Considering Self-employment? If you\’re thinking of starting a business venture, you\’ll want to understand how your business income would be taxed. As a self-employed person, you\’d be responsible for paying both income taxes and self-employment taxes on your earnings. Income taxes. Many self-employed individuals operate as sole proprietors. A sole proprietor doesn\’t file a separate […]
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Powerful Deductions, taxpayers like deductions because they\’re a key to lowering taxes. But not all deductions work the same way in the tax calculation. Those you are allowed to claim \”above the line\” can be especially powerful. On your personal tax return, abovethe- line deductions are subtracted from your income to arrive at your adjusted
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Tax Breaks for Caregivers, at some point in your life, you may find yourself caring for elderly parents or other relatives. Or you may be doing it now. Whether it\’s hands-on care or financial aid only, providing care may allow you to take advantage of certain tax breaks. Dependency exemption. The person you are caring
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Help With Health Insurance, consumers will soon be able to purchase health care coverage on new government-run insurance exchanges. The exchanges are being created pursuant to the health care reform law. The initial open enrollment period for the exchanges is scheduled to begin on October 1, 2013, and coverage will be offered on January 1,
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