If you have unpaid taxes owed to the IRS you should be looking for a resolution to this problem. The longer you wait to resolve the problem the worse things are going to get. Although the IRS often times works very slowly, you can be sure of one thing: they are going to realize soon enough that you have unpaid taxes. At that point they will get in touch with you to start the collection process.The first thing you must do in...more
With real estate being touted as a wise investment in ones future, it is important that you know all of the positives and negatives that come along with being a property holder. Taxation is a familiar road that all of us travel, but it is important that you look beyond your tunnel vision and actually see what is happening to your dollar. Recently the Wall Street Journal did opinion piece on the amount of times that a dollar really...more
The thrill of New Years has barely worn off, yet it is already time to get back to the grindstone. In this case, we are talking about tax season. The issue? Any 1099-MISC filings need to go out in the mail soon. What is the 1099-MISC tax form? It is what is known as an IRS information return form. Being a tax form, there are a ton of situations where it is or isn’t filed. In general, you need to prepare and file the form for any independent contractor you paid $600 or more to for a business purpose during the tax year in question. Consider an example.It was a rough business year. In hopes of digging up some business, I paid my 17 year old neighbor to build a website for my business. He did a smash up job and I am happy with the website. If I paid him $500 for it, I do not need to file a 1099-MISC form because it doesn’t meet the $600 threshold. If I paid him $1,000, the opposite is true and I have to do the filing. This is true for anyone you paid over $600 during the year, but not for most corporations you paid. So, when do you have to file these things? Well, the first deadline is February 1, 2010. I’ll wait while your recover from your fainting episode...more
When you decide to use a function, you will find that each function has a set of rules that affect the way in which the function will operate and the order in which the parameters of the function will operate. The components that are used by a function are referred to as the syntax of the function.Every Microsoft Excel function that you work on...more
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As there are online tax filing software and services are available, paying taxes has become easy and convenient. The IRS provides you with Free File tax preparation software that lets you do your taxes for free but the only thing is you...more
With the European Union expanding and borders contracting, more and more people are entering the UK, with figures reporting over 1,500 migrants entering a day.Many foreigners believe they do not have to pay any taxes when working abroad. This is...more
Corporate Tax Singapore has one of the most competitive corporate tax structures in the world. The corporate tax structure is a pro- business package inclusive of wide ranging stimulus such as income exemptions, incentives, generous...more
With effect from 16.06.2005, Service Tax was levied on Club or Association Services. Club or Association was defined under Section 65(25a) as, Club or Association means any person or body of persons providing services, facilities or...more
Moving is an experience most people dread. Not only is it stressful, its expenses often run in the thousands of dollars. One silver lining is that those moving expenses are often tax-deductible. This article details the IRS guidelines on tax...more