In this article, we will take a look at the influence the government exerts over our daily lives through our taxation, and the good and bad aspects of that influence. Through direct spending, the U.S. government controls approximately 43-45% of the economy. Today, government spending accounts for almost as much of the economy as spending in the private sector. After…
Tag: Tax
1031 Tax Exchange Frequently Asked Questions
After years of conducting tens of thousands of successful 1031 exchanges, we found that there are a number of frequently asked questions related to this type of transaction… Equity and Gain Is my tax based on my equity or my taxable gain? Tax is calculated upon the taxable gain. Gain and equity are two separate and distinct items. To determine…
Tax Deductions For The Home Business Owner
Tax time can be one of the most anticipated periods of the year. After the holidays have become a memory and before the fun of summer begins, we must devote several hours of our lives to completing this project. This can be especially challenging for the home based business owner. There are several deductions that are available for the work…
How To Hide Assets
In social functions, I always get asked about “How do I hide my assets?” From who are you trying to hide your assets from? Is there a legitimate way to hide your assets? You will know if you have succeeded in hiding your assets if an asset search by an extremely interested party does not reveal your identity. In a…
Save Energy And Money On Taxes At The Same Time
In an effort to help promote alternative energy and energy conservation, the federal government is offering some tax credits to people who buy certain products like insulated windows, energy-efficient heat pumps and hybrid cars. In August of 2005 the federal government passed the Energy Policy Act, and the resulting tax credits went into effect January 1 of 2006. Not only…
Spotting Tax Foreclosure Property In Usa
Tax foreclosures are the business of buying properties for little more than the back taxes owed. When owners do not pay property taxes, the taxing entity has a legal right put a tax lien on the property in the amount of the past due taxes plus any interest and penalties. If taxes remain unpaid, the taxing authority’s tax lien gives…
Finding Assistance With Your Taxes
Organizing your taxes can get quite nerve-racking. This is the main reason why many people would find some assistance in preparing their taxes. When you file your taxes, you can find someone who can do the job for you. Look for a person who is knowledgeable, an experienced expert with tax specialization. There are actually various available types of assistance…
New York Green Building Initiative
As is occurring in many states, New York is trying to promote Green Building practices. The state is doing it by offering tax credits as financial incentives. New York Green Building Initiative The concept of green building isn’t particularly old and has arisen as a result of a better understanding of the impact of buildings on people and the environment.…
Buying Property In Spain Glossary
Buying Property in Spain Although any expatriate intending to buy property in Spain would be advised to use the professional services of an estate agent and a translator and must legalise the transaction before a Public Notary, the following glossary of terms commonly used either to describe properties in Spain or during the transaction process is a useful aid for…
How To Avoid Double Taxation Of Your Small Business Profits
Have you been thinking about incorporating your small business or self-employment activity? The advantages are many! For starters, you’ll be protecting yourself and your family from the possibility of a business ending lawsuit. Forming a corporation is Step One on the path known as “Asset Protection” — you are moving from the world of unlimited liability to the world of…