February 3, 2012 – 12:21 pm
There are many tax breaks that get overlooked, but homeowners often overlook the most obvious deductions. The truth is, as a homeowner, you stand to save hundreds if not thousands off your taxes. However, it all boils down to knowing what you qualify for. The following are just some of the tax breaks homeowners may be missing out on.
Mortgage Interest
The interest you pay on your mortgage should be one the first tax breaks you take advantage of. Those filing single can deduct mortgage interest on homes up to $500,000 ($1 million for married couples). This will require a … Read more at 2009 Taxes
By Steve
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Also posted in tax assistance, tax credits, tax deductions, Tax Preparation, TurboTax
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Tagged $1 million, Business, Capital gain, internalrevenueservice, Mortgage loan, Property tax, tax, Tax break, Tax deduction, TurboTax, United State, United States
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January 15, 2012 – 9:46 pm
The career of a freelance writer can be very rewarding. However, the career can quickly lose its appeal when tax time arrives and you owe several thousand dollars. Thankfully, there are things you can do to reduce your tax bill and prevent owing such a large sum at once. The following are just five essential tax tips for freelance writers.
Pay Your Estimated Taxes
This cannot be stressed enough. Freelance writers need to pay estimated taxes in April, June, September and January of the following year. These payments will ensure that you don’t get penalized for paying your taxes late … Read more at 2009 Taxes
By Steve
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Also posted in Tax Law, Tax Preparation, TurboTax
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Tagged essential, freelance, Freelancer, Itemized deduction, January, Small business, tax, tips, TurboTax, Writer, writers, Writers Resources
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November 21, 2011 – 12:49 pm
Each year the Internal Revenue Service (IRS) reports the most common tax deductions taxpayers forget about when submitting their income tax return. Among one of the most common mistakes taxpayers make is they forget to place their Social Security number on the form or they make a mistake when entering the information.
It is possible for some taxpayers to be overpaying so it helps to make sure you review deductions available and understand how to claim them correctly to obtain the credit. Below is a list of the most common deductions overlooked by taxpayers:
- State sales tax: Taxpayers who live
… Read more at 2009 Taxes
By Steve
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Also posted in tax deductions, tax returns
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Tagged Charitable organization, Credit card, income tax, Internal Revenue Service, irs, tax, tax credit, Tax deduction, tax return, Tax return (United States), United States
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October 11, 2011 – 11:40 am
In your early twenties it is hard to imagine that day when you can stop working for good. However, pensions have been big news recently and regardless of your age you should think about what kind of financial situation you want to be in come retirement.
How to go about setting up a pension
Setting up a pension will require some research as there are many different types of pension options. You should look at whether your company has a pension and also investigate pension schemes offered by outside agencies. In addition, don’t be afraid to go to a … Read more at 2009 Taxes
By Steve
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Also posted in Retirement Savings, tax credits, tax deductions, Tax Preparation, tax returns, TurboTax
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Tagged Business, Investment, Pension, plan, ready, retirement, Retirement planning, roth ira, saving, TurboTax
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September 1, 2011 – 11:49 pm
Innocent Spouse Relief has always been available as a way for taxpayers who file joint tax returns and who were not aware, nor had any kind of reason to be aware, that her or his spouse had underpaid or understated their liability for income taxes. It was designed to offer the innocent taxpayer some protection from the faults of their partners and spouses and details of how it works were to be found in Publication 971 which was entitled Innocent Spouse Relief.
The regulations detailed in Publication 971 state that innocent spouse requests that are seeking relief from liability need … Read more at 2009 Taxes
By Steve
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Also posted in tax credits, Tax Law, TurboTax
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Tagged Accounting, adjusts, Business, Douglas Shulman, Equitable remedy, innocent, Innocent (actor), Internal Revenue Service, irs, joint tax returns, Marriage, requests, rules, spouse, tax, Taxation, TurboTax, United States
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Do you want to invest your money for retirement but don’t want to get hit up with the high fees? This is why I suggest Lending Club because they have one of the be no fee IRA programs around, and in this article I’m going to show you three simple reason why it’s better to go with Lending Club over other investment programs.
First off, by going with Lending Club you are not investing money in the traditional sense like you do with mutual funds, stocks, and bonds. Instead with Lending Club you are investing your money and lending it … Read more at 2009 Taxes
By Steve
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Also posted in Retirement Savings, Tax Preparation, TurboTax
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Tagged an, best, fee, get, Individual Retirement Account, Investment, IRA, Lending Club, loan, money, Mutual fund, no, place, retirement, roth ira, the, to, with
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