Earned Income Tax Credit (EITC) Information

How to Pay Zero Taxes by Jeff A. Schnepper

Fully updated to include all the latest tax law changes, How to Pay Zero Taxes outlines the easiest, most practical strategies you can use to lower your taxes this year, next year, and beyond. From converting personal expenses into business expenses to avoiding or surviving an IRS audit, Jeff Schnepper's guide comprehensively covers more deductions than any other tax book, all conveniently organized in six fast-access categories: exclusions, credits, “above-the-line” deductions, “below-the-line” deductions, traditional tax shelters, and supertax shelters.

Jeff A. Schnepper is the author of several books on finance and taxation, including How to Pay Zero Estate Taxes and all twenty-four previous editions of How to Pay Zero Taxes. He is a financial, tax, and legal advisor to the Transamerica sales force and runs a full-time accounting and legal practice in Cherry Hill, New Jersey. Mr. Schnepper is Microsoft's MSN MONEY tax expert, an economics editor for USA Today and is tax counsel for Haran, Watson & Company.

     

Earned Income Tax Credit (EITC) Information - Basic Tax Terms

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Earned Income Tax Credit (EITC) Information * Basic Tax Terms

Understanding Basic Tax Terms   
Ryan Fyfe

If your like many, you don't always understand what people are talking about when it comes to Taxes.

It's important to know the main tax terminology, especially when tax season comes around. Knowing the basics will make tax season less of a hassle for you, and maybe even save you some money. There are hundreds of terms; Below are some of the most important:

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Let Bush Tax Cuts End, Economists Say (Fox News)
NABE economist said Congress should let the Bush tax cuts expire.

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Tax Form

A Tax Form is the form that is filled out and submitted to your government to report all of your tax information for the past year.

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NARUC Asks For Clarification On Broadband Grant Tax Status (Broadcasting And Cable)
Association says money should be tax...
Tax Tips For The Unemployed (CNN Money)
Tax time can be a painful time for many of us, and it's especially tough for people without jobs. If you're unemployed, there are a few twists and turns in the tax code that can work to your benefit.

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Audit

An audit refers to an unbiased examination and evaluation of the financial statements of an individual or organization such as a business. Audit's are performed for the purpose of ensuring that accounting records are fair and consistent, and are following the guidelines laid out for the individual or organization.

Capital Gain
Capital Gain refers to the amount of money made on Capital during a given tax period. For example if you own a house, and over the past year the value of your house increased by twenty thousand dollars, you would have to claim this twenty thousand dollars as a capital gain in your income taxes.

Capital Loss

Capital Gain refers to the amount of money Lost on Capital during a given tax period. For example if you own a house, and over the past year the value of your house decreased by twenty thousand dollars, you would have to claim this twenty thousand dollars as a capital loss in your income taxes.

Child Tax Credit

Child tax credits are tax credits that are given to the caregivers for each dependent child, that at the end of the tax year is under 17.

Flat Tax
Flat tax refers to a system where everyone is taxed at the same rate, regardless of how much they earn.

Gross Income
Gross income is an individuals or corporations total income before any taxes or deductions have been applied to the sum.

Net Income
Net Income is the total amount of income after all deductions and expenses.

Property Tax
Property tax is a tax that is assessed on real estate value by a local government.

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Feel free to reprint this article as long as you keep the following caption and author biography in tact with all hyperlinks.


Ryan Fyfe is the owner and operator of Taxes Area. Which is a great web directory and information center on Taxes and related issues like Income tax and property tax.

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Being Careful To Choose Legal Tax Shelters by Carl LaFresnaye

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Who are the CPA Moms?      Your Tax Professional Forever!!!!

“CPA Moms - Tax Moms - EA Moms" are trade names given to Accounting and Tax Professionals who chose to work in an “relaxed” environment. Some "Moms" work from home, other work from personal offices. Not all are Moms, there are some Dads. We call them Mr. Tax Moms. CPA Dads or Enrolled Agents Dads.
Each Mom is independent. Once a client starts working with a Mom, the client will keep the same “Mom” year after year regardless of where the client moves or relocates. Being in a “relaxed” environment has many advantages. Lower overhead, faster response time, more availability, etc.
To be a member a CPA Mom, Tax Moms, or an Erolled Moms the Tax Professional must ALWAYS be in good standing with their state licensing agency, experienced, and must demonstrate a high level of ethics, professionalism and proficiency.
Tax Net Inc, the parent company for all CPA Moms, Tax Moms and Enrolled Moms, developed the marketing and on-line systems to help qualified Tax Professionals who "choose" work from their “relaxed” environment and offer better service at a lower price to the consumer.
Since the “Moms” do taxes and accounting of all complexities, there is always a Mom available for every level of work. Since each Mom has a private 800 number, you are just a phone call away, regardless of where you live.
For reliability and dependability of Tax Net, Inc, the parent company of the “Moms” organization click on the Better Business Bureau (BBB) icon.

To Join CPA Moms

Click for accredited member's reliablility report.

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Index of Articles about Taxes

What Other Authors say about Taxes

Being Careful To Choose Legal Tax Shelters by Carl LaFresnaye

There are some types of corporations that try to find loopholes in the tax laws that allow them to get out of paying such high taxes. There are some companies that look for tax shelters, which are ways...

Advice For Using Free Tax Forms by Carl LaFresnaye

There are many different avenues that can be used to obtain free tax forms from the government. There are usually free tax forms that can be found at the local libraries during tax season. There are...

Are Foreclosure Taxable by

The Internal Revenue Service unveiled a special new section for people who have lost their homes due to foreclosure. The IRS also reassured homeowners that, although mortgage workouts and foreclosures...

State Of California Income Tax Forms – Information To Know About Them by Carl LaFresnaye

If you live in the state of California, chances are you have to file your state taxes forms every year. Very few people don't have to file – those who have no income or are too young are among them. If...

Checking The Status Of Your Federal Tax Refund by Carl LaFresnaye

You've completed your taxes and were delighted to discover you will get a tax refund! Regardless of whether it is large or small, you want it – and you want it now! You can start planning how you will...

Knowing The Benefits And Burdens Under Federal Income Tax Principles by Carl LaFresnaye

There are many different benefits and also burdens that individuals can have under federal income tax principals. It is important for individuals to consult some sort of professional advice when doing...