This weekend was rather slow and I took the opportunity to, what else? File our taxes!
We moved to Nevada from Oklahoma in October and my wife has been working since we moved here. I am employed out of California and have been since I lived there in 2004. Since then, I have been filing a [...]
The Federal Board of revenue in Pakistan has said in its latest report that only three percent of the country’s business outfits have paid taxes for fiscal 2007-08. The News quoted a senior official of the board as saying that out of the 45,000 industrial and commercial units registered in Pakistan, only 1,352 major units contributed 94.1 per cent of the total tax collection for the year. "This is most alarming situation for the economy that slumps in the tide of rising terror that disrupts the growth and even the operation of trade and industry, leading to downswing in tax collection by 23 per cent in June-January period of 2007-08 (current fiscal year)," the official said. This slump has forced the FBR to down-fix the tax collection target for the year 2007-08 by Rs.150 billion, FBR sources said. Last year, the collection stood at Rs.841.4 billion, and if the FBR collects Rs.850 billion this year, the net improvement would be that of Rs.8.6 billion, probably the lowe
Bristol says spiking alcohol tax would hurt hotels:
By VERNON CLEMENT JONES, Senior Business Reporter -
Nassau, Bahamas:
A major alcohol importer is cautioning the government against adopting recommendations to raise taxes on that product, arguing the move would devastate a hotel industry already awash in complaints over high bar tabs.
"It certainly would not be a good thing," said Eddie Gardner, VP of sales and marketing for Bristol Wines and Spirits. "Raising taxes on alcohol, especially wine, would have a strong negative impact on the hotel sector, it would increase already high prices on the wine list.
"Tourists already complain that the prices are too high because they're paying $19 for wine that would cost them $9 in the States."
Gardner is focused on possible fallout from any move to increase the government's revenue stream courtesy of alcohol taxes.
Last week, a special committee of public servants proffered the idea, suggesting an increase in duties and stamp tax o
The Pennsylvania House of Representatives has once again taken up the issue of school real estate taxes. Debate will resume when House members return to session on Monday, January 28.The central bill under consideration is House Bill 1600, sponsored by Representative David Levdansky (D-Allegheny). This legislation is intended to reduce school property taxes substantially without broadening the sales tax base; however, Representative Sam Rohrer (R-Berks) will offer an amendment to that bill which will expand the sales tax to professional services.But, somewhat ironically in a bill intended to reduce the tax burden on individuals, Rohrer's bill will exempt businesses from the new tax on professional services. So, businesses that need to hire a lawyer, for example, will not have to pay the sales tax. But, everyone else, that is to say, you and me, who might need, say, a lawyer for criminal, divorce, custody, estate, personal real estate issues, etc., will be subject to payment of the
In the Pre-Budget Report the Chancellor announced that the Planning Gain Supplement (PGS) would no longer be introduced. Instead local authorities are to be given the power to apply a new planning charge, the Community Infrastructure Levy (CIL).
Guest editorial by “funnelcake.”
So the Enquirer does a story on the County getting ready to sell of delinquent real estate taxes to collection agencies. Good job. The public gets a heads up on what may happen to them if they are behind on taxes.
