Taxes

Taxes are a form of profit used by many governments around the world to raise capital for public-related services. Yet, not all countries use taxes as their sole source of income. Some, with a blessing of natural resources, use these to raise funding for governmental offices, and services. The Athenians used this revenue to fund their public services. In the Middle Ages, serfs paid rent, and nobility paid off government deputies to miss drafts for war, and both of these forms of profit provided governments with a stock of money. The articles included herein provide information about taxes, tax planning, tax preparation, income tax filing, forms, deductions, return and more.
  • Taxpayers Shell Out $40 Million to Mow "Federal" Lawns
    To add insult to injury, U.S. taxpayers are now not only responsible for homes owned by Fannie Mae and Freddie Mac, they’re also responsible for fixing them up and mowing their lawns.
  • How to File a Tax Extension
    Filing a tax extension is not rocket science, really. All you need to do is understand the instructions and follow them meticulously. This article clears the air on all the misgivings associated with filing a tax extension.
  • Chris Christie Suggests Warren Buffett Should Shut Up
    In an interview with Piers Morgan on Tuesday, New Jersey Governor Chris Christie suggested that Warren Buffett should simply "Shut Up" and write a check to the US Treasury.
  • Self-Employment Tax 2012
    Several people tend to take up their own employment. IRS classifies them as self-employed income earners and tax payers. Here is an insight into the self-employment tax 2012 updates.
  • Regressive Tax
    Field of taxation employs several taxation systems to collect taxes. Regressive tax is one of the system of tax collection. Here, a brief yet comprehensive elaboration on this taxation system has been given.
  • Carbon Tax
    The concept of carbon tax is not exactly new, and has been in existence in some nations since the start of 1990s. It is an environmental tax which is used as a tool to promote use of environmental-friendly energy sources.
  • Estate Tax in 2012
    After a whole year of exemptions, estate tax returned in 2011. The estate tax for 2012 was more or less the same as 2011 with some slight modifications to take into account the effect of inflation. Let us take a look at the estate tax in 2012, and get some insight into the age-old debate on whether levying estate taxes is justified. Read on...
  • Federal Inheritance Tax
    In this article we will try to know the concept of inheritance tax and the rates for the current year.
  • Annual Gift Tax Exclusion
    In this article, we will take a look at annual gift tax exclusion and the revised lifetime gift tax exclusion...
  • Inheritance Tax Threshold
    A person who receives a gift or inheritance or ownership of a property after the death of an individual is liable to inheritance tax. The amount of tax to be paid and the requirements to invoke a tax have been mentioned here.
  • Taxes on Gifts
    The following article, makes a brief elaboration of the taxation of gifts by the IRS. Some of the common terms and conditions of gift taxes have been explained in the following paragraphs. To know more read on.
  • Capital Gains Tax Rate
    Being aware of the capital gains tax rate 2011 is absolutely essential for people of all age groups. This article has information on long term capital gains tax rate. So, continue reading to know more...
  • Rental Property Tax Deductions
    Tax deductions for rental property implies two concepts, namely, tax deductions for the landlord on income received from rental property, or secondly, the property that a tenant uses. Here, an explanation based upon the guidelines set by the IRS has been provided.
  • Fair Tax Pros and Cons
    Pros and cons are inevitable in any taxation system, and are also almost equal in number. However, using any taxation system's advantages as per the situation is the best way to levy the system.
  • The Laffer Curve and Taxation in the United States
    The Laffer Curve is based on very old economic reasoning, but it was made popular in the 1970s, used as the basis of many supply-side arguments in the 1980s and is oddly relevant again in the modern-day.
  • Why the Tax Debate is a Waste of Time
    The Obama administration and Congressional leaders will spar over tax legislation while the real problem lies in where our current tax dollars are spent.
  • Is Disability Income Taxable?
    One common query regarding income tax returns is, whether disability income is taxable. According to the IRS any income in the form of compensation is liable to taxation. Yet this taxation criteria depends on who pays for the disability compensation.
