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Most Recent Articles
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- Don't Pay Higher Tax Because You Are Self-Employed!
It is easy to see why a self-employed individual would see the self-employment (SE) tax as unfair. While in an organization, that same employee would have to pay taxes amounting to roughly 7.65 percent. However, as a self-employed individual, those same federal taxes run approximately 15.3 percent. One of the ways to mitigate this tax is to fill out Schedule C. The following points demonstrate the good and bad qualities of Schedule C, something every self-employed individual should be aware of. - Tax Refund Anticipation Loan - Consumer Advisory
A new concept has been introduced to the tax season called the refund anticipation loan. You may have seen some TV commercials offering this service. In the past, people have prepared their taxes, sent the information off to the government and then waited for a check or a direct deposit to arrive. However, some tax preparation services are offering to give you the money in just 1-2 days but the catch is that it is a loan. The loan period lasts about 10 days which results, effectively, in an astronomically high interest rate. The tax refund is your money, but by opting for this choice, you will eventually be paying a big chunk of that refund to your tax service. It would be wise to use some caution and figure out the costs and benefits ahead of time before you agree to this. - Worst 10 Cities for Tax Procrastination
Do you often procrastinate filing your income tax return? If you do, you're not alone, especially if you live in one of the cities listed below. A leading tax software package provider tallied the returns that were filed between April 14th and April 17th, and these are the cities with the highest number of procrastinators. - Stop Tax Procrastination - Discover 10 Tax Tips to Help Small Businesses
Do you cringe when thinking about preparing a tax return for your small business? Do you wait until the final day hoping for inspiration? You can stop doing this now. This guide to tax deductions which help small business owners is also designed to help you stop waiting until the last minute to file your taxes. - Facing a Tax Audit - Do You Need Tax Attorney?
Because there are so many different types of taxes, tax law is an extremely specialized area of expertise. This implies that not every lawyer has the same expertise in every kind of tax issue, and as a result you would be wise to prepare thoroughly, and spend more time researching good tax lawyers than you would normally do with problems that require any other kind of legal expertise.
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