Updated Articles and Resources
- QuickBooks 2010 Software ReviewCreated: 2009-11-18 @ 17:17:33 EST Updated: 2009-11-19 @ 16:18:54 EST
Quickbooks 2010 is a powerful small business accounting software package. For the 2010 version, Intuit has added support for multiple currencies and made it easier for accountants to systematically… - Tax Rates - Marginal Tax Brackets and Ordinary Income Tax RatesCreated: 2009-10-27 @ 01:37:13 EDT Updated: 2009-10-27 @ 19:50:24 EDT
Overview of tax brackets and marginal tax rates for 2010 and previous years, along with projections for 2011… - Adjusting Tax Withholding - How to Figure out How Many Withholding A…Created: 2009-10-05 @ 20:50:25 EDT Updated: 2009-10-05 @ 22:15:34 EDT
Revising your paycheck withholding involves several steps. In this article I walk you through all the steps I take whenever a client ask me to review their current level of withholding. The key is … - Employee Stock Purchase Plans - Planning for Capital Gains Taxes on …Created: 2009-09-20 @ 00:12:03 EDT
Shares of company stock purchased through an Employee Stock Purchase Plan (ESPP) is subject to different tax treatment compared to other investments. Part of the gain is taxable as compensation inc… - Installment Agreements - Types of Installment Agreements for Federal…Created: 2009-08-17 @ 21:02:02 EDT Updated: 2009-08-17 @ 21:15:00 EDT
A monthly payment plan is generally the easiest way to set up an arrangement to pay off any taxes owed to the Internal Revenue Service. There's four different types of installment agreements offere… - American Opportunity Tax Credit - Federal tax credit of up to $2,500…Created: 2009-07-25 @ 16:37:45 EDT Updated: 2009-07-25 @ 16:55:53 EDT
The American Opportunity Tax Credit provides up to $2,500 for people pursuing undergraduate education. Replacing and expanding on former the Hope credit, the American Opportunity credit is schedule… - FBAR - Tax GlossaryCreated: 2009-07-24 @ 15:26:25 EDT
FBAR is the foreign bank account report… - Can Two Taxpayers Share the Same Dependent? - How to Split the Tax B…Created: 2009-07-17 @ 19:50:00 EDT
The way the tax laws are written, only one person can claim a dependent on their tax return. Two parents may be able to both claim tax breaks associated with a child, provided the custodial parent … - Health Savings Account Deduction: Tax Deduction for Health Savings A…Updated: 2009-12-09 @ 15:59:13 EST
Contributions to a health savings account (HSA) are tax deductible. Tax deductions are limited to $2,900 for individual insurance coverage and $5,800 for family insurance coverage for tax year 2008… - Contacting William Perez, the Guide to Tax Planning: US…Updated: 2009-12-08 @ 18:49:22 EST
Find out how to contact William Perez, a tax professional and guide in charge of taxes.about.com… - Year End Tax TipsUpdated: 2009-12-08 @ 01:42:14 EST
Here's a list of simple tax moves you can do before the end of the year to keep your income taxes as low as possible… - Charity Donations are Tax DeductibleUpdated: 2009-12-08 @ 01:34:19 EST
Donations of cash and property to qualified non-profits are tax deductible. To be deductible, taxpayers must keep records of their contributions, especially of any gifts over $250. For non-cash con… - Must Reads: Essential Articles and Resources about TaxesUpdated: 2009-12-08 @ 01:27:01 EST
- How to Fill Out Form W-4Updated: 2009-12-07 @ 14:05:17 EST
Filling out a W-4 is one of the first things you do when you start a new job. You may want to fill out a new W-4 if your financial situation has changed. Use Form W4 to increase or to decrease your… - What's the Safest Way to Get a Tax Refund? Be Wary of Direct DepositUpdated: 2009-11-30 @ 16:52:49 EST
The IRS can deposit your tax refund directly into your checking or savings account. This is the IRS's preferred method of sending out refunds. But taxpayers should exercise extra diligence with the… - Reporting of Credit Card & Merchant Payments to the IRSUpdated: 2009-11-24 @ 00:29:11 EST
Income received through credit and debit card transactions will be reported to the Internal Revenue Service starting in the year 2011. Part of the Housing Assistance Tax Act of 2008… - First-Time Home Buyer Tax Credit - Up to $8,000 Federal Tax Credit f…Updated: 2009-11-23 @ 15:11:59 EST
