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Tax Information
More Articles from Tax Information: PAYS program returns, helping Detroiters avoid tax foreclosure Detroit Free Press Many Questions, but Few Answers, at Hearing About N.Y.C. Second-Home Tax The New York Times Colorado voters will decide whether to cap income tax rate, put “right to hunt and fish” in state constitution The Colorado Sun Opinion | Five California propositions ask the same question: Who should pay billions in taxes? CalMatters Tarrant County Backs Governor Abbott’s Proposal To Deliver Lasting Property Tax Relief For Texans Office of the Texas Governor (.gov) The Trump Administration Slashed Taxes for H&R Block and Raised Costs for Tax Filers Institute on Taxation and Economic Policy Athens-Clarke County 2026 Property Tax Bills Due October 20 Athens-Clarke County Free Market Friday: Lower taxes, higher revenue The Journal Record Detroit homeowners with delinquent property taxes to get more help from renewed program Michigan Public After 4 spinal surgeries, Detroit man’s home saved through property tax relief program ClickOnDetroit | WDIV Local 4 Should Yale pay more in taxes? Connecticut governor candidate takes aim at $44 billion endowment CT Insider Arizona voters could slam the brakes on mileage taxes Land Line Media Sheridan resident upset about home sold for taxes - Post Journal Bobby Charles starts general election campaign, pitching lower taxes and change newscentermaine.com Louisiana’s college sports programs are losing money. Can sales taxes save them? Louisiana Illuminator Tax Bills Slightly Delayed Onslow County Government (.gov) As states move to cut property taxes, cities brace for fallout Smart Cities Dive County Assessor and Tax Collector warn of false ‘1098-SR’ property tax claims targeting seniors Sonoma County (.gov) Idaho needs a 10-year plan to restore its decimated tax revenue as soon as possible Idaho Capital Sun As the San Antonio River Authority plans 2027 budget, a tax rate hike is likely for second year in a row San Antonio Report Tarrant water district proposes rate bump, tax increase to address demand, aging pipes Fort Worth Report Bastrop County data center developer drops tax break requests, says it will pay full property taxes KVUE Abbott Says Tarrant County Shows Local Governments Can Cut Taxes Texas Scorecard Why high-net-worth investors are rethinking retirement taxes The Business Journals New York Towns Facing Budget Shortfalls Look to Property Taxes news.bloombergtax.com 'Trojan horse': Opposition mounts, warnings about impacts increase from property tax amendment critics Florida Politics NC Chamber says franchise tax harms startups Business North Carolina Gov. Abbott praises Tarrant for lowering property taxes, proposes new tax plan Fort Worth Star-Telegram Carson reaches $370-million settlement with Marathon Petroleum, resolving tax dispute Los Angeles Times After hours of tense debate, divided El Paso City Council adopts budget, raises taxes El Paso Matters Court rebuffs attempt to ax ballot statement on WA income tax measure’s budget effects Washington State Standard How Your Property Taxes Fund City Services City of Clearwater Comptroller: tax cap overrides increasing - Post Journal Conservative group launches ad campaign highlighting Rep. Miller-Meeks, Nunn work on tax cuts Iowa Capital Dispatch A taxing week: Expect no pillar two favours from a Democratic administration International Tax Review Cook County Board of Review urges residents to start appeals for 2026 tax bills after recent storm damage WBEZ Chicago Allen County Council frustrated that lower levy wouldn't affect property tax bills The Journal Gazette Norquist and Kudlow: Help the Middle Class by Ending the Inflation Tax on Capital Gains Americans for Tax Reform Winter Haven developer seeks tax incentives to expand Bowen Yard Lakeland Ledger The US and UK Are Aggressively Pursuing Tax Whistleblower Cases news.bloombergtax.com Fulshear proposes tax rate ahead of Sept. 1 public hearing Community Impact The BR State + Local Tax Spotlight: August 2026 Blank Rome LLP Marquette Law Students Win International Tax Competition Marquette Law School Small group with big power: Minneapolis Board of Estimate & Taxation to set max property tax hike soon 5 EYEWITNESS NEWS 'Can I just chill?' Money issues worry residents after Granite School District votes to raise property taxes FOX 13 News Utah Clay County OKs First Reading Of Sales Tax Ordinance plaintalk.net ‘Taylor Swift Tax’ Draws Suit From Rhode Island Homeowners (1) news.bloombergtax.com Pekin says no to increased taxes, park district tightens belt WEEK | 25 News Now Lead January sales tax windfall result of audit, back taxes paid Black Hills Pioneer Garfield County Libraries tax extension headed to November ballot Post Independent Massive tax break for Sabey data center requires investment in aquatic center, roads, utility upgrades Indianapolis Business Journal Billionaire tax or not, California still dominates venture funding Los Angeles Times Monument voters will decide use tax increase Colorado Springs Gazette Home prices, construction sales tax revenue up in Laramie County in 2025, according to state data Cap City News OpenAI Land Sale Could Bring $38.6M in Effingham Tax Relief Effingham Herald Property tax increase KXLY.com Japan’s fiscal stance is tightening, not expanding as tax growth outpaces spending: Economist - CNBC |
