taxes punctually, correctly, and honestly. Despite honest intentions, problems do arise. This may be due to incorrect reporting, or incorrect calculations leading to underpayments or overpayments. The IRS does not take these lapses kindly. There are harsh penalties and fines in store for tax evaders and those who have underpaid their taxes.

Discount Furniture

The act of reducing the selling price of consumer goods including furniture is a common process in the present market scenario. While this practice attracts more customers, opting for discount furniture does not mean that quality is being compromised. Discount furniture is in essence, new furniture that is sold at a reduced price because it was damaged during shipping, out-dated style, has minor defects, or something similar. Discount furniture includes products for the bedroom, living room, dining room, kitchen, office and more. It comes in classic and contemporary designs that compliment each and every room in your home.

Buffet Speaks for Retention of Estate Tax

Billionaire Warren Buffet called on U.S. lawmakers to retain the estate tax in a speech on Monday.