The 1099-MISC Independent Contractor Deadlines Are Upon Us

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Opportunity beckons as we venture into a new calendar year. Unfortunately, so do tax filing tasks. One of the first that pops up is the requirement to report certain payments to independent contractors to the IRS on form 1099- MISC.

How Can the Self-Employed Deduct Fuel on Taxes?

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Self-employed individuals may find themselves in their cars more often than they'd like. They shuttle goods, meet with clients and scout locations. Too much car time combined with high fuel prices will make it feel like the car is eating all the profits. Fortunately, Uncle Sam allows fuel costs t

Is Filing With a 1099 Double Taxing?

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When you work as a self-employed individual or have any self-employment income, you may receive a form 1099 around tax time. When filing taxes with a 1099, you may be worried about double taxation and paying more than you should have to pay. With this form, you do not necessarily pay any more taxes

Draft Scheme of "On Site Audit" in context of Post Clearance Audit (PCA) for Imports

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Draft Scheme of 'On Site Audit' in context of Post Clearance Audit (PCA) for Imports

Sweepstakes Online Or Offline

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Sweepstakes certainly are a popular game which might be played in both the online and offline mode. Today online sweepstakes will be more popular than offline ones while they give more variety and suppleness to the players. Indulging in sweepstakes will help you win nice gifts for anyone who is real

Who Qualifies for a Child Care Credit?

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A tax credit reduces the tax liability of a taxpayer on a dollar-for-dollar basis, according to the Internal Revenue Service (IRS). For example, a parent who takes a $3,000 child care credit for a single child and owes $4,000 in federal income tax will only have a total tax liability of $1,000. Gene

Federal and State Tax Return Forms, Free and Faster Efiling Option

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IRS has introduced an electronically tax return services are expanded now. When you efile your taxes for 2007 this year or beyond, most of you can efile it now for free using online tax return service

Tax Relief - Medical And Dental Expenses

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Certain medical, dental and eye care expenses are tax deductible for any taxable year, but only in itemized deductions when filing tax returns. However, the reimbursements of medical expenses from insurance companies and grants or gifts including those from Medicare must be deducted from the total c

What are the requirements for Child Disability Tax Credit Qualification?

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Most persons are aware of having a life insurance and disability insurance plan as it is a good idea for your future: No one desires to leave their dear ones in a monetary stagger if they were to die

How to Reduce Michigan Real Estate Taxes

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Every February and March Michigan homeowners get a property tax assessment in the mail. The assessment lets homeowners know how much their property taxes are for the year. The amount is based on the property's state equalized value and taxable value. If you think your real estate property taxes are

Can I Deduct Federal Taxes From My Maryland Return?

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You cannot claim federal income taxes as a deduction on your Maryland state income tax return. You can, however, claim state income tax as a deduction on your federal taxes. When you calculate your Maryland income tax, the starting point will be your taxable federal income. The state then requires y

Quarterly Taxes for Consulting Part-Time

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Workers in the United States are required to pay income taxes to the Internal Revenue Service throughout the year as they earn income. Most workers do not have to worry about paying the taxes they owe themselves because employers are required to withhold income from the pay of employees and send it

Indiana State Tax Credits for Historical Renovations

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The state of Indiana offers Rehabilitation Investment Tax Credit (IHRTC) and Residential Historic Rehabilitation Credit (RHRC) programs for eligible income-producing historic commercial properties and for residential properties. Participants in the state RITC tax credit program can also apply for fe

Understanding IR35

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IR35 is a concept that has a major effect on all UK contractors. The HMRC targets contractors working from their own limited companies and being caught under the legislation can result in severe finan

Income Tax DeductionsFacts About Maximum Tax Deduction.

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Tax deductions can represent actual expenses incurred and therefore, you need to report exact amounts, rounded to the nearest dollar when it comes to making estimation. If you are looking for the tax site from where you may get Maximum Tax Deduction assistance and guidance, then visit maxtaxdeductio

Can I Claim Taxes If I Receive SSI Benefits?

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The Internal Revenue Service, or IRS, will never preclude you from filing a tax return just because you receive Social Security Insurance, or SSI, benefits. However, your discretion to decide whether to file a federal tax return ends if any of your SSI is taxable, or you earn other income during the

Important Pointers For Global Tax Planning

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Enterprises that are into foreign ventures and business, needs to implement an effective global strategy or they have a risk of witnessing adverse business tax return consequences.

Free Federal Income Tax Filing Information

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The U.S. Internal Revenue Service (IRS), in partnership with private sector companies, provides "Free File" software programs or blank forms for filing federal income tax. Income limitations apply and the program does not include state tax forms.

How Do I Claim Tools on Income Taxes?

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There are a few ways to claim tools as an expense on your income taxes. Deciding the proper form to use is based on why you bought the tools and your employment situation. If your employer deducts Social Security and withholds income taxes based on a W-2 you submit, you are a regular employee and wi

How to Calculate Standard Cost Variance

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The standard cost variance is the difference between estimated and actual costs. A simple calculation can be used to determine how much you are spending, as opposed to how much you are predicting or budgeting. The technique can be used determine the variance of a business project or a category of a