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Income Taxes for the Self-Employed

You are considered to be self-employed if you engage in a trade or business as a sole-proprietor or an independent contractor.  Some examples would be…

Understanding the Alternative Minimum Tax (AMT)

The Alternative Minimum Tax (AMT) was originally established to target the wealthiest of taxpayers and was called the 'Millionaire's Tax.'  Established in 1969 (as the…

2010 Individual Income Tax Rates

Every year, the federal individual income tax rates adjust. While the adjustments are sometimes subtle, it is important that you understand any rate changes and…

The History of Income Taxes

In the early years of the United States of America, there were very few taxes. Up until 1802, the nation was mainly supported by taxes…

Tax Deductions for Automobiles

Many people look at their car and see something that sucks up a lot of money. While it is true that cars can be expensive,…

Tax deductions for charitable contributions

In general, cash and property donations to qualified charitable organizations are deductible on your individual income tax return. You may also carry forward excess tax…

Tax Deductions for Work-Related Educational Expenses

It is well-known that education costs money and tuition is expensive. These days, more and more people are going back to school to improve their…

Tax Deductions For Education

Lower Your Taxable Income With These Deductions Did you know that there are tax deductions for education? In other words, you could save money on…