Tax Blog

I worked many different places and want to make sure I have all my correct tax information for 2005 and 2006. If I forget a certain employer I don’t want them to kick it back to me. I’d rather have all the correct information before I file. Also can I file for 2007′s taxes with the information I have now, and then file 2006 and 2005′s later when I have all the information for those years?

I would like to understand the tax benefits of buying a house a bit better and how to do the math.

If I get a 400.000 loan over 30 years at a 5% interest rate, then my monthly payments will be somewhere between $2100 and $2300 (based on online mortgage calculators).

I understand that the interest on the loan is tax deductible part. Can anyone help me figuring out how much money that would save me per year?

After winning the tax lien auction and paying the promised amount + misc fees, what other financial obligation does property Tax lien investors have during the 1 year redemption period if there is an outstanding mortgage on the property?

I am married but separated (not legally). There is part of me that wants to file married filing separate but when I do that, I lose the child tax credit. The thing is – that my husband is not my son’s father & has no rights to him. Is there a way to get around this so that I can keep my tax credit? Is it smarter to just file jointly since I only moved out 1 month ago? Please advise, thanks.

In 2008 I work in a Louisiana (I live in Texas) for 5 weeks. I’m pretty sure that means I have to file a Louisiana tax return. I have never done this before. How do I go about filing a tax return for a state I don’t live in?

I have a friend suffering from cancer. We are having a benefit with a silent auction for her . I would like to be able to give the potential business donors a tax exempt number so their donations would be tax deductible. How do I go about doing this? What kind of fund or paperwork do I have to do?

Say a firm has a net loss of 8803 in one month and 6573 in the second month. In month three, it makes a profit (before income tax) of 20824. There are no dividends and the retained profits at the start of the month are -6573. How do I calculate income tax for that month, assuming we are taking into account the previous net losses?

I know about the child tax credit but heard about an additional child tax credit that I may be elidgible for. What is it and what do I need to qualify? I have one child a 5 month old little boy if that helps.

I believe that Florida is a heaven for the rich and more difficult for the middle and low income population. Add up your sales taxes for the year and you would be suprised of how much of a low income family income goes for that tax. It is nothing for the wealthy. Doing away with the sale tax and imposing an income tax would hit the huge incomes of the wealthy much more then the poor. Lets get rid of the sales tax and get the income tax.

Sales tax is what they add on when you purchase something, I think. What is state tax and what kind of tax do they take out of your paycheck? I’m 19 and finally getting out on my own and need to know everything. HELP! (I live in Oklahoma and am moving to Texas for those that want to know a state)
OOH and federal taxes?