Earned Income Tax Credit

What Is The Earned Income Tax Credit?

The earned income tax credit was established in 1975 to combat trends that have led to a high child poverty rate, and boosting the incomes of low and moderate income workers. Another goal of the credit is to help welfare recipients make the transition back to work. The earned income tax credit is available to [...]

Married And Filing For The Earned Income Tax Credit

When trying to qualify for the earned income tax credit you or your spouse must satisfy the age test if filing a joint tax return. You can not be a dependant of another taxpayer, and are not a qualifying child of another taxpayer. If married and filing a joint tax return you must include your [...]

Businesses Should Consider Non-Qualified Deferred Compensation Arrangements

“Non-qualified deferred compensation” may should like a term that only a tax attorney could love, but, in actuality, it is a term that businesses should love just as much. Non-qualified deferred compensation allows businesses to recognize significant tax savings. This article describes how.

Filing Your Taxes the Right Way

When doing something, it is better to do it right once than wrong so many times. The same goes for filing taxes. Doing it right means less trouble for you.

Employ Your Children

Hire your kids instead of paying them an allowance! It is quite common to see children actively involved in the family business.

Get 60 From the IRS – for the Price of a First-Class Stamp!

The IRS is waiting to give millions of Americans and small businesses refund checks of $30-$60 for excess tax levied on long-distance phone service. The one-time refund, listed on the 2006 form 1040, was overlooked by an estimated 10 million filers, in addition to 15 million households earning so little money they were not required to file in 2006. Who qualifies for the refund? If you have a pulse you’re good to go! All you need to do is print out a simple form on the IRS website, fill in two lines, sign it and drop it in the mail. Who says you can’t earn money stuffing envelopes?

Special Tax Deduction For Special Needs Cases

Special needs children create expenses that a regular family never has to experience. Luckily, the IRS realizes this and has created special tax deductions for these cases.

Failing to File a Tax Return is More Dangerous Than Ever

If you think not filing your tax return is a good idea, think again. The 2001 IRS “Tax Gap” study specifically cited non-filings as a serious non-compliance area that the IRS will aggressively pursue. If you still haven’t filed yet, get ready to be found!

For Beginners – How to Keep the IRS Off Your Back

Below I outline some simple tricks ans steps to keep the IRS off your back. I also include form types and income needing to be reported, so that you can fill your return out fully and accurately.

UK Tax Allowance Revisions in Budget 2008-09

10% rate gone. Tax allowances increased but not NI bands. Can you take advantage of the changes to tax rates? Do you know what you need to do

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