As per the tax code applicable in the United States of America, there are certain types of income that are not taxable at all. If you be a little creative and take some actions in advance, you can turn certain part of the compensation you receive from your employer into a tax free income. There are plenty of ways to make your compensation nontaxable. So, get ready if you are due for a raise. Following is a brief rundown on five wonderful alternatives to taxable earned income.
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?
How An Online Tax Attorney Can Help You Save Taxes?
June 28, 2010 By
Internet connects people to a lot of information. Through the Internet, a person can find and access information regarding online tax attorneys any time of the day and from any location. Any person that owns a business or has a reasonable amount of money in real estate or cash should try hiring a lawyer. You cannot keep in touch with every move in the tax law, but your attorney can. A good income tax attorney can make you save thousands of dollars in tax deductions and he can make sure that the IRS cannot touch you. The best way to stop a problem with IRS is preventing it and only a good attorney can help you do that. You just need to search and find out who is the best.