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Seven Tax Advantages to Hiring Your Spouse in Your Business! Jun 25, 2008 - 4:11 PM - by TaxGuru Seven Tax Advantages to Hiring Your Spouse
There are 7 tax advantages to hiring your spouse and putting him or her on the business payroll, apart from some of the obvious non-tax related reasons for hiring your spouse. These are listed below as follows;
1.To Qualify for Social Security Benefits
This is pretty obvious in that if your spouse is employed, clearly collecting a salary from your business will increase the spouse’s future social... [Read More] What are the Tax Policies for each Presidential Candidate?-Latest Update Jun 12, 2008 - 10:29 AM - by TaxGuru TAX POLICIES FOR BOTH PRESIDENTIAL CANDIDATES. 1. Senator Barrack Obama-Democratic Presidential CandidateThe following are the current tax proposals that are associated with this candidate: 1. With Respect to Tax Cutsa.Refundable Making Work Pay tax credit of 6.2 percent of earnings up to a maximum of $8,100. b. Refundable Universal Mortgage Credit of 10 percent of mortgage interest... [Read More] What are the top ten factors that trigger the AMT tax? May 28, 2008 - 5:40 PM - by TaxGuru The alternative minimum tax (or AMT tax) is an additional tax that taxpayers have to pay in addition to the regular income tax. The purpose of the AMT tax was to prevent taxpayers with very high incomes from using the available tax loopholes and certain tax credits to either pay no or very little income taxes. Actually the IRS best described the purpose of the AMT tax as an attempt “to ensure that anyone who benefits from these tax advantages pays at least a minimum amount of tax.” Hence,... [Read More] IRS tax rebate stimulus payment schedule May 09, 2008 - 5:09 PM - by Samatg Economic stimulus payments will be issued according to the last two-digits of the main filer's Social Security number. For joint filers, the payments will go out based on the person listed first on the return. Payments will be made by either direct deposit or paper check, consistent with how people filed their 2007 tax return. People who use direct deposit also will be among the first to receive the payments starting April 28. Direct deposits will be made daily and completed by... [Read More] How Much Rebate will taxpayers get in 2008? Feb 19, 2008 - 12:39 PM - by TaxGuru The IRS has stated that "the eligibility for and amount of stimulus payments to taxpayers will vary according to their income and family situations."
The payments will range from $300 to $600 for individuals and $600 to $1200 for joint filers. Taxpayers may receive $300 for each qualifying child. But, payments could be less, depending on tax liability and Adjusted Gross Income.
Unfortunately for some, a phaseout reduction begins at $75,000 for single... [Read More] » Recent Tax Q&A Title, Username, & Date Forum  "Exporting" business expenses to USA jsilo Sole-Proprietorship Question about IRS penalty accessment gigic Income Should Congress increase the annual limits of Capital... gimini Investment Strategy C Corp and home office dilema brndwgnr C-Corporation How to legally shift money in Corporations C brndwgnr C-Corporation can an LLC own C Corp Stock to prevent being labeled at... brndwgnr C-Corporation  Can I lease my personal equipment to my C Corp? brndwgnr C-Corporation Does C Corp Itemize Deductions brndwgnr C-Corporation C Corporation loans to officer for business purpose brndwgnr C-Corporation  C-Corp, What are the best ways to shift income to lower... brndwgnr C-Corporation Contact Us -
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