Taxation

The Taxes You Must Pay if You Are S...

Paying taxes is one of the most important obligations involved in running a business. As a small-business owner, you may be responsible for a variety of feder.... Read more

A Physical Presence Can Be a Factor...

Most states impose a sales tax on all in-state sales of goods and services. Although these taxes are levied on the buyer, not the seller, in many cases the se.... Read more

Taxes When Most of Your Salary Come...

Restaurant workers rely on tips for a good part of their income. Although it may be difficult for the Internal Revenue Service (IRS) to figure out exactly how.... Read more

Business Tax

Nanny Taxes and Taxes for Other Household Workers

Nanny taxes don't apply only to the nanny who cares for your children. The term covers all household help, such as gardeners, housekeepers, and anyone else who works in your home under certain conditions. If you pay a worker more than $1,800 a year (in 2012) you may have to address the issue of nanny tax withholding. Nanny Taxes Apply to Employees Your obligation to pay a nan... Read More

Income Tax

How Your Taxes Change After You Retire

Calculating your taxes each year can be relatively straightforward when you're working, especially if you don't own a business or have multiple sources of income. Retirement can complicate your tax picture. You might want to talk to a tax professional to make sure you're getting it right, and to make sure that you're not incurring any penalties or interest. Retirement Income Is Ty... Read More

Sales & Use Tax

A Physical Presence Can Be a Factor in Online Sales Taxes

Most states impose a sales tax on all in-state sales of goods and services. Although these taxes are levied on the buyer, not the seller, in many cases the seller is responsible for collecting these taxes from buyers and forwarding them to state tax authorities. Online marketing has changed the dynamics of this process, costing states billions of dollars in lost revenue. Out-of-St... Read More

Property Tax

When You Can't Pay Your Property Taxes

Governments impose property taxes on homeowners to finance county and municipal costs. Property taxes pay for police and fire personnel. They help fund public schools and utility services. Your municipal or county government has a big stake in collecting homeowners' taxes so it can meet its budget. If you can't pay your taxes, the government will come after you. You may lose your home.... Read More

Estate & Gift Tax

Mininize Taxes by Planning Your Estate Early

Estate tax laws change often, so creating an estate plan with the intent of minimizing or avoiding taxes can be a challenge. However, only individuals with valuable assets have to pay any estate taxes at all. At the federal level, and in those states that impose an estate tax, these taxes apply only when an estate is worth more than a fairly significant amount that is exempted and can ... Read More

Capital Gains Tax

Capital Gains and Losses

Almost everything you own is classified as a capital asset by the Internal Revenue Service (IRS). This includes your home, your car, your furniture, and your stock portfolio. If you make a profit from selling a capital asset, you may be required to pay capital gains tax on your profits. If you sell a capital asset at a loss, you may be able to write off your loss. You can only write of... Read More

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