It's Time to Test Your Knowledge - Is Social Security Taxable?
When it comes to social security and taxation, several citizens would be keen on knowing whether it is taxable. Here, some provisions of the concept of social security and the tax exemptions that are granted, have been discussed.
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What is a VAT Invoice
All that you need to know about VAT invoices is presented in the following article.
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7 Different Types of Taxes That You Pay
Types of taxes that you pay
In the U.S., taxes are collected by the federal, state, and local governments. By the law, every working individual is required to file tax returns before a particular date, depending on the type of tax. This Buzzle article enlists...
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Who is a Statutory Employee?
Fact about statutory employees
A statutory employee is someone who works on a commission or contract basis, but can be treated as a regular employee by statute. This allows him to be eligible for certain tax benefits. This Buzzle articles tells you about the...
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Purpose of the IRS Form 8283 and Instructions to Fill It
Purpose of IRS form 8283
The IRS Form 8283 helps claim some noncash charitable contributions, which include items that you may have donated (excluding money). Buzzle explains the purpose of the IRS Form 8283 and the instructions to fill it.
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Difference Between the W-2 and W-4 Tax Forms
Difference between the W-2 and W-4 tax forms
The W-2 and W-4 tax forms are specifically meant for employees, and are both related to taxation formalities. Buzzle outlines the difference between the W-2 and W-4 tax forms.
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Instructions to Fill IRS Form 5695
Instructions to fill IRS form 5695
If you have made energy-efficient home improvements, then the IRS Form 5695 needs to be filled if you are eligible for energy saving tax credits. The Buzzle article below will enlist the instructions to fill IRS Form 5695.
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The Purpose of Form 4972 and Instructions to Fill It
Purpose of Form 4972
Form 4972 is an IRS form with stipulated terms and conditions that is filled out to reduce the taxes that may be incurred on huge distribution amounts. The Buzzle article below explains the purpose of Form 4972, and the...
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How to Stop an IRS Tax Levy
A tax levy by the IRS can prove fatal to your financial health. The best way to avoid such a situation is to heed their notices and warnings, and co-operate with the IRS authorities to work out a solution. Here, Buzzle has enlisted...
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What is a W-9 IRS Tax Form and What is Its Purpose?
Purpose of W-9 IRS tax form
The W-9 form is used to provide your correct Taxpayer Identification Number (TIN) to the concerned authorities. The following Buzzle article will tell you all about the W-9 IRS tax form and its purpose.
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Difference Between Tax Levy and Garnishment
Difference between tax levy and garnishment
Tax levies and garnishments are both legal actions that command seizure of your assets. Through this Buzzle article, you will understand the difference between tax levy and garnishment.
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Taxes on Lottery Winnings
The taxation on lottery winnings can be as high as 45% to 50% in US. This includes the Federal tax, tax levied by the states, and in some cases, taxes levied by the cities. In this article, we will try to know about the taxes that...
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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.
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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.
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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...
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Property Taxes by State
Apart from conventional income tax, that is collected by tax collection agencies, local and regional governments also collect other taxes such as property tax. Here is a brief elaboration of the concept of property taxes by state...
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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.
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Is Cash Gifting Illegal?
Cash gifting is considered legal. However, there's a limit to the amount that can be gifted. Another aspect of cash gifting is the way in which cash/money is used. Let's look into the following facts that will help us determine if...
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Information about Regressive Tax
Regressive tax is one of the system of tax collection. Here, a brief yet comprehensive elaboration on this taxation system has been given. Keep reading to know more...
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What is Carbon Tax?
The concept of carbon tax has been in existence in some nations since early 1990s. It is an environmental tax, which is used as a tool to promote use of environmental-friendly energy sources.
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Capital Gains Tax Rate
Being aware of the capital gains rate of tax 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...
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Rental Property Tax Deductions
Tax deductions for rental property imply two concepts, namely deductions for the landlord on income received from this property, and secondly, the property that a tenant uses. Here, an explanation based upon the guidelines set by...
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A Definitive Look at the Pros and Cons of FairTax
FairTax is a radical proposal of the U.S government that could significantly change the country's economics. In this article, we will look at the pros and cons of this tax reform.
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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. It was used as the basis of many supply-side arguments in the 1980s, and is oddly relevant again in the modern-day.
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Is Disability Income Taxable?
One common query regarding income tax returns is whether disability income is taxable or not. According to the IRS, any income in the form of compensation is liable to taxation. Yet this taxation criteria depends on who pays for...
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How to Get a Federal Tax ID Number
A federal tax identification number is a must for those who own or intend to own their own estate or business with employees working under them. This Buzzle article will give you some useful information in reference to the...
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Check Out This Notable Information to Know How Bonuses are Taxed
It is important for both employers and employees to understand the taxes levied on any bonus that is granted. In this article, we provide you an overview of the same.
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Information about Claiming a Child on Tax Return
The following article deals with facts about claiming children on taxes. Different aspects of the process of claiming child tax credit are presented below.
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Flat Tax Vs. Fair Tax
The floor is open for the debate titled 'flat tax vs. fair tax'. Read the article to know the difference between the two and decide which one is better for you.
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What are Withholding Allowances?
A method to lawfully reduce the amount of payable tax is by claiming for a withholding allowance. Here, a comprehensive explanation of the term, and the provisions under which one can claim this benefit, is explained.
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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. Home or property owners would be glad to know that they...
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Capital Loss Carryover
Carryover is applicable when the capital loss you incur is more than the total 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...
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Evolution of Tax Structure in the US
Taxes power the government economically, resulting in better infrastructure, medical care, security, education, power, etc. In this article, we will look at the evolution of taxes in the United States of America.
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