Tax Saving Tips

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Paying taxes can put a great burden on your family’s finances plus this is in addition to other major expenses like your children’s education and health costs. However,there are a lot of tax breaks and credits provided by the federal government, you can ease your tax burden significantly and save a substantial amount of money […]

4 Tips on How to Prepare for Tax Season

How to prepare for Tax season

Instead of waiting for the last minute,make the first move this tax season, get yourself from behind the financial eight ball by preparing yourself for April 15 with the following steps: One – Organize Your Expenses into Personal and Business Expenses One of the best ways to keep the Internal Revenue Service off of your […]

Avoid the Hassle of an IRS Audit

"Hand Signing A Tax Form" by Arvind Balaraman

According to an Internal Revenue Service report, the U.S. treasury was shorted $385 billion in tax receipts in 2006 alone due to, “underreporting and underpayment,” by U.S. taxpayers, both individual and corporate. The amount would be $65 billion higher but the IRS managed to collect that amount through audits and enforcement. IRS audits could be […]

Best States for Relocation with Regards to Income Tax

Climate is another consideration besides tax

When considering relocating, one important factor in your decision might be state income tax. The most obvious choices are the handful of states that do not have a state income tax, listed below in alphabetical order. Alaska The economic growth is still slow, slightly under one percent. Jobs are mainly found in service industries, such […]

A Tax Guide for the Self-Employed

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Working from home has a lot of benefits, one of which is substantial tax savings. And although filing your taxes might be complicated in the beginning, nonetheless you need to learn how to do it properly. Whether you work from home as a freelance writer, designer or a business consultant you should be aware of […]

Understanding the Deduction for Charitable Donations

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When you make a donation to a charity in the United States, it is often tax deductible. Helping organizations that depend upon generous donations to continue their good work can make you feel good. However, the fact that you can lower your tax bill by donating to charity even makes it worthwhile financially. Charity Donations are Tax Deductible […]

Top 5 Personal Money Management Software Programs

Personal Money Management Software

Our everyday money management activities can get a bit overwhelming as it takes time and concentration to manage and keep an up-to-date records on our finances. Personal money management software takes the hassle out of this task and makes it much easier to get it done. Our monetary activities include budgeting, monitoring credit cards, retirement […]

What You Need to Know About Deducting Travel Expenses

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Deducting Travel Expenses- Do you use transportation for work or as a Volunteer? The IRS allows you to deduct many different types of transportation expenses, as long as you incur them while conducting business. While you can’t deduct your daily commute to and from work you can deduct many other travel expenses.  These expenses include airfare, car […]