There are plenty of tax deductions that people often forget to utilize when they file their returns. If we believe the annual reports published by IRS, the most common mistake that people make is in entering their social security number – they either forget to enter it at all or enter wrong digits. This example is a proof that when it comes to making mistakes, the opportunities out there are almost unlimited. The fewer mistakes you make, the higher amount of money you can save in taxes. So, here you go; following is a list of forty-five most common deductions that are often overlooked.
3 Common Tax Deductions That People Often Miss
July 17, 2010 By
There must be times when you file your return and then you realize after a couple of weeks that you actually missed on some great opportunities for tax deductions. You are not the only one; many people skip some good chances to keep their taxes low, mainly because of lack of planning. So, roll up your sleeves and start planning now.
5 Proven Strategies to Save Your Tax Record from Identity Theft
July 17, 2010 By
The possibility of an audit and a situation when you are unable to pay your taxes are some of the scariest things that one may have to deal with during the tax season. Identity theft is an equally horrible factor, but unfortunately, people often overlook such things. The incidences of ID theft have been increasing rapidly with every passing year. More and more people are becoming its victims. The number of such incidences increases much faster when the tax season comes. Therefore, it is crucial for you to learn how to protect your tax record from such threats.
Tax Bankruptcy
June 28, 2010 By
The various bankruptcy laws have provided two options for tax bankruptcy. The first option is to file bankruptcy under chapter 7 where all the assets of the taxpayer will be liquidated or sold off. The second option is to file bankruptcy under chapter 13 allowing the taxpayers to continue with their business activities while paying off their debts on a specific repayment plan as suggested by the bankruptcy court. Following are some of the important things that you must be aware of regarding the tax bankruptcy before you file for bankruptcy.
Things To Be Considered While Hiring A Tax Attorney
June 28, 2010 By
Do you owe the government taxes? Is the IRS auditing you? Are you being accused of committing tax crime? If you answer affirmatively in one or more of the above-mentioned queries, then you certainly needed the services of a tax attorney. Once you have decided to hire the services of an online tax attorney, how are you to choose the right one?
Real Estate Tax Lawyer : Needed For Various Reasons If You Own A Property
June 28, 2010 By
For resolving any issue regarding property taxes, appraisal of property and ownership, you must approach a real estate tax lawyer. When you own a property, you have to pay tax on it. The amount of this tax depends on the appraisal of your property and many discrepancies occur during the appraisal of the property. If you are also facing such problems, it is advisable to hire the services of a real estate tax lawyer who has experience in this field.