Blogs

You pay more or less in taxes depending on which U.S. state you live in. This is because every state has its own tax code and tax system. The four main taxes that determine how much individuals and businesses pay in state taxes are the corporate tax, individual income tax, sales tax, and unemployment insurance... Continue reading →

Every taxpayer is required to pay federal taxes, but not everyone with the same income is paying the same taxes. A major factor in paying higher or lower taxes depends on which state you live in. New York has the highest taxes in United States and Wyoming has the lowest. Alaska and Florida have no... Continue reading →

Tax preparation is the first thought that comes to mind at the start of tax season. Preparation and filing tax returns can be relatively easy with tax preparers. Hiring tax preparers for tax return preparation is fine, but you must ensure that your tax preparer is honest by checking your return before filing it. Also,... Continue reading →

Tax filing might have gotten easier with e-filing, but tax preparation is as hard as ever. No wonder most taxpayers seek help from tax preparers to file their taxes. Along with paid services, there are many free resources to get tax filing help for taxpayers. The IRS has many online, telephone, and in-person facilities for... Continue reading →

A “consumption tax” is a tax charged on goods and services whereas income tax is charged on income. Today, consumption tax sounds foreign, but before the passage of the 16th Amendment to the Constitution, taxes were levied primarily on consumption. It was only in 1913 that Congress was allowed to charge tax on income. The... Continue reading →

Are taxes charged on income or consumption better? That is exactly what some Republican governors are debating. Cutting personal and corporate taxes and increasing sales tax is currently being contemplated. Making their states attractive to investors has always been the strategy to increase jobs by states, and increasing of sales tax will help with that.Taxing... Continue reading →

The term ‘tax relief company’ has a bad connotation attached to it because of some fraudulent tax companies. The now well-known scams of American Tax Relief, Roni Deutch, and Tax Masters caused widespread distrust of tax relief companies. Taxpayers have begun to doubt any and every company that provides tax resolution services.Some fraudulent companies took... Continue reading →

During the past few years, many well-known national tax resolution companies were discovered to be running scams. These multi-million dollar tax scams shocked the nation with their enormity. After it became general knowledge that many tax relief companies cheat taxpayers using exaggerated upfront fees, false advertising, and business malpractices, taxpayers began to mistrust the tax... Continue reading →

One of the biggest indications of the tax season starting is the appearance of spam emails from the IRS or reputed banks in your inbox. These emails are not who they say they are. They are spammers trying to collect information from taxpayers in order to defraud the government out of your tax refund money.... Continue reading →

Tax debt increases with time. If you do not file taxes, the amount you eventually pay will not be the same. The IRS does not like taxpayers to postpone the payment of tax debt, so they charge interest on any back taxes due. If taxpayers take more time to pay their back taxes, the IRS... Continue reading →