The first thing most of my students want to do after they successfully purchased a property is to go and pay-off those pending back taxes and Tax Liens Certificates (also called TLCs) issued against the property. Unless you have lots of money to spend, DON'T DO THAT!!!!!! Learn more about this by reading my detailed eGuide: http://www.landforpennies.com/SecretsRevealed.php Basically though, you should use your cash for something else, like buying more property.Unless the Tax Lien Redemption period is almost over, there is NO reason why you need to pay these property taxes off. - If you use your cash for to do more deals instead of to pay off the back taxes, you should be able to generate MUCH more profits doing that than what the county charges you in interest on the non-paid property taxes. In most cases if you want to pay off these property taxes it is because you are afraid of having debt and perhaps also because you are fearful of finding somebody you can sell the property to befor
As we start the 2nd half of the Brett Farve love-fest, the Farves will start at their own 20. The old man of the Leo's, Jason Hanson, boots the kickoff out of the end zone. He never ceases to amaze me.Farve continues from where he left off, 2 completions give the Pack a 1st down at the 32. Then it's 9 more on a pass to Driver.FOX tells us that Marinelli is not happy. No. Fucking. Shit. Neither am I...In the meantime, it's another 1st down for the Pack at the 45. Then it's Jones for 8 more. They are making it look easy. Typical, a Lions D-back goes for the strip, gets nothing but air.FUUUUUUCK!. Koren Robinson is WIDE OPEN as Stanley Wilson falls down in coverage. Typical Lions luck. Robinson is down at the Lions 4. Just fucking kill me now, this season is going to over soon if the Lions don't do SOMETHING!Christ, Favre is 21-27-260-1 TD! Make it 22-28-264, and 2 TD's. It's Greg Jennings again catching the touchdown pass.24 to motherfucking 9, Packers lead. Pardon my French, but I'm n
I found an article in the Edmonton Journal yesterday that I found quite interesting. It is written by the city's manager of assessment and taxation, so the information is right from the horse's mouth. Some interesting facts: Once the administration...
Debbie writes:
I can pay my property taxes in 2007 and claim them in 2007, or pay them in January and claim them for 2008.
In 2007 we are in a higher tax bracket than we will be in for 2008. So, it makes sense to use the property tax (and state income tax) deduction this year, but only up until the point when it would trigger AMT, right?
In other words, the most efficient way to work it would
The senate reached a compromise on Thursday to extend the federal ban on internet taxes for another seven years. This is the longest extension of this ban so far. New Hampshire senator, John Sununu played a key role in getting this extension completed, although it didn’t go as far as he wanted. John Sununu wanted the ban [...]
Rob asks:
Hello Gina. I've been trying to figure out what my income and taxes will be in retirement and was hoping to get some help.
If a married couple does not work after the age of 65, and we receive money from pensions/social security/401k/Traditional IRA/Roth IRA annually and/or monthly, do we have to pay Social Security & Medicare (7.65%) taxes on any of the income we receive from these
Wal-Mart (WMT) does what it can to fight local taxes in areas where it has stores. According to a...
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Bolivia in bind with gas policy
President Evo Morales "nationalized" the country's crucial natural gas industry last year by forcing foreign companies to accept new contracts and pay sharply higher...
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If reviewing your assessed value of your home is not a regular routine, given the current real estate trend, you may want to start making it one.
Property tax bills are generated by taking the assessed value of your home and multiplying that value by the tax rate for the area where your home is located. Your assessed value is suppose to come close to the fair market value of your home. If home
Yes, higher, that’s because in the U.S. there are multiple taxes, which result in Americans paying a higher effective tax rate than in Europe.
Next time a politician warns that his opponent wants to tax you like the Europeans, tell him, “I wish!” Then ask him (or her), why do we pay so much more [...]
I feel my money going to Washington is largely wasted. I think when the Democrats win big next year they will really be tempted to raise taxes. Oh, they will say that they are going to raise taxes on the Rich. I am by no means rich
Homeowners, has your home gone down in value?
Are prices going down in your neighborhood?
With California 7th in the Nation with Foreclosures, has this affected the price of your home?
I think so! And yet, I would be willing to bet you are still paying the same property tax on your home that your were paying, let’s [...]
This article is a general overview of clergy and their obligation to pay self-employment taxes in response to an anonymous reader. I strongly recommend that you discuss this article with your qualified tax professional.
If you are an ordained, commissioned or licensed member of a religious order or a christian science practitioner and you object, based on religious reasons, to receiving
How to Apply to the Google Adsense ProgramApplying for a Google Adsense account is quick and easy for any interested webmaster. Just point your browser to www.google.com/adsense and click on apply. Click on the drop down arrow under account type and select whether you’re an individual or business. If you’re not sure which one to choose, click on the question mark to the left. Next, select your country or territory.Under website information, it asks for your primary URL. If you have your own website, list it here. If you are using a blogging site such as writingup.com or bloggingparty.com that URL goes here.Select your website’s primary language. Google adsense supports Chinese (simplified), Danish, Dutch, English, Finnish, French, German, Hungarian, Italian, Japanese, Korean, Norwegian, Polish, Portuguese, Russian, Spanish, Swedish, and Turkish.Select the product you want on your pages. Adsense for Content means you will have advertising targeted to the content on your pages. For
Photo courtesy of here.
