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Are 401(k) Taxes Paid in Indiana?
Contributions to a qualified 401k account receive preferential tax treatment at the federal level. You will have to pay taxes on the earnings, but you can choose to do so now or in the future. On the...
View ArticleHow to Find My Income From the Previous Year
Prior year income information is necessary for many reasons, but some of the most common reasons include proving income for loan applications, educational financial aid and federal assistance programs....
View ArticleWhat Is the Difference Between a Federal Tax Credit & a Tax Grant?
When filling out your tax return for the year, you should understand some of the applicable items that reduce or eliminate the amount of taxes you owe, possibly producing a refund. Tax credits and tax...
View ArticleTax Relief in the United States
In 2005, federal officials made it much harder for Americans to find tax relief. The Bankruptcy Abuse Prevention and Consumer Protection Act assigned "priority" to most federal, state and local tax...
View ArticleAircraft Tax Help
An aircraft is a valuable piece of property, and like most tangible goods, requires the buyer or owner to pay taxes based on its value. Aircraft taxes apply to both private individuals and businesses....
View ArticleCan You Be a Resident of One State & Have a Job in Another?
With the 2011 unemployment rate hovering at 8 percent, jobs are hard to find. For some, it may make sense to work in the state next door. You are free to work in any state, but you should investigate...
View ArticleTax Debt Relief Programs
Owing the federal, state or local government taxes is a potentially serious situation. Taxation agencies can execute liens against you, which can lead to loss of assets, such as home equity, or wage...
View ArticleThe Adjusted Gross or Net Operating Income
Adjusted gross income (AGI) and net operating income (NOI) represent the amount of income an individual or company earns in a given time. An individual's AGI is the money he earns in a year minus...
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Section 203 of the Income Tax Act
Section 203 of the Income Tax Act describes the rules and regulations governing income tax deduction, collection, payment and statements. All companies in India are required to pay and deduct income...
View ArticleTax Debt Forgiveness Programs
Since federal government officials passed the Bankruptcy Abuse Prevention and Consumer Protection Act in 2005, consumers cannot receive full tax debt forgiveness. In some cases, federal and state tax...
View ArticleThe Rules of Return on Investment for Rental Income
Cleverly utilizing your resources to earn a return over time is one of the keys to building wealth. Purchasing a building and renting it to others is a way to invest money and earn income. When you...
View ArticleEmployment Taxes in Kansas
Like all employers and employees in the United States, employers and employees in Kansas are subject to employment taxes. An employer is supposed to withhold Kansas income tax from employee paychecks...
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Income Tax Act Rule 5
The Income Tax Act, Rule 5 governs the allowable depreciation for companies in India. The rule describes eligible block assets that qualify for tax depreciation, the percentage amount of allowable...
View ArticleIf I Owe Taxes Can They Be Taken Out Next Year?
The Internal Revenue Service will collect any unpaid tax, which may include putting a lien against your property, but it also understands that sometime taxpayers accidentally plan for too little taxes....
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Social Security Recipients and the Earned Income Tax Credit
The earned income credit is often confusing to many taxpayers. There are many qualification requirements, and the credit changes depending on the number of eligible children a taxpayer has. Recipients...
View ArticleHow Do Income Taxes Affect Aggregate Demand?
Governments impose taxes on a variety economic transactions --- including income earned from sources such as salaries, wages, self-employment, interest and dividends --- to raise funds to continue...
View ArticleRepairs Vs. Improvements When Doing Taxes
At the end of the year, both small businesses and individual taxpayers must differentiate between whether a repair or an improvement was made to buildings and equipment. This has a direct effect on the...
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Section 10 of the Income Tax Act
The Income Tax Act covers the collection and deduction of business and personal income taxes in India. Section 10 of the act outlines the rules and regulations governing income that is not included in...
View ArticleDifference Between 4506 & 4506-T
IRS tax forms 4506 and 4506-T both are requests for income tax information. The two forms are very similar in the information that both provide. However, there are significant differences between the...
View ArticleMy Ex-Husband Owes Taxes From a Previous Year: Do I Owe Too If We Filed Joint?
One of the financial benefits of marriage is that you can file a joint return with your husband and take advantage of lower tax rates on your combined income and a larger standard deduction. On the...
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