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Taxes : Business & Finance
Payments received from renting a home, townhouse or condominium out are taxable income, and the Internal Revenue Service requires landlords to report it as part of their gross income. Property owners who rent out a portion or all of the home are eligible for a number of tax deductions, which lowers
Like most other states, Tennessee collects a state income tax in addition to the federal income tax paid to the Internal Revenue Service. To be required to file taxes in Tennessee, you must be legally domiciled there, meet certain income requirements and not be eligible for any additional exemptions
The 1031 tax free exchange tax expenditure review starts on page 425 of the recently released 1,000 page report by The Congressional Research Service called "Tax Expenditures: Compendium of Background Material on Individual Provisions" for the Senate Budget Committee. Chairman Senator Conr
Foreclosure is a worst-case scenario for the homeowner who is unable to pay for his property. While moving is stressful under the best of circumstances, trying to find a new home is especially difficult when there are few resources available and you're about to be evicted for nonpayment. To help hom
Being behind on your taxes can be stressful and worrisome for anybody. The main reason for tax worries are due to a person's inability to plan accordingly during the year before tax time. Luckily, there are resources available that will give you tax relief help and will help you permanently res
Several websites offer appraisal guides to help you determine your vehicle's value, whether you plan to sell it privately or trade it in toward another vehicle purchase. Other factors may affect your vehicle's value, such as market conditions, buyer interest, availability or necessary repair costs.
Your job as a domestic worker may require you to wear different hats every day. One day you may need to supervise your employer's children and on others you may need to provide cooking and cleaning services. Regardless of what your official role is in the household, the nature of your domestic work
A loan from the Small Business Administration (SBA) could rescue your business when no other funding sources are willing to lend. In your loan application, the SBA will ask you to submit tax information that it will use to decide whether your company could benefit from an SBA loan and whether you'll
If you provide more than half the support for your children under the age of 19 or for certain other relatives that live with you, you can claim them as dependents on your tax return. You can still claim dependents if your dependent owes money to the Internal Revenue Service, but he must also file a
Income taxes on business profits receive the most attention, but they are far from the only ones you need to know about. These can add considerably to the cost of doing business because of the financial outlay and time demands. Avoid penalties and interest by complying with these other responsibilit
Ever since the State stopped assuming that your only house is your primary residence, property tax bills shot up for everyone. Yes, if you have not declared the fact that your only residence is your primary residence ready yourself to cough up more in property taxes. The simple solution is to send i
You are allowed a personal exemption for your taxes. This means that each year, a certain amount that is adjusted for inflation will reduce the amount of income that is subject to tax. Personal exemptions depend on a variety of factors, such as tax filing status and whether you have dependents. In 2
Should you use Schedule C or Schedule C-EZ for your sole proprietorship? Read on to find out.