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Taxes : Business & Finance

My Ex-Husband Owes Taxes From a Previous Year: Do I Owe Too If We Filed Joint?

One of the financial benefits of marriage is that you can file a joint return with your husband and take advantage of lower tax rates on your combined income and a larger standard deduction. On the other hand, you will be responsible for any unpaid tax liabilities that either of you incur during the

Tax Incentives to Own a Rental Property

If you own rental property, you may qualify to take a number of additional deductions specifically, for landlords. In our new deduction of the week entry we decided to take a look at some of ...

Can I Claim an Older Disabled Relative on My Tax Return as a Dependent?

The IRS allows you to claim an older person as your dependent provided you satisfy all requirements of the qualifying child or relative rules. However, it’s less difficult to satisfy the requirements when claiming a disabled relative since the tax law provides some exceptions for these individ

More Ways to Get Your Money - Valuation of Textiles and Apparel From China

In a differentiation effort and a true desire to inform and educate, I will try to not constantly reiterate and rant and rave about the same things all the conservative writers are ranting about. I am going to be reporting and commenting to you on items before and being considered by Congress that y

UBS and The IRS - What's Next

U.S. Taxpayers with UBS accounts face civil tax audit risk. If UBS transfers account information to U.S. Taxpayers (as proposed) the IRS may then commence a civil tax audit (under a 6 year statute of

Avoiding an IRS Audit on a Schedule C Form

Running your own business is great, but if you file a Schedule C with your tax return you might as well have a big red sticker on your tax return that says come audit me. So anytime you file a schedule C learn how to avoid being audited by the IRS.

The Difference Between Tangible & Intangible Personal Property

Personal property is anything you own other than land and buildings. Land and buildings are called real property or real estate. You can own tangible personal property and intangible personal property. Both types of property have economic value expressed in dollars. Both types of property can be use

List of Tax Deductibles - The Basics

One of the most dreaded times of the year. Filing your income taxes can be one of the hardest thing an individual can do. Gathering all the information before sitting down and getting started or heading out the door to get your taxes done can save time and money. One of the things that you may want

Are Work Boots Tax Deductible?

If you itemize your deductions and are responsible for job expenses that equal more than two percent of your adjusted gross income, the amount might be reportable on Schedule A of Form 1040. Schedule A is a form used to calculate the amount of an individual's itemized deductions. Each taxpayer is al

Can We Switch Between Married Filing Jointly and Separate?

Married couples have the option to file a joint tax return or separate tax returns. In general, a joint return results in lower overall tax and provides tax benefits not available to other filing statuses. Separate returns, however, limit your income tax liability to the tax and penalties from your

Taxes 101 - How Things Work

Taxes are going to be an important economic issue in the upcoming congressional switch. Many races are going to be very close with the control of the house and possibly the senate up for grabs. Some members of both groups are working to move their agenda ahead so that they are able to end the terrib

What You Want To Know About Voluntary Disclosure

Such pre-emptive Voluntary Disclosure and negotiations have to be handled by a qualified Offshore tax lawyers, experienced in foreign compliance and delicate Internal Revenue Service negotiations.

Donating a Car in Maryland

Donating a car to a charity might seem like a simple process in Maryland based on signs you see on the side of the road. It is relatively simple, but there are certain steps you must follow. If you fail to follow these steps the car might not ever be officially transferred. This could result in you

How Early Can You File Federal Tax Returns?

People anticipating a tax refund may wish to file their federal income taxes as early as possible. You can file as soon as you have all the necessary documents. For most people, this occurs by late January or early February. There are several ways to expedite your return or gain immediate access to

Can the IRS Check Your Credit Report When You're Audited?

Filing income tax returns can be a complicated and time-consuming endeavor. If a taxpayer's return is audited by the IRS, there are certain things consumers should know about the data the IRS uses in a tax audit.

Quick Tax Checklist

Whether you file your taxes online or by paper, being prepared will make it go much forms image by Chad McDermott from Fotolia.comFiling taxes can seem overwhelming and is often confusing. Being prepared before you start is essential to making the process go smoothly. If you...

The Enlistment Requirements for Back Taxes

Soldiers enlisted in the military may get a waiver on back taxes under some circumstances.a soldier on exercise image by Pavel Bernshtam from Fotolia.comBack taxes are owed to the U.S. Internal Revenue Service if you failed to pay enough tax in years past. People who are enlisted in the...

General Tax Questions

General tax questions that might be encountered include "Did the IRS get my check?"tax forms image by Chad McDermott from Fotolia.comSome people consider taxes the bane of their existence, as tax time can be one of the most stressful periods of the year. Given the complexity of filing...