Articles, tagged with "taxpayers", page 9
IRS Tax Debt and Benefiting From Tax Attorney Services
IRS tax debt
If you happened to be one of the unfortunate individuals to owe tax debt from your past years, or you have paid your taxes for the current year, and still expect to owe further taxes to the IRS in the form of IRS debt, it's possible for yo...
Better You Than Me
Well its official…we're being sold out.
You've heard the phrase about getting a taste of your own medicine? Well the medicine we're talking about is the health care plan the government wants you to have…but doesn't want to take themselves.
L...
IRS “Summertime Tax Tips” and the Alternative Minimum Tax
In Information Release 2009-64, issued last week, the Internal Revenue Service announced that is publishing a series of periodic "summertime tax tips." The stated purpose behind issuing these tips is to provide useful and concise advice on topics that af...
The Annual Alternative Minimum Tax “Patch” and “Indexing” Explained
The Patch
Each year for the past several years Congress has "fixed" the AMT problem by enacting a temporary "patch." With the signing of the stimulus bill this past February, 24 million taxpayers who otherwise would have been in the AMT in 2009 are sp...
Ways to Reduce Alternative Minimum Tax
The Alternative Minimum Tax is an integral part of our Federal income tax system. It is a separate, but parallel, system to what we refer to as the "regular" income tax. The AMT expands the amount of income that is taxed by including items that otherwise...
Alternative Minimum Tax Planning - Importance of Controlling Your Income Retirees
Retirees usually are the most surprised of all taxpayers when they find themselves in the Alternative Minimum Tax. Unfortunately, there is no "age exemption" - if you have the right blend of income and tax deductions, it hits you just as hard as it hits e...
Obama and Biden release tax returns – Vice President still stuck in the Alternative Minimum Tax
Shortly after April 15 President Barack Obama and Vice President Joe Biden released their 2008 income tax returns. What these tax returns showed is that the President is not paying the Alternative Minimum Tax, but that the Vice President is still stuck in...
Alternative Minimum Tax Planning - Importance of Differing Types of Income
As noted in the last article, the tax brackets that apply to capital gains and dividends are completely different from the tax brackets that apply to ordinary income . By definition, all income other than capital gains and dividends is called ordinary inc...
Could the Bailouts = No Change in the Housing Market?
The general arguments concerning the bailout have gone something along the lines of
Anti Bailout : "The taxpayers should not have to foot a 700 billion dollar bill to bail out Wall Street"
Pro Bailout : "But if taxpayers do not bail out Wall Street ...
Steps to Success: Alternative Minimum Tax Planning
In the legislative environment in which we currently find ourselves, significant changes affecting the taxation of individuals - that's you and me - are expected to be made, and to be made soon. All of this activity likely will also have a dramatic impac...
7 Most Commonly Overlooked Sources of Taxable Income
Sometimes a person gets in debt to the IRS because they just do not understand the complex US Tax Code. And who can blame them? Taxes are complicated and trying to read through convoluted IRS explanations of the rules is daunting. Many taxpayers are not a...
How To Decide Whether to Standardize or Itemize Your Tax Deductions?
Doing your taxes is time-consuming. There are a variety of choices on how to proceed. Taxes can be done online, or using a proprietary software package. Some taxpayers still use the old-fashioned method of pen and paper. Others prefer to hand the whole pr...
What is the 2008 Standard Deduction
The standard deduction may seem confusing at first glance, but when broken down, it really is quite simple. Many taxpayers spend a lot of time every tax season trying to figure out if the standard deduction or itemizing is right for them. To help clear th...