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Taxes

This category contains 166 posts

Tax Tips: CPA Or Tax Attorney?

When confronted with solving a tax problem, taxpayers have a number of choices including dealing with the issue themselves, hiring a CPA or retaining a tax attorney versed in the tax problem being addressed. Due to the intricacies and far reaching impact of income tax law, engaging a CPA or tax attorney may be advantageous [...]

Income Taxation of Annuities, When and On What?

An annuity is both a contract with an insurance company and an investment. Your contributions (often called premium payments) to it are invested to produce earnings. This article explains when and what is taxed as income under annuitization, withdrawals, and gifts of your annuity.
An annuity has two phases: accumulation and annuitization. During accumulation – called [...]

Be Aware of the New Tax Laws for 2009

Each year, the IRS releases changes in the US Federal income tax laws. Much hasn´t changed for the past years but the recession during the last quarter of 2008 has been a great deal of influence to the new changes in tax laws. Tough economic conditions such as a recession mean that the taxpayer should [...]

Your 15-point tax-return checklist

It’s time to start thinking about getting those taxes done. Maybe you’re in a panic. Not to worry. Just follow Tom’s 15 steps to getting your taxes done, and you’ll be much happier. Ready? Here they are:
-Get serious
Unless you’re focused, you’re going to see that receipt six times rather than the once you need. This [...]

The Functions of a Tax Attorney

The term attorney refers to someone who specializes in law as it applies to things. You will need a lawyer when you happen to have a run in with the law. In the realm of law and legality of things, attorneys are the specialists who can offer you their expertise in terms of advice for [...]

Different Tax Treatments Suggest an Order for Tapping Your Sources of Income

By the time you hit retirement, you’ve probably acquired a variety of savings and income assets. From these you’ll withdraw income to live on and enjoy your retirement years.
But because the tax treatment of your various assets differs, you should know that ordering how you withdraw from them can help preserve them longer. In this [...]

Last Minute Filing Tips for April 15th

April 15th is just a few days away and some of you may be wondering what to do because you haven’t filed your tax return yet. You may be shocked (I always am!) by the number of phone calls my office gets from the public on April 15th looking for help with filing an [...]

Real Estate: An In-Home Business, With Tax Write Off Perks

One of the best parts about being a real estate agent is that you have the power to be your own boss. You may align yourself with a specific over-arching company, but in the end you call the shots. You determine the hours you work – you can do paper work at 5 at night, [...]

IRS Tax Liens and solutions through IRS Tax Relief and third party guarantee

How to Remove IRS Tax Liens
The IRS possesses wide powers as far as tax collection is concerned. When a taxpayer defaults on the tax redemption, filing for a lien is the first activity they carry out to recover the dues in the form of IRS tax debt. As per the law, a lien attaches to [...]

How U.S. Expatriates Can Avoid the 13 Most Common Expat Tax Traps

While the expat experience can be an exciting an exhilarating adventure, there is no greater frustration and disappointment than having the IRS ruin your experience by auditing your tax return while away, calculating additional taxes due, penalizing and charging you interest during the process, and even perhaps suggesting jail time for your mistakes.
That’s why [...]