Tag Archives: taxes
Charitable donations
Thursday, May 6, 2010 // 0 Comments // Tax Law
Making charitable donations is a legitimate way to reduce your taxable income, and as a result reduce the overall taxes you’d have to pay.
Read more & Talk about itTax credit
Thursday, May 6, 2010 // 0 Comments // Tax Law
A tax credit is different than a tax deduction, which reduces taxable income. A credit, though, reduces your tax liability dollar-for-dollar. For example, if there were a tax credit of $1000 for using environmentally friendly construction materials, you would owe $1000 less in taxes that year.
Read more & Talk about itFinancing arrangements
Thursday, May 6, 2010 // 0 Comments // Tax Law
Related individuals often use complicated arrangements involving capital gains taxes to their advantage. Capital gains incur fewer taxes than other investment income, so one person might decide to pay inflated interest rates to a related person in order to reduce the overall taxable value of the investment. Then, when withdrawing the investment, a huge capital [...]
Read more & Talk about itTaxes and Marriage
Thursday, May 6, 2010 // 0 Comments // Tax Law
When it’s time to tie the knot, tax issues are likely the last issue on the happy couple’s mind. However, it’s worthwhile to sit down after the honeymoon and consider the issues below. Taking a little time to update information as a new couple will ensure your tax filing goes smoothly. Some things to consider [...]
Read more & Talk about itWhat is the Alternative Minimum Tax?
Thursday, May 6, 2010 // 0 Comments // FAQs
Originally, the Alternative Minimum Tax, also known as the AMT, was designed to close loopholes that allowed high-income taxpayers to pay little or no tax. The AMT required taxpayers to pay a minimum amount of tax and calculated income by an alternative set of rules. In theory, this sounds like a smart idea, but in [...]
Read more & Talk about itBack Taxes Owed
Thursday, May 6, 2010 // 0 Comments // Tax Services
Let the highly trained tax professionals of Four Brothers Financial, LLC. assist in resolving your back taxes. With years of experience in settling tax liabilities, we’ll guide you through the process seamlessly. We’ll help you: » Gather information and paperwork. » Prepare and file back returns. » Reduce, if possible, the amount owed. » Resolve [...]
Read more & Talk about itTax Strategies for Individuals
Friday, January 1, 2010 // 1 Comment // Financial Guides
With proper planning, individuals can utilize strategies to reduce their tax bills. The CPAs of Four Brothers Financial, LLC. are experts at identifying and implementing these strategies for you. Our goal is to help you save money. Tax strategies include: Recordkeeping: We’ll help you develop accurate and efficient recordkeeping. Maximizing Deductions: With full knowledge of [...]
Read more & Talk about itNonfilers
Friday, January 1, 2010 // 0 Comments // Tax Law
Despite the complete constitutionality of taxes, some individuals continue to argue that taxes are illegal. If these individuals fail to file a return, it’s considered tax fraud. Frivolous arguments against taxes do not hold up in court, and nonfilers are not exempt from the law.
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