Author Archive
What are some of the common overlooked tax deductions?
Posted by admin in Tax Questions on September 4th, 2010
Curious what are some common overlooked tax deductions people miss when filing?
New Tax Breaks for 2009, 2010 Tax Year
Posted by admin in Tax Questions on September 2nd, 2010
New Tax Breaks for 2009, 2010 Tax Year www.harborfinancialonline.com
using your personal vehicle as tax deduction?
Posted by admin in Tax Questions on September 1st, 2010
in filing taxes i want to use my leased suv ..in im tubro tax but im confused i dont own a business and did not use this vehicle to deliver goods or anything like that for work but did drive it to and from work and used much gas does it qualify to go under deductions even though it wasnt used for my own business
How much well I get to write off for tax deductions if I donate books?
Posted by admin in Tax Questions on August 28th, 2010
I have quite a lot of old books I need to get rid of and am considering donating them if the tax deductions are significant. Does anybody have experience with donating books? How would the books get valued?
I've been filing a business write-off on my personal taxes. How do I close out the business on my tax return?
Posted by admin in Tax Questions on August 27th, 2010
I am a writer who has filed business write-offs on my personal tax return for 5 years as per the law. I have not made profits in those years. I have been advised by my accountant that tax regulations do not favor my continuing to file business write-off because I have not made a profit so should close out the writing business. How do I go about filing my taxes now? Do I just ignore the past years write offs as thought they were never deductions?
Tax breaks on short sales
Posted by admin in Tax Questions on August 26th, 2010
www-myoffers.com Suzie Orman talks about tax relief you are entitled to when you sale through a short sale. In the video it is discusses that you do not owe income tax of the loan forgiveness from a primary home bought or improved between the 1st of January 2007 and the 31st of December 2009. She also talks about private mortgage insurance that is paid by those earning under a hundred thousand a year income, this private mortgage insurance is tax deductable. And many more tax breaks are covered. For information on short sales and avoiding foreclosure look at your options at www-myoffers.com
Invested Money in Small Business as Partner - Tax deductions possible?
Posted by admin in Tax Questions on August 21st, 2010
I invested 3K in start-up money with 2 other guys plus spent another 4K in misc. such as travel costs, supplies, etc. and we haven’t taken a salary or any income and are actually barely breaking even. Can I get any tax benefits for my personal income tax by having invested in this business?
Thanks.
LLC is the entity. Will not be changing that. I also live 2 states away and will not be able to just go see a tax pro together with the 2 other partners. The solution will have to be individually solved for each of us. They both have multiple other businesses it is just not going to be us going to see the same personal accountant.
Thanks.
This is about my personal taxes, not the LLC which will be done by the company’s CPA. I will get a K-1 at the end of that process? I also don’t do my own taxes. I’m trying to figure out if a. I can take deductions and b. what I need to give to my accountant to get the deductions and c. what are the questions I should be asking my partners prior to doing my own personal taxes. So far it looks like I should be asking to see a Schedule K-1.
Lawmaker: Tax Breaks For Businesses Will Create Jobs
Posted by admin in Tax Questions on August 21st, 2010
Rep. Pete Hoekstra, (R-MI), says creating a more equitable tax code for businesses would help the economy more than the stimulus has.
How do I calculate tax deductions?
Posted by admin in Tax Questions on August 20th, 2010
I am interested in learning how to calculate my own tax deductions. I have some, I know that are deductible (i.e. daycare, mileage to and from work, student loans, gas receipts). I would like to find out if there is a way that I can calculate this to see what I might be getting back from taxes. My husband is military and he and I are planning on using his mileage and gas receipts as well.
Thanks.
What are the tax benefits of owning your own home?
Posted by admin in Tax Questions on August 17th, 2010
What personal income tax deductions can you make on your yearly tax returns when you own your own Personal home?
Tax Breaks for Self-Employed Individuals and Small Business Owners
Posted by admin in Tax Questions on August 14th, 2010
Andrew Schwartz CPA explains three ways for self-employed individuals and small business owners to save taxes.
What can I do to maximize my tax deductions?
Posted by admin in Tax Questions on August 14th, 2010
I’m a 24 single female with no dependants who rents an apartment, is paying on a car, and did take a trip overseas for a potential job opporutnity (paid for the expenses myself). What can I do to maximize my tax deductions?
Looking for help to find personal tax allowances and deductions when working.?
Posted by admin in Tax Questions on August 12th, 2010
Wish to maximise my tax refund and get more money back
Sanders fights Bush Nominee on WalMart tax breaks
Posted by admin in Tax Questions on August 8th, 2010
Last week, US Senator Bernie Sanders (I-VT) grilled White House budget director nominee Jim Nussle at Nussle’s Senate confirmation hearing. Sanders forced Nussle to go on record admitting that at a time the White House is trying to prevent better-funding children’s health care programs, he supports giving the members of Wal-Mart’s Walton family alone a tax break worth more than billion. Text above from David Sirota at www.workingassetsblog.com
Tax Deduction or Tax Credit for Compact Fluorescent bulbs into personal residents?
Posted by admin in Tax Questions on August 7th, 2010
Does anyone know if there is a tax credit or deduction for compact fluorescent bulbs installed into personal residents? If so, could you tell me the tax code or tell the form I need to fill out.
Thank you in advance,
Philly Guy.
