Category Archives: Taxes

There are a lot of different taxes that are imposes all over the globe. Tax that is imposed towards the owners of certain property within their jurisdiction by the municipalities is known as Property Tax. Property tax or also known as mileage tax in certain countries around the globe are normally according to value of the property itself. The tax is one type of ad valorem which an owner of a......

With the end of the year just around the corner, the new law may provide you with additional tax saving opportunities. In this report, I’ll share the 2 most popular tax breaks in the new law and how they apply to your taxes. Tax Break #1: First-time Home Buyer Credit Background information The first-time homebuyer credit is one of the most popular tax incentives in recent years. When o......

Back taxes are not going away. There is a time limit given for the IRS to collect on back taxes but it is not a good idea to test that limit. It is better to deal with back taxes as soon as you learn about those tax debts. The best method is to avoid tax debts altogether by staying away from the common mistakes that cause many people to owe back taxes in the first place. Getting into Tr......

The time is just about right to file for income taxes. The deadline is April 15th, and you should do what you can to avoid missing the deadline. Otherwise, you end up having pay penalties, which is totally unnecessary. When filing for individual income tax, there are 3 types of forms that you can use. Be sure to pick the right form. 1) 1040 EZ This is perhaps the most commonly used form. Yo......

As an American citizen living overseas, you should be aware that the US government requires you to pay taxes. You’ll find that it is a process that’s rather easy if you do not know how. Filing is definitely a much better choice to avoid IRS issues. Most people think that by working overseas, they are spared from filing and paying their taxes. However, this is false. No matter whe......

Going to casinos can be fun and exciting. It can be more exhilarating the moment you are in your winning streak. However, the excitement may turn sour knowing that the IRS charges around thirty percent to form part of gambling winnings tax. This can be disappointing but, the taxes withheld can be taken back from the IRS, in the form of tax refunds. The U.S.-Canada Income Tax Treaty Tax refun......

The simple answer to this question – do home business owners have to pay taxes – is an unequivocal YES. But rather than curse Uncle Sam, consider all the surprise deductions you’re now eligible to receive as a home business owner, many of which you probably didn’t know about! The most common tax deductions a home business owner will face come from the computers, peri......

Revenue:The most important purpose, taxes raise revenue for the government to spend on education, transportation, jobs, local governments, military, and judicial systems. Without taxes finding funding to build schools and buy books for them would be incredible difficult. Our country, as well as many others, is literally funded by our own taxes. Individuals, companies, and small businesses al......

The chances are the value of your home has decreased in the past couple of years. The county has likely lowered the value and tax base but perhaps not as much as you think it should be. You may not realize it, but every homeowner has the right to go to the tax assessor and request that their property taxes be lowered. Of course the assessor won’t do it just because you ask and will usu......

Illegal Drug Possession11 states in this country, including North Carolina and Nevada, tax citizens on possession of illegal drugs. After acquiring an illegal substance in North Carolina you are supposed to go to the Department of Revenue and pay a tax on it. In exchange, you will receive a stamp to affix to your drug which serves as evidence that a tax was paid. Profit from Illegal Drug Dea......