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Srinivasan Anand G.
The Direct Taxes Code Bill, 2009 is silent on the tax treatment of reverse mortgage. The author opines that having regard to the nature of the transaction, the position which prevails under the Income-tax Act, 1961 will continue under the Code also. However, it is desirable that express provisions be incorporated.
1. Under section 47(xvi) of the Income-tax Act , 1961 (�th......
The day I left my suburban life in Kansas City and decided to spend the next 30 months in Rio de Janeiro is something that I don”t regret. I was carefree and loved having left behind my American ways and embracing their exciting culture. Little did I know that I still had to pay my taxes, nor that Foreign Earned Income was even a sentence that my life would revolve around!. The knowled......
Homeowners are amazed to learn they can obtain a copy of the appraisal district’s evidence at a nominal cost. This is referred to as a House Bill 201 package, and is the only information many homeowners use to successfully reduce their property taxes.
Obtaining a House Bill 201 package when appealing your property taxes can greatly increase your chances for a successful appeal. House ......
As a practicing tax accountant I am often asked what can I deduct on my taxes? During the past 18 years of tax preparation I have tried to answer this question to best suit the needs of the particular client. The deductions described in this article are intended to help you with this question.
Did you change jobs last year? If you satisfy certain tests you are able to deduct the expenses ......
You may qualify for a deferral of the back taxes you owe if you can show that your military service compromised your ability to pay your taxes. The Service Members Civil Relief Act provides this unique benefit to active duty members of the military service that owe back taxes; whether you are in the Navy, Army, Marine Corps, Air Force, Coast Guard, as well as commissioned officers of the uni......
A lot of people allow expenses to add up over time, these charges can result in you owing back lots of money to the IRS. Most people find it difficult to repay the entire amount of the money they owe right away, this is exactly why there are many IRS settlement plans set up for people who are having monetary troubles. If you already know that you are capable of paying off your Internal reven......
It is obvious that doing taxes is not an entertaining task but it is not entirely a daunting task as well, if you opt for doing it online using tax software. When you’re confronted with the difficult, at the same time important, task of filing your taxes before the due date, then it would be a fine alternative for you to do your taxes online free. Yes, there is nothing to surprise if yo......
It is very true that a wedding can be something very costly. You may want to find ways to save money on your wedding. This is especially true if you are on a tight budget. In fact, it is always a good idea to save money on your wedding unless you are a very wealthy person. On one hand, you will need some money for your new life after marriage. On the other hand, the money saved can be spent ......
Does your budget have leaks?.. or would you rather not think about it.
Most people don’t realize how much money actually slips through their fingers in an average week. We are all working hard, trying to get somewhere and make a nice life, and in doing so, we don’t pay much attention to the nickels, dimes, quarters and more that are slipping through our hands every day.
You know ......
Income tax debt can be stressful to deal with but nevertheless can be dealt with in quite a few manners. With the current economic situation, the IRS is taking measures in order to help tax payers avoid IRS tax levy and get suitable tax solution. The IRS has given tax payers the option of choosing the Direct Debit Installment Agreement, that allows them to make the necessary payments in orde......
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Understanding Florida Real Estate Taxes With Florida’s Amendment 1
Florida’s real estate tax laws can be tricky to understand. There are several factors which affect the size of your property tax bill, so if you’re buying property in Florida or are relocating, it’...
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How Are Property Taxes Determined?
Those who own properties pay taxes for their properties every year. The tax rates are always determined by the local governments of your area in which you live and depending on the needs of the mun...
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Do You Need To Make Estimated Tax Payments?
The second quarter estimated tax payment is due in less than two weeks (June 15). Do you know if you need to make estimated tax payments? The federal income tax system is a pay-as-you-go tax syste...
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Do You Need To Make Estimated Tax Payments?
The second quarter estimated tax payment is due in less than two weeks (June 15). Do you know if you need to make estimated tax payments? The federal income tax system is a pay-as-you-go tax syste...
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How Can Sales Tax Save You Money?
It’s that time of the year again. Tax time! It may not be one of the more enjoyable times of the year, but it is definitely one of the more important dates on the calendar. Hopefully, you hav...