Types of taxes
The Organisation for Economic Co-operation and Development (OECD) publishes perhaps the most comprehensive analysis of worldwide tax systems. In order to do this it has created a comprehensive categorisation of all taxes in all regimes which it covers: Income Tax Income tax is a tax on earnings – money that individuals, corporations, trusts or other legal entities receive in different ways and from different sources. The 'tax net' refers to what types of money payments are charged the tax. Generally, tax will be charged on personal earnings (wages), capital gains, and business income. The rates for different types of income may vary and some may not be taxed at all. Capital gains may be...
Property tax
Property tax is an ad valorem tax that an owner of real estate or other property pays on the value of the thing taxed. The taxing authority requires and/or performs an appraisal of the monetary value of the property, and tax is assessed in proportion to that value. Forms of property tax used vary between countries and jurisdictions. Canada Many provinces in Canada levy property tax on real estate based upon the current use and value of the land and this is the major source of revenue for most municipal governments in Canada. While property tax levels vary between municipalities in a province there is usually common property assessment or valuation criteria laid out in provincial legislation. There...
Value added tax (VAT)
Value added tax (VAT) is a type of sales tax. In some countries, including Australia, Canada, New Zealand, and Singapore, this tax is known as "goods and services tax" or GST; and in Japan it is known as "consumption tax". VAT is an indirect tax, in that the tax is collected from someone other than the person who actually bears the cost of the tax (namely the seller rather than the consumer). As VAT is intended as a tax on consumption, exports (which are, by definition, consumed abroad) are usually not subject to VAT or VAT is refunded. VAT was invented by a French economist in 1954. Maurice Lauré, joint director of the French tax authority, the Direction gén...
Poll tax
A poll tax, soul tax, or capitation is a tax of a uniform, fixed amount per individual (as opposed to a percentage of income). Such taxes were important sources of revenue for many countries into the 19th century, but this is no longer the case. There are several famous cases of poll taxes in history, notably a tax formerly required for voting in parts of the United States that was often designed to disenfranchise African Americans, Native Americans, and whites of non-British descent, as well as two taxes levied by John of Gaunt and Margaret Thatcher in the fourteenth and twentieth centuries respectively. The word poll is an English word that once meant "head", hence the name poll tax for a per...
Death of an Automobile Dealership
Closing a store requires considerable effort and attention and the items listed below, in no particular order, are minimal considerations when terminating a franchise and closing a dealership operation.THIS CHECKLIST IS NOT "ALL INCLUSIVE". YOU SHOULD CONSULT WITH YOUR ATTORNEY AND ACCOUNTANT AND THIS LIST SHOULD BE CONSIDERED AS AN ADDITIONAL AID FOR YOU TO USE TO BUILD UPON WHEN YOU CONFER WITH THEM.Basic Preparation1. Officers, Directors and ShareholdersBe certain to hold both directors and shareholders meetings and to obtain resolutions from each entity, authorizing the dealer to liquidate the dealership, or a substantial portion of the dealership's assets.Determine whether or not the...
There is a continual trend we are seeing which I can remember participating in over a decade ago, when cities were trying to figure out how to increase sales tax revenues when the large box stores outside of town came into nearby or surrounding areas. For instance a big and easy example would be Wal-Mart. Sam was smart and built his stores just outside of town near towns, which drew from neighboring towns of 5,000 or more from three to five directions. If you look at an over lay of Wal-Mart stores to an atlas of that state you will see the rural America can get anything they need at the best price without driving all that far.Unfortunately that awesome distribution system that Sam designed which...
Understanding the Three Different Types of Income
Part of learning to become financially free is to begin to understand that there are three different types of income. They are: capital gains, passive income, and earned income. They are the three types of ways to make money, and are very easy to understand.Capital Gains - When you buy a stock, and sell it for a higher price, you have made a capital gain. If you buy a house and then later sell it for a profit, you have made a capital gain. If you buy an antique at a low price and then sell it for a nice profit, you have made a capital gain. Capital gains are not passive income. They are a one-time payment that you receive from an investment because your investment has increased in value. Investing...
