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Taxes : Business & Finance

What Do I Claim on My Taxes If I Live With a Roommate?

When you share a living space with a roommate, your income tax return should only be affected in certain situations. Depending on the relationship you share with your roommate and your state of residence, your filing status could be a consideration. Further details, such as the financial arrangement

Does Irs Debt Show On My Credit Report?

Trust us, you do not want the IRS selling your property and/or belongings at auction. For one thing, they almost never get fair value, which means that you might still owe them back taxes even after they sell everything you own.

How to File Back Taxes in Missouri

Each day that your Missouri income tax return is late, interest and penalties accrue on the amount of tax you owe to the Missouri Department of Revenue. The requirements for filing back taxes in Missouri mirror that of the Internal Revenue Service, or IRS. If your unfiled return does not show an amo

Home Business Tax Deduction - Save Your Money From Taxes

Whether you are a renter or a home owner and you use part of your residence for your full or part time business, you probably qualify for the special home business tax deduction to save on your income taxes.The main advantages of a home business are that they are exempt from many government regulati

How Write off a Loss on Your Taxes

When you buy a stock, you do so in the hope that the shares will rise in value and you will make a profit. Sometimes, however, things to do not work out as you planned. When you do have a loss in your portfolio, you can write those losses off against your capital gains, or against your ordinary inco

2010 Cost of Living Adjustments

Social Security announced that they will not grant a cost of living increase for the year 2010. Based on the statuses governing Cost of Living Adjustments (COLA) for CTRB members, members who retired

How to Change a Car Registration

Every state requires drivers to register their cars, trucks and SUVs before driving them on public roads. While laws vary by state, many of the procedures are the same. You can also change your registration if you change your name, transfer the car from a parent to a child or move.

Deductible Federal Tax Items for Retired Federal Employees

Federal civil servants who receive retirement benefits from the Civil Service Retirement System or the Federal Employees' Retirement System can deduct amounts from their income benefits when they file federal income tax. Deductions protect a retiree's funds earned during government service he contri

Tax Investigation Basics

Having to experience a tax investigation by the HMRC is likely to be a difficult and costly process. It is highly likely to be expensive, intrusive, and disruptive for any business that this action might impact.

Personal Gifts That Are Tax Deductible

Most personal gifts are not tax deductible but there are exceptions to the rule.TAX TIME image by brelsbil from Fotolia.comGenerally gifts given to individuals are not tax deductible, and if these gifts exceed the Internal Revenue Service annual exclusion, they will incur a federal gift...

Goods And Service Tax - A Consumption Based Destination Tax

The Goods and Service Tax (GST), a landmark in the history of tax reforms, after the implementation of VAT, has started its journey by the Finance Minister's public endorsement of the dual GST model.The dual GST model will comprise of a Central GST and State GST. The Centre and the State will e

Bad Check Restitution Programs

Laws in most states make it a crime to write a bad check. However, many states offer first-time offenders the opportunity to complete a restitution program in lieu of defending themselves against criminal charges. These programs facilitate repayment to creditors and teach those who write bad checks

Does Itemizing A Tax Return Save Money?

If you are like most Americans, you are already thinking of every possible way to add dollars and cents to your tax return come April. One thing that many workers overlook is itemization.

How Does Unearned Revenue Arise?

Companies may consider a revenue as realized after receiving cash from customers, but may not recognize it in accounting books as earned until later based on revenue recognition principle. Unearned revenues often relate to products or services that companies deliver or perform over multiple accounti

If Unmarried, Who Claims the Child on Income Taxes?

The Internal Revenue Service tax code provides multiple tax advantages to taxpayers with a dependent child. Tax breaks include qualifying as head of household or claiming earned income tax credits. Unmarried parents filing separate returns cannot both claim the child.

IRS Taxes & Garnishment

The Internal Revenue Service is serious about collecting on your overdue taxes. It has broad authority from Congress to take a variety of steps to ensure collection, including lawsuits, liens on property, levies on bank accounts and other financial assets, garnishment of wages and even criminal pros

How to Transfer an Inheritance to a Trust

Inheriting assets is a small consolation after losing a loved one. This consolation may come with the added burdens of figuring estate taxes and determining the best course action to take with the inheritance. The money is now yours to invest and use, based on your financial needs and goals. Placing

Can I Withdraw My RRSP Deduction Limit?

A registered retirement savings plan is a tax sheltered retirement vehicle for Canadian taxpayers. Stocks, bonds, guaranteed investment certificates, cash and other financial instruments are eligible RRSP investments. Canadians can open RRSP accounts at banks, online brokerages and other financial i