There's a new, refundable tax credit of up to $7,500 for the purchasing a primary residence. The credit is available to first-time homebuyers who purchase a primary residence after April 9, 2008, a… - QuickBooks 2008 Software ReviewUpdated: 2009-11-10 @ 19:59:30 EST
Quickbooks 2008 is a powerful small business accounting software package. For the 2008 version, Intuit has made it easier to share data with your accountant, track time spent on client projects, an… - QuickBooks 2009 Software ReviewUpdated: 2009-11-10 @ 19:58:52 EST
Quickbooks 2009 is a powerful small business accounting software package. For the 2009 version, Intuit has added support for multiple currencies and made it easier for accountants to systematically… - Foreign Earned Income Exclusion - IRS Form 2555Updated: 2009-11-03 @ 05:29:29 EST
Americans working abroad can exclude up to $91,500 per year from their US taxable income. Find out about the foreign earned income exclusion (IRS Form 2555), along with helpful tips for preparing a… - Personal Exemptions - Claiming Personal Exemptions for Yourself and …Updated: 2009-11-03 @ 05:16:02 EST
Taxpayers are entitled to claim one personal exemption for themselves and each dependent… - Adoption Tax Credit - How to Claim the Adoption CreditUpdated: 2009-11-03 @ 04:47:35 EST
You qualify for the adoption tax credit if you adopted a child and paid out-of-pocket expenses relating to the adoption. … - Microsoft Office Accounting Professional Software ReviewUpdated: 2009-11-02 @ 19:53:49 EST
Microsoft Office Accounting Professional is a decent accounting software program for small businesses. Featuring tight integration with other Microsoft Office applications, Office Accounting is a g… - Standard Deduction - Claiming the Right Standard Deductions Helps Lo…Updated: 2009-10-27 @ 11:16:48 EDT
Taxpayers can opt to take a standard deduction (a flat dollar amount that reduces taxable income) or itemize their deductions instead. The standard deduction amount varies by a person's filing stat… - US Withholding for Canadian WorkersUpdated: 2009-10-22 @ 20:43:36 EDT
Canadian citizens who have income from US sources should fill out Form W-8BEN to claim a reduce amount of income tax withholding. Find out how to qualify for benefits under the US-Canada Tax Treaty… - IRS Tax Penalties & Interest: Late Filing, Late Payment, and Interes…Updated: 2009-10-20 @ 11:22:27 EDT
If you owe taxes, the IRS will calculate penalties and interest on the amount owed. If you have a refund, the IRS may pay you interest on the delayed refund… - Report of Foreign Bank and Financial Accounts (TD F 90-22.1)Updated: 2009-09-17 @ 18:27:34 EDT
You must fill out Treasury Department Form 90-22.1 every year if you own, or have an interest in, any foreign bank accounts. I'll tell you what you need to know in order to fill out TD F 90-22.1 ac… - Estimated Taxes: Figuring How Much to Pay in Estimated TaxUpdated: 2009-09-04 @ 20:05:12 EDT
Paying estimated taxes is one way for individuals to submit payments for their taxes to the federal government. Find out how to calculate how much estimated tax to pay to avoid any IRS penalties… - Education Credits - Hope and Lifetime Learning Tax CreditsUpdated: 2009-08-25 @ 19:12:14 EDT
You can reduce your taxes by claiming a tax credit for education expenses. Learn about the Hope Credit, the Lifetime Learning Credit, and other information for Form 8863… - Offer in Compromise: Settle Your Tax DebtUpdated: 2009-08-24 @ 22:12:22 EDT
You might be eligible to settle your tax debt for less than what you owe through the Offer-in-Compromise (OIC) program from the IRS. The IRS revised their instructions and forms for the offer progr… - Help with Tax Debt: 5 Ways to Reduce Your Tax Debt and Find ReliefUpdated: 2009-08-17 @ 23:37:14 EDT
There are five ways to get out of tax debt. Learn what your options are for reducing and paying off your tax debts, and how to protect yourself when hiring a tax professional… - IRS Payment Plan - How to Request an Installment Agreement to Pay Ta…Updated: 2009-08-17 @ 23:32:35 EDT
Setting up an IRS payment plan is an easy way to pay taxes. Find out how to request an IRS installment agreement quickly and easily…