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Taxes : Business & Finance

How to Reclaim Overpaid VAT

The United Kingdom's Revenue and Customs agency makes options available to you if you overpaid your value-added tax, or VAT. Generally, provided that the overpayment is less than 10,000 British pounds (about $15,800 as of January 2011), you can correct the error by adjusting your VAT return for a la...More...

Tax Write Offs for the Self-Employed

As tax season approaches, everyone looks for ways to minimize the amount they will owe or maximum their refund. Self-employed Americans typically have a more complicated task ahead of them as they have most likely not paid any taxes yet. The key to minimizing your tax bill in April is to find and ...More...

Understanding Property Tax Auctions

In order to better understand the concept behind a property tax auction, one must first understand government - at least on a surface level. That is to say, one must understand that there is an overlying, federal government, under which there are state governments, and finally there are governments ...More...

Why Would My Employer Not Want to Deduct Taxes From Me?

In the United States, the Internal Revenue Service requires that employers withhold taxes from the net paychecks of employees. Many taxpayers prefer to classify workers as subcontractors rather than employees. By classifying workers as subcontractors, employers avoid withholding taxes from the wor...More...

Tax Deduction for Working at a Charitable Event

Although volunteers working a charitable event probably don't do so to lower their tax bill, the federal government rewards their efforts -- sometimes. To deduct volunteering at a charitable event, taxpayers must incur some expenses. Also, failure to adequately document and claim allowable expenses ...More...

How to Obtain a Tax ID Number for a Small Business

All business owners must have a tax identification number, also known as a tax ID or EIN, to conduct business and pay taxes in the United States. The Internal Revenue Service issues the tax ID number, which must be obtained upon registration of the business. There are two methods of obtaining the ta...More...

ATO - Excess Contributions Tax and Lodgement Issues

The ATO have had significant re-reporting of SMSF contributions. While much of the re- reporting is to correct errors, an increasing concern is that some of the fund information that is re-reported is not correct, occurs immediately after the ATO have notified the member that they may have an ECT li...More...

The Definition of Qualified Dividends

The IRS classification of qualified dividends generally leads to a lower tax liability for most taxpayers. Although there are a number of additional steps involved in calculating your total tax in light of the impact of qualified dividends, doing so reduces the amount you owe....More...

How To Get Your Past Tax Returns

If there's one piece of not so conventional tax advice that I try to tell people, it's that past tax returns can really help you in a lot of ways. From everything to making this years tax filing easier to to paying down your bills to getting a better mortgage rate, hanging on to your past ...More...

What Can Be Deducted on Tax Returns?

Before you prepare your federal tax return, it is important to understand how to reduce your tax liability by taking every qualified deduction. Also, knowing what form to use will help with this process. Individual taxpayers use federal tax Schedule A to document personal deductions. Employees use F...More...

Definition of EIC

The Earned Income Tax Credit or the Earned Income Credit or EIC helps low-paid workers to owe fewer taxes. A tax credit is deducted from the tax owed rather than decreasing taxable income like a deduction....More...

Certified Public Accountant

Definition of Certified Public Accountant: A CPA is a professional accountant licensed by the state. Best for corporate accounting, tax audits, and business consulting....More...

How to Pay Federal Taxes With a Wachovia Visa Card

Federal taxes can easily be paid with your Wachovia Visa card. Credit card payments with returns e-filed using the IRS-provided online software can be processed with ease. If you are filing a paper tax return, you must call the IRS and give your credit card information over the phone. The IRS does n...More...

After Leasing a Car What Is the Depreciated Value?

When you're looking to lease a vehicle, the bottom line usually is whether you can afford the monthly lease payments. Lease payments are related directly to the vehicle's depreciation value, so a better understanding of what depreciation value is and how it works in leasing may let you walk away wit...More...