What is the Alternative Minimum Tax and why does it matter? The alternative minimum tax can surprise many unsuspecting people. This is one tax topic worth investigating.

IRS audit is the process of reviewing or testing of a particular company or individual financial statements or accounts. It is conducted to verify that the person or the company has paid taxes as per

Actual driving costs depend on the type of car, but the American Automobile Association estimated an average cost of 76.3 cents per mile in 2011 for cars driven 10,000 miles in a year. Internal Revenue Service standard mileage rates offer a way to offset the cost for qualified driving expenses, eith

Retirement shifts income from previous employment to Social Security and maybe to a pension plan, changing your tax source for federal income taxes. In addition to your age, other factors determine your tax status. Whether you need to file an income tax return with the IRS depends on the income's so

Many Americans have recently found themselves in the position of hunting for a job.There are several deductions and tax credits that benefit those searching for a job.Many of these can be very helpful to those already experiencing the economic hardships that go with such a hunt.

This article will show you how to go about finding IRS debt help. After reading you'll know exactly to get these pesky people off your back.

It's never to early to start thinking about year ending tax tips. Before we know it, it will be too late to save ourselves thousands of dollars in taxes.

Many people are under the false impression that dependents do not need to file income tax returns, but even the youngest of children could file a tax return if they meet Internal Revenue Service requirements. Generally, children are required to file returns if they meet certain income levels.

The tax rates vary from country to country also along with varying amounts. The highest rate in America is at 35% for a company that makes in profit over $18.3 million. The lowest is 15% for companies that make less than $50,000.

There is a silver lining for couples who are weathering the storms of separation or divorce. If you are legally separated or divorced, you may be eligible for several key tax credits and exemption options that were not available to you as a legally married couple. Plus, if you have dependent childre

As of the end of 2009, the Investment Company Institute reported that more than 46 million U.S. households owned some type of Individual Retirement Account. About 53.6 million held a Roth or traditional IRA, which suggests that many Americans have multiple IRAs of both types. The tax benefits Congre

School fundraising events generally enjoy an exemption of income taxes and sales taxes. However, a process is required to obtain exemption from federal income tax. In addition, there are rules for avoiding income tax on certain activities. Federal tax-exempt status is recognized by the states for in

Deducting travel and entertainment expenses helps lower your tax obligation, but many people may not take full advantage of what they can deduct. Other people overstate their deductions, according to the Internal Revenue Service, which totals about $30 billion annually in unpaid taxes. Taking advant

If you sell on eBay, or if you have an online business, listen up. There are several tax issues in the news right now that could have a huge impact on the way you do business.

You've convinced yourself that you have to buy a new car, but you have a dilemma: Do you trade in your existing car and get pennies on the dollar, or do you go to the effort of trying to sell it yourself--even though readying it for sale and the cost of advertising will cut into your sale? Avoid all

Unlicensed child care providers are part of a broad category of businesses that the IRS considers part of the underground economy. Like carpenters who build decks on weekends, house cleaners or waste haulers who work for cash only, these businesses often charge less. They are able to do so because s

When you file your federal tax return, you can include state tax payments made during the tax year as itemized deductions. For example, if you file your return by the April 15 deadline, you can include all state tax payments made the previous year. The Internal Revenue Service allows you to include

The home equity line of credit of an individual is considered to be deductible as a second mortgage for many people, but there are a number of considerations that need to be adhered to before the individual can actually deduct their interest on their taxes.A home equity line of credit can be used as

Have you had to recently foreclose or short sell in California? New legislation includes tax breaks for you.

Tax deductions contribute to national prosperity by providing capital to business. Tax deductions reduce taxable income. A $100,000 tax deduction reduces federal income tax by $35,000 ($100,000 X 35%) assuming a 35% income rate. Options for increasing business tax deductions include revising depreci