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Home Business Tax Deductions

If you are running a home business, it is important to remember that there are tax deductions for you when tax season rolls around. Of course, you do not want to try to fool the IRS (no one wants to run the risk of being audited!), but you do want[…]

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What Donations to Claim as Tax Deductions

The IRS recognizes the importance of donating to charitable organizations and allows taxpayers to report certain charitable contributions as itemized deductions, but which gifts are tax deductible and what kind of records are needed in order to claim a deduction? Contributions made to qualified organizations that are religious, charitable, educational,[…]

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Tax Implications for Self-Employed Consultants

Picking up a second job to supplement household income in a tough economy is becoming more common.  Many Americans are choosing to become consultants that visit homes to sell make-up, jewelry, candles, kitchen utensils, and food products.  Some may not realize the tax implications of becoming a sole proprietor and what they[…]

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IRS Warns of Likely Delays in Tax Refunds, Potential Shutdowns of Agency

CATHY MCKITRICK, STANDARD-EXAMINER, OGDEN, UTAH ON DEC 25, 2014 Dec. 22–OGDEN — The head of the U.S. Internal Revenue Service warned that recent budget cuts could mean longer processing time for returns and refunds, and possibly even a temporary shutdown of the agency to save money. “At some point, we’re[…]

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Do I Have To Pay Taxes?

Perhaps the most common misconceptions about taxes and your online business is that the two are not related to each other. Most people think that online businesses are not really taxed that’s why more and more people are becoming attracted to start their very own online business. If you are one of the many[…]

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Dear John Letters From The IRS

Undoubtedly, you are aware of Dear John letters. Often a young lady sent them to men in the military, often containing bad news. Well, the IRS sends them to taxpayers as well. Dear John Letters From The IRS The Internal Revenue Service sends out millions of Dear John letters to[…]

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After Tax Contributions

The phrase “after tax contributions” as it pertains to retirement accounts can often be a bit confusing. This article will discuss some of the common aspects of after tax contributions. You might find it easier to understand the phrase if you think of after tax contributions as being voluntary contributions.[…]

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10 Ways to Cut Your Property Taxes

Property Tax

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[…]

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