How Do I File Taxes If I Work As a Freelance Artist?

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Taxes : Business & Finance

Are Child Tax Credits Paid Yearly?

The child tax credit is available to parents of children under age 17. Not to be mistaken for the dependent deduction, the child tax credit is worth $1,000 per child, and it significantly lowers the amount of tax parents owe the Internal Revenue Service each year. Parents can claim the credit once a

What Is a Binding Contract Tax Credit?

A binding contract tax credit refers to the Internal Revenue Service's First Time Homebuyer Credit. A homebuyer could qualify for this tax credit if she purchased a new home by the deadline or if she entered into a binding contract to purchase a home by this date and closed on the sale within a set

Tax Filing for Singles

Whether it's your first year filing your taxes or you need to brush up on the basics, it never hurts to know exactly how the filing process works for a single person. Although it can still be confusing to sift through the IRS's terminology, technology has made tax filing easier than ever. For exampl

Design a Proper Personal Tax Planning Scheme

There is a very thin line between tax evasion and tax avoidance, hence, it is important for every individual to understand and realize the legal aspect of their personal tax planning scheme as otherwi

How To Request Irs Audit Reconsideration

If you are having tax problems, and need to schedule an audit reconsideration with the IRS, follow these helpful tips from a seasoned tax attorney.

Corporate Tax - Not As Fair As You Might Think

For a profit between $335,000 and $10,000,000, the tax rate is down to 34%. For a profit between $10,000,000 and $15,000,000, the tax rate is 35%. For a profit between $15,000,000 and $18,333,333, the tax rate is 38%. For those corporations that make over $18,333,333, the tax rate is back down to 35

How to Prepare IRS Form 3949A

If you discover an individual or a business is not submitting a proper tax return for one or more years, you can send that information to the Internal Revenue Service (IRS) on Form 3949A. The submission of such information is voluntary and kept confidential. If you have books and records or other do

Learning About 1099 Tax Form

Compensation earned pulls in the acquirements of toll, paying little heed to whether you are an individual, firm or a corporate component. Duty includes after a huge amount of strategies and garnish off of a ...

Are HMRC Prepared for RTI?

As many will already be aware, arguably the largest change to the UK tax system in 70 years has come into place; Real Time Information is a substantial step forward regarding the future of how ...

How to File Single or Jointly as a Non-Resident of Georgia

A person or married couple that earns enough money in Georgia to pay income tax but doesn't live in the state must file a state income tax return. A non-resident does not have to file if he earned money in Georgia as an employee only and made under the income threshold. The threshold is the lesser o

What is the Health Coverage Tax Credit?

A taxpayer can be eligible for a tax credit through the Health Coverage Tax Credit (HCTC) program. An eligible recipient can have 80 percent of his individual or family health insurance premiums paid with federal funds.

How to Donate a Car in Madison, Wisconsin

With a population of more than 200,000 residents, Madison is one of the largest cities in Wisconsin and has many organizations and agencies that solicit the public for charitable donations (see "Resources" for an extensive list). Some of these charities now accept vehicles as donations. In general,

About Medicare Eligibility

Medicare benefits were established in 1965 through a bill signed into law by President Lyndon Johnson. Over time, it has been reformed and expanded, most notably by the Medicare Prescription Drug, Improvement and Modernization Act of 2003.

What Is the Tax Form That the Mortgage Company Mails to You?

If you pay interest on a mortgage, you can expect to receive a copy of IRS Form 1098 from your mortgage company soon after the first of the year. This "Mortgage Interest Statement" is a tax form that the Internal Revenue Service calls an "information return." It's provided so that you can prepare yo

What Can I Deduct as Capital Losses on My Taxes?

The IRS treats most, if not all of your personal property as a capital asset. When you sell one of these assets at a loss, in most cases, you can deduct it on your tax return. However, since the tax treatment of capital gains is more favorable than other types of income you receive, there are some r