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Take advantage of tax deductions for business travel and entertainment

When entertaining clients or traveling on business, you may be eligible for Federal income tax deductions on a portion of your expenses that are not…

What Is A Tax Credit?

Understanding Tax Credits & How They Lower Your Tax Liability Many people are under the impression that tax credits and tax deductions are the same thing. While they are…

How to estimate where you stand on income tax withholding

You do not want to use the IRS like a bank account. Believe me, the money withheld from your paycheck would be better spent elsewhere…

Why is my SECA Tax more than my friend’s FICA Tax?

What is SECA, why I pay more for Social Security, and how is that even fair   You may have noticed the remarkably high self-employment…

How does the Federal Insurance Contributions Act (FICA) affect my taxes?

Calculate your FICA bill and understand what you are paying for You may have noticed a bigger bite out of your paycheck since January, 2013.…

Who does the IRS trust, and are you on the list?

Using IRS data on tax filings and audits in 2012, I look at what types of businesses, tax forms, and income levels are at the…

Small business structures for couples

What are the differences, and which is better for your small business?   Elsa and Bill are recently married and considering whether to ‘marry’ their…

How to obtain a copy of past tax returns in all 50 states

If you are attempting to get a copy of your Federal Tax Return from the IRS, watch this how-to video on how to get copy…