The time of year for tax returns is no respecter of persons. It is hard to swallow that it hits us just after the most liberal shopping time of year of the year when we max out our credit cards to keep up with the Jones’. For most people just gathering the basic information to [...]
Today, just like in any other age, people hear things and repeat them without thinking. This is alll so obvious with the Internet and its far-reaching platform. Almost everyone is an expert on one thing or another and spout their views to the gullible and sometimes lazy recipients. When some people reach one of the [...]
Tax jurisdictions try to justify collecting tax by the fairness concept. That is, everyone who can afford it should pay their share of the tax burden. It is a burden allright because the tax man sometimes demands his portion of the loot by asking for his money upfront. So it is important that you get [...]
You may sometimes wonder what escapes the tax man in the good old U.S.A. Most people know the impact of taxes on wages and other salary amounts, but few realize that there is no IRS relief for taxes also apply to personal property. The Tax Code defines just about everything you own and use for [...]
The complexity of the Tax Code does not come with the original legislation passed many years ago. The basics are straight forward. But the several and various amendments to the Code over the years have mangled it simplicity beyond repair. The way the Code stands now, someone with the guts of a whale has to [...]
Every year I get free software from the makers of tax preparation software. They don’t want to send me free software because they like me, but because they know I would likely use the various software and include tax software reviews as part of my publishing empire. Only, I don’t have a large empire like [...]
Tax filing can be a daunting task especially if you think that it is. On the other hand, you can treat it as something you have to do to keep the IRS out of your books. There is a lot of information out there about your rights to file any sort of income tax return. [...]
Many people fear the IRS thinking it is out to get the average Joe. The IRS is responsible for enforcing a controversial law in the U.S., but it is not as bad as some will have you believe. Fear comes out of ignorance, so it is important to find out the truth rather than mull [...]
Smart taxpayers know that filing a tax return is not the first stage in tax management. Perhaps that is why they depend on tax planning software to help them reduce their tax liability long before they begin preparing their income tax returns. Tax planning must begin the first day you decide to earn income from [...]
Is it any surprise the IRS taxes your gambling winnings? Gamblers are compulsive freaks of nature, and while many gamblers lose everything including their self-worth, a few manage to beat the system. When you think of gambling you should also include the fair market value of prizes you receive. The luster of a new car [...]