Earned Income Tax Credit

Take Control Of Your Finances With Professional Tax Planning

Anyone who earns their own money and has a regular income really should plan their taxes very carefully. Professional tax planning is a must. That is to ensure that they do not get into any problems that can be caused through a misunderstanding of the tax laws. It is strongly advised that a qualified tax [...]

Rapid Tax Refunds: Considered Harmful

One in 10 Americans will take out rapid-refund anticipation loan option from their tax preparation service this year. This is essential a very short term loan, only a few weeks, between when you take the rapid refund and when the government issues the amount due to you. However, since the duration is so short, many [...]

5 Tips To Maximize Your Tax Breaks

What’s the difference between a taxidermist and a tax collector? Humorist Mark Twain says, “The taxidermist only takes your skin!” That’s the opinion of many Americans. Indeed, ridiculously high tax bills seem prevalent. Thankfully, tax breaks give you legal options to keep more of your money for yourself and away from the government. The income [...]

Save Money On Your Taxes. See What You Can Deduct!

There are many different ways to file for taxes, it is very tedious work. There is software you can purpose and do them online. You can also go to an accountant. You can gather all the documents and prepare them by hand yourself. No matter what method you use, you still need to collect all [...]

Don’t Pay Higher Tax Because You Are Self-Employed!

Due to the high self-employment (SE) tax all the self -employed people are very annoyed. There is a valid reason for them being frustrated; SE Tax is double the federal payroll tax. A self-employed person has to pay 15.3% of SE Tax whereas an employee just pays 7.65% federal tax. A Schedule C filer is [...]

Here Is How To Economize On Your Taxes And On Your H&R Block Tax Preparation Software

End of the year tax planning may dampen the Holiday mood a little but that’s no reason to avoid doing it. Turn your thoughts around and consider how ecstatic you’ll be when you find you can legally implement legal tax secrets to lower the amount you’ve got to pay the Fed and state governments. Every [...]

Here Is How To Economize On Your Taxes And On Your H&R Block Tax Preparation Software

End of the year tax planning may dampen the Holiday mood a little but that’s no reason to avoid doing it. Turn your thoughts around and consider how ecstatic you’ll be when you find you can legally implement legal tax secrets to lower the amount you’ve got to pay the Fed and state governments. Every [...]

Give to Relief in Haiti – Get Immediate Tax Deduction on 2009 Tax Return

Raleigh NC Accountant A few days ago in a email news post I made the distinction that the Haiti disaster is now a qualified disaster says the IRS (http://www.irs.gov/newsroom/article/0,,id=218615,00.html). I said in the email that the IRS was rumoring that people are able to make a deduction for contributions to Haiti on the current year’s [...]

A Short Timeline of Taxation Practices of the USA, Chapter 3

Raleigh NC CPA W. Marc Gilfillan, CPA, NC, individual and business CPA and Tax expert, shares about the history of taxes… So the question remains, what happened with taxes in the US? US tax makers have been collecting what they have been sowing for a long time. Our honor system has been trumped by a [...]

A Brief Timeline of Taxation of the United States, Chapter Two

Raleigh NC Accountant W. Marc Gilfillan, CPA, NC, individual and business CPA and Tax expert, shares about the history of taxes… 1861 – After Lincoln’s election, southerners walk out of Congress and create the Confederacy with a new constitution to sustain the new government power to tax in check. 1862 – The beginning of US [...]