Bailiffs & Council Tax - Knowing What To Do
This article is about bailiffs who may call trying to collect Council Tax or Community Charge (Poll Tax) arrears. If a bailiff has contacted you to collect another sort of debt the law might be different.Council Tax and Poll Tax are usually collected by private firms of bailiffs on behalf of your local council. They try to take your goods away and sell them, usually at auction, to raise money to pay the debt...
Where Should I Put My Savings? Different Types of Investment Accounts
In the big world of investing, it seems we hear a lot about what securities to invest in, but not as much about what types of accounts to invest in. There are so many different types of investment accounts, each covering a different purpose, and new types of accounts seem to be created weekly. What are some of the basic types of investment accounts and what can they do for you? This article covers some of the accounts that are available currently and why you would use each one.Retirement AccountsIRA stands for Individual Retirement Account. An IRA is meant for those who do not have access to employer sponsored retirement plans such as 401(k) plans or those who would like to contribute more than the...
Real Estate Agents - What Type of Content Should You Include in Your Newsletter?
One of the biggest concerns for Realtors who publish their own email newsletter is determining the type of content that will gain interest from their readership. After all, real estate agents who engage in this endeavor want prospective buyers and sellers to open their newsletter and thus be reminded that the agent is their local real estate expert. Ideally, readers should find the content so interesting that they will even forward the newsletter to their friends or relatives who might be prospective clients as well. This "viral marketing" often leads to a profitable source of income for agents.An important first step is to determine what is of interest to your readers. Put yourself in their...
Understanding the Three Different Types of Income
Part of learning to become financially free is to begin to understand that there are three different types of income. They are: capital gains, passive income, and earned income. They are the three types of ways to make money, and are very easy to understand.Capital Gains - When you buy a stock, and sell it for a higher price, you have made a capital gain. If you buy a house and then later sell it for a profit, you have made a capital gain. If you buy an antique at a low price and then sell it for a nice profit, you have made a capital gain. Capital gains are not passive income. They are a one-time payment that you receive from an investment because your investment has increased in value. Investing...
The Delicate Art of Balancing The Budget
Government budgets represent between 25% and 50% of he Gross Domestic Product (GDP), depending on the country. The members of the European Union (Germany, France) and the Scandinavian countries represent the apex of this encroachment upon the national resources. Other countries (Great Britain, to name one) fare better. But even the more developed countries in South East Asia do not clear the 25% hurdle.The government budget, therefore, is the single most important economic decision, the most crucial economic event every (fiscal) year.The government finances its budget mainly by taxing individuals and corporations. Ultimately, households pay the bill. Even corporations are owned by individuals and...
What Is To Become Of The Hybrids
Many hybrid cars will compensate for the premium that is added to their window prices on account of elevated gas prices and tax credits from the U.S. government on the more fuel economic vehicles.Both hybrid cars and trucks, which get better mileage in city driving by operating on an assemblage of gas and electric power, are priced between $1,300 and $7,500 more than longstanding versions of the same vehicles, reported by a fuel economy report by indicated that the scales were beginning to go in favor of hybrids. High gas prices and ample tax credits now counterbalance the high sales costs of many hybrids, taking for granted owners retain their hybrids for several years according to an analyst with...
Guess what? Our recent investigation shows the uranium to be enriched in the LES/Urenco proposed enrichment facility in Lea County, New Mexico may come neither from uranium properties in New Mexico nor anywhere else in the United States. Just as New Mexico's nuclear/uranium mining renaissance was ready to get underway, a deal may have already been cut to enrich uranium mined in a foreign country. Louisiana Energy Services (LES), through the consortium's general partner Urenco Ltd., may have struck a deal with Canadