What is a Dependent for Tax Purposes? By: Ken Snowie What are the qualifying characteristics of a dependent for tax purposes? Following is a general explanation on how to determine dependents, and how it relates to your tax status, liability and the credits you can claim on your tax return. Tags: tax, tax returns
Late filing can result in substantial and continuing penalties. This is in addition to any interest that is due.
2. Receive Better Service from Your Accountant
The earlier you get your paperwork to your accountant, the sooner he can start preparing your tax returns. More importantly, there will be more opportunities to explore and implement tax saving strategie... Tags: INCOME TAX RETURNS, DELINQUENT TAXES, TAX EVASION
Income Tax Returns Your Accountant Should Not File By: Stephen Pope You've been feeling uneasy (perhaps even guilty) because you've failed to report your under the table business income. Perhaps you've never filed a tax return, even though you know you owe money. Finally, you contact an accountant to resolve the situation.
Although it is commendable that you are trying to correct matters, hiring an accountant to do these delinquent returns could be a big mistake. The reason why is because tax evasion is a criminal offence or felony. You mi... Tags: INCOME TAX RETURNS, SOLICITOR-CLIENT PRIVILEGE, DELINQUENT TAXES
What's So Special About Tax Returns? By: Robert Shaw Tax returns are documents all taxpayers must file by April of each year. These documents contain your income information from the previous year. Each year, you must file your tax returns with the IRS so the government bean counters can properly calculat your tax payments.
If you are an employee, your employer probably withheld taxes from your paychecks. Business owners and self-employed individuals usually pay their taxes by installments throughout the year. Because tax pa... Tags: tax returns
Practical Self Employed Tax Tips By: Terry Cartwright Being Self Employed in the UK carries with it responsibility to sort out your own tax affairs, the first tax tip is to maintain good records of the business income and expenses to minimise tax liability. With tax rates of up to 40%, tax is an essential area to achieve a degree of competence. DIY Accounting produces both Accounting Software templates and Payroll Software templates that ease the record keeping. Tags: tax, tax tips, tax rate, self employed, business, business expenses, tax returns, capital
Tax Returns - Should you E-File? By: Tom Wheelwright Over the last few years, there have been several incentives, or even requirements, provided by the IRS and state governments to encourage tax filers to file their returns electronically. Statistics show the percentage of e-filers is on the rise. With tax return deadlines right around the corner, we want to share our thoughts on the questions we receive most often from clients about e-filing. Tags: E-File, 2007 Tax Returns, Tax, CPA, Accountant
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