The taxes that are withheld from paychecks amount to about 25% of your gross pay (including federal tax, state tax, social security tax and medicare tax). But these taxes that are withheld could be working for you as investments if you employ what I call the ultimate tax strategy. This tax strategy consists of how [...]

Employee taxes can be one of the most difficult to understand areas of running a business and hiring employees. If you don’t understand all of the complexities involving employee payroll tax, it can also get you into a heap of trouble.
The first employee tax factor you should understand is what taxes you are responsible for [...]

Few people would expect a book about taxes to take The New York Times bestseller list by storm, but that’s exactly what The Fair Tax Book has done. For decades, Americans from every point on the political spectrum have moaned about April 15th and the maze of ridiculous instructions and high confiscatory taxation that accompanies [...]

The Internal Revenue Service has released the new inflation and cost-of-living adjustments for tax year 2006. Here are some of what is new for 2006:
* The personal exemption amount is $3,300.00.
* The deduction for personal exemptions is phased-out as your Adjusted Gross Income (AGI) goes from-
+ $150,500 to $273,100 if Single
+ $188,150 to $310,650 if [...]

April 15th looms in front of most people every year like a big, full moon full influencing a tax based frenzy, but knowing where to find tax breaks for your home based business can make that frenzy a little less frantic and more beneficial to you and your home based business. Finding tax breaks for [...]

Tilting the Tax Laws in Your Favor.
In order to accelerate your movement along the wealth building curve, you absolutely MUST have your own business. I don’t care if its real estate investing, a sales company or a service business. But you must own it yourself or with a partner. Why, because the tax laws are [...]

As a small business owner, it’s wise to familiarize yourself with some key deductions that may reduce your tax bill for 2004.
Employee Benefit Plans - You may deduct contributions to employee benefit plans (such as health insurance plans and retirement plans). Depending on your circumstances the maximum contribution that you may deduct per employee in [...]

If you have employees, you are responsible for paying a variety of taxes at the federal, state, and local levels. You must also withhold certain taxes from the paychecks of your employees. So, what are employment taxes?
Employment taxes include the following.
1. Federal income tax withholding
2. Social Security and Medicare taxes
3. Federal unemployment tax (FUTA).
Federal Income [...]

So who exactly is subject to the IRS self employment tax? Sole proprietors, partners in a small business and independent contractors are the most common examples of people subject to the self employment tax. But just because you make a couple of dollars selling some stuff on an auction website doesn’t mean you’ll have to [...]

Over the next year or two it is very likely that tax rates on income, capital gains, and dividends are likely to go up. That is an unfortunate but likely reality especially for those people whom the politicians consider “rich” like most of the people who receive this newsletter. Rising tax rates are a virtual [...]