Quick and easy instructions for obtaining your Tax Identification Number online, using the Bureau of Internal Revenue's online application.
If you're working online in affiliate marketing, then you need to make sure you understand what your tax liabilities are. Tax is quite straight forward and hopefully below will give you a brief overview of what you need to know.
You can use Form 8888 to split your refund between up to 3 accounts at U.S. financial institutions. Your refund can be direct deposited into checking or savings accounts, mutual funds and even brokerage accounts. You can use Form 8888 to buy U.S. Series I Savings Bonds or even to fund your IRA.
Permanent Account Number or PAN is a mandatory alphanumeric number for people who file income tax and make transactions of Rs.50,000/- and up (like deposits in a bank or Post Office). The rule was made mandatory on 2005 and since then, filing income tax and keeping the track of it has become...
Social security benefits are usually tax-free but not always. Interest income, dividends, pensions, IRA distributions, and employment income can all contribute to making your social security benefit taxable. Up to 85% of your social security benefit maybe taxable as income.
The first meeting of an IRS audit will determine the outcome. Knowledge is power. Understand what IRS auditors already know.
Is playing within the rules tax evasion and 'not paying your fair share'? Is everyone that lowers their tax bills evading taxes? Is lowering your tax bill illegal or something even the IRS expects? What is the difference between tax avoidance and tax evasion?
With the federal government in America practically hemorrhaging money, many people are looking towards closing tax breaks and loopholes to save the country money. The EIC is one of them.
Don't wait until next year to prepare to do your taxes next year. Review this year's return. Adjust your withholding. Get organized. Save your receipts. Document your business and travel expenses.
Most people know that tax brackets exist, but what does it actually mean that you are in this or that tax bracket? It means a lot and it means more than just how much tax you will be paying.