  • What is a VAT Invoice
    If you have no clues about what is a VAT invoice, this article will be an insightful read. Here you will find information about, how to write a VAT invoice for trade in any of the European countries.
  • How to Get a Federal Tax ID Number
    A federal tax id number is a must for those who own or intend to own their own estate or business with employees working under them. Do you want to know how to get a federal tax id number? Read this article and know all that you would need to do.
  • Is Social Security Taxable
    When it comes to social security and taxation, several citizens would be keen on knowing whether it is taxable. In the following article, some provisions of the concept of social security and the tax exemptions that are granted, have been discussed. To know more, read on...
  • Taxes on Bonuses
    It is important for both employers and employees to understand the taxes applicable on any bonus that is given. In this article, we tell you more about the tax that is payable on bonus.
  • Self Employment Tax
    Self employment tax is levied upon American citizens who work for themselves. Read on to know more about the self employment tax rate and tax benefits.
  • Claiming Children on Taxes
    The following article deals with facts about claiming children on taxes. Different aspects of the process of claiming child tax credit are presented below.
  • Flat Tax Vs. Fair Tax
    The floor is open for the debate titled 'flat tax vs. fair tax'. Read on to know the difference between each type of taxes and which one is better for you.
  • Withholding Allowances
    An important method that can be used to lawfully reduce the amount of payable taxes is claiming withholding allowances. Here, a comprehensive explanation of the term and the provisions under which one can claim this allowances are given.
  • Self Employment Tax Deductions
    Taxation is one of the most complex domains of business and finance. Tax is a legal and statutory compliance and dishonoring tax laws is a crime in almost every country. Self employed tax deductions is a legal provision that has been created by many governments, in order to help their tax payers.
  • Are Property Taxes Deductible?
    As the fiscal year comes to close, taxpayers start hunting for different types of provisions and enactments, with the help of which they can claim and avail a tax deduction. It is fairly common to see people forgetting to deduct property tax as the mortgage taxes and insurance payments are included in the monthly mortgage payments and property taxes are included in them. Home or property owners would be glad to know that they can deduct property taxes from their tax returns.
  • Capital Loss Carryover
    Carryover of capital loss is applicable when the capital loss you incur is more than the total capital gains in spite of carrying forward the loss into the subsequent financial year. The capital gains and losses are classified as long term and short term depending on the duration for which an asset was held. An asset held for more than a year is called long term, while a year and under is called short term.
  • Property Taxes by State
    Apart from the conventional income tax that is collected by tax collection agencies, local and regional governments also collect taxes such as the property tax. Here is a brief elaboration of the concept of property taxes by state governments.
  • Self Employed Tax Deductions
    Tax deductions bring down the amount you pay towards income tax considerably. Read the article and learn about all the self employed tax deductions and save money.
  • What is Tax Liability
    Governments all across the world levy tax on their citizens in order to raise finances. The genesis of the term tax liability lies in the phenomenon of unpaid tax.
  • New Jersey Inheritance Tax
    As the name suggest, 'inheritance tax' is the tax levied on an individual when he/she inherits the estate of a deceased person. In this article, we will take a closer look at the New Jersey inheritance tax, and try to understand of the intricate details of the same.
  • Taxes on Lottery Winnings
    The taxes on lottery winnings can be as high as 50 percent of the total cash amount, and the actual percentage is decided according to the annual income of the winner and the winning amount. To understand more about taxes imposed on lottery winnings, read on...
  • History of Taxes
    Taxes power the government economically, resulting in better infrastructure, medical care, security, education, etc. All through this article, travel through the history of collection of taxes in the United States of America.
  • Regressive Taxation: What is Regressive Tax System
    Taxes like a value-added tax or sales tax on food and other essentials can be a form of regressive taxation, which tends to take up a higher percentage of the budget of a person or family with a lower income. Read on to know what is regressive tax system.