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Our Own Homes are the Mother of all Tax Shelters
When it comes to tax shelters, there's no better or safer place than our own homes. There are a vast number of companies out there spending a lot of money on advertising trying to convince us that we should be sending our hard earned dollars to some island in the sun, where (for a nice fat fee of course) they will keep our money safe and out of the hands of the IRS.
Top tax rate may fall
April 19, 2006 THE Federal Government has more than enough money to give all tax payers a tax cut, with the Budget surplus forecast to exceed $14.5 billion, according to Macquarie Bank. In addition, the Government could easily afford to eliminate the top marginal tax rate of 47 per cent or bring it down to 30 per cent, said Richard Gibbs, an economist with the bank.
What about Taxes and Your Second Mortgage?
For the average consumer who has managed to acquire credit card debt, automobile loans, and various other small debts, is the second mortgage loan an answer for the consolidation of debt and a tax reduction? Quite often the answer to this question is yes. Second mortgages that have traditionally been used in areas of home improvement, funding college educations or business startups are now being considered as a means to eliminate or consolidate high-interest credit card debt and create a tax deduction at the same time.
Mortgage Interest and Your Tax Liability
As you begin your search for the perfect home, and you research your mortgage loan options, the tax consequences of a mortgage loan with mortgage interest doesn't ever cross the minds of most consumers. But as you decide which product you need, or think you need, the tax repercussions and benefits should play a role, even if it's a small one, in the final decision.
2006 List of Tax Scams Released by IRS
Every year, the IRS issues a list of tax scams. The goal is to alert taxpayers to the lack of merit of certain strategies as well as letting everyone know the IRS will not accept them.
Use Tax Credits To Help Finance Your College Education
Students are always on the lookout for ways to help pay or offset the cost of their tuition. There are various government grants and scholarships available to you if you qualify. But what if you don't qualify for these government programs? Don't loose hope there are still options available to you that can help offset those tuition bills.
5 Common Tax Myths That Are Costing You A Bundle
You are a small business owner or self-employed person (including home-based businesses and part-time entrepreneurial activities). |
