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Quicken.Intuit.com is a website belonging to Intuit Inc., and it basically sales the Quicken software for financial analysis. All the products that can be bought from this website are: Quicken Deluxe, Quicken Premier 2013, Quicken Home & Business 2013, Quicken Rental Property Manager 2013, Quicken Essentials for Mac and other Quicken products and services.
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FreeTaxUSA is an authorized IRS e-file provider
To date, they have e-filed over seven million returns
In addition to e-filing current returns, they also help with other services
For example, they help consumers to print and mail prior year tax returns, since these cannot be sent via e-file
They have tax forms for small business, investment income and more
Tax payers are never sure whether the taxes for the coming year will be lowered ,maintained or increased. Also one is not sure whether allowances,deductions and rebates already existing will continue or whether some additional benefits will be granted.However, with proper planning an individual can take advantage of the various tax exemption benefits that are available , thereby reducing the tax one has to pay..
Electronic Receipts, Electronically Saved Documents, Photographed, Digital or Scanned Receipts can be accepted by IRS for Tax Audit Purposes provided they are stored and electronically saved according to the requirements of IRS. Filing system must be well organized in order to easily retrieve the necessary documents if Tax Audit arises.
There is good news for taxpayers that can't afford to pay their tax balance by April 17th. The IRS has announced that they have implemented more help for struggling tax payers. These benefits will make paying your tax debt a little less stressful and will give you a chance to keep your head above water in these hard economic times.
The rate of income tax varies in different countries depending on the income, country, economic policies etc. It is also differing in case of persons with businesses. Generally all countries are charging income tax. The tax collected is used for the welfare of the people. But certain countries are not imposing income tax on their people. The following is a list of countries that do not collect income tax:
Factors Governing Taxable Capacity
The fact is that the taxable capacity is not rigidly fixed. It is a moving point. It is relative to so many factors that any change in any of them is bound to change our estimate about the taxable capacity of a nation. Findlay Shirras gives the following factors which determine the taxable capacity of a nation.
What do you mean by taxable capacity?
The perception of taxable capacity has racked the brains of not a few economists and publicists. Dalton describes it "a dim and confused conception". Findlay Stirras, on the other hand, thinks that it is of great practical importance. "It is always wise and useful," he says, "for a government to know even roughly the limit that the country can contribute by way of taxation both in the ordinary and extra-ordinary circumstances."
Advantages and disadvantages of Indirect Taxes
Advantages of Indirect Taxes
Indirect taxes have advantages of their own. Briefly speaking they are as under:Â—
1. They are the only means of reaching the poor. It is a sound principle that every individual should pay something, however little, to the State. The poor are always exempted from paying direct taxes. They can be reached only through indirect taxation.
Advantages and disadvantages of Direct Taxes
Advantages of Direct Taxes
Direct and indirect taxes have advantages of their own. Direct taxes have some merits and so have the indirect taxes. Direct taxes have the following advantages in their favor: Â—
1. Equitable. The burden of direct taxes cannot be shifted. Hence, equality of sacrifice can be attained through progression. Of course, the very low incomes can be exempted.
Meaning of direct taxes and indirect taxes
Meaning of direct taxes
A tax is believed to be a direct tax when it is not anticipated to be transferred to any other individual. The individual who compensates it in the first case is also anticipated to bear it. Therefore, the effect and the prevalence are on the same individual. An instance of a direct tax is income-tax. The man who shells out income-tax has also to bear it.
(b) A turnover tax at each stage of production adds to the .price of the commodity at the final stage, and is, therefore, borne by the ultimate consumer. In the case of raw materials, it adds to the cost of production and raises the prices of manufactured goods. Such a tax is said to discourage trade and industry, and hence its incidence may be much widespread due to its adverse effects on trade and industry. It may create unemployment and thus make the workers suffer.
Importance of Incidence of taxation
The study of incidence is very important. The tax system is not merely aimed at raising a certain amount of revenue, butt the aim is to raise it from those sections of the people who can best bear the tax. The aim, in short, is to secure a just distribution of the tax burden. This obviously cannot be done unless an effort is made to trace the incidence of each tax levied by the State.
