Taxes : Business & Finance
City taxes, sometimes referred to as local or municipal taxes, are levied by governments to pay for the day-to-day operations and services you take advantage of as a citizen. These taxes pay for schools, garbage pickup and law enforcement, just to name a few services. Differences abound on the types
Self-employed workers make estimated tax payments.computer worker image by PD-Images.com from Fotolia.comSelf-employed workers pay federal and state income taxes by making estimated tax payments. The self-employed pay self-employment tax in addition to income tax. Self-employment tax...
Even if you do not owe taxes from an earlier year you must still file the right FBAR Penalty as the penalties will still apply. You must never try to evade filing these forms unless you are willing to risk serious consequences that involve prison. Because the guidelines and rules regarding the filin
Although California consumer protection laws place strict regulations on creditors and collection agencies, the state also requires its residents to comply with the penal regulations covering deceptive practices by consumers in an attempt to hinder a secured creditor's attempt to collect its loans o
If you live in Minnesota and have a car you no longer use, you may be wondering what to do with it. The idea of hauling it to a dealership may seem like more trouble than its worth, and often it is. Donating the car to a charity is one good option, and many charities would be glad to receive it.
The Government Accountability Office (GAO) released a report in June 2011 that delineated the government funded retiree benefits for private contractors' employees hired by the government. Various departments of the federal government have been paying for Healthcare and pensions for these emplo
The Defense Finance and Accounting Service calculate Marine Corps base pay using years of service and rank. An enlisted grade four Marine with over two years of service makes less than an enlisted grade four Marine with over three years of service. In addition to base pay, Marines also receive addit
Property taxes, which include mobile home taxes, are assessed by your municipality and are based on the value of the mobile home. A county or municipal assessor places a value on the home and should notify you annually of any change in the valuation. Some municipalities require two payments per year
In June 2011, the IRS announced a mid-year standard mileage deduction adjustment to provide some relief for the continually rising fuel prices. The IRS traditionally provides mileage deduction rates once, around fall time, to cover the preceding tax year. However, very rarely, the IRS does provide m
A lot of time, energy and effort goes into opening a new business and one of the items most imperative to add to your to-do list is applying for a business ID, or a federal employer identification number (FEIN). The Internal Revenue Service uses EINs to identify businesses in the same way Social Sec
For the past couple of years the IRS has taken steps to implement an oversight process designed to ensure the competency of tax practitioners to assure greater accuracy in the preparation of individual tax returns. The IRS based its authority to implement the program on a law enacted in 1884 that al
You may not be aware of the fact that by donating your vehicle to a charity organization, you can claim tax relief under itemized deductions. Is it possible that the fair market worth of my donated automobile will be deducted from the tax I have to pay in a year? The answer to your question is No, s
If you owe a tax debt to the IRS and do not arrange a payment plan and make payments toward your debt, the IRS can seize your property to pay for the debt. This includes seizing your house, car or other property, or garnishing your wages, bank account, retirement account or other account. If the IRS
Putting your home on the market at a time when there's more supply than demand may require you to accept a price that's less than your original cost. When this occurs, the IRS allows you to use that capital loss to offset current and future capital gains. In addition, a tax deduction is available fo
Marriage is one of the most important financial commitments that you can make in life. Marriage introduces significant tax ramifications, beginning with your new joint income as a couple. While summing up your total income, it is critical that you also understand how to calculate what is actually ta