What’s the difference between a taxidermist and a tax collector? Humorist Mark Twain says, “The taxidermist only takes your skin!” That’s the opinion of many Americans. Indeed, ridiculously high tax bills seem prevalent. Thankfully, tax breaks give you legal options to keep more of your money for yourself and away from the government.
Tax breaks are [...]
Posts Tagged ‘tax preparation’
How To Get A Break On Taxes Before They Break You
Rapid Refund Tax Refunds: Bad For Your Wealth
One in 10 Americans will take out rapid-refund anticipation loan option from their tax preparation service this year. This is essential a very short term loan, only a few weeks, between when you take the rapid refund and when the government issues the amount due to you. However, since the duration is so short, many [...]
Don’t Pay Higher Tax Because You Are Self-Employed!
Due to the high self-employment (SE) tax all the self -employed people are very annoyed. There is a valid reason for them being frustrated; SE Tax is double the federal payroll tax. A self-employed person has to pay 15.3% of SE Tax whereas an employee just pays 7.65% federal tax. A Schedule C filer is [...]
Donate to Help Haiti Today - Receive Immediate Deduction on 2009 Tax Return
Raleigh NC Tax Preparation
A few days ago in a email news item I made the distinction that the Haiti disaster is now a qualified disaster according to the IRS (http://www.irs.gov/newsroom/article/0,,id=218615,00.html).
And I mentioned in that email, there are rumors that said people are able to make a deduction for donations to Haiti on this year’s (2009) [...]
Give to Relief in Haiti - Get Instantaneous Tax Deduction on 2009 Tax Return
Raleigh NC Tax Preparation
In a recent email news post I made the distinction that the Haiti disaster is currently a qualified disaster says the IRS (http://www.irs.gov/newsroom/article/0,,id=218615,00.html).
I said in the email that there are rumors that said people would be able to make a deduction for contributions to Haiti on this year’s (2009) tax return - [...]
A Short Timeline of Tax Practices of the United States, Chapter 3
Raleigh NC CPA
W. Marc Gilfillan, CPA, NC, individual and business CPA and Tax expert, shares about the history of taxes…
So the question remains, what happened with taxes in the United States?
US tax makers have been collecting what they have been sowing for a long time. The honor system has been trumped by a system in [...]
A Brief Timeline of Taxation of the USA, Section 2
Raleigh NC CPA
W. Marc Gilfillan, CPA, NC, individual and business CPA and Tax expert, shares about the history of taxes…
1861 - After Lincoln was elected, the South walks out on Congress and form the Confederate States of America with a rewritten constitution to keep the newly formed country’s power to tax in check.
1862 - The [...]
A Short Timeline of Tax Practices of the US, Part 1
Raleigh NC CPA
W. Marc Gilfillan, CPA, NC, individual and business CPA and Tax expert, shares about the history of taxes…
Between 1868 to 1913, about ninety percent of the federal government’s revenue was derived from tax on alcohol and tobacco. While the Civil War was going on the government instituted a short income tax, but it [...]
The Lesson in Taxation Practices, Part 9: Tax Law, the Slavery Issue, and the American Civil War
Raleigh NC Tax Preparation
W. Marc Gilfillan, CPA, NC, individual and business CPA and Tax expert, shares about the history of taxes…
“Slavery - the one cause of the Civil War.” - John Stuart Mill, 1862
Can there be any doubt concerning it? Of course the American Civil War was about slavery… was it not? Well actually, one [...]
The Lesson in Tax Law, Chapter 8: Tax and The Boston Tea Party
Raleigh NC Tax Preparation
W. Marc Gilfillan, CPA, NC, individual and business CPA and Tax expert, shares about the history of taxes…
Ah…. finally an event in history clearly about oppressive taxation. Was the Boston Tea Party a protest against the British tax on tea, as we were all taught? No, not one bit. The colonies had [...]