If You Own a Business, You must Pay Payroll Taxes
As an employer, you must pay payroll taxes; there is no way around it. It is your responsibility to make all payroll tax deposits. The Internal Revenue Service has been cracking down on payroll tax...
View ArticlePaying Overdue Taxes to the IRS
If you owe overdue taxes to the IRS you cannot ignore paying them. Interest, fines, and penalties accrue from April 16 until the full debt is resolved. If you owe, you need to pay as soon as you...
View ArticleTypes of IRS Tax Appeals
When the Internal Revenue Service move in on you personally or has targeted your business, the results can destroy you. The IRS has tremendous power to use on you. In their arsenal, the IRS can impose...
View ArticleOrganize Your Income Tax Records neatly
Before even beginning to organize your tax records, be aware that the Internal Revenue Service recommends hanging on to them for three to seven years, depending on your personal situation. There are...
View ArticlePayroll Taxes Gone Bad
The IRS is particularly watchful of small businesses and payroll taxes. In the past, many small businesses thought they could get away with ignoring such taxes more easily than the big businesses. The...
View ArticleHow to Hire a Tax Professional for Your Small Business
If you own a business, you should not be doing the tax preparations yourself. Preparing an income tax return can be frustrating and confusing. Luckily, you have the option of choosing a professional to...
View ArticleWhy You Need to File Back Taxes
If you earned $8900 as a single individual or about $17,800 as a married couple in the calendar year, you have to file an income tax return. If you had enough withholding, you may not need to pay the...
View ArticleSolve Your Back Tax Troubles
If you earned money in the calendar year, you have to file an income tax return. If you had enough withholding, you may not need to pay the IRS anything. However, if you owe, you need to pay as soon as...
View ArticleTaxes and Winnings From Gambling
The Internal Revenue Service just can't stay out of your pockets, even when you are taking risks to earn. In fact, the IRS believes it is entitled to your winnings if you have good luck worth $600 or...
View ArticleFundamentals of Rollover IRA
Switching a job is quite regular these days, be it due to a better opportunity in a different company or even because of a job loss. In any case, if there is a change in employment, the rollover IRA...
View ArticleLowering the Impact of the Alternative Minimum Tax
Two things strongly factor into the formula for the Alternative Minimum Tax. One is the type of investments you have. Some investments figure more consequentially in the Alternative Minimum Tax....
View ArticleWill Bankruptcy Solve my IRS Tax Debt Problems?
The answer to that question is - most likely, not. First of all, bankruptcy is a very serious thing and you must not enter into the decision to file bankruptcy lightly. Bankruptcy has long-term...
View ArticleBeing generous throughout the year may not hurt at tax time!
If you want to gift someone, do not worry about taxes. There are effective strategies available. Right now, if you are giving a gift, your threshold is $12,000 to any one recipient. That's pretty...
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