Enrolled IRS Agents vs Unenrolled Practitioners: What Is the Difference?

The difference between an Enrolled Agent (EA) and an Unenrolled Practitioners is about $150.00 per hour with strict limitations on the part of the Unenrolled practitioners

Expired Tax Cuts Get Another Chance

Senate Finance Committee Chairman Chuck Grassley is urging fellow Senators to quickly pass a series of expired tax cuts. Grassley says that without the legislation, taxpayers will face confusion and compliance problems.

Making More Money from Capital Gain Taxes

As we may know, keeping a diversified portfolio can be beneficial to the overall health of our financial stability and growth. Taking a closer look at each investment, they fall into two categories of taxes: capital gains tax and ordinary tax. Many people have both types of taxes within their portfolio but are not sure which tax applies to the investments.

IRS and Private Debt Collectors

The terror of most Americans is to be hunted by the IRS for overdue taxes. Well, the terror has evolved a bit as the IRS is now using private debt collectors to do much of the work.

As a Bookseller Don't Risk Being Accused of Cheating on Your Taxes

Since the inception of the various online marketplaces for booksellers there has been a lot of abuse with respect to the reporting of both federal and state tax obligations; don't be fooled, the authorities do have ways of finding you out.

Cut Your Taxes And Receive a Larger Refund - Start A Home Based Business

Did you know that nearly 50% of an employee’s income is paid to the government? Employees basically work to pay the government from January to mid May in the form of taxes. There is a legitimate way to cut your taxes and receive a refund check.

Act Now to Limit Your 2006 Tax Bill

Much like the Swallows returning to Capistrano each year, nothing is more consistent than taxpayers grumbling about the amount they owe in April each year. This need not be so.

Tax Alternatives: The Negative Income Tax

Nothing gets people more riled up than a discussion of taxes, but what alternatives are there to the current system? The negative income tax is one such possibility.

How to Settle Your Tax Debt for Pennies on the Dollar

When you owe the IRS for back taxes, you probably owe a large sum. Most people who fall behind in their taxes, owe for more than just one year. When you owe back taxes, you know that the penalties and interest will end up costing you more than the original debt - usually MUCH MORE!

Understanding The Dreaded Income Tax

Every year in April, Americans are faced with an imposing deadline - tax day. Throughout the year, income is earned and then taxed. Depending on the way in which dependants are claimed and deductibles used, a person would then be entitled to money back come income tax time or they would have to pay taxes.

Congress May Crack Down on Homeowner Property Tax Write-Offs

If you've been writing off your property taxes on your federal income tax form every year, you may need to be more careful with your figures if the recommendations of a report are accepted and adopted into legislation by Congress. A congressional committee recently suggested that many homeowners have been deducting more property tax than they should from their taxes, which, according to the report, has been costing the government hundreds of millions of dollars every year.

10 Do's and Do Not's for Filing and Lowering Your Taxes

Small Business owners can 179 themselves into lower taxes and individuals can reduce the threat of an audit by following a few simple steps.

The Proposed Income Trust Taxation -- Impact to Canada and Investors Around the World

Summary of the recent proposed income trust taxation in Canada and whether the latest development presents risks or opportunities to investors around the world.

Deducting the Home Office: For Itemizers and Non-Itemizers

The IRS provides numerous examples on a variety of topics, usually focused on what the taxpayer cannot do. This article covers some of the planning opportunities, focusing on what you can do to legitimately deduct your home office expenses and to maximize your home office expense deductions.