The Internal Revenue Service reminds U.S. citizens and resident aliens, including those with dual citizenship who have lived or worked abroad during all or part of 2011, that they may have a U.S. tax liability and a filing requirement in 2012.The IRS offers the following seven tips for taxpayers with foreign income:1. Filing deadline U.S. citizens [...]
The Internal Revenue Service reminds U.S. citizens and resident aliens, including those with dual citizenship who have lived or worked abroad during all or part of 2011, that they may have a U.S. tax liability and a filing requirement in 2012.The IRS offers the following seven tips for taxpayers with foreign income:1. Filing deadline U.S. citizens [...]
You are in the business of farming if you cultivate, operate or manage a farm for profit, either as an owner or a tenant. A farm includes livestock, dairy, poultry, fish, fruit and truck farms. It also includes plantations, ranches, ranges and orchards. The IRS has 10 key points for farmers regarding federal income taxes.1. Crop [...]
You are in the business of farming if you cultivate, operate or manage a farm for profit, either as an owner or a tenant. A farm includes livestock, dairy, poultry, fish, fruit and truck farms. It also includes plantations, ranches, ranges and orchards. The IRS has 10 key points for farmers regarding federal income taxes.1. Crop [...]
Call Kurtis: Who’s Responsible If Your Tax Preparer Makes A Mistake? « CBS Sacramento
1. The Non-business Energy Property Credit Homeowners who install energy-efficient improvements may qualify for this credit. The 2011 credit is 10 percent of the cost of qualified energy-efficient improvements, up to $500. Qualifying improvements includeadding insulation, energy-efficient exterior windows and doors and certain roofs. The cost of installing these items does not count. You can [...]
With business tax-filing deadlines fast approaching, the Internal Revenue Service encourages small employers that provide health insurance coverage to their employees to check out the small business health care tax credit and then claim it if they qualify.The recently-revamped Small Business Health Care Tax Credit page on IRS.gov is packed with information and resources designed [...]
Each year, millions of taxpayers choose whether to take the standard deduction or to itemize their deductions. The following seven facts from the IRS can help you choose the method that gives you the lowest tax.1. Qualifying expenses - Whether to itemize deductions on your tax return depends on how much you spent on certain [...]
The Internal Revenue Service offers the following seven tips to help taxpayers avoid an emerging scheme tempting senior citizens and other taxpayers to file tax returns claiming fraudulent refunds.These schemes promise refunds to people who have little or no income and normally don’t have a tax filing requirement.Promoters claim they can obtain for their victims, [...]
Did you know that almost everything you own and use for personal or investment purposes is a capital asset? Capital assets include a home, household furnishings and stocks and bonds held in a personal account. When you sell a capital asset, the difference between the amount you paid for the asset and its sales price [...]