Donating a car to charity is not that difficult. However, you need to be aware of the tax regulations before you donate your car to a non-profit organization. The IRS provides some general rules of thumb on car donations: Starting in 2005, if the claimed value of your donated car exceeds $500 and the item is sold by the charitable organization, your tax deduction is limited to the amount of money the charitable organization actually receives from selling the vehicle. The charitable organization must provide you (the donor) with a written acknowledgement within thirty days of the sale, specifically stating […]

When solar cells first came on the scene in the 1950s, they were simple. Now, there are a wide variety of cells and more are coming as technology improves. An Overview of Solar Cells Through The Years Solar cells are the basic component of any active system used to convert sunlight into a form of energy. Traditionally, solar cells were used as the key part of panel systems that generated electricity or heat for homes. These days, the technology is used in a wide variety of applications, which means the style of solar cells vary per application. A traditional solar […]

The last thing most people think about when starting a business is doing taxes. But proper planning will make doing your taxes much easier – and keep the IRS happy! Here are 3 simple tips for keeping proper records: Not only will this make record keeping a lot simpler, but if you are ever audited (having your tax return reviewed in detail by the IRS), you can prove your expenses, and save yourself money. As your business grows, you’ll have more and more activities to keep you busy. The last thing you’ll want to do each April 15 is to […]

The County Tax Collector is as independent government agency and is elected for a four-year term in the Presidential election year. It is essential that a County Tax Collector is independent to ensure that it can serve the taxpayers, local businesses and local and state agencies correctly. The duties of a County Tax Collector are: • Collecting property taxes for every local government agency with the power to levy taxes • Serving the state as an agent for the Department of Highway Safety and Motor Vehicles, the Department of Environmental Protection, the Department of Revenue and others • Managing local […]

Simple questions are often the most difficult to answer. Or so it seems when dealing with the government. Small businesses have enough to worry about around tax time without having to struggle to find the information they desperately need. So, we have done much of the work for you. Below you’ll find a list of valuable online tax resources every small business should bookmark. You’ll find they put a world of information right at your fingertips. They also offer contact information for agencies you may need to deal with directly. New York State Department of Taxation and Finance – http://www.tax.state.ny.us/prompt/default.htm […]

You’ve probably read in the newspapers of various celebrities and successful business who manage to avoid or at least substantially reduce their UK taxes – whilst a significant proportion of the general public are paying close to 50% of their income in tax. Well, there’s nothing to prevent you using some of these techniques to slash your UK taxes as well, depending on your circumstances. Here’s some of the techniques that the Rich & famous use: Make the most of your offshore statusPeople like Mohammad al Fayed make tremendous use of their non UK domiciled status. If you’re an overseas […]

Most people don’t really look forward to filing their tax returns and paying their taxes. As it is, there really isn’t much to look forward to because it is a tedious process that can take weeks to complete. Some people even have the bad luck to raise the interest of the IRS. The trouble is, most of these people’s mistakes are not intentional. They just lack proper tax preparation, and in all probability, must have rushed through the filing process. Lack of preparation and attention to detail are the most common faults of people who often get flagged by the […]

Preparing taxes is one of the least enjoyable tasks a person faces each year. While many single or multiple income households feel that they can prepare their taxes on their own each tax season, it is a good idea to think about taking advantage of professional tax preparation services. In fact, if you’ve ever found yourself wondering if you could take a specific deduction, if you could take advantage of other deductions you don’t know about, if you could be paying less or getting a larger refund, or even if you simple wonder if you are preparing your taxes properly, […]

Just in time for tax season you will find yourself presented with this years editions of popular tax preparation programs that promise to make tax filing a breeze for the average person. Which one is right for you and what are some of the most popular electronic tax filing solutions? Read on as we discuss your tax preparation options and explore the popularity of electronic tax filing. What to look for in choosing a tax preparation solution? Newcomers should look for software that takes a step by step approach throughout the digital tax preparation interview and one that presents interview […]

Self-employed individuals always cringe at the amount of taxes the pay to the IRS and state. Here are tax strategies for self-employed individuals that reduce those tax amounts. Tax Strategies The good news is being self-employed is one of the best tax strategies out there. Unlike a salaried employee, the full scope of tax credits and deductions available in the tax code are now available to you. The key, of course, is understanding the available deductions and organizing your business in a manner that allows you to maximize the write-offs. The number one tax strategy for self-employed individuals is to […]