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Taxes : Business & Finance

How to Not Ruin a Manicure When Doing Dishes

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

What Can a Person Claim on Income Taxes?

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

Income Tax Returns Your Accountant Should Not File

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

BP Holdings Management on Taxes and Thier Original Intents

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 ...

How to Claim Bankruptcy in Massachusetts

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

Is There a Deadline to File an Amended Tax Return for 2007?

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.

How to Defer a Salary

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

Irs Taxes In Bankruptcy

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

How to Figure What Percentage of Taxes to Pay on Contract Jobs

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,

When Do I Claim Money Market Interest on My Tax Return?

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.

What you need to know about Inheritance tax

What is Inheritance Tax? Inheritance Tax is usually paid on an estate when somebody dies. It is payable if your estate, together with Trust assets from which you are entitled to the income, and gifts

What Is a Provision for Income Taxes on the Income Statement?

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

Economic Growth and Back Taxes

The past few years have proven difficult for many Americans, and the economy as a whole. When people suffer their government suffers as well. A healthy government, one low on debt with plenty of cash ...

Tax Rules for Spouses With Separate Residences

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.

Local Self Government In New Jersey

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

How Are My Federal Taxes Calculated When I Retire?

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

IRS Schedule E - Supplemental Income and Loss

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.

Can You Sell Your Home If It Is Not Paid For?

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