It’s quite simple – the more deductions you have for your small business, the less taxes you will pay on your return. Don’t cheat yourself out of any deductions, but by the same toke...
With many people pinching pennies and looking for ways to save money and make do with less, we’ve put together a list of overlooked tax deductions that qualified taxpayers shouldn’t pass u...
With sky-high gas prices, it is a struggle to find the bright side of high prices. You might be saying, “is there really any bright side to high gas prices?” Well, there is one br...
For years, Colonel Harland Sanders carried the secret formula for his Kentucky Fried Chicken in his head and the spice mixture in his car. Today, the recipe is locked away in a safe in Louisville, Ken...
Often, business owners wonder what they may or may not deduct. Often, business owners and those incurring deductible travel expenses for their employer, conservatively deduct expenses, opting to...
It is imperative that business owners correctly determine whether individuals that provide services are properly classified as employees or independent contractors. For an employee, a busines...
Income taxes are known as a "pay as you go" tax. For most taxpayers, this generally occurs automatically through income tax withholding on your paycheck. However, for any income that you have that i...
If you claimed the First Time Homebuyer credit for a home purchased in 2008 and the home remained your main home during 2010, you are required to begin repaying the credit in equal payments over 15 ye...
Beginning in 2010, all taxpayers are eligible to roll over or convert amounts from a traditional IRA into a Roth IRA regardless of their level of income. However, that doesn’t necessarily mean t...
With 2010 coming to a close, there a number of year-end tax tips that taxpayers can utilize for their tax planning benefit. Generally, these fall under one of two areas: accelerating or deferring inco...