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Sales Tax on Amazon Purchases?

For years, Amazon.com has been one of the best places online to purchase all kinds of products. From starting out as a bookseller in 1994, Amazon.com has become the largest online retailer in the world, and sells products of all types. In addition to books, movies and music, you can buy clothing, electronics, food and [...]

Taxable Fringe Benefits

There are many different types of fringe benefits that an employer may offer its employees, and some of them are considered non-cash income and will be added to your taxable income when your W-2 is issued. Some benefits, specifically insurance types, may not be taxable as income when the premiums are paid, but the proceeds [...]

A Guide to Tax Deductible Donations to Non Profit Organizations in The United States

The IRS recognizes certain organizations as nonprofit or not-for-profit entities, a distinction that requires strict eligibility criteria be met, in order for any contributions to such organizations to be considered “tax deductible” on a federal income tax return. These organizations are generally founded for purposes that include charity, education, religion, scientific exploration, or amateur sports [...]

Tax Subsidies and Tax Exempt Status of The Rich and Famous

In this time of deep political division in our country, when half the people are calling for increased taxes on the “wealthy” and half are calling for no tax increases but significant spendingcuts, it’s prudent to sit back and take a few moments to regain some perspective. We should all agree that everyone must pay [...]

What Can You Claim Back on Taxes When You Are Self-Employed?

If you work from home, either as a consultant to other businesses or as a fully self-employed person, there are a lot of things that you can claim back on taxes as expenses in order to reduce your taxable income.   In order to be ready at tax time, and just to be sure that [...]

5 Tips for Lowering Your Tax Bill By the End of the Year

It is your obligation to pay your income taxes every year to the IRS, but it is not your obligation to pay any more than necessary. There are many legal ways to lower your tax obligation.  Even now, this close to the end of the year, there are still steps that can be taken to [...]

Don’t Make These 8 Tax Filing Mistakes

 When it comes to filing your taxes, pretty much everyone is afraid that at some point they will make a mistake that will bring the wrath of the IRS down on them in the form of the dreaded audit.  The good news is, tax preparation software is so inexpensive and ubiquitous these days that most [...]

Sales Tax Holidays – Hype or Help?

Every year, usually around August for the back-to-school sales period, many states begin issuing their “sales tax holidays” for a couple of days, making a few select items sales-tax-exempt in order to promote spending and to offer a small break for cash-strapped consumers. The holidays are occasionally offered during other time periods as well. Some [...]

The Difference in California Income Tax for a Single Person vs a Dual-Income Married Couple?

For many years, people have complained about the “marriage penalty” that is inherent in many income tax calculations, but what does the term actually mean, and does it really exist? The “marriage penalty” refers to the fact that under some income tax regulations, a married couple will pay more in income taxes than would two [...]

What You Need to Know about the Saver’s Credit

Thanks to the IRS’s Saver’s Credit, you may now be able to take advantage of a tax credit to help you save for retirement. Formerly known as the Retirement Savings Contributions Credit, the Saver’s Credit applies to individuals with the following filing status/income combinations: Single, married filing separately, or qualifying widow(er), with income up to [...]

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