You Can Deduct Up To 55.5 Cents a Mile in 2012

You Can Deduct Up To 55.5 Cents a Mile in 2012

Now you can deduct up to 55.5 cents a mile for business driving expense.   You can use this rate for all kind of vehicles including cars, vans, pick up and…

Fraudulent Tax Surge to 181%

Fraudulent Tax Surge to 181%

The IRS has been tricked of $1.9 Billion tax refunds on 335,341 tax return claims. Recorded as of March 4, 2011 in an audit supervised by the Treasury Inspector General…

Thing You Want To Know About Education Loan Deduction ?

Thing You Want To Know About Education Loan Deduction ?

Educational loans have become quite popular these days. Students who cannot fund their education independently are facilitated by such loans. This article deals with education loan deduction or the grants…

Education Tax Credit – and Life Time credit

Education Tax Credit – and Life Time credit

The internal Revenue Service has designed certain tax-break plans for students who take educational loan. The two most popular credit facilities offered by theUSgovernment was American Opportunity Credit, which straight…

How to avoid Late filing penalty for partnerships?

How to avoid Late filing penalty for partnerships?

Do you hold a Limited Liability Partnership (LLP) with a corporation? Have you received late filing penalty mails? Confused what to do? Heres a few tips explaining exactly how you…

Understanding The Basics of C-Corp and S-Corp

Understanding The Basics of C-Corp and S-Corp

A corporation (business organization) is treated as a sovereign entity. Internal Revenue Coding and Taxation Policy declare that all benefits of a C-Corporation will be taxable separately from that of…

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