taxes

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How the IRS Views You: Home Business or Hobby?

investorjunkie.com

Many budding entrepreneurs are interested in the ability to take a tax deduction for expenses related to home business activities. Even hobbyists can claim deductions on their tax returns. You need to know the difference.


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2 years 6 weeks ago – Made popular 2 years 6 weeks ago
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Estimated Tax Payments: How They Work, When They’re Due And Why You Should Pay Them

www.biblemoneymatters.com

If you're self employed or if you have significant side income you most likely should be paying estimated taxes on the income throughout the year. Here's how.


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2 years 6 weeks ago – Made popular 2 years 6 weeks ago
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What If Someone is Claiming Tax Credits In Your Name?

www.taxdebthelp.com

Find out what to do if someone has stolen your social security number and has filed a tax return with it. The IRS is aware of this scheme.


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2 years 6 weeks ago – Made popular 2 years 6 weeks ago
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Average vs Marginal Tax Rates

www.myuniversitymoney.com

When I was in university I couldn’t have cared less about knowing the difference between average tax rates and marginal tax rates. I just knew that I got a nice juicy refund every spring (when it was sorely needed) because as a student I got a lot of cool tax breaks and I didn’t make much money.


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2 years 7 weeks ago – Made popular 2 years 7 weeks ago
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A Basic Overview of the AMT

personaldividends.com

The alternative minimum tax, or the AMT, was instituted as a way to ensure that those with high incomes, and who might take advantage of excessive deductions, pay at minimum, what they should owe.


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2 years 7 weeks ago – Made popular 2 years 7 weeks ago
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Hire Veterans, Offer Health Care Coverage, and Get a Tax Credit

www.taxdebthelp.com

Small businesses are often considered the backbone of our economy. In order to help small businesses grow, the government often provides different tax credits. Here are two you might want to consider.


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2 years 8 weeks ago – Made popular 2 years 8 weeks ago
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Tax Efficient Investing - Do You Need Everything in a Tax-Advantaged Account?

investorjunkie.com

When it comes to investing, it’s a good idea to consider the tax consequences of your decisions. Without a plan in place, you could end up paying more tax than you really need to. While I don’t advocate avoiding taxes, I do think that legally increasing your tax efficiency is smart.


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2 years 9 weeks ago – Made popular 2 years 9 weeks ago
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Should You Take the Home Office Deduction?

www.taxdebthelp.com

When you work from home you may have the option to take a tax deduction for the business use of your home. The home office deduction can be useful, but before you take it, you should consider the pros and cons.


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2 years 9 weeks ago – Made popular 2 years 9 weeks ago
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Is mortgage interest tax deductible?

wallethub.com

One of the ways that the government, since 1913, has encouraged home ownership is with the help of the mortgage interest tax deduction. This is an itemized deduction listed on Schedule A of your Form 1040. Here's what you need to know about it.


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2 years 10 weeks ago – Made popular 2 years 10 weeks ago
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Social Media Tools the IRS Uses Help You with Your Taxes

www.taxdebthelp.com

When we think of the IRS, few of us think about social media. However, the IRS does recognize that many taxpayers use social media regularly. As a result, you can get helpful tips year-round by taking advantage of the social media tools offered by the IRS.


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2 years 10 weeks ago – Made popular 2 years 10 weeks ago
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