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             09 December, 2023



 » Taxes


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Understanding Depreciation Conventions (Popularity: )
When choosing to depreciate a business asset, you need to choose both a method and a convention. A convention simply refers to figuring how much of the item basis you may depreciate the first year, based on when during that year you purchased and put the item to use in your business. This article will explain the differences between the half-year convention, the mid-quarter convention, and the mid-month convention. Half-Year Convention ...

Depreciation - Choosing A Method (Popularity: )
Depreciation is a way you are allowed to deduct the normal wear and tear of business assets (equipment, computer software, automobiles, office furniture, etc). You may claim an item which: you use in your business, wears out over time, AND has a useful life exceeding one year. Because the item is expected to wear out over time (longer than one year), time frames have been assigned to different classes of ...

The Real Deal on Alliance Bernstein 529 Plans (Popularity: )
If you ever once dreamed of become an architect, a doctor, a nurse, an engineer, a lawyer, or many other things, you would probably know that a college degree or better is needed to make these dreams possible. All over the world and all over America, many families try making dreams into reality by sending family members to college. This is not so easy however, especially in the United States. ...

Tax Consequences of Foreclosures (Popularity: )
As we all know by watching the news, the real estate market is pulling back hard from the days of glory earlier this decade. In fact, many people are losing their homes to foreclosure. Few realize the tax consequences of losing one's home. The Internal Revenue Service looks at things in a strange manner. What you may see as a loss, it sees as a gain. How could this possibly be? ...

Avoiding Disaster - Data Loss At Tax Time (Popularity: )
Brisbane, QLD, 3rd April 2007 - Taxpayers and tax professionals are increasingly preparing and filing tax returns online, creating a reliance on digital data that, if lost through malfunction or error, could spell disaster. Last year, 90 per cent of Australian taxpayers lodged returns electronically, and the Tax Commissioner is aiming to boost that number to 95 per cent of taxpayers in 2007/8. As insurance against this risk, CBL Data ...

IRS Turns to Computers to Choose Who Gets Audited and Who Doesn't (Popularity: )
Taxpayers audited by the IRS aren't selected randomly by humans any longer. They're chosen methodically by computers looking, line by line, for irregularities in tax returns. An Internal Revenue Service (IRS) audit can make even an honest and thorough taxpayer worried. In fact though, an IRS audit is simply a review of your tax return to determine how accurate it is. Taxpayers Likely to be Audited -People who receive cash for their ...

Can I Save Tax By Going Offshore? (Popularity: )
You can read all you like about the legalities and complexities, benefits and risks of going offshore but I'm 99% certain that what you really want to read is the definitive answer to your most pressing question which is can I save tax by going offshore? The fact of the matter is - it is possible for some people to save tax by going offshore - why else do you think ...

Why You Should File Your Taxes, Even If You Don't Have the Money to Pay (Popularity: )
You did your Taxes and much to your surprise you owe IRS. Not a lot, but more then you have in your savings account. You delayed mailing your taxes because you did not have the money to pay IRS; this was your second mistake. (Your first mistake was not allowing your Employer to take more taxes out of your pay check each month) People get into trouble because they mistakenly believe ...

The Usefulness of Free Online Income Tax Software (Popularity: )
When you are ready to prepare your income tax forms, you may benefit a lot from using free income tax software downloaded online. Such downloaded income tax software programs can simplify doing your taxes employing three of the basic steps essential during income tax preparation. Free income tax software provides a more convenient data entry procedure to individuals. Manually entering relevant tax data may result in errors at times. Such errors ...

A DIY Guide For Free Online Tax Preparation Services (Popularity: )
Doing taxes is probably the single most dreaded thing that comes every year for many Americans. Many people choose not to deal with it themselves and they pay others to do their taxes by using expensive either computer software that you have to buy every year, or they simply hand their papers off to the local H&R Block professional. But what people don't know is that there are many free ...