Taxes

  1. If an employee is paid by commission, who is responsible for withholding taxes?

    If an employee is paid by commission, who is responsible for withholding taxes?

    It depends. An individual who receives commissions can be treated in the same manner as an individual who receives straight ...
  2. What procedure applies to a taxpayer who made excess contributions for 2001, 2002, ...

    What procedure applies to a taxpayer who made excess contributions for 2001, 2002, ...

    If the IRA owner filed his/her 2004 tax return by the due date, including any extensions, he/she receives an automatic six-month ...
  3. It Is Better To Give AND Receive

    It Is Better To Give AND Receive

    You give to benefit others, but there can be perks for you too.
  4. How can I make sure I'm ready to file my taxes?

    How can I make sure I'm ready to file my taxes?

    Whether you file your return yourself, or have it done by a tax professional, you want to make sure you include all your ...
  5. 9 Ways To Use A Tax Refund

    9 Ways To Use A Tax Refund

    How do you plan to spend your refund this year? We provide some smart suggestions.
  6. What are the tax consequences of a Roth IRA distribution if the IRA holder is younger ...

    What are the tax consequences of a Roth IRA distribution if the IRA holder is younger ...

    The tax treatment of a Roth IRA distribution depends on whether the distribution is qualified. Qualified distributions from ...
  7. 9 Tips For Growing A Successful Business

    9 Tips For Growing A Successful Business

    Give your business what it needs to thrive and it will reward you for years to come.
  8. How does the American Housing Rescue and Foreclosure Prevention Act of 2008 affect ...

    How does the American Housing Rescue and Foreclosure Prevention Act of 2008 affect ...

    The passage of the American Housing Rescue and Foreclosure Prevention Act of 2008 at the end of July 2008 made about $15 ...
  9. What are unrealized gains and losses?

    What are unrealized gains and losses?

    An unrealized loss occurs when a stock decreases after an investor buys it, but he or she has yet to sell it. If a large ...
  10. How can I use a child tax credit?

    How can I use a child tax credit?

    You may be able to reduce the amount of taxes you owe by up to $4,000, by claiming the child tax credit of up to $1,000 for ...
  11. Top 10 Solutions For A Big Tax Bill

    Top 10 Solutions For A Big Tax Bill

    Ignoring a big tax bill will only increase your pain. Fortunately, there are ways to diffuse the tax time bomb before it ...
  12. 5 Things To Consider Before Late-In-Life Marriage

    5 Things To Consider Before Late-In-Life Marriage

    Waiting to marry has become the norm, but do you know what to consider before saying "I do"?
  13. Are the deferred earnings in a SIMPLE IRA subject to FICA taxes?

    Are the deferred earnings in a SIMPLE IRA subject to FICA taxes?

    While salary deferral contributions to a savings incentive match plan for employees of small employers (SIMPLE) IRAs and ...
  14. How do I figure out my cost basis on a stock investment?

    How do I figure out my cost basis on a stock investment?

    The cost basis of any investment is the original value of an asset adjusted for stock splits, dividends and capital distributions. ...
  15. Pay For A College Education With Retirement Funds

    Pay For A College Education With Retirement Funds

    These savings vehicles may be better than college saving funds for some families.
  16. Cut Your Tax Bill

    Cut Your Tax Bill

    Paying your bills early or giving an extra donation now can help you come tax time.
  17. Does everyone have to file a federal tax return?

    Does everyone have to file a federal tax return?

    This may come as a surprise to many individuals, but not everyone needs to file a federal tax return. According to the IRS, ...
  18. Can a corporation deduct dividend payments to shareholders before taxes are calculated?

    Can a corporation deduct dividend payments to shareholders before taxes are calculated?

    Corporations may not legally deduct the dividend payments before taxes but there is another approach - a corporate structure ...
  19. Is it true that you can sell your home and not pay capital gains tax?

    Is it true that you can sell your home and not pay capital gains tax?

    It is true in most cases. When you sell your home, the capital gains on the sale are exempt from capital gains tax. Based ...
  20. Top 8 Estate Planning Mistakes

    Top 8 Estate Planning Mistakes

    Proper planning will help ensure that your wishes are honored and your heirs are well cared for.
  21. Is my non-qualified Roth IRA distribution subject to taxes or early distribution ...

    Is my non-qualified Roth IRA distribution subject to taxes or early distribution ...

    The ordering rules must be applied to determine whether the distribution is subject to income taxes and/or the early distribution ...
  22. I will be receiving monies from a QDRO executed pursuant to my divorce. I would like ...

    I will be receiving monies from a QDRO executed pursuant to my divorce. I would like ...

    There are several issues to consider: The early distribution penalty - Assets distributed from a qualified plan in accordance ...
  23. How can unethical executives use options backdating to evade taxes?

    How can unethical executives use options backdating to evade taxes?

    The practice of options backdating has landed many companies into the hotseat. The SEC constantly investigates possible instances ...
  24. An Introduction To Canadian Income Trusts

    An Introduction To Canadian Income Trusts

    Yields in excess of 10% aren't rare, but these unique investments need to be chosen very carefully.
  25. Get Ready For The Estate Tax Phase-Out

    Get Ready For The Estate Tax Phase-Out

    Changes to federal legislation will affect how your assets are treated once you're gone - be prepared.
  26. How do I file taxes for income from foreign sources?

