Does Tax Season get you down? Here are 4 simple steps that any small business owner can take to lower your tax bill this year.
STEP #1: Understand How Serious Your Tax Problem Is. Are you aware of just how much in taxes you are paying? Here’s how much the average family spends on various […]
Car donation programs are a fund raising tool used by non-profit organizations; they resell donated cars and use the profit to further their charitable causes. You may feel inclined to give your automobile to a cause like this, but even when you have the best intentions you need to make sure the organization is a […]
Property taxes are decided collectively by school boards, town boards, legislators, and councils. The tax rate is set by collating the amount of funds an area needs. This is then divided that by the “total taxable” assessed value of the area. The tax an individual pays is computed by multiplying the tax rate by the […]
You don’t want to mess with the Internal Revenue Service. One small mix-up when handling your finances can cost you big.
For example, in recent years the IRS has increased its filing of levies, liens and wage garnishments. In fact, in 2004 alone, approximately 2.5 million levies were filed.
The experts at JK Harris & Co., one […]
For many business owners the answer to this quandary is tax preparation software. Fill out a fairly simple interview, click “print” and out comes a completed return that will pass muster with the IRS. The answer to all your problems…or is it?
Can One Software Program Cover All Businesses?
Take a moment to consider the wide range […]
Getting a tax notice from the IRS is not a matter to take lightly. If you cannot pay in full, you should send in as much as you can with the notice. The unpaid balance is subject to interest compounded daily and a monthly late payment penalty. It is in your best interest to […]
You may qualify for the Earned Income Tax Credit, or EITC, if you worked last year, but did not earn a lot of money.
EITC is a refundable tax credit meaning you could qualify for a tax refund even if you did not have federal income tax withheld. The IRS defines the Earned Income Tax Credit […]
I have previously written articles discussing various aspects of transaction structures to minimize taxes. As a result, I am often contacted by a panicked seller that is a week from closing his business sale as he looks in disbelief at his accountant’s spreadsheet detailing the tax burden of his impending sale. By the time he […]
You can donate a used car to charity - truck or other vehicle and get a good tax deduction or tax write-off. Most charities will want used cars to truck that are drivable, however there are a few that will accept used cars with minor repairs or cars that won’t entail a lot of […]
Most contractor accountants should be very well informed about IR35, and they will be up to date with all the current legislation.
IR35 is legislation that is contained in Chapter 8 of ITEPA 2003 that says that if a worker who is supplying a service personally is a disguised employee of the client then the worker […]