5 Questions for Your Mid-Year Tax Planning
by Tmwheelwright.When I coach clients on their tax strategy to legally reduce their taxes, many of the strategies require monitoring throughout the year. The monitoring serves two primary purposes:#1 To Monitor the NumbersMany tax strategies are based on income and ...
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Property Taxes
by Heather Seitz.Many homeowners have been taken by surprise when the value of their home suddenly seemed to hit freefall. However, it would certainly seem as though there should be one advantage to dropping home prices. Many homeowners assumed that when the value o...
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Mid-Year Tax Planning: Do You Need to Add an Entity?
by Tmwheelwright.Do you need to add an entity to your tax structure?This is such an important question for mid-year planning because knowing the right time to add an entity to your tax strategy can often save as much as $10,000 per year in taxes!What entity should yo...
Charleston SC Property Taxes
by Lee Keadle.The general Charleston area is made up of three counties:? Charleston County, Berkeley County, and Dorchester County.? These three counties vary in tax prices.? If you were to compare two houses that were identical in price – one in Charleston Coun...
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Rising Property Taxes
by Heather Seitz.Many homeowners have been taken by surprise when the value of their home suddenly seemed to hit freefall. However, it would certainly seem as though there should be one advantage to dropping home prices. Many homeowners assumed that when the value o...
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S Corporation Tax Explained
by Nick Braun.Many businesses start life as an s-corp and when profitable become c corps to benefit from income splitting and fringe benefits. Alternatively they form an LLC which is simpler to form and operate but offers the same personal liability protection.S c...
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Tax Rules for Home Sellers
by Nick Braun.In 1997 new tax rules for home sellers were introduced contained in section 121 of the tax code. The new tax changes were:1.?If you are not married, when you sell your home the first $250,000 of your profits are tax free. 2.?If an unmarried couple jo...
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Who really pays the Income Taxes?
by Patrick Peterhans.With all the talkof the rich are not paying their fair share of taxes and the tax cuts earlierthis decade only went to the rich, here are some facts to contemplate and youas the reader can make up your own opinion.The statement above could be tru...
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Capital Gains Tax Changes
by Nick Braun.Our new Darling Chancellor’s first Pre-Budget Report, delivered on 9th October 2007, caused quite a stir in the UK property taxation world.The biggest news was undoubtedly the shock announcement of a new single flat rate of Capital Gains Tax. The n...
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Are You In Need Of Tax Relief?
by Matt D Murren.For those who are getting swamped with concern over their tax situation – there’s hope.? Tax relief is available to many who are dealing with the burden of figuring out how to catch up on their back taxes.? It’s certain that a great...
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Tax Tips for Family
by Donna Bordeaux.1.? "I cannot afford to earn any more money this year because I will jump into the next tax bracket." or "Boy, I would not want to win the lottery.? It would cost me too much in taxes."Tax Brackets:? In the US, our tax brackets are marginal.? ?Only t...
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