Minister's Housing Allowance

The housing allowance that a minister of the gospel receives as a part of the minister's compensation is not subject to income tax. May the minister deduct mortgage interest and real estate taxes on a home the minister owns for which the church provides a tax-free housing allowance? This article answers that question and explains the tax consequences of a minister's housing allowance.

Royalty Tax Payments in Franchising Agreements

As many government agencies attempt to collect more tax revenue some have decided to tax royalty payments of franchisors who have franchise outlets within their jurisdictions.

Useful Tips To Help Make Your Tax Preparation A Breeze

Preparing your taxes can be daunting and stressful, especially since the average person is not an expert on tax rules. So here are some basic tax preparation tips to help make your tax preparation go a little more smoothly.

What You Need To Know About Tax Write-offs For Casualty Losses

Life is full of ups and downs, and there is no way of predicting when you will suddenly find yourself in a bad situation. However, there is at least one up side to disaster; most can be counted as casualty losses or deductions on your taxes. While you won’t get all the money back you lost, for major losses, it is worth claiming the deduction.

Giving Your Car to Charity - The New Tax Rules

The IRS has changed the regulations on donating vehicles to charities. If you donated a car last year, you need to read the following to understand the new rules.

Debt and Denial - During the Tax Season

As 120 million households prepare their taxes this year Bill Mitchell asks the $64,000 question. “With the tax season deadline approaching, what election will you use to file your 2005 tax return? Married filing jointly or married with money grubbing cheating Spouse?”

Deducting Miles Driven on Behalf of a Charity

How much may a taxpayer deduct for miles driven on behalf of a charity? Do exceptions and limitations apply in some circumstances? Is a higher than normal deduction allowed in some cases? How does the tax law treat parking fees and tolls paid on behalf of a charity? If you drive your automobile on behalf of a charity, you need to read this article.

What is a 1031 Exchange?

1031 Tax Exchange from the IRS will allow you to save a lot of money, but how? What is it exactly?

Tips For Preparing Your Taxes from the Internet

When it comes to preparing our taxes, many of us could use some help. The following websites offer guidance and information that may assist you in learning about how to get the most out of filing your returns.

Your Mutual Fund and Tax Consequences

If you own a mutual fund as a regular savings account, you may be subject to paying taxes on your mutual fund. If you had a substantial income or capital gain distribution, you may have substantial taxes.

How To Qualify As A Dependent On A US 1040 Tax Return

First, the qualifying individual must be a US citizen or national, and their marital status must be single, read the full article for more information.

Using This Years Taxes to Save On Next Years Taxes

You just got done paying taxes or filing an extension and are grumpy. If you are smart, you will use this miserable event to save some cash for next year.

Tax Tips for Writers & Authors

Making a living as a writer? These tax tips could save you thousands of dollars a year.

Didn't File Anything With the IRS on April 15th?

The magic tax date of April 15th has passed. If you did not file a tax return or extension request, you need to consider the following.