Sales tax evasion is a serious issue. States use the money collected in sales taxes to fund state run programs, centers, parks and assistantships. When someone engages in sales tax evasion they are taking money out of those state run programs that are so vitally important to the community of any sta
Determining what is and what is not real property is important in real estate transactions. Although definitions may vary by state and area, all real property does share several characteristics.
Every year all residents of the United States are required to pay a federal income tax based on their annual salary. Tax brackets change every year, so it is important to find out the exact tax brackets for the given year. You can find these tax brackets at the local post office, as well as all nece
The Massachusetts Department of Revenue enforces Massachusetts tax laws, including state income tax laws, which tax different types of income at different rates. All eligible Massachusetts residents must file personal income tax returns by April 15 each year unless they file for an extension.
The Emergency Tax Relief Act, also known as the "Katrina Emergency Tax Relief Act of 2005" is a federal law that offers tax relief for Hurricane Katrina victims. The act not only applies to those individuals directly affected by the storm, such as homeowners, but also provides assistance to others,
While Internal Revenue Service (IRS) fax guidelines have gotten stricter over the years, you can still fax most tax forms to the government for processing if you make prior arrangements. If you don't want to electronically file taxes, fax provides a faster return process than the mail and allows you
Retirees can keep the benefits from pension investment by protecting income. Tax relief is available for the gains made on salary investment. A pension plan is an investment that secures the amount saved for retirement during a worker's work life and gains income benefits that are taxed. Tax is defe
For asset protection purposes, limited liability companies can be used to shelter property owners from personal liability. LLCs allow you to reap the full benefits of property depreciation and other tax benefits on your personal tax return. Placing a property into an LLC helps to shield yourself fro
A W-2 is a tax information statement filed by your employer with the IRS at the end of each year. The W-2 reports to the IRS a summary of your tax information for the year.
Congratulations! You're starting a business in Colorado. This is an exciting time. In order to legally start a business, you need a Colorado sales tax ID number. This is easy to get from the Department of Revenue. With a trade name and a few forms, it's easy to get your sales tax ID. Then you'll b
Filing late tax returns can lead to additional penalties. The Internal Revenue Service (IRS) does not normally send people to jail for late returns but strongly recommends to voluntarily correct any delays in filing. If there is any chance your tax return may be late, you should file for an extensi
The CITB (Construction Industry Training Board) was created by the South Australian Construction Industry Training Fund Act of 1993 to help provide construction training programs across South Australia. The CITB collects a levy on all new construction in South Australia to support these training pro
Business owners must show yearly profit or loss by completing a Schedule C.TAX TIME image by brelsbil from Fotolia.comSchedule C is the form used by the Internal Revenue Service for taxpayers to report profit or loss from a business they own. Not only does a Schedule C tell the government...
Deductible items are expenses that can be listed on an itemized tax return. All expenses that fall within this broad category can be deducted from income made throughout the tax year before tax rates are applied, thus lowering the amount of taxes that taxpayers owe to the state and federal governmen
The U.S. tax code is not known for its simplicity. Among the more complicated aspects of the tax laws is reporting income sources and determining whether they are taxable. Form 1099-C is a form many individuals are not used to receiving since it notifies a debtor of the forgiveness of debt.
It doesn't seem fair that a bequest should be taxable, but sometimes it is. Eight states impose taxes on inheritances at the time of publication: Tennessee, Pennsylvania, New Jersey, Nebraska, Maryland, Kentucky, Iowa and Indiana. If you live in any of these states, you might not receive all your in
The Internal Revenue Service (IRS) does not allow you to directly deduct hobby expenses because that would make everything from vacations to collecting stamps a tax deduction, but there is a way to deduct some hobby costs. However, you have to monetize your hobby in some manner. You may be able to t
Follow the rules and regulations for selling your food items over the Internet.canned tomatoes image by Cinderella Morff from Fotolia.comIf Grandma's chutney recipe or your own homemade salsa could become the next hot Internet food item, then you'll need to follow the rules and...
The IRS outlines several tax credits to offset the costs of raising children. All of these credits apply to qualifying grandchildren living with grandparents. Grandparents may claim grandchildren as dependents as well as receiving tax credits for each child living in the home. Other credits for depe
Daycare providers need to be aware of the federal income tax information that pertains to their profession. They must ensure that their tax preparers are aware of this information too. The Internal Revenue Service allows daycare providers certain allowances, exemptions, provisions for depreciation,