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Either: How Home-Based Businesses Can Avoid Giving Uncle Sam More than His Share How Home-Based Businesses Can Avoid Giving Uncle Sam More than His Share By Darren Oliver With the rush to file your taxes by April 15th, you probably did not consider the possibility that you overpaid. According to the General Accounting Office, in 1998 alone, there was $311 million paid unnecessarily to the IRS. Do not count on the IRS to tell you if you have overpaid because they are not required to but you can file an amended return for up to three years. Chances are, you either prepare your business taxes yourself or have your tax preparer or CPA does them. There a number of issues surrounding either tax preparation method, which can result in your tax liability being calculated as higher than it actually is including missed deductions, numerous changes in tax laws or being given incorrect advice. As a home-based business professional, there are a number of deductions you are entitled to which many tax preparers often miss. For example, if you run a home office you are entitled to deduct expenses for the percentage of square footage the home office is occupying. Expenses include the combined total of mortgage interest, property taxes, utilities, repairs, etc. For example, if 250 square feet of a 1,000 square foot house is being used for a home office, you are entitled to deduct a quarter of your total expenses. Although some deductions may seem minor, over an entire year, they can add up to thousands of dollars that you are unnecessarily paying the IRS. That is money that you could be using to grow your business. Karen McClafflin, owner of home-based Secret Canyon Realty in Colorado Springs, CO, was able to recover $11,000 when her tax preparer failed to include home office and automobile deductions in her past returns. Another area, which causes many business owners to overpay, is being given incorrect advice by their CPA, tax preparer or even the IRS directly. In a poll performed by Money Magazine, the average tax preparer, prepares an average of 480 returns between February 1st and April 15th, that is a lot of returns in a relatively short amount of time which makes it difficult for your return to get the time and attention it deserves. This same poll also found there was an average discrepancy of 300% between what the tax preparers said was due and what was actually due. Moreover, in a poll of 50 professional tax preparers, consisting of 10 basic tax questions, none answered all 10 questions correctly and only 34 got at least half correct. This problem does not extend to just tax preparers or CPA's. In the IRS's 2001 assessment of their own 544 call centers, they found that 50% of the time, their representatives gave incorrect or insufficient advice. Whether you do your taxes yourself and had to call the IRS for clarification on an issue or your CPA did, odds are the answer was not accurate. The United States tax law is one of the most complex in the world. Not to mention, tax laws change every year and have changed tremendously in the last couple of years. Even the best tax preparer, CPA or even IRS representative can easily make a mistake or, forget to use an exemption which could reduce your tax liability. If you have not yet filed your taxes, it is a good idea to get a second opinion from an independent source. The extra money and time spent in doing this could save you thousands. Look for someone or a company who: � Has sufficient years preparing home-based business tax returns � Prepares less than the average number of returns between January and April so that your return gets sufficient time and attention. � Have had clients get a second opinion. 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If you can't imagine getting your tax returns together by that date, you need not worry. The IRS automatically gives you an extension if your file the appropriate form. As you might expect, there are different forms for different businesses. Tax Strategy - Let Washington Pay for Your Corvette, Porsche, or Air Plane Deducting Your Auto Expenses
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