Small Business to be Hit Hard by New SECA Rules

remote host "taxdollars.freedomblogging.com" not allowed Warning: file_exists(): open_basedir restriction in effect. File(/var/www/vhosts/fredrickjames.com/httpdocs/blog/index.php/http://taxdollars.freedomblogging.com/files/2010/03/Tax-Shakedown.jpg) is not within the allowed path(s): (/var/www/vhosts/:/tmp:/web:/do_not_remove/php_include) in /var/www/vhosts/fredrickjames.com/httpdocs/blog/wp-content/themes/antisnews/cropper.php on line 727 Warning: mime_content_type(/http://taxdollars.freedomblogging.com/files/2010/03/Tax-Shakedown.jpg): failed to open stream: No such file or directory in /var/www/vhosts/fredrickjames.com/httpdocs/blog/wp-content/themes/antisnews/cropper.php on line 401 Warning: finfo_file(/http://taxdollars.freedomblogging.com/files/2010/03/Tax-Shakedown.jpg): failed to open stream: No such file or directory in /var/www/vhosts/fredrickjames.com/httpdocs/blog/wp-content/themes/antisnews/cropper.php on line 409

To avoid paying the 15.3% tax, S Corporations have for years taken advantage of paying cash to shareholders as distributions instead of wages—not exactly what the IRS had in mind. Don’t forget that S Corps also avoid corporate level income taxation too because that [Read More]

Health Care Reform & How It Will Affect You

remote host "upload.wikimedia.org" not allowed Warning: file_exists(): open_basedir restriction in effect. File(/var/www/vhosts/fredrickjames.com/httpdocs/blog/index.php/http://upload.wikimedia.org/wikipedia/commons/2/2e/Obama_signing_health_care-20100323.jpg) is not within the allowed path(s): (/var/www/vhosts/:/tmp:/web:/do_not_remove/php_include) in /var/www/vhosts/fredrickjames.com/httpdocs/blog/wp-content/themes/antisnews/cropper.php on line 727 Warning: mime_content_type(/http://upload.wikimedia.org/wikipedia/commons/2/2e/Obama_signing_health_care-20100323.jpg): failed to open stream: No such file or directory in /var/www/vhosts/fredrickjames.com/httpdocs/blog/wp-content/themes/antisnews/cropper.php on line 401 Warning: finfo_file(/http://upload.wikimedia.org/wikipedia/commons/2/2e/Obama_signing_health_care-20100323.jpg): failed to open stream: No such file or directory in /var/www/vhosts/fredrickjames.com/httpdocs/blog/wp-content/themes/antisnews/cropper.php on line 409

Whether you love it, hate it or are ambivalent towards it, the Patient Protection and Affordable Care Act was signed into law on March 23 will be affecting your life in some way over the next 4 years. As a rule, bills are generally quite convoluted and hard to understand; [Read More]

Bad Debts Gone Wild: Part III, Business Debt

remote host "pix.motivatedphotos.com" not allowed Warning: file_exists(): open_basedir restriction in effect. File(/var/www/vhosts/fredrickjames.com/httpdocs/blog/index.php/http://pix.motivatedphotos.com/2009/3/18/633729535867126860-FAILURE.jpg) is not within the allowed path(s): (/var/www/vhosts/:/tmp:/web:/do_not_remove/php_include) in /var/www/vhosts/fredrickjames.com/httpdocs/blog/wp-content/themes/antisnews/cropper.php on line 727 Warning: mime_content_type(/http://pix.motivatedphotos.com/2009/3/18/633729535867126860-FAILURE.jpg): failed to open stream: No such file or directory in /var/www/vhosts/fredrickjames.com/httpdocs/blog/wp-content/themes/antisnews/cropper.php on line 401 Warning: finfo_file(/http://pix.motivatedphotos.com/2009/3/18/633729535867126860-FAILURE.jpg): failed to open stream: No such file or directory in /var/www/vhosts/fredrickjames.com/httpdocs/blog/wp-content/themes/antisnews/cropper.php on line 409

In the last part of this series, we covered the consumer side of bad debt charge-offs and how the IRS handles that from a tax perspective. Today I want to delve into the business side of bad debt charge-offs. This side of things is usually quite complex and hard to [Read More]

Federal Tax Incentives for Continuing Education (Part 4 of 4): Student Loan Interest Deduction

