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Minnesota State Income Tax Information

Minnesota State Income Tax Information

We know that taxes are important to a state government when they're implemented even before there's an actual state and government. Minnesota's tax system, which officially began in 1849 with a tax levy for schools, was in place nine years before the Minnesota Territory became a state in 1858. Min......[Read More]
Does Pre-K Registration Count Towards Tax Deductions?

Does Pre-K Registration Count Towards Tax Deductions?

Raising kids is expensive, and part of the cost is to educate them. While public school systems can reduce education expense, pre-kindergarten (pre-K) is generally privately paid. Whether you can deduct the registration or tuition fees on your income tax return depends on what state you live in and ......[Read More]
What Should You Do if You Get a Missouri Sales Use & Withholding Tax Audit Letter?

What Should You Do if You Get a Missouri Sales Use & Withholding Tax Audit Letter?

The state of Missouri requires businesses to collect sales tax on the sale of taxable goods and remit the money collected to the Missouri Department of Revenue. If you purchase goods for use in your business and do not pay sales tax, you're required to remit use tax on these purchases to the Departm......[Read More]
How to Calculate Taxes From Credit Spreads

How to Calculate Taxes From Credit Spreads

A credit spread is created when you sell options at one strike price and buy identical options at a different strike price. If your proceeds from the sale of the first leg exceed the amount spent to purchase the second leg, you receive a net credit. To calculate taxes on the credit spread, each leg ......[Read More]
How do I Calculate the Tax for Restaurant Meals Ordered in Arkansas?

How do I Calculate the Tax for Restaurant Meals Ordered in Arkansas?

Arkansas has a sales tax on food. For most food, the sales tax is a reduced 3 percent. However, when food is prepared, such as at a restaurant, then the sales tax on the food is 6 percent. To calculate how much you will owe in tax, you will need to use the total amount of the bill and the tax rate o......[Read More]
What States Allow the Sale of Tax Lien Certificates?

What States Allow the Sale of Tax Lien Certificates?

Tax Lien Certificates are basically the proof of purchase that you receive when you participate at an annual county tax lien sale. These sales offer investors an opportunity to purchase the right to collect past due real property taxes. They are offered by the government to which the.........[Read More]
How to Report the Lack of Upkeep on a Vacant Property in Florida

How to Report the Lack of Upkeep on a Vacant Property in Florida

Vacant property that is lacking in upkeep can be an eyesore for your neighborhood and can even bring down the value of your home. It also can be a dangerous temptation for children or vagrants. You can report these vacant properties to the city commission office and the county offices where you live......[Read More]
Must I Itemize to Claim Charitable Deductions?

Must I Itemize to Claim Charitable Deductions?

Donating to charity is a worthwhile endeavor and can reap tax benefits as well, depending on your financial situation. When you file your taxes, if you have expenses that can be itemized, you do not always receive the maximum tax benefit possible by itemizing -- sometimes the standard deductions and......[Read More]
IRS Form 1040 Instructions

IRS Form 1040 Instructions

Internal Revenue Service (IRS) Form 1040 is available for download at the IRS website, along with other IRS forms and publications. The instruction books are voluminous so obtaining a print version of the publications is recommended. Married and individual taxpayers will find the table of contents t......[Read More]
What Does a Tax Attorney Do?

What Does a Tax Attorney Do?

Tax attorneys may work for the government, private companies, or be contracted by individual citizens to assist with matters pertaining to Internal Revenue Service transactions. Although tax attorneys are frequently involved in litigation, they also work on non-adversarial matters such as forming ne......[Read More]
Michigan Sales Tax Rules

Michigan Sales Tax Rules

Michigan requires consumers to pay sales taxes.gas pump sales image by Tammy Mobley from Fotolia.comLike most states, Michigan requires consumers to pay taxes on purchases. Specific rules and laws are in place in order to ensure that sales taxes are applied uniformly throughout the state..........[Read More]
How to Make a Fortune in Today's Real Estate Market

How to Make a Fortune in Today's Real Estate Market

You don't have to be Donald Trump to make money in the real estate market. You just have to be smart. Yes, you need a little bit of capital to get started but it's not impossible to quickly build wealth with a few smart investments.......[Read More]
Tax Filing Requirements in California

Tax Filing Requirements in California

Learn the income tax filing requirements in California.tax forms image by Chad McDermott from Fotolia.comMost states collect income and property taxes as part of the overall revenue generation and budgeting plan for the state. Each state has its own rules on how personal income taxes must.........[Read More]
Tax Write-Offs for a Single Person

Tax Write-Offs for a Single Person

No matter what you do for a living or how much money you make, taxes can take a big bite out of your wallet. You can reduce that tax burden and keep more money in your pocket by taking advantage of every tax break you are entitled to. As a single filer, you have access to a number of tax breaks for ......[Read More]
Tax Write-Offs for Newlyweds

Tax Write-Offs for Newlyweds

When you marry, you and your spouse begin a new financial life together. You have new filing options and tax breaks that aren't available to singles, though you may have to confront the tax drawbacks of married life as well. Even if you and your spouse are living much the same life as you did before......[Read More]
Tax Write-Offs for Catfish Farms

Tax Write-Offs for Catfish Farms

Catfish farmers in the U.S. need to invest $400,000 to $500,000 in a 100-acre fish farm to have a viable business but will experience profit margins so low that they may lose money, according to Dr. Robert Durborow of Kentucky State University Aquaculture. Regardless of whether they have a successfu......[Read More]
Value of Donated Cell Phones for Taxes

Value of Donated Cell Phones for Taxes

A taxpayer can donate a cell phone to a qualified organization and deduct the fair-market value of the cell phone. Donation are deductible if the taxpayer itemizes his deductions on Form 1040 Schedule A Line 17. A taxpayer can use one of four techniques to value their cell phone: cost or selling pri......[Read More]
Singapore Tax Filing Requirements

Singapore Tax Filing Requirements

Tax law in Singapore applies to foreigners and locals alike.Singapore image by Roy L. from Fotolia.comSingapore has rules governing who must file an income tax return. Generally speaking, the same rules apply to foreign residents in Singapore as to citizens of Singapore. Taxes must be.........[Read More]
General Information About Personal Property Assessment

General Information About Personal Property Assessment

Personal property assessment is the determined value of personal property for taxation purposes. By law, all personal property is valued at its real market value unless it is exempt from being taxed. The United States Department of Revenue has determined general guidelines regarding personal propert......[Read More]
IRS Tax Bracket Information

IRS Tax Bracket Information

In the U.S. tax system, the Internal Revenue Service (IRS) utilizes tax brackets when determining how much to levy. These tax brackets change annually depending on factors such as inflation and cost of living.......[Read More]