Browsing Category

Taxes : Business & Finance

How to Calculate the VAT on the Total Amount

VAT is an acronym for Value Added Tax. It is similar to a sales tax but VAT taxes the value added to the product at each different stage of production. Under the sales tax system, the taxes are placed on the entire final sales price of the product. Different countries apply the VAT at different p...More...

Schedule C Information

The Schedule C is an IRS tax return form used to report profit or loss from a business. The form is designed specifically for sole proprietorships. It is important to thoroughly read the Schedule C instruction form each year to learn of new or revised rules....More...

New Tax Law: What Does It Means To You?

As of December 17, 2010 President Obama officially extended tax cuts and ensured the average American will pay about $2,000 less in taxes for the next two years....More...

Instructions for a 2003 Form 1040

The 2003 tax year was one which incorporated a lot of new legislation. Child tax credits increased to $1,000 per child, lower tax brackets were dramatically expanded to reduce taxes paid by married couples, capital gains taxes were reduced to a maximum of 15%, and the lifetime learning credit was do...More...

How to Determine Eligibility for the Property Tax Relief

In the face of escalating property taxes nationwide, the government is offering many property owners a variety of relief options on the state, county and local levels. Offerings differ widely by area but in general, senior citizens and disabled people are the most frequent beneficiaries.

...More...

How to Prepare Income Tax Returns in Canada

In Canada, anyone who earns an income must file a tax return at the end of the financial year. The tax return is used to check that you are paying the correct amount of income tax to the government. If you have had too much tax taken from your income during the year, you may be eligible for a tax re...More...

Looking for Information on Power of Attorney Before Probate

The probate process is a system in each state in which your property gets transferred to new owners after you die. This process involves various people and laws, but powers of attorney are not typically among them. When you grant power of attorney, you become known as a principal, and any powers of ...More...

Do You Have to Itemize to Claim Childcare?

Congress established the Child and Dependent Care Credit to help working parents pay for their childcare expenses. The credit allows taxpayers to receive a credit of up to 35 percent of their childcare costs. Taxpayers are not required to itemize their tax deductions to take advantage of the Child a...More...

Family Limited Partnership & LLC Formation

A family limited partnership is a type of partnership often used to shield family assets from creditors. A limited liability company (LLC) is a business vehicle that combines advantages of both a partnership and corporation. LLCs are also sometimes used to shield family assets. Both entities are rel...More...

What Is A Refund Anticipation Loan?

Even with the widespread use of efile, receiving your deposit can still take a long time. There is no way to expedite processing with the IRS itself; if you need your cash back faster, you ... ...More...

Preparing Income Taxes - Reporting the Cancellation of Debt

Debt cancellation especially pertaining to consumer debt impacts tax planning and tax preparation. Both issues of personal insolvency and receipt of an IRS Form 1099-C will affect the treatment of taxable debt "income" and the final tax bill. Do not overlook the cancellation of any debt wh...More...

How to File Waitress Cash Tips on a 1040EZ Tax Form

Working as a waitress can be very rewarding, but it can complicate your tax situation. Many employers do a good job of keeping track of tips that are charged to patrons' credit cards, but those employers might not be able to accurately track tips left in cash. It is up to each individual server to k...More...

Penalty for Filing Income Taxes Late

All taxpayers who meet Internal Revenue Service's (IRS) filing requirements are required to file their tax returns on or before the April 15 deadline. Those who fail to file their returns are in non-compliance with IRS guidelines and could face enforcement action by the agency....More...

Tax Relief - Capital Gains Tax Taper Relief

Capital gains tax taper relief is a very beneficial form of tax relief as it can give you a significant amount of tax savings. This is only applicable to individuals, though, and not companies....More...

Taxes for a Waitress: How Much Will I Have to Pay at the End of the Year?

Waitresses, waiters and other service staff have an advantage over many paycheck-only workers: They can pocket part of their income, in the form of tips, the same day they do the work. At first glance, this looks like untaxed income and you may be worried about a big tax bill at the end of the year....More...

The Average Salary of Bench Jewelers

Bench jewelers are responsible for the design, construction, adjustment and repair of jewelry comprising of diamonds, gold, silver, titanium and other precious metals and gems. They will cut gems, cast rings in molds and set precious stones into jewelry. There were approximately 23,410 people employ...More...

What Is the Employment Office?

Each state in the United States maintains an employment office for the purpose of reducing unemployment in the local economy and helping state residents to develop their careers. Employment offices have slightly different titles in different states, such as the Employment Department in Oregon or the...More...

How to Pay Your Taxes When You Live in United States

Tax in itself is a responsible topic; US tax legislation require all the more responsible approach from individuals residing in the country whether or not they are a U.S. citizen. Federal tax laws require US citizens and even resident aliens to file their income tax return....More...