How Do I File Taxes If I Work As a Freelance Artist?

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Taxes : Business & Finance

What Is the Income Cap for Receiving Tax Credit When Contributing to an IRA?

There are three types of Individual Retirement Accounts that allow you to deduct your contributions: SEP IRAs, SIMPLE IRAs and traditional IRAs. You are always allowed to deduct your SEP or SIMPLE IRA contributions, regardless of your income. However, traditional IRA rules may limit or eliminate you

How to Calculate Ohio State Income Tax

The state of Ohio uses a relatively complex system to calculate residents' income taxes. Ohio has nine different income brackets, with its income tax rates increasing proportionately with higher income levels.

Taxed by Taxes? Relax

With a little bit of planning some gay and lesbian couples can take advantage of their unmarried status and save more money with two separate tax returns than a married couple saves with one.I will address common questions that same sex couples have about allocating the biggest prize of the itemized

Detailed discussion about EPACT 179D and R & D tax

In that case, it is to mention that apart from commercial buildings, other EPACT beneficiary classes are the designers for government building projects including engineers, architects, lighting design

IRS Makes Taxpayers Aware of Many Schemes That Will Get Them in Trouble

"Taxpayers should be wary of scams to avoid paying taxes that seem too good to be true, especially during these challenging economic times," IRS Commissioner Doug Shulman said. "There is no secret trick that can eliminate a person's tax obligations. People should be wary of anyon

How to Get a Past W-2 Form

Before you file your tax return every year, you must get a copy of your IRS Form W-2 from your employer. This form provides you with important information such as how much you earned in total during the year, how much of that was taxable income, and how much tax was taken out of your pay.

Can the IRS Garnish Wages From a Closed Business?

Over 660,000 companies closed their doors last year in America, according to the U.S. Small Business Administration. The annual turnover rate held steady at ten percent, which means that entries and exits were nearly even.

Tips to Increase Your Tax Refund

No one likes to pay an extra amount than what is necessary and that is understandable considering it is your hard earned money. But taxes are important as they pay for our infrastructure and allow us to lead a comfortable life in a well developed civilized city. It is then better that you take care

How Can I Figure Taxes on My Paycheck?

As an employee, you know that when you receive a paycheck, you usually don't get to keep all of the money that you've earned. From your salary, you will have FICA -- Federal Insurance Contributions Act -- taxes that include both the social security tax and the Medicare tax, and federal income taxes

Can You Get a Loan From Your Income Taxes?

If you are expecting a refund on your federal income taxes, you can acquire a loan on the anticipated refund. It is called a refund anticipation loan. This allows you to access the money quickly instead of waiting to receive your tax refund. Refund anticipation loans are offered from the beginning o

Who Needs a Taxpayer ID Number in Mississippi?

If you are doing business in Mississippi, you are required to identify your business with one of two Taxpayer Identification Numbers: either your Social Security number or an Employer Identification Number. The state uses the federal EIN for its purposes, including for a Mississippi withholding tax

Workers' Compensation Settlements for Shoulder Injuries

One of the most common injuries for a worker can be a shoulder injury. Shoulder injuries typically occur from performing repetitive motions, such as sitting at a computer or lifting heavy boxes. When these injuries occur at work, they result in workers' compensation claims. If these injuries are sev

The 'Home' of Tax Shelters!

If you are paying mortgages and (of course) property taxes, you can deduct a part of it as your business expense. And when you sell your home, you can keep the gains.

How to Collect Unpaid Alimony in California

When a spouse fails to pay court-ordered alimony in California, the alimony recipient has the legal right to ask the court for help in obtaining those unpaid funds. A request can also be made that future payments be garnished from the responsible spouse's paycheck. Each county has a spousal and chil

How to Attach Tax Return Forms

Filing your federal taxes by mail involves printing the applicable tax return forms from the IRS website and sending them, in addition to supporting documentation, to an IRS processing office. After you complete your tax return and all schedules or forms, you may end up with several hard copy pieces

How to Assign a Value to Charitable Gifts

Non-profit organizations rely on support from a variety of sources, including grants, private donations and gifts-in-kind. If you choose to donate furniture, art or other items to a charitable organization, you should first know how to assign a value to charitable gifts. The value will help when you