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Wednesday, October 31, 2007

Why I Like real estate for back taxes-

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When it's Time to do Your Income Taxes.


For many people, they usually start doing their income taxes as soon as they get their W-2's back from their employers. However, there are some that like to wait until the deadline; which in most states if not all of them, is April 15th.

Many times when people procrastinate in doing their income taxes; that usually means that they will end up paying back into the state or that they will break even. By that, they will not end up getting a refund of any sort because they did not pay in enough taxes to what they grossed for that years income. Where as those that files their income taxes right away, they will usually end up getting a refund of some sort! Most often when a family does not gross a lot of money, their income tax returns will be fairly high.

When filing your state and federal income taxes, the very most important thing that you will need to have are all you W-2's, if you are not self-employed. However, if you are self-employed you will need all of your 10-99 forms or any other forms you have. Along with having the forms, you will need to send copies into the state with the tax forms you need to fill out. Secondly, you will need the income tax forms themselves. In most cases, the government will send you the booklet provide you e-filed the previous year. If you did not, then you will have to go to a public/state building that will have the booklets. The easiest way though, is to e-file your income taxes. When you e-file, you are filing your income taxes over the computer through the internet. Then, all you will have to do is sign a form that gets printed out and mail that with your W-2 that you got from your employer!

One important thing that everyone should know when filing your income taxes, is to make sure that you have them filed by the due date. In most states, the due date to have the income taxes done by is April 15th. If you are self-employed or under other circumstances; need an extension you may file for one. If you are granted an extension, you will have until November 15th to have your income taxes filed. Many times when people have a lot of W-2 forms or other forms, they will end up having a professional file their taxes for them; especially those that are self-employed!

When filing your state and federal income taxes, it is a fairly easy thing to do. However, if you do not know what you are doing then it may be difficult and possibly end up making a huge mistake! Therefore, if you are in doubt of doing your taxes-don't do them; ask for help or hire someone to do them for you!!!
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Do I Still Pay Taxes on Social Security Income?

Most often when people are disabled, they end up receiving social security. What scares people the most is they wonder how they can afford to live while paying taxes on social security income; or if they even have to pay taxes on social security income.

For many people, the question "Do I still pay taxes on social security income" is one of the most asked questions. It may not be for them, possibly a spouse, sibling, or parent; but it is still on their minds. The answer; is both yes and no.

Most people when they collect a social security income, they are retired. However, because people are living much longer than those in the past, are also working longer. Therefore, many times when people hit retiring age, they are still working. So, they choose to keep working and collect the social security income at the same time. So, if you continue to work as well as collect social security income, yes, you will have to pay taxes on social security income. Therefore, the only time you wouldn't have to pay taxes on social security income is if that was the only income you had coming in!

When it comes to paying taxes on social security income, all within the last 15-20 years did the laws change. In fact, in 1983 is when the law changed stating that retirees with an annual income above the limit must pay taxes on social security income. When a person makes $25,000-$34,000, they may have to pay 50% of their benefits to taxes; and so on; going by what they make. However, the most taxes a person will have to pay in their social security income are 85% taxes.

Also, in 2005 the Social Security Administration had changed the social security income again. It was changed so that taxes will only be taken out of a workers wage for on the first $90,000. There after, no more social security will be taken out, and everyone will be paying the same amount of taxes for their social security income.

So, if you are a person that is thinking about collecting your social security income, the most beneficial thing for yourself to do is to retire completely. Then once you're completely retired, start collecting your social security income. If you retire first, then you will not have to pay taxes on social security income! Whereas if you collected them while working, you will be paying taxes on both incomes coming in!!


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Are People Really Filing Their Taxes Online Free of Charge?


Today, there are more and more people utilizing the internet in order to file their income taxes! In fact, there are now millions of people each year using the internet so that they can file their taxes online.

When it comes to filing income taxes, one of the newest trends is to file the state and federal income taxes online free of charge. In fact, there are now many different sites that allow people to file their income taxes online free of charge!

For those people that have never gone on the computer to file their income taxes, they are not sure of where they need to go, especially when there are many places! They are not always sure what website they want to go to. In fact, there are many different websites to choose from. One of the most popular websites to file your income taxes online free of charge is the IRS/government website. That particular website is very easy to follow. In addition, people know that it is a safe website to use because it is the governments!! Another great website that many people use is the TurboTax website. Not only is it as great as the software, but it is equally as easy to use!

When people use the free online tax websites for the first times, many of them say that the websites are very easy to use. In fact, many of them also say that they websites give step-by-step directions to filling out all the forms, and if you need help it's easy to get assistance. However, for many of them it is strange to be able to file taxes online free of charge as they have been filing taxes most of their lives through the mail. Although, times are now changing more and more towards the internet!

Not only are their websites that are filing taxes online free of charge, but there are many other websites that say they are free of charge but you will still have to pay for the service fees! That is where many of the websites trick people! Most people aren't aware that the websites still have a service fee to use them, until it is too late; then they ending up having to pay the charges! However, with many of the websites it is easy to tell if they charge people or not. In fact, many times you can tell directly by the name of the website or the description!

When deciding on whether you want to file your taxes online free of charge or take them to a professional, it may be difficult. However, if you have never tried filing your taxes online, you may be spending more time on your taxes than you need to!

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Councilor-at-large candidate Dehner owed back taxes - SouthCoastToday.com

Wed, 31 Oct 2007 05:16:02 GMT

Councilor-at-large candidate Dehner owed back taxes
SouthCoastToday.com, MA - 16 hours ago
By Steve Urbon NEW BEDFORD — At-large City Council candidate Kathy M. Dehner, a real estate agent whose platform includes a call for lower property taxes, ...


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