So far we’ve discussed the American Opportunity Tax Credit (modified Hope Credit), the Lifetime Learning Credit and even Tuition & Fee Deductions. Today though, we’re going to cover the last in our 4 part series on education tax incentives—Student Loan Interest [Read More]

Federal Tax Incentives for Continuing Education (Part 3 of 4): Tuition and Fees Deduction

While we’ve been talking about the Lifetime Learning Credit and the American Opportunity Credit (Hope Credit, modified for 2009-10), I would be remiss to leave out other options for taxpayers who may not qualify for either credit. If you don’t qualify for anything else, [Read More]

Federal Tax Incentives for Continuing Education (Part 2 of 4): Lifetime Learning Credit

Last week we discussed the benefits of the American Opportunity Tax Credit (or modified Hope Credit, this week we are going to take a look at the Lifetime Learning Credit. This federal tax credit will probably apply to a larger number of individuals as it is much more [Read More]

Making Work Pay Tax Credit

Yes, we are back, rested and ready to hit the road running after a little break over the Holiday season! To start off the new 2010 tax year, I wanted to cover a topic that will affect most taxpayers in a positive way , the “Making Work Pay Tax Credit”. This tax credit [Read More]

Tax Problems & Offers in Compromise: As Seen On TV

remote host "z.hubpages.com" not allowed Warning: file_exists(): open_basedir restriction in effect. File(/var/www/vhosts/fredrickjames.com/httpdocs/blog/index.php/http://z.hubpages.com/u/1974931_f260.jpg) is not within the allowed path(s): (/var/www/vhosts/:/tmp:/web:/do_not_remove/php_include) in /var/www/vhosts/fredrickjames.com/httpdocs/blog/wp-content/themes/antisnews/cropper.php on line 727 Warning: mime_content_type(/http://z.hubpages.com/u/1974931_f260.jpg): failed to open stream: No such file or directory in /var/www/vhosts/fredrickjames.com/httpdocs/blog/wp-content/themes/antisnews/cropper.php on line 401 Warning: finfo_file(/http://z.hubpages.com/u/1974931_f260.jpg): failed to open stream: No such file or directory in /var/www/vhosts/fredrickjames.com/httpdocs/blog/wp-content/themes/antisnews/cropper.php on line 409

In the past year I have seen a lot of tax companies running commercials on TV claiming that they can dramatically reduce, or even eliminate, taxes owed to the IRS. They depict someone in a desperate situation who has just had their last $40 taken from their account by the [Read More]

Unemployment Benefits: No Free Bailout For You

remote host "i209.photobucket.com" not allowed Warning: file_exists(): open_basedir restriction in effect. File(/var/www/vhosts/fredrickjames.com/httpdocs/blog/index.php/http://i209.photobucket.com/albums/bb317/dan_walters/humor/Bad_Day_2007_by_marquis2000.jpg) is not within the allowed path(s): (/var/www/vhosts/:/tmp:/web:/do_not_remove/php_include) in /var/www/vhosts/fredrickjames.com/httpdocs/blog/wp-content/themes/antisnews/cropper.php on line 727 Warning: mime_content_type(/http://i209.photobucket.com/albums/bb317/dan_walters/humor/Bad_Day_2007_by_marquis2000.jpg): failed to open stream: No such file or directory in /var/www/vhosts/fredrickjames.com/httpdocs/blog/wp-content/themes/antisnews/cropper.php on line 401 Warning: finfo_file(/http://i209.photobucket.com/albums/bb317/dan_walters/humor/Bad_Day_2007_by_marquis2000.jpg): failed to open stream: No such file or directory in /var/www/vhosts/fredrickjames.com/httpdocs/blog/wp-content/themes/antisnews/cropper.php on line 409

It’s been a tough year for Americans, and the numbers are looking pretty grim as we go into the Holiday Season. Florida’s overall unemployment rates are hovering just over 11% and nationwide they’re around 9.6%. According to The Wall Street Journal, the average length [Read More]

New to Self-Employment Business Orientation: How to Avoid Tax Problems & Pave the Way to Success

Today people have more choices than ever before when it comes to making a living. Even those who keep their regular full time positions as employees are taking on side work as independent contractors and some are choosing to make the leap to full time self employment or [Read More]