Taxes
How Can I Qualify For A Mortgage Tax Deduction?
When buying a home there are many tax benefits you can take advantage of, including a mortgage tax deduction. Besides a real estate deduction, a mortgage tax deduction can be a great benefit. Read more →How Did I Fall So Deep Into Tax Arrears?
Sales are up and the money is flowing into your bank account. Think all that money is yours? Think again! If you're tracking any taxes such as GST or PST, a portion of those funds belong to the CRA (Canada Revenue Agency). Read more →How Do Taxes Apply To A Corporation
A corporation is a designated entity where the individuals related to it, and the company, have different legal identities. The reason most companies prefer to incorporate is asset protection ? Read more →How Home-Based Businesses Can Avoid Giving Uncle Sam More than His Share
How Home-Based Businesses Can Avoid Giving Uncle Sam More than His Share By Darren Oliver With the rush to file your taxes by April 15th, you probably did not consider the possibility that you overpaid. Read more →How Likely Are You To Be Audited?
Statistics for IndividualsUnfortunately, the IRS increased its rate of auditing individuals in 2003 when compared to 2002. The increase was approximately 14%, but still constituted only 6. Read more →How Long Does the IRS Have to Collect Taxes From You?
The statute of limitations on the collection of a tax liability is 10 years. (Internal Revenue Code 6502.) After ten years the debt is wiped out. (continue to read for provisional conditions)There are a number of ways the ten-year period can be extended. Read more →How Long Should I Keep Tax Records?
QUESTION:How long should I keep my tax returns?ANSWER:One of the questions I am asked most often, both as an accountant and as a tax preparer, is how long should you hold on to records and files, receipts and bills, and the like. Read more →How Offshore Tax Wealth Havens Came About: A Guide for Your Financial Wealth Planning
It's important to keep in mind that offshore financial centers were originally established by onshore banks and corporations. Why? Because felt hemmed-in by archaic laws, regulations and statutes. Read more →How Tax Deductions Work
Many people know that the interest paid on a mortgage is deductible on their income taxes. But they don't understand how it really works.When you understand the way a tax deduction works, you should be able to estimate the amount of tax relief you would receive from owning your own home and paying a mortgage. Read more →How the Tax Break from Car Donations Works
Have a car or a truck that you want out of your garage? Want to get that heart warming feeling of having helped the needy? And last but not the least, want to pay less in taxes this year? Read more →← Previous Next →
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Aphorism
You should invest in a business that even a fool can run, because someday a fool will.
Warren Buffett