    How do I file taxes for income from foreign sources?

    If you are a U.S. citizen or resident alien, your income (except for amounts exempt under federal law), including that which ...
  27. How are realized profits different from unrealized or so-called

    How are realized profits different from unrealized or so-called "paper" profits?

    When buying and selling assets for profit, it is important for investors to differentiate between realized profits and gains, ...
  28. What are some commonly missed deductions for business owners?

    What are some commonly missed deductions for business owners?

    If you own a business, you are eligible to deduct certain business-related expenses. These include deductions for the following: ...
  29. Pension Protection Act Of 2006 Becomes Law

    Pension Protection Act Of 2006 Becomes Law

    Learn how the passed bill can help you save more for retirement.
  30. Saving Money With A Private Annuity Trust

    Saving Money With A Private Annuity Trust

    Learn about a strategy that could help you reduce taxes, diversify your portfolio and generate income.
  31. How do I avoid paying excess taxes on securities I have sold?

    How do I avoid paying excess taxes on securities I have sold?

    If you dispose of securities during the tax year, the profit or losses from the transaction are either capital gains or losses. ...
  32. Estate Planning For Canadians

    Estate Planning For Canadians

    Trusts, wills, taxes and rules differ by country. Find out what you need to know about estate plans in Canada.
  33. When am I not required to submit a social security number on my tax return?

    When am I not required to submit a social security number on my tax return?

    When filing your tax return, you are generally required to include the social security numbers of yourself and the individuals ...
  34. How do I calculate my gains and/or losses when I sell a stock?

    How do I calculate my gains and/or losses when I sell a stock?

    To begin, you need to know your cost basis, or the price you paid for the stock. If you did not record this information, ...
  35. I sold my house. Can I exclude the gain from my income?

    I sold my house. Can I exclude the gain from my income?

    Generally, you are required to include the gain from the sale of your home in your taxable income. However, if the gain is ...
  36. Paying Uncle Sam: From Tobacco To $1 Trillion

    Paying Uncle Sam: From Tobacco To $1 Trillion

    The services we rely on, like education, law and security, were built on taxes.
  37. How can I easily get ready for next year's tax season?

    How can I easily get ready for next year's tax season?

    You may one of the lucky ones to come out on top this tax season, but as you will likely agree, it does not mean that you ...
  38. 10 Reasons Why Moving Might Not Make You Richer

    10 Reasons Why Moving Might Not Make You Richer

    Find out why moving to a less expensive city may not reduce your expenses.
  39. Can an open-ended fund's price appreciate significantly?

    Can an open-ended fund's price appreciate significantly?

    Theoretically, open-end mutual fund prices can experience a significant increase in price. However, three factors need to ...
  40. After receiving a required distribution when and how are my taxes affected?

    After receiving a required distribution when and how are my taxes affected?

    Any taxable amount of the distribution will represent ordinary income for the year that the distribution occurs and will ...
  41. Can I give stock as a gift?

    Can I give stock as a gift?

    Stocks, bonds or any other securities can be transferred as gifts. Giving the gift of stock also has benefits for the giver. ...
  42. As a temporary resident of the US, can I withdraw funds from my Traditional IRA without ...

    As a temporary resident of the US, can I withdraw funds from my Traditional IRA without ...

    Should you decide to invest in a Traditional IRA and receive a tax deduction for your contribution, the amounts that you ...
  43. If I take a severance package from my employer, how will it be taxed?

    If I take a severance package from my employer, how will it be taxed?

    It depends on your tax bracket. For instance, if your employer offers you a payout of $100,000, you will owe federal tax ...
  44. Run Your Personal Finances Like A Business

    Run Your Personal Finances Like A Business

    The principles that contribute to success in business can also help you achieve your financial goals.
  45. What constitutes an

    What constitutes an "intention to call a debt instrument before maturity" for tax ...

    When a bond is sold for a capital gain, the seller will face taxation on the profit. The profit from the sale will either ...
  46. Upon my death, will the beneficiaries of my IRA be compelled to take the entire amount ...

    Upon my death, will the beneficiaries of my IRA be compelled to take the entire amount ...

    It depends. If the beneficiary of your IRA is your spouse, he or she will be eligible to transfer the amount to his or her ...
  47. Can I convert non-deductible contributions made to my Traditional IRA to a Roth IRA ...

    Can I convert non-deductible contributions made to my Traditional IRA to a Roth IRA ...

    You can convert the contributions to a Roth IRA; however, a portion of the amount you convert to the Roth will be subject ...
  48. Capital Gains Tax Cuts For Middle Income Investors

    Capital Gains Tax Cuts For Middle Income Investors

    Find out how TIPRA plans to slash taxes for those in the 10-15% tax bracket.
  49. How do I sign up for the saver's tax credit?

    How do I sign up for the saver's tax credit?

    The saver's tax credit is a non-refundable tax credit available to eligible taxpayers in the U.S. who make contributions ...
  50. When am I considered

    When am I considered "married" for tax purposes?

    You are generally considered married for tax purposes as long as you were married as of the last day of the year, regardless ...
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