The Baby Boomer GenerationThe Baby Boomer GenerationBaby Boomer Taxing Issues and Resolutions 
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Tax Debt Help - Qualified Tuition Plans
2008-02-08 17:24:00 Qualified Tuition Plans Qualified Tuition Plans (QTPs), or Section 529 plans, offer two different ways to help defray the cost of college: College Savings Plans that allow students of all ages to save for college costs or Prepaid Tuition Plans that lock in today’s tuition rates at any of a state’s eligible public colleges or universities. QTPs ... More About: Debt
Tax Debt Help - Education Funding
2008-02-08 17:23:00 Additional Ways to Fund Education Financial aid helps meet the expenses of a college education, including tuition fees, books, housing, food and transportation. Financial aid is available through campus work programs, loans and scholarships. Contact the financial aid office at the college of your choice for more information about university-sponsored programs and scholarships. Federal grants and loans Low-interest ... More About: Funding , Debt
Tax Debt Help - Building Retirement Income With Annuities
2008-02-08 17:22:00 Building retirement income with annuities Annuities may help you provide additional retirement income by allowing you to accumulate tax-deferred savings and then receive periodic payouts for a specified period of time, beginning now or at a later date. Annuities are commonly used to supplement your monthly retirement income already received from your IRA and 401(k) plans. Common ... More About: Building , Retirement , Income , Debt
Tax Debt Help - 2008 Tax Calendar
2008-02-08 17:17:00 Date Description 01.02.2008 File Form 2290 - Heavy Highway Vehicles 01.15.2008 4th Estimated Payment Due Farmers and fishermen. Estimated tax for 2006 Due 01.15.2008 Employers Make Monthly Payroll tax deposit 01.31.2008 Furnish W-2s/1099/1098s to recipients 01.31.2008 File Quarterly/Annual Payroll/Sales Tax Returns 01.31.2008 Individuals - Filing personal return and pay all taxes Without Penalty if January 15, 2008 estimated payment missed NEW 02.15.2008 File new W-4 with Employer if you claimed ... More About: Debt , Calendar
Tax Debt Help - Stimulus Package On It?s Way
2008-02-08 17:14:00 The Senate produced their version of the stimulus package.The House signed off on it.Now, it?s sitting on President Bush?s desk to pass into law.Once that happens, refunds should be heading your way in a couple of months. Perhaps in time for spring or to pay your tax debt! S. Raines, Sr. Financial Advisor/Tax Preparer ... More About: Debt , Package
Tax Debt Help - What is a Mutual Fund?
2008-02-08 02:02:00 What is a Mutual Fund ? A mutual fund pools your money with other investors’ and the capital is used to invest in a diversified portfolio of securities. Mutual fund s are professionally managed to pursue each fund?s specific goal. As an investor in a mutual fund, you become a shareholder in a large portfolio of stocks, bonds and/or ... More About: Debt
Tax Debt Help - Investing in Bonds
2008-02-08 01:59:00 A bond is an interest-bearing or discounted government or corporate security that calls for the issuer to pay you, the bondholder, a specified sum of money, usually at specific intervals, and to repay the principal amount of the security at maturity. As a bondholder, you essentially have an IOU from the issuer but no corporate ownership ... More About: Investing , Bonds , Debt
Tax Debt Help - Don?t Let the IRS Seize Your Assets
2008-02-04 21:16:00 You have 30 days from the date of the Notice Of Levy issued by the Internal Revenue Service to pay in full or to find another solution. Ignoring this notice or doing nothing, will only make matters worse. Analyze your situation to find the best course of action for you and avoid the levy. Once the ... More About: Debt
Tax Debt Help - Strategies for your Investments
2008-02-03 18:35:00 Five strategies to bring in the New Year. Your investment and tax planning should go hand in hand. The time is now to review your financial situation and make needed adjustments that can help save you money at tax time. Here are a few year-end tax-smart investment tips to consider: 1. Review your portfolio. See if it is ... More About: Strategies , Debt , Investments
Tax Debt Help - IRS Form You Should ?Never? Sign
2008-02-03 17:47:00 There are forms an Auditor may ask you to sign that can take away your rights. You could lose your right to appeal, your right to claim deductions and your right to prevent enforced collection action. Form 872 is one of these forms. It extends the amount of time the IRS can take to assess a tax ... More About: Debt , Sign
