Author Details


Chintamani


Member Since: 13th November 2009
URL: http://www.planningyourtax.com/
Occupation: Tax consultant
No of Articles: 13
About Me: Chintamani Abhyankar, is a well known expert in the field of finance and taxation for last 25 years. He has written many books explaining inside secrets of the magic world of personal finance. His famous Tax eBook “Stop donating your money to IRS” which is now running in its second edition, provides intricate knowledge and valuable tips on personal finance and income tax.

Authors


23rd November 2009

Being generous throughout the year may not hurt at tax time!

If you want to gift someone, do not worry about taxes. There are effective strategies available. Right now, if you are giving a gift, your threshold is $12,000 to any one recipient. That's pretty generous. If you are married, you and your spouse can sp...

23rd November 2009

Will Bankruptcy Solve my IRS Tax Debt Problems?

The answer to that question is - most likely, not. First of all, bankruptcy is a very serious thing and you must not enter into the decision to file bankruptcy lightly. Bankruptcy has long-term negative impacts. There are two types of bankruptcies for y...

23rd November 2009

Lowering the Impact of the Alternative Minimum Tax

Two things strongly factor into the formula for the Alternative Minimum Tax. One is the type of investments you have. Some investments figure more consequentially in the Alternative Minimum Tax. Therefore, the structure of your portfolio is very import...

23rd November 2009

Fundamentals of Rollover IRA

Switching a job is quite regular these days, be it due to a better opportunity in a different company or even because of a job loss. In any case, if there is a change in employment, the rollover IRA plays a vital role as it is a retirement account which g...

23rd November 2009

Taxes and Winnings From Gambling

The Internal Revenue Service just can't stay out of your pockets, even when you are taking risks to earn. In fact, the IRS believes it is entitled to your winnings if you have good luck worth $600 or more at a horse track or casino, $1200 or more if you ...

23rd November 2009

Solve Your Back Tax Troubles

If you earned money in the calendar year, you have to file an income tax return. If you had enough withholding, you may not need to pay the IRS anything. However, if you owe, you need to pay as soon as you possibly can. Stalling tactics and delay doesn...

23rd November 2009

Why You Need to File Back Taxes

If you earned $8900 as a single individual or about $17,800 as a married couple in the calendar year, you have to file an income tax return. If you had enough withholding, you may not need to pay the IRS anything. However, if you owe, you need to pay as...

23rd November 2009

How to Hire a Tax Professional for Your Small Business

If you own a business, you should not be doing the tax preparations yourself. Preparing an income tax return can be frustrating and confusing. Luckily, you have the option of choosing a professional to prepare your taxes for you. This will not remove a...

23rd November 2009

Payroll Taxes Gone Bad

The IRS is particularly watchful of small businesses and payroll taxes. In the past, many small businesses thought they could get away with ignoring such taxes more easily than the big businesses. The IRS caught on and is now on the watch for businesses...

23rd November 2009

Organize Your Income Tax Records neatly

Before even beginning to organize your tax records, be aware that the Internal Revenue Service recommends hanging on to them for three to seven years, depending on your personal situation. There are some records you might want to keep longer like records...

23rd November 2009

Types of IRS Tax Appeals

When the Internal Revenue Service move in on you personally or has targeted your business, the results can destroy you. The IRS has tremendous power to use on you. In their arsenal, the IRS can impose a Federal Tax Lien. Banks will block you from ope...

23rd November 2009

Paying Overdue Taxes to the IRS

If you owe overdue taxes to the IRS you cannot ignore paying them. Interest, fines, and penalties accrue from April 16 until the full debt is resolved. If you owe, you need to pay as soon as you possibly can, even if it means you have to use credit card...

23rd November 2009

If You Own a Business, You must Pay Payroll Taxes

As an employer, you must pay payroll taxes; there is no way around it. It is your responsibility to make all payroll tax deposits. The Internal Revenue Service has been cracking down on payroll tax compliance. If you own a small business it is imp...