Missouri's Department of Revenue oversees state taxes.missouri outline image by Kim Jones from Fotolia.comLike most U.S. states, Missouri imposes several different taxes on its residents. The state's Department of Revenue manages tax policy, which includes taxes on income, consumption and...
The first-time homebuyer's tax credit is a federal tax credit allowing eligible homeowners to claim a limited tax credit for purchases made between 2008 and mid-2010. The allowable credit amount depends upon when the homeowner purchased the home and whether the homeowner is a first-time buyer. Since
For a student making under $60,000 a year or a family making under $120,000 a year, the Lifetime Learning Credit may be a good way to help pay for college expenses.
There's a debate ongoing in Washington concerning tax reform. This was last done in 1986 and was done to simplify a tax system encrusted with special rates, exceptions, loopholes, deductions and credits for special interests. ...
Running a business is exciting and exhausting but sometimes you need to take a step back from the day-to-day activities of running a business and give it a business health check. If your business is ...
In this situation of crisis in the economy, the people suffering from over burden have left balance into a condition of inequality between their liabilities and financial structures. In this state of confusion, there are number of obstacles that have led to down struck of people in this economy. Liv
Each year, the IRS sends out over 200 million correspondence letters to taxpayers and receives about 20 million correspondences from taxpayers. The correspondence quantity has greatly increased in the recent past due to significant changes in the tax code that result in many taxpayers' inquires
Tax returns are forms filed by the Internal Revenue Service (IRS) or the state tax collection agency. These forms contain information on the calculation of income tax or other taxes. The standard US individual tax return is form 1040. There are several variations of this form such as the 1040EZ and
Awareness of deductions available for rental property in Spain are patchy. While some are aware that it is possible to make a claim for rental of their primary residence most are not aware that this can be extended to expenses apart from the rent.
You are about the "crack the code" on business expenses and tax deductions.Following this simple-to-follow and easy-to-implement information will help you get the most out of your tax deductions.
Here are some handy answers to some frequently asked questions regarding IRS tax liens. Read more...
It is actually possible for the US taxpayer to obtain tax relief on the sale of their home, if you receive a gain on the sale of your main home. There is a way to exclude part or even the entire gain from your income. Individual tax payers may exclude $250,000 in capital gains and, if married and fi
Estate TaxesWhereas most investors are aware that they may incur an income tax liability, they are NOT aware of their exposure to US Federal and State Estate Taxes. This is a tax that applies to the v
Each year the IRS requires individuals to file their personal income taxes. This involves reporting income from employment, self-employment, partial employment and other forms of income. Personal income taxes can be filed a number of ways including via a tax preparation company or an accountant. How
As tax time approaches, many people are wondering how to avoid an audit. This is understandable because facing an audit is one of the most nerve-wracking things that a person can go through.
The 2008 presidential campaign saw a record breaking $1.69 billion in contributions from private individuals and political action committees (PAC), according to the Federal Election Commission. The IRS gives a tax break for charitable donations to promote giving, and contributing to a presidential c
The United States loses an estimated $100 billion in tax revenue every year from abusive tax shelters. American citizens and resident aliens must report income from all sources within and outside of the United States. Failing to report your total taxable assets to the Internal Revenue Service (IRS)
The Internal Revenue Service provides specific guidelines for divorced parents claiming their child as a dependent for tax exemption purposes. For tax exemption purposes, "dependent" means any qualifying child who meets the IRS qualifying child test. Only one parent may claim the dependent exemption
Online auctions and retailing is big business and growing every year. eBay is the number one site for individuals to sell items and products on the internet. If you are thinking about selling on eBay, one question that you might have is if you are required to pay income tax on your sales? This artic