One Easy Way to Avoid an IRS Tax Penalty

The IRS loves to pile on all the penalties and interest they can when you owe them money. Once these penalties have been assessed against you, it is very difficult to have them abated. Recently, an IRS Revenue Officer gave me an easy tip that should help many people in the future to avoid - at least some IRS penalties and save you money in the long run.

College Families Will Be Overpaying the IRS – Again!

Families who made their best guess as to which of the Education Tax Incentives would save them the most on their income taxes, have put their 2006 tax returns to bed. However, for many, a sigh of relief is a bit premature. Countless families, even when assisted by professional tax preparers, chose incorrectly and will or have significantly overpaid the IRS – AGAIN!

Form 1040EZ Tax Basics

The 1040EZ tax form is specifically for individuals who meet certain criterion. These individuals may not even know who they are. That's why the form 1040EZ tax basics are so important to understand and know. The following information on the tax form will help you understand better what you need to know.

Democratic Budget - PAYGO EQUALS PAYMORE!!

Since the tax cuts of 2001 and 2003, federal tax receipts have risen above the average of the last forty years. Job growth and worker gains have continued upward through March 2007. Democrats have passed a budget resolution that would let the tax cuts expire in 2010. This will be reckless with the jobs and well being of millions of workers.

Married Couples Beat The Estate Tax

Next to the Alternative Minimum Tax, the Estate Tax is one of the more brutal taxes we have. If you are married, you can get around it.

IRS Says Taxpayers Not Taking Advantage Of Some Tax Benefits

The International Revenue Service has announced that there are 5 refunds, credits or services that many taxpayers are over looking.

The Alternative Minimum Tax, What Can Be Done?

Are you in the alternative minimum tax? Would you like to understand what caused this to happen? Better yet, learn how to cope and engage in effective tax planning that will help you face the alternative minimum tax.

Corporation Tax Benefits

Here is a method business owners are using to gain tax benefits.

Can't Deduct Your Medical Expenses? Oh Happy Day!

Do you ever quietly wish you could take the medical expense deduction on Schedule A? Be careful what you wish for - being able to take the deduction means only one of two things.

Federal Tax Deductions - How To Get More

You already know that claiming more Federal tax deductions is the best way to lower your tax bill. What if I told you that Turbotax online software has a built-in tax deduction maximizer? This Federal tax deduction maximizer will find and determine which tax deductions are best for your situation. Here are just 5 Federal tax deductions the deduction maximizer can help you take full advantage of.

Filing Those 1099 Forms

It’s important for freelance stock photographers to familiarize themselves with the steps they can take to keep their taxes to the legal minimum. Our tax consultant, Julian Block gives expert advice on tax issues like the example below.

Why Use Online Services Such As Tax Brain Online To File Your Tax Returns?

Tax Return Time again. Does this throw you into a panic? Why not consider using an Online Tax Filing Service to take the strain?

TurboTax 2006 Online Deluxe Premier Business & Free Edition Software

An online tax software program such as Turbotax Online 2006, does more than just prepare and file your taxes. It offers advanced tools to help you pay the least amount of tax possible. It also provides an extremely accurate tax return to file with the Internal Revenue Service (IRS). These important tools are something you should be aware of before you begin your taxes.

More Truth About Subchapter S Corporations

As I read other articles regarding subchapter S corporations, I am reminded of their unique nature. I wonder if we give appropriate consideration to making the election to become a S corporation? I wonder how this consideration would change if we knew all of the facts? Consider my thoughts carefully when making your decision to convert to or from the beginning the Subchapter S corporation.

Free Turbo Tax Online Software - How it Works For 2006

Through a partnership between the Internal Revenue Service (IRS) and tax software companies, such as Turbo Tax, lower income taxpayers are able to file their Federal tax returns at no cost. This partnership is known as the the Free File Alliance. If you meet one of 3 of requirements, you can file your Federal tax return for free. Here is a list of those 3 requirements. Remember, you only have to meet one of these to qualify.