Illinois Tax Equations for Payroll Checks for Small Business

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Every business that operates and has employees in the state of Illinois must pay payroll tax by law. While the exact amount of tax owed varies based on company size, location and earnings, three types of payroll-related tax exist that businesses must pay: Illinois income tax, local tax and state une

The Salary of a Mayor

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Across the United States, cities and towns are governed by mayors. The principal duty of a mayor is to oversee the day-to-day operations of a town or city. This could include managing the budget, recruiting businesses, ensuring safety and responding to residential requests and complaints. As with ot

Students and Tax Deductions - Use Book Knowledge and Avoid IRS Debt

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You need a break! Students are famously broke. You have to seek flexible employment to go to school full time. This usually means a pay cut. When you finally graduate and get a good paying job, most of that income has to go towards paying off your student loans. So is there a break out there? Here a

Tax Credit for Dependents of Divorced Parents

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Raising a child is an expensive process that can be especially difficult for couples where both partners work and divorced parents. The Internal Revenue Service offers two tax credits to parents that can ease the financial burden of raising a child: the Child Tax Credit and Dependent Care Tax Credit

How is Gross Pay Calculated?

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Gross Pay. US Business Law / Taxes.

Offshore Trust – An Overview

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The only way to protect your wealth or part of it is through a trust. It could be through an onshore discretionary trust or an offshore discretionary trust. A trust is an arrangement where a person (t

Hiring Professional Tax Help - Waste of Money Or an Investment?

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Seeking professional help, of any kind, can be hard to do. Professional help, often, comes with a hefty price tag.

Percent of Individual Income Going to Taxes

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As of 2011, the Internal Revenue Service collects federal tax based on a graduated income tax system. Rather than requiring all taxpayers to pay a particular percentage of their income or charging a different flat rate to higher income taxpayers, the IRS taxes part of the taxpayer's income at a low

Understanding Taxes

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You might think that in these days of simplified filing of returns, you don't need to collate all your tax deduction at source (TDS) papers, proof of advance tax paid and the like.

How Do I Calculate Estimated Taxes?

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Ways to calculate estimated taxes for a self-employed business owner filing business taxes using Schedule C and previous tax years.

Pre File Form 2290 Online

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Not everyone can get into a trucker's shoe. Even to speak about a trucker's lifestyle, you need to experience it personally and at the whole, love it. Not many love what truckers do and that ...

The Basics Of Income Tax

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Paying taxes is one of the hardest things for us to do - I can't imagine anybody that'd actually hand out the government's "share" of our income willingly. That's what income tax basically is, the ...

Tax Debt Relief For Back Taxes

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Life can come at you fast. There are a million errands to run and responsibilities to uphold. Yet, somehow, one of the most important ones seems to fall through the cracks. If you have not filed your taxes for one or more years, you are accumulating back taxes that will haunt your financial future.

How Much Do You Get for Your Kids As a Tax Deduction?

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If you have kids, you are eligible to claim them as dependents on your tax return. The IRS allows you to take one exemption for each child, so the more kids you claim, the higher your deduction will be. These exemptions are fixed in amount and reduce your taxable income. However, calculating how muc

Michigan's Foreclosure and Abandonment Laws

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Some delinquent Michigan homeowners choose to move out of the home during the foreclosure process. While you may think you are doing the right thing, abandoning the home can actually have negative consequences. The foreclosure process can take up to a year in Michigan. However, the process can be si

The Beginning Salary of Motorcycle Mechanics

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Motorcycle mechanics are responsible for the repair and maintenance of motorcycles and related vehicles such as all terrain vehicles (ATV), mopeds and scooters. The vast majority of motorcycle mechanics work exclusively for a motorcycle dealership and work with only one or a few motorcycle manufactu

Tax Relief - Economic Stimulus Payments

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A very important part of tax relief is the receipt of economic stimulus payments. These payments will begin to roll out in May, 2008. In many instances, you have to do nothing. If you are eligible for a payment, all you do is file your 2007 tax return and leave the rest to the Internal Revenue Servi

Are Divorce Lawyer Fees Tax-Deductible?

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The Internal Revenue Service has special rules for divorced taxpayers who are deducting attorney fees. Generally, taxpayers who spend money on attorney fees can deduct them if they are for tax attorneys, business law attorneys or family law attorneys. Divorced taxpayers may deduct their legal fees f

Taxation of Property Income

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The Internal Revenue Service taxes rental property income in the same year the rental income was received. However, the depreciation rules require landlords to depreciate the costs of improvement incrementally over the property's useful life.

The IRS and Offers in Compromise

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Offers in Compromise are available for those who have failed to pay their taxes. There are several variations of this type of tax agreement.