Essential of a good tax system
A good tax system should he composed of taxes which conform to the main canons of taxation. The system as a whole should be equitable. Its burden should fall on the- broadest shoulders. It should also be economical, so that the work of collection is done as cheaply as possible. It should not hamper the development of trade and Industry It should; on the other hand, assist the economic development of the country. The government should be certain of its reve...
Principle of ability to pay as a canon of taxation
The most important principle of taxation is the principle of equity or equality. Adam Smith has placed the canon of equality in the fore-front. The rest of the canons are merely of administrative nature. Therefore, this canon may be called the principle of taxation.
The proper distribution of the burden of taxation is one of the fundamental problems in the public finance of modern democratic Slates. The question of what ought to be done i...
Other Canons of Taxation
Economic science has progressed much since the days of Adam Smith. Later writers have added to his canons. The additions are:Â—
Canon of Productivity. This canon emphasizes that a tax should bring in a substantial amount of money to the State. After all, the main object of the taxing authority is to secure funds. Therefore, a tax which does not yield a fair income is useless. It is much better to have a few taxes which yield good revenue instead of many taxe...
Sometimes taking a tiny tax quiz is all you need to find out your understanding of tax calculations. Are you really prepared to file your taxes this year? Do you have all the information needed - or have you left out anything whereby you would miss tax deductions? Take this tax quiz and find out how well prepared you are.
Adam Smith's Canons of Taxation
Adam Smith's contribution to this part of economic theory is still regarded as classic. His enunciation of the canons of taxation has hardly been surpassed in clarity and simplicity. His four celebrated canons are as follows:Â—
1. Canon of Equality. Equality here does not mean that all tax-payers should pay an equal amount. Equality here means equality or justice. It means that the broadest shoulders must bear the heaviest burden.
The advantage of proportional taxation over progressive taxation is it is simple to compute and understand but simplicity is not necessarily a virtue in taxation. All over the world, governments now have switched over to the progressive form of taxation for direct taxation and proportional taxation is used only for taxing commodities.
Different types of taxes
The most significant supply of state revenue is taxes today. Taxes are an obligatory payment which every individual reaching the assessable limits needs to pay. They are normally imposed with the aim of raising funds by the government.
Taxes have been variously grouped as:
1. Progressive tax;
2. Proportional Tax;
3. Progressive tax;
4. Regressive tax;
Avoid tax season scams with these few simple tips. Be very careful about the selection of your tax preparer and ask as many questions as possible
This article will compare and contrast 2 of the most popular tax preparation companies on the market today: Turbo Tax and Jackson-Hewitt. It will look at the pros, cons, and price differences between using an online tax preparation program such as Turbo Tax vs. using a live tax preparer such as those found at Jackson-Hewitt.
To collect and remit taxes as an employer, you need to use IRS Form SS-4 to receive an employer tax number. If the state in which you operate also collects income tax, you will need a state tax number.
Besides the deductions your home office affords you, you can take a number of standard business deductions available to business owners in general, whether they work from home or rent office space. When claiming a deduction, make sure you have the necessary supporting documents such as canceled checks, sales receipts, and credit card slips and statements.
what is the purpose of a tax
why do we have taxes
In the State of New York normally it takes six to eight weeks to process the case of tax refund, once a return is filed by a tax payer.
What is independent contractor health deduction ? How to deduct health insurance by independent contractor ? How much can independent contractor deduct as health insurance ? What is self employed health insurance deduction ?
The inheritance tax is the same thing as the estate tax in the United States, but with a different name depending on the country that you are talking about
Taxes on wealth or simply wealth tax is the tax levied on the value of wealth owned by a person.
Knowing how to determine your tax status, and knowing the difference between each group will help to make filing your income tax return go smoother.
What tax breaks are available to single parents? How to get your highest tax refund if you are a single parent.
There are two tax breaks offered by the federal government that the majority of parents can qualify for, which are the dependent exemption and the child tax credit.
Are you paying too much in income taxes? Here are 7 tips to help you minimize taxes and keep more in your pocket:
FICA withholding can be a significant amount of your pay check. Learn more about the rules of Social Security Tax.
Preparing your own taxes or professional tax preparation which is best?
Here is a summary of the 7 type of taxes:
How to prepare taxes on the cheap. Online, e-file, or paper and snail mail, here are your options.