IRS Archive

Cost Segregation give apartment owners tax relief

TweetShareSharePin0 Shares Cost Segregation give apartment owners tax relief Source: Flickr Apartment owners can face staggering expenses to maintain apartment communities. The upkeep of even a modest community could involve groundskeeping, unit renovation, and replacements, such as parking lot asphalt and fencing. Another steep expense is federal income tax – and in some areas an

The Ultimate Tax Planning Strategy

TweetShareSharePin0 SharesThe Ultimate Tax Planning Strategy Source: Flickr The taxes that are withheld from paychecks amount to about 25% of your gross pay (including federal tax, state tax, social security tax and medicare tax). But these taxes that are withheld could be working for you as investments if you employ what I call the ultimate

IRS Issues Tax Credit Amount For Toyota Camry Hybrid

TweetShareSharePin0 SharesIRS Issues Tax Credit Amount For Toyota Camry Hybrid Source: Flickr Prior to January 1, 2006, people purchasing hybrid vehicles were eligible to claim a significant tax deduction. Now they can claim a monstrously large tax credit. IRS Issues Tax Credit Amount For Toyota Camry Hybrid The government attempts to modify the behavior of

Starting a Business Accounting

TweetShareSharePin0 SharesStarting a Business Accounting Source: Flickr Starting a business can be quite trying at times. There are many things you must consider when starting a business. In addition to deciding what type of business you will start up, what the business will sell or what services the business will provide, you must also make

4 Reasons People Get Into Trouble With the IRS

TweetShareSharePin0 Shares4 Reasons People Get Into Trouble With the IRS Source: Flickr You don’t want to mess with the Internal Revenue Service. One small mix-up when handling your finances can cost you big. For example, in recent years the IRS has increased its filing of levies, liens and wage garnishments. In fact, in 2004 alone,

IRS Levy And Garnishments

TweetShareSharePin0 SharesIRS Levy And Garnishments Source: Flickr Unfortunately to many of us the Internal Revenue Service (IRS) is one branch of government that can never be our friend and is often feared by some less reputable business owners. When the IRS is owed money, they will get it whether you like it or not. For

Legalities, Issues, IRS Levy

TweetShareSharePin0 SharesAn IRS levy is an order from the Internal Revenue Security directing TVA to withhold a specified amount of an employee’s pay to satisfy a tax debt. If the IRS determines that we owe back tax then it may issue an IRS levy requiring the deductions from the pay till the back taxes are

Paying Workers – What Can You Write-Off?

TweetShareSharePin0 Shares Paying Workers – What Can You Write-Off? Source: Flickr As your business grows, you are going to need help. This help comes in the form of employees and independent contractors. What you can write-off is dependent upon how your helper is classified – as an employee or independent contractor. Independent Contractor Whenever possible,
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