Obligated Tax

It does not take a genius to understand that sharing the burden equally does not mean we divide up the national debt evenly and each pay one share. Sharing the burden equally means we all carry that portion of the total burden we are capable of carrying (paying).

Giving Your Car to Charity - The New Tax Rules

The IRS has changed the regulations on donating vehicles to charities. If you donated a car last year, you need to read the following to understand the new rules.

IRS Won't Forgive Taxes Owed by eBay, Amazon 'Hobby' Sellers

Many part-time online sellers believe they aren't liable for paying federal income tax. But even if you have a full-time job where income is withheld for taxes, Uncle Sam still wants his cut from your part-time selling profits.

Newspaper Carrier Under Age 18 Is Exempt from the Self-Employment Tax

A newspaper carrier who is under age 18 is not subject to the self-employment tax under certain conditions. This article explains these conditions.

Do You Know The Major Tax Return Mistakes To Avoid?

Tax season always brings out talk about 1040 EZ forms and W-2s, but most of us are in the dark about what to do with our tax returns even with the long set of directions the IRS puts in with the forms. There is always the option of paying someone else to take care of it, and for many people it is best option.

An Investor's View of The Fair Tax: A Resolution

A Government that bemoans the population's low savings and investment rates has only itself to blame, and Wall Street Institutions are happy to exacerbate the problem with their own financial pandemic of products, strategies, and tax deferral/avoidance schemes. It's time to reinvent this wheel!

Cyprus Buying Investment Property - How to handle CGT

Everyone knows about capital gains taxes these days and tips to reduce the tax paid are welcome. This article tells how you can reduce this to a minimum when you come to realise your property investment in Cyprus. But you will still have to pay UK CGT but the good news is that you can set off what you have paid in Cyprus. Finally the article tells you how to avoid paying Cyprus CGT all together.

Take a Two-Week Vacation and Rent Your Home for Tax-Free Income

All income is taxable unless the law allows a specific exclusion. One of the allowable exclusions is the rental of your home for up to 14 days a year. This article provides an explanation of how a taxpayer can take advantage of this exclusion to generate tax-free income while enjoying a two-week vacation.

Getting a Tax Credit for Your Kids

As you know, raising a family is a full time job and can put stress on your finances. Fortunately, you can claim a tax credit to help cut your IRS bill if you have kids.

What To Do If You Didn't Get a W-2

If you worked in a salaried position during 2005, your employer should issue you a W-2 form for your tax reporting. So, what if you haven’t received one?

Where to Deduct Tax Preparation Fees

Are tax preparation fees deductible only as a miscellaneous itemized deduction for all taxpayers? Has the IRS issued a ruling that shows where taxpayers may deduct tax preparation fees to save the most in taxes? If you own rental real estate or you are self-employed, you need to read this article.

Prepaid Tuition Costs Can Save Thousands of Dollars in Gift and Estate Taxes

With education costs soaring to all time highs, making tuition payments for grandchildren and others can save lots of money in gift and estate taxes down the road - even if the donor is not alive when the tuition money is actually used.

Capital Assets – Gains and Losses for Taxes

Capital is a unique term when it comes to taxes. If it gains value, you pay a tax. If it loses it, you can write at least some of the loss off.