Tax Debt Help - Alimony and your 1040
2008-02-01 19:49:00 You ladies and sometimes men also, who are recipients of alimony should realize that this is reportable and taxable. It is taxable income for the recipient and is a tax deduction for the payer. Alimony received is reported on Form 1040 Line 11. Alimony paid is reported on Form 1040, Line 31. Alimony Received You must report the ... More About: Debt
Tax Debt Help - Filing Frivolous Returns
2008-02-01 15:58:00 A frivolous return is one that does not contain enough information to calculate any tax. And the return can contain information that obviously shows the tax being claimed is erroneously incorrect. The IRS enacted this penalty in an attempt to lower the incidence rate of tax protest activities. Tax protest activities include: Protesting military expenses by claiming ... More About: Debt
Tax Debt Help - EITC Awareness Kicks Off Today; Free Tax Help Available
2008-02-01 15:35:00 EITC Awareness Kicks Off Today ; Free Tax Help Available WASHINGTON ? The Department of Treasury, the Internal Revenue Service and scores of community partners nationwide today kicked off EITC Awareness Day to promote the refundable tax credit for low-wage workers and options for free tax preparation. January 31 ? designated as EITC Awareness Day by the IRS ... More About: Debt
Tax Debt Help - Free Tax Help for Low-Income, Elderly Taxpayers
2008-02-01 15:31:00 IRS Partners Host Free Tax Help for Low-Income , Elderly Taxpayers WASHINGTON ? Nearly 12,000 free tax preparation sites will be open nationwide this year as the Internal Revenue Service continues to expand its partnerships with nonprofit and community organizations performing vital tax preparation services for low-income and elderly taxpayers. The IRS Volunteer Income Tax Assistance (VITA) Program ... More About: Debt
Tax Debt Help - IRS Warns of New E-Mail & Telephone Scams
2008-01-30 22:18:00 Issue Number: IR-2008-011 Inside This Issue IRS Warns of New E-Mail and Telephone Scams Using the IRS Name; Advance Payment Scams Starting WASHINGTON ? The Internal Revenue Service today warned taxpayers to beware of several current e-mail and telephone scams that use the IRS name as a lure. The IRS expects such scams to continue through the end of ... More About: E-Mail , Debt
Tax Debt Help - Timing of Snipes Trial Couldn?t Be Better for IRS
2008-01-30 20:48:00 http://www.cnn.com/2008/CRIME/01/29/snipe s.trial.ap/index.html OCALA, Florida (AP) — Even Hollywood couldn’t have written a more ideal script for the Internal Revenue Service than actor Wesley Snipes’ tax-fraud trial.At a time when millions of Americans are buckling down to prepare their taxes, Snipes is being cast as a villainous example of the dangers of joining with Internet-fueled activists who claim ... More About: Trial , Debt , Timing , Most Wanted
Tax Debt Help - Deductions & Credits
2008-01-29 21:05:00 The goal of every taxpayer whether individual, self-employed, small business or corporations is to lower your tax liability. In a word, ?deductions lower your taxable income, and credits lower your taxes?. Below is a list of links that will provide you with a brief description of those deductions and credits and ultimately?..?lower your tax liability?. Tax Deduction ... More About: Debt , Credits
Tax Debt Help - Retirement Fund Early Withdrawals and the Tax Penalty
2008-01-29 18:20:00 As a veteran tax preparer, I have found that there are lots of reasons why folks don’t file returns. But one of the biggest reasons is the early withdrawal of retirement funds. Most of the time they don’t elect to have federal tax withheld. Then when it comes time to file and that 1099-R arrives in the mail, ... More About: Retirement , Debt , Early , Fund , Penalty
Tax Debt Help - Traditional IRA vs. Roth IRA
2008-01-29 18:09:00 What is an IRA?An IRA or Individual Retirement Account is a plan that allows you to contribute a portion of your after tax earned income each year. If you are 50 or older, you can contribute even more to your IRA. Almost anyone can contribute to an IRA if they have earned income for the ... More About: Debt , Roth , Traditional
Tax Debt Help - Foreclosure Tax Consequences
2008-01-28 22:43:00 Every day, we are hearing that the real estate market seems to be in shambles, lenders have tightened up and thousands of people are having their properties foreclosed upon. While most foreclosures are made on personal residences, rental markets are also now leading to foreclosures on investment properties also. Foreclosure s can be a taxable event, and the tax ... More About: Debt , Consequences
Tax Debt Help - What do you do if the IRS shows up at your business?
