Roth Ira is among the best available savings and investments accounts available in the United States. The Roth Ira is very advantageous to users since it does not attract any tax; tax deferments do not apply to this kind of the savings plan.The Roth ira limits contribution allows for contributions adjustments to amounts lesser than your gross income; annual contribution limits are imposed by the federal government.The limits are usually reviewed...more
The AMT items that were talked about in Part 1 of this wrap-up generally were the bigger ones that can, depending on a taxpayers situation, present immediate year-end Alternative Minimum Tax savings opportunities. But the other items that were discussed in this 10-week series also are important in making sure the least amount of AMT is paid. Here is a brief recap of these other items, with references to the amtblog.com articles in which each...more
Author: Wayne HemrickDo you own and operate a business in the Los Angeles Basin? If so, were you aware of the new green tax incentives that can help to improve your company's bottom line?By reducing energy consumption at work, your company may be eligible for a number of green tax credits from both Sacramento and Washington D.C. In addition to these money-saving eco-credits, your company may be eligible for addition tax breaks if it is located in one of forty-two "Enterprise Zones" – communities that have been identified by the State of California as being economically disadvantaged. These of course are in addition to any green tax incentives for which your business may qualify.Green energy tax incentives cover a wide variety of issues and actions that can be used by the private sector to help promote a cleaner environment while contributing to economic growth. These green tax credits may include the purchase or lease of hybrid, electric or flex-fuel vehicles as well as things such as solar panels and wind generators. Such eco credits can also cover the purchase of computer hardware or software used to control energy usage when it comes to lighting and HVAC systems as well as...more
On Wednesday, the IRS released Revenue Procedure 2009-47, which is its annual update to the substantiation rules for business travel expenses when an employer provides a per diem reimbursement allowance. It sets the per diem rate for travel to high-cost localities and for travel to other localities in the continental United States.The revenue...more
Author: Nancy White What closely is the Foreign Earned Income Exclusion? The IRS defines it like this: "For this target, distant earned revenue returns you collect for navy you make in an unknown country during an epoch your tax home is in an exotic country and during which you meet each the genuine residence suffering or the bodily aura check." On...more
Author: Scottie PrattAre you in need of some Tax Help? While it is important to pay your taxes, do remember that it is equally important that you file your return to avoid any problems with the IRS. But unfortunately, many fail to appreciate the point and hide their heads in the sand when confronted with tax demand notices.This not only creates problems that could have been completely avoided, but you may end up having to pay fines and even interests on the unpaid amount. So, it is good to be ready, and it is advisable to ask for tax relief help. So it is time you turned to a specialist for all your tax return help, property tax help or any other expert help that you may need to solve your tax problems. In many cases, the IRS may also be interested in helping you.1. The fact is, the IRS is willing to offer you some tax relief, if you can prove to them satisfactorily that you are unable to pay the full amount that is owed. However you need to be aware that whether you will get the relief or not depends on your ability to present the case successfully and the negotiation itself for an acceptable offer.3. Actually the department wants to be sure that you are willing to comply. 4. Tax...more
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