Taxes : Business & Finance
Whether you do it yourself or have it professionally done, a manicure can instantly highlight your fingers and hands. However, daily wear and tear can reduce the life of your manicure. When doing the dishes, water exposure softens and expands your nails, causing the polish to chip and peel as the na
There is a wide range of expenses that you can claim deductions and credits for on your taxes. Each deduction and credit has separate requirements you must satisfy before you can obtain any tax savings. Although this is by no means an exhaustive list, many tax deductions and credits have similar typ
You've been feeling uneasy (perhaps even guilty) because you've failed to report your under the table business income. Perhaps you've never filed a tax return, even though you know you owe money. Finally, you contact an accountant to resolve the situation.Although it is commendable th
Tax is designed to generate enough revenue to sustain essential public service, such as public safety, civil infrastructure for communication and transportation and basic health services. When you see a government hospital, you know your ...
Filing for bankruptcy can offer you a way to eliminate your debt burden when it has become too great to handle on your own. In a Chapter 13 bankruptcy, your debts can be consolidated under a government administered plan, allowing you to avoid foreclosure or seizure of assets while paying what you ca
Each year wage earners file a federal income tax return. If you find a mistake in your filed return after the fact, you must take care of it by filing an amended return. The Internal Revenue Service tax code sets a deadline and other criteria for filing an amended return.
A deferred salary or compensation plan is a way for employers to reward and retain key executives, highly compensated individuals and talented employees. You can defer your salary in a qualified or nonqualified deferred compensation plan (NQDC). A 401k is an example of a qualified plan. Choose a ND
The IRS taxes in bankruptcy reform was voted on and passed into law in 2005.This new law makes it harder to get rid oftax debts when filing bankruptcy.It's not impossible, just harder, and more rules to follow.It is very important to have an attorney if you are considering your IRS taxes in ban
People working as independent contractors receive a gross wage and have to pay their own federal, state and local taxes. The federal tax due includes income and FICA tax. States also tax wages, as well as some local governments. To understand how to pay the right amount of taxes for a contract job,
In the United States, the Internal Revenue Service requires taxpayers to report any interest earned from money market funds during a tax year as dividend income. Unlike many capital assets, the tax on earnings from money market funds cannot be deferred until the money market fund is sold.
The income statement is one component in a company's financial statements. It is also known as the profit and loss account, and lists the revenues and expenditures a company has made during the period of time covered by the statements. This is in contrast to the balance sheet, which shows the compan
Being married makes you legally connected to another person until death or divorce do you part. While you share most legal issues with your spouse until the marriage dissolves, tax law considers you single even if you’re married as long as you maintain separate residences for most of the year.
New Jersey "Home Rule" myth or well established principle.Local self governance is the "exercise of economic, political and administrative authority to manage a local government's affairs at all levels.It comprises the mechanisms, processes and institutions through which resident
Retirement is a time when you can step back from the hectic pressures of the modern world and spend more time enjoying life. However, that doesn't mean you get to forget about taxes. Taxes are mostly calculated the same way when you retire as they were while you were working, but there are importan
Use the power of available deductions to boost your business's bottom line in 2007. Purchase new or "new to you" used business equipment now. Then place it in service by December 31st to realize exceptional ...
Schedule E records supplemental income and loss, including income and loss for individual partners in a partnership and individual shareholders in an s corporation. Information from Schedule K-1 is entered into Schedule E, and total Schedule E income/loss is entered on Form 1040.
Selling a home with existing liens could jeopardize a successful transaction if the purchase price does not pay off your mortgage lender. Many homes that have existing mortgage liens are advertised for sale, as most sellers typically plan to pay off the underlying mortgage with proceeds received dur