Debt Settlement: A Popular Alternative to Bankruptcy with Implications for Taxes Debt settlement has become a popular approach to resolving problem debts without having to file bankruptcy. With this approach, creditors agree to accept a portion of what you owe (usually around 50% or less) to settle the account, and the remaining balance is forgiven. … Read more
Do You Qualify for Home-Based Tax Deductions? New changes in the tax laws have made it easier than ever to claim Home Office Deductions and keep more of what you earn. If your home is a place of business, many of your personal expenses can be deducted as business expenses resulting in lower taxes. You … Read more
Affiliate Business Taxes: What You Need to Know Starting a Home Based Internet Business Starting a home-based business on the Internet is easy you say. You have your web page built, your affiliate links and you’re ready to go. Not really, you need to make sure you have all your i’s and t’s crossed when … Read more
Making Good Business Decisions Have you ever owned a stock, or piece of real estate that you wanted to sell? You felt the time was right to take your profit and run. Did you then not follow through with the sale because the taxes would kill you? This is what I call “making a decision … Read more
Your Mid Year Checkup: Lowering Your Taxes Are you still owing the IRS in taxes every year? Not a great situation to be in, is it? But there is still hope for this year. You have almost six months, in some cases a little longer, to make certain you owe less tax, and possibly no … Read more
Ostriches may not be taking over the world just yet, but they are starting to influence politics in a frightening way. TRENTON, NJ (Sputnik.com) – Well, it looks like the human race might be ready to take a step down in the chain of command for this planet. At least that is what I seemed … Read more
Where Does Our Tax Money Go? Trying to stay within the theme of Budget Stretcher, I thought a series of articles on knowing where your money is going may help some of you understand just how much you pay on certain expenses. What are the Different Types of Taxes Americans Pay? Income, property, and sales … Read more
Rather Than Rush to Prepare – File and Extension As the tax filing deadline is quickly approaching, many procrastinators and those who are legitimately not ready to file their returns become stressed out and frantic, trying to meet what may virtually be an impossible deadline. Many would rather rush to get their returns prepared than … Read more
The Purpose of Taxes on Earnings Almost all governments across the globe are funded– in some form – by the taxation of their citizens. Certain of the taxes are collected at the time of sales or service whereas certain others in a 12-month period or at the end of what they call a fiscal year. … Read more
Bizarre Tax on Illegal Drugs One can never underestimate the enthusiasm that politicians have for trying to hunt up tax revenues. The creativity of some politicians can lead to bizarre taxes and unfortunate results. Taxes on Illegal Drugs One argument for the legalization of various narcotics is that massive tax revenues would be created. Interestingly, … Read more