Tag Archives: Turbo Tax Free Edition

Filing Your Taxes – Helpful IRS Advice

Six Easy Tax Filing Tips

Income tax season does not have to be the worst time of year. The Internal Revenue Service has provided six easy tips that will help people file their taxes this season.

1) Do not leave your taxes until the last minute. Many people avoid filing their tax return until the end of tax season. People who wait until the deadline are more likely to make tax filing mistakes and miss tax savings opportunities. Early filers are less likely to make costly mistakes and the earlier you file your 2010 taxes the sooner you will … Read the rest

What are the Best Property Investment Options?

Some of the best options in the real estate and property investment markets today happen to be in rental, leasing and lease-to-own options, as there are a surplus of cheap homes all around the country, but the sales rates are still lagging behind.  This is due to a wide range of reasons, including the desire to avoid more debt, liability and expense, just to name a few.  The economy and housing markets are on the mend, although it is a slow mend, and the outcomes of these options are particularly beneficial to owners and tenants.

Lease-To-Own

The lease-to-own option, while … Read the rest

Importance of Inheritance Tax Planning

Inheritance tax planning could be very helpful for your beneficiary to pay little tax on their inheritance. Often people overlook this important aspect and their beneficiaries have to pay excessive taxes. The beneficiary who is named in the legal will is liable to pay inheritance tax.
In simple words, inheritance tax is the tax on assets which you have received from the deceased ones. The tax rates involve a number of issues such as your relationship with the deceased, type of the assets and total value of the assets. As a beneficiary, you could claim several reductions on the tax … Read the rest

Tax Lien Investing – Smart Move for Investors

Cash flow notes can be bought or sold and if you procure one, then the debtor will owe you the debt. Tax lien certificates, trust deeds, and home mortgages are examples. A great investment is business in tax lien certificates. Tax lien investing is attached to a property which makes it a low-risk investment. With the tax lien, the owner could never sell their property so the property would serve as your insurance that the owner will meet their commitments.

The certificate was bought at a discounted price and this is where you will get your profits. The owner may … Read the rest

Tax Deductible Expenses for Small Businesses

Small business expenses are those expenses that you incur every other day as you run your business. These expenses are usually allowed as deductibles when filing your tax returns. The IRS has defined business expenses as those expenses that must exist and are therefore necessary and ordinary in the business.

In a business that produces goods, any costs that are incurred in the production of a good are considered to be deductibles. A business that deals in the production of quilts is expected to incur expenses in fabric, thread or even batting. Other expenses that it may encounter include … Read the rest