Most individuals and businesses have to pay income taxes every year. However, you normally don't have to pay taxes on all your income. There are a variety of credits and deductions available that may reduce your taxable income. Read over the available tax articles to help you accurately determine your federal income taxes. Additional help can be found on the Internal Revenue Service (IRS) web site. If you run into any difficulty, Lawyers.com can locate a taxation lawyer in your area for specific legal advice.

Tax Planning Articles

State Specific Resources

-   State Codes and Statutes Websites -   State Revenue and Taxation Department Websites

Articles

Consumer Tax Articles

Filing Income Taxes

-   2010 Tax Filing Tips & Tricks -   Beat the IRS? It Can Be Done

-   IRS Is Watching Tax Preparers More Closely -   Options When You Can't Pay Your Taxes

-   Who's the "Tax Man," and Where Does the Money Go?

Tax Crimes and Scams

-   Tax Scams and Schemes -   Is Tax Fraud a Victimless Crime? No, Everyone Pays

-   Scam Alert: "IRS E-mail" May Infect Your Computer

Income

-   Congratulations, You Just Won a Jackpot! Now Pay Up! -   Discharged or Forgiven Debt Income

-   Estimated Taxes for Individual Taxpayers -   Sell Safely and Tax-Free at Your Garage Sale

-   Tax Consequences for Home Foreclosure -   Offshore Accountholders Get Tax Amnesty in 2009

Tax Credits

-   Homebuyer Tax Credit Will Delay Your Refund -   American and Lifetime Educational Tax Credits

-   How to Claim the Disability Tax Credit -   Income Tax Credits for Individuals

-   The Stimulus Plan and the Individual Taxpayer

Securities and Taxes

-   Charitable Contributions Tax Deductions -   Deductibility of Property Used for Medical Care

-   Deductible Medical Travel and Transportation Costs -   Deductible Moving Expenses

-   Determining the Value of Donated Property for Taxes -   Investment Interest Expenses Deduction

-   Itemized Deductions -   Tax Deduction for Bank Deposit Losses

-   Tax Deduction for Disaster Area Casualty Losses -   Tax Deduction for Gambling or Wagering Losses

-   Deductions When Renting Part of Your Home for Work

Capital Gains and Losses

-   Capital Gains and Losses in General -   Computing Capital Gains and Losses on Securities

-   Tax Deduction for Worthless Securities -   Tax Deductible versus Capitalized Securities Expenses

-   Tax on Capital Gains and Limits on Capital Losses -   Taxes & Capital Losses and Carryovers

Alternative Minimum Tax

-   Alternative Minimum Tax Basics -   Alternative Minimum Tax & Stock Options

Retirement Benefits

-   Retirement and Minimizing Taxes -   Retirement Plans: Penalty Tax on Early Withdrawals

-   Roth 401(k) and Traditional 401(k) Plans Compared -   Tax on Social Security & Tier 1 Railroad Benefits

-   Tax-Sheltered 403 (b) Annuities & Exclusion Ratios -   Major Advantages and Disadvantages of ESOPs

Business Tax Articles

Employment Taxes

-   Paying and Reporting the Nanny Tax the Right Way -   Employment Taxes for Small Businesses

-   Employment Taxes for Farm or Agricultural Workers -   Employment Taxes for Small Businesses

-   Taxes for Employees vs. Independent Contractors -   The Employer's Liability for Unreported Tips

Income

-   Constructive Receipt of Income under Cash Basis

Tax Credits

-   Tax Credits for Businesses

Tax Deductions

-   Business Casualty and Theft Loss Tax Deductions -   Business Use of Your Home Tax Deduction

-   Deductible Business and "For Profit" Taxes -   Deducting Expenses on Taxes under the Accrual Method

-   Deducting Prepaid Expenses under Cash Basis Method -   Deduction for Business Bad Debts

-   Deduction for Nonbusiness Bad Debts -   Depreciation for Small Business Property

-   Employee Business Expense Deductions -   Net Operating Loss Carryback & Carryforward Rules

-   Tax Deductions for Employee Lodging -   Tax Deductions for Employee Meals

-   Tax Deductions for Research and Experimental Costs

More Information

-   Selecting a Good Business Tax Lawyer -   Tax: Preparing to Meet with a Lawyer

-   Tax: Meeting with a Lawyer -   Business Taxes

Tax Planning FAQs

-   Income Tax FAQ -   IRS Processes and Procedures FAQ

-   Deductions FAQ -   Age Limit on Dependents FAQ

-   Earned Income Credit FAQ -   Income Definition FAQ - "Taxable Income"

-   Interest/Dividends & Other Types of Income FAQ -   Independent Contractors and Taxes FAQ

-   Capital Gains/Losses on Home Sales FAQ -   IRA's and Tax FAQ

-   Dependent Exemptions FAQ -   Social Security Income and Taxes FAQ

-   Pensions and Annuities Tax FAQ

Lawyers.comsm Virtual Community

Legal Forums

-   IRAs and Retirement Planning -   Personal Tax

Chats

-   Chat Listing

Hiring a Tax Lawyer

-   Consumer Tax: Preparing to Meet with a Lawyer -   Selecting a Good Consumer Tax Lawyer

-   Consumer Tax: Meeting with a Lawyer

Related Topics on Lawyers.comsm

-   IRS Audits -   Business Law

-   Finance -   Taxation

Ask a Lawyer - Taxation Law questions answered by leading lawyers I am 90 years old and my wife is 86. we only make $35000/year with social security and a small pensi I FILED A TAX RETURN IN 2008 . BOTH ME & THE FATHER OF CHILD CLAIM THE CHILD BY MISTAKE. i CALLED i DID RETURN THOSE FORMS.. I BEEN DISABLE UNTIL 7-2012. WENT BACK TO WORK AND FILED MY RETURN AND THEY GARNISHED MY RETURN. i ONLY OWED THEM $1000.00 THEY TOOK OVER $2500.00 . IS THERE SOMETHING IN LAW THAT STOPS INTEREST IN PENALTY IF YOU WERE DISABLE & ALSO BECAUSE I SENT THE FORM BACK TO THEM? My ex-father-in-law paid my tax payment for this year (2010) To the tune of $10,992.00 for federal a My ex-father-in-law paid my tax payment for this year (2010) To the tune of $10,992.00 for federal and $584.00 for State (NJ). He wrote the FED check directly to the Internal Revenue Service and I put mine and my husbands SS# in the memo along with my extention form postmarked on time. My question is -- will this money in any way, be considered as income to me and my husband for next years taxes. Thank you What happens when a parent claims a child and it was not their year to do so? I got divorced and by court order we are to take turns in claiming our son. Last year my ex-wife claimed our son and this year is my turn but she already claimed him. What can I do? Can I still claim him? Can my ex-wife use our joint tax information without my permission. view more...