Content Related To 'tax-laws'
If you’re operating a sole proprietorship or partnership, you might want to consider the advantages of incorporating your business. You will not only enjoy the benefits of limited personal liability but also generally pay less in taxes, namely the self-employment/Federal Insurance Contributions Act tax.
Websites General The Income Tax School – A list of websites relating to tax practice, tax professionals, licensing agencies, and the IRS. Federal & state tax Legalbitstream – Full text of U.S. tax cases, including Tax Court regular and memorandum opinions (back to 1990). Also links to full text of IRS revenue rulings (back to […]
This is an act that imposes criminal liability on accountants and others who prepare federal tax returns if they (a) willfully understate a client’s tax liability, (b) negligently understate the tax liability, or (c) aid or assist in the preparation of a false tax return.
Lea en español Under the Internal Revenue Code, individual taxpayers may exclude certain money received from taxable income. The most common exclusions are: Gifts: A gift is generally not considered taxable income for the recipient. Federal law, however, set an annual limit on how much you may receive as a gift from any donor. Personal […]
Keep records of contributions to nondeductible individual retirement accounts, such as a Roth IRA, indefinitely. Without them, you may find yourself paying taxes again when the money is withdrawn. Some financial institutions keep records of IRA contributions, but its best not to count on it.