After building several brand new buildings to replace several that didn’t have anything wrong with them, Cincinnati Public Schools is gearing up to ask property owners for a tax increase, claiming the district faces a $79 million deficit without more money. But before we start thinking about those figures—and whether they are accurate or politicized—what about the fact that Ohio’s school funding formula has been found unconstitutional on several occasions? Should we really raise our taxes to fund a broken system? Or, should we push to fix the system first?
Reed asks:
I have a question about LLCs and federal taxes.
I know that if you create an LLC and don't file an 1120 (i.e. you don't pay yourself as a W2 employee of your own business), then whatever income you make in the LLC just flows through to your personal taxes.
What I don't know is how your taxes and deductions change when you do file an 1120. Do you end up with an extra level of federal
Reed asks:
I have a question about LLCs and federal taxes.
I know that if you create an LLC and don't file an 1120 (i.e. you don't pay yourself as a W2 employee of your own business), then whatever income you make in the LLC just flows through to your personal taxes.
What I don't know is how your taxes and deductions change when you do file an 1120. Do you end up with an extra level of federal
Trent asks:
Suppose I make about $100,000 in a salaried position where my employer pays 1/2 FICA. But then I also have a sole-proprietorship where I make about $100,000 and current pay "both halves" of FICA.
How do I work this into the FICA limit of ninety something thousand (for SS of course...no limit on medicare/caid)? Would I pay the roughly 15% up to the limit?
I am currently paying
Trent asks:
Suppose I make about $100,000 in a salaried position where my employer pays 1/2 FICA. But then I also have a sole-proprietorship where I make about $100,000 and current pay "both halves" of FICA.
How do I work this into the FICA limit of ninety something thousand (for SS of course...no limit on medicare/caid)? Would I pay the roughly 15% up to the limit?
I am currently paying
The story begins with the exclusion of candidate Ron Paul from a Republican presidential debate coming up in Iowa a little over a week from now. The debate was sponsored by two right wing organizations, the Iowa Christian Alliance and Iowans for Tax Relief.
The head of Iowans for Tax Relief said that Ron Paul was not invited because Paul is not “credible”. The same organization is now alleging that Ron Paul’s supporters have responded to the failure to include Paul by attempting to hack the web site of Iowans for Tax Relief.
As for myself, I don’t believe that claim. I think it’s just a sneaky way for the Iowans for Tax Relief to spread the word that they have a web site. Oh, darn it. I’ve been suckered in to their backhanded little PR campaign.
Hacking and debating aside, what struck me in this story is the weird political alliance between a Christian organization and an anti-tax organization.
I seem to remember that Jesus is said to have onc
How to Apply to the Google Adsense ProgramApplying for a Google Adsense account is quick and easy for any interested webmaster. Just point your browser to www.google.com/adsense and click on apply. Click on the drop down arrow under account type and select whether you’re an individual or business. If you’re not sure which one to choose, click on the question mark to the left. Next, select your country or territory.Under website information, it asks for your primary URL. If you have your own website, list it here. If you are using a blogging site such as writingup.com or bloggingparty.com that URL goes here.Select your website’s primary language. Google adsense supports Chinese (simplified), Danish, Dutch, English, Finnish, French, German, Hungarian, Italian, Japanese, Korean, Norwegian, Polish, Portuguese, Russian, Spanish, Swedish, and Turkish.Select the product you want on your pages. Adsense for Content means you will have advertising targeted to the content on your pages. For
Dales writes:Hello, Have a question about deducting property tax. I purchased property from my sister. I have been paying her property taxes for some time now, and I understand that I was not able to deduct this from my federal taxes (even though she could deduct what I paid since she owns the property). Since [...]
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