2008-01-28 22:37:00 IRS agents don’t typically make it a habit of showing up unannounced at a taxpayer’s business location. If they do, it is almost always due to unpaid taxes–and more specifically–unpaid payroll taxes. And while they are there, everything is fair game. They might want to look at your company checkbook, your cash register, your sales receipts–anything ... More About: Business , Debt
Tax Debt Help - How Much Are Your Gifts Worth?
2008-01-25 22:15:00 You can’t help but love TAXMAMA, or at least I do, she publishes some dynamic tax information and sometimes I just love to share all her knowledge and humor. The following article deals with how much gift giving you do to your clients or customers and how it’s should be claimed on your business returns. Take heed, ... More About: Gifts , Debt , Worth
Tax Debt Help - Decrease Your Chances of An Audit
2008-01-25 21:59:00 Found a nice list online tonight about some suggestions on how to avoid an audit. Of course being honest is the best policy ?cause the IRS can make your life very miserable if they want. So some things to watch: Self Employed take notice. It should go without saying that certain jobs would attrack more attention ... More About: Debt , Audit , Chances
Tax Debt Help - Tax Game Patent
2008-01-25 21:51:00 I was reading through some “Taxalicous” article and come across some real humor. Decide it was worthy of sharing…………… ;….. Yeah, we all enjoy taxes so much that we want to sit around playing a board game in the off season. In an earlier post we introduced you to ?Audit - The Tax Game ? but now we ... More About: Debt , Patent
Tax Debt Help - ?Audit - The Tax Game?
2008-01-25 21:45:00 Interesting article by a writer at the Charlotte Observer who compares doing taxes with preparation software to playing a video game.?It?s really easy to look at that running total and play with the numbers until you get the one you like,? says Los Angeles-based tax expert Eva Rosenberg, who runs advice Web site TaxMama.com. ?But ... More About: Game , Debt , Audit
Tax Debt Help - Nontaxpayer?s Audit Defense Manual
2008-01-25 21:42:00 The Nontaxpayer?s Audit Defense Manual is used for ?nontaxpayers? only who will be going through an IRS audit. This manual is not intended or authorized to be used for ?taxpayers?, or as a ?tax shelter? or way to reduce the liability of a ?taxpayer?. S. Raines, Sr. Financial Advisor/Tax Preparer ... More About: Debt
Tax Debt Help - Guide for Capital Gains
2008-01-22 19:31:00 Capital gains are the profits earned on an investment in stocks, bonds, mutual funds, real estate, or collectibles. The following is a brief description of the types of capital gains that are reportable on your tax return. Capital Gains Tax: Essential Tax Tips for Capital Gains & Losses A capital gain is the difference between what ... More About: Guide , Debt , Capital
Tax Debt Help - The Right Form for You
2008-01-22 19:25:00 Form 1040EZ (the shortest tax form) You can use Form 1040EZ, the shortest and easiest federal tax form, if: · Your total income is under $100,000 · Your interest income is under $1,500 · You have income only from wages, interest, unemployment compensation, and Alaska Permanent Fund dividends · You and your spouse are under 65 ... More About: Debt , Form
Tax Debt Help - Effective Tax Debt Strategies
2008-01-22 18:45:00 If you owe a tax debt, there are several basic approaches to paying it. For starters, if the amount is not in doubt and it can be paid over time, an IRS installment agreement may be in order. The Installment Agreement (Form 433-D) is signed by the taxpayer and an IRS collection supervisor, and is essentially ... More About: Strategies , Debt , Effective , Levies
Tax Debt Help - America?s ?Fair Tax? Future
More articles from this author:2008-01-21 19:46:00 This is an article that was posted on About.com: US Government Info by Robert Longley entitled ?Is a ?Fair ? Tax In America ?s Future ??. And rather than giving you a link and you possibly ignoring the link, I wanted to replicate the story for you. This is a must read article! No more federal income tax… if ... More About: Debt , Fair Tax 1, 2, 3 |
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