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Taxes : Business & Finance
What Happens if You Do Not Annuitize a Variable Annuity?
When saving money for your retirement, you have many choices regarding savings products. One product designed and sold by life insurance companies is a variable annuity. A variable annuity is an insurance contract that pays a guaranteed income to you during retirement. However, you are not forced to
Tax Relief - Deductions for Your Home Office
If you have or hold office in your home, you can get tax deductions for it. The deduction depends mainly on how much space you use as office, or how often you use it.
W-2 Reporting Tips for Employers
As an employer, you are obligated to accurately withhold OASDI, Medicare and estimated income tax from your employees, document the withholding and forward the payments to the Internal Revenue Service. Additionally, you must keep an accurate accounting of all wages paid and all taxes...
What You Can Claim on Taxes as Tax Deductions?
Tax deductions are always a good thing. They reduce the amount you owe Uncle Sam and increase the likelihood you'll get a tax refund when you file your tax return. The more deductions you take, the more you save, so before you file your return, you should know the deductions for which you qualify.
How to Obtain a Wisconsin State Tax ID
Opening a business in Wisconsin can be done easily as long as the proper permits and licenses are filed. In Wisconsin, a state tax identification number is required if you sell, lease or rent items of "tangible personal property or taxable services," according to the Wisconsin Department of Revenue.
When You Are In Need Of A Tax Extension
If you find yourself in need of additional time to pay your 2011 taxes, you should read this.
Is Your Hobby a Business? Or is Your Business a Hobby?
Business or hobby? Businesses can take losses on tax returns, but hobby activities cannot deduct expenses for losses. How to make sure the IRS sees your business as a business and not a hobby.
How to Get a Florida Tax ID Number
If you live in Florida and are starting a new business, you may need to obtain a tax identification number, also called an employer identification number (EIN). Generally businesses that have one or more employees and operate as a corporation or partnership anywhere in Florida will need one. Anytime
Is Long-Term Disability Income Taxed?
The criteria of long-term disability are up to the discretion of the insurance company that provides the benefits. Benefits may be payable only when the recipient is unable to perform his occupation, or when he is unable to perform any occupation at all. Income from long-term disability could come i
IRA Deduction Vs. 401(k) Contribution
If you qualify for a tax-deductible contribution to a Traditional IRA, there is no difference in the tax consequences for that contribution and a payroll deduction for the same amount to your account in your employer's 401(k) plan. To decide which is your better option, compare the characteristics o
Start Off On The Right Foot - Vehicle Income Tax Deductions Begin With the New Year
This article is a call to everyone who uses their personal vehicle for business, to maintain your tax deduction documentation correctly by writing down your vehicle odometer reading on January 1st.Free vehicle mileage log PDF files available for immediate download.
Can I Amend My Bankruptcy After Discharge?
A Chapter 7 or a Chapter 13 bankruptcy is a complex matter. Many forms are involved, and the process requires listing all of your debt and property, as well as all of your creditors. It is very easy to forget to add something to your case filing that should be there. If you need to, you may amend yo
A Guide To Estate Planning And Real Estate Tax In Canada
Everyone needs an estate plan. It’s the single, most effective way to preserve your wealth and transfer your worldly goods efficiently, tax-effectively, and according to your wishes.
What To Look For While Hiring Naperville Accounting Firm
The one that has always been into the business will be the best Naperville accounting firm which you can pick on.There are too many different types of accounting firms that you would otherwise come across while you
1099-K Payments for Credit Card Merchant Accounts: Important Changes
Recently, merchant credit card processing companies created a new form for merchants, known as the 1099-K, at the request of the first Internal Revenue Service (IRS). After an extensive planning process, the IRS required that merchants' annual transactions be documented on this new form for thi
How to Make Money With Tax Liens
County and state governments need property tax money to pay for their expenses. When a property owner delays or fails to pay their property tax, the government entity still has bills to pay. Tax liens are a way for the government to pay their bills, while allowing investors to profit off the tax li
What Makes Someone a Dependent for Financial Aid?
The Free Application for Federal Student Aid form helps calculate need for federal student aid to current or enrolled college and university students in the United States. The U.S. Department of Education administers the program and provides grants and loans to eligible undergraduate students and lo
Tax Tips for Canadian Parents
The maximum annual deduction available to parents is $7,000 per year for each child under 7 on December 31 and $4,000 per year for each child from the ages of 7 to 16. There is no age limit if you have a disabled child, and you could be able to claim up to $10,000.
Can My Estranged Wife File Married Filing Separately?
The Internal Revenue Service allows legally married couples to choose whether to file jointly or separately. Either spouse can make the decision to file a separate return, regardless of whether they live together or not. If your estranged wife chooses the "Married, Filing Separately" status, you may