A Winning Marketing Plan for Tax Planning

Integrating tax planning into your financial planning practice may help grow your business, but it must be marketed effectively and consistently. The key elements in developing a winning marketing plan are positioning and using the basic communication channels.

Tax Incentives for Saving for Education

Recent statistics show Americans are simply not saving money for the future. To encourage savings, the government has come up with tax incentives.

Taxation of the Sale of Your Home

Most home sellers are very excited on closing day. They anticipate seeing a very large check, usually the largest check they will see for any type of possession or investment they have sold. But, come the following April 15th, they should be asking their accountant whether there are any taxes that must be paid on the profit.

Start-up Costs - How to Deduct Them

A new business incurs start-up costs before beginning the active conduct of a business. How may a business owner deduct start-up costs? The rules changed for start-up costs paid or incurred after October 22, 2004, as a result of the American Jobs Creation Act of 2004. This article explains these rules.

Money The Government Wants Your Tax Client To Have

Earned Income Tax Credit or EITC as the Internal Revenue calls it is a special tax credit the U.S. government has provided for low income and moderate income individuals. Another way of putting it is, it's money the government is giving your low-income wage earner tax clients, as a bonus for working hard for a low wage.

Minimizing the Income Tax on the Receipt of Lump-Sum Social Security Benefits

Taxpayers who receive Social Security benefits in one lump sum might have to pay taxes on up to 85 percent of those benefits. This article explains to how minimize the income tax burden from the receipt of lump-sum Social Security benefits by making the proper election under Section 86(e) of the Internal Revenue Code.

Saving Taxes Offshore

On how opening an offshore savings account has little value by itself but as part of an overall asset protection structure can provide safety and peace of mind.

Save Taxes Using the Section 179 Deduction

The Section 179 deduction is one of the best deductions in all of the Internal Revenue Code. A business may deduct up to $108,000 of business equipment, furniture, machinery, and off-the-shelf computer software that the business purchases and places in service in 2006. Some limitations and special rules apply. The Section 179 deduction also saves self-employment tax for self-employed individuals.

Royalty Tax Payments in Franchising Agreements

As many government agencies attempt to collect more tax revenue some have decided to tax royalty payments of franchisors who have franchise outlets within their jurisdictions.

Save Taxes with a Health Savings Account

Many taxpayers receive no tax benefit from their medical expenses because the total medical expenses must exceed 7.5 percent of their adjusted gross income to provide any benefit. A health savings account is a good way to plan around this limitation. This article explains the tax benefits of a health savings account.

Hybrid Rebate for 2006 Tax Credit for Hybrid Cars

New tax credit that replaces the 2005 tax deduction for Hybrid Motor Vehicles is potentially much more valuable. So if you waited to buy one of those environmentally friendly cars your procrastination has paid off.

2005 Child Tax Credit Good News for Parents

The Child Tax Credit provides a welcome tax break for many families. What makes the credit so nice is that it isn't a deduction from your taxable income, it is an actual reduction of your taxable income.

What To Do If You Didn't Get a W-2

If you worked in a salaried position during 2005, your employer should issue you a W-2 form for your tax reporting. So, what if you haven’t received one?

IRS Holding $2 Billion In Unclaimed Tax Refunds

Every year, the IRS announces that it is holding unclaimed tax refunds. Taxpayers have a limited time to claim the $2 billion dollars the IRS is currently holding.

Tax Pitfalls For An Internet Newbie

For those of us new to the Internet, here are some pointers on IRS audits and how vulnerable we are in our naivete.Culled from recent field audit experience!