Taxable Income Archives - Page 12 of 19 - FREE Yourself from IRS Problems

Shamsey Oloko March 25, 2016 Business Expenses, Capital Gains, Capital Losses, Deductions, Form 1040, Gains & Losses, Taxable Income 0

Tax on Capital Gains and Losses, Explained

A capital gain occurs when you transfer or sell a piece of property for more than its acquisition cost. To be more succinct, it’s the profit realized on the sale of a non-inventory asset. Capital gains are realized from the sale…

Shamsey Oloko March 17, 2016 Alternative Minimum Tax (AMT), Business Expenses, Capital Gains, Capital Losses, Charitable Contributions, Child and Dependent Care Credit, Child Tax Credit, Deductions, Expenses Deductions, Filing Status, Income Tax, Representation, State & Local Taxes, State Sales Tax, Taxable Income 0

The Alternative Minimum Tax, Explained

Under the Internal Revenue Code and the vast body of rules and regulations related thereto, certain tax benefits can significantly reduce the amount of taxes that a taxpayer may owe. The alternative minimum tax (AMT) applies to those taxpayers with…

Shamsey Oloko March 16, 2016 Bankruptcy, Civil Liabilities, Collection Activities, Income Tax, New York State Tax, New York State Tax Law, Taxable Income 0

Can I Discharge Taxes In Bankruptcy?

The ultimate purpose in filing bankruptcy is to obtain a discharge of most, if not all, of your debts. A bankruptcy discharge releases the debtor from personal liability for certain specified types of debts, i.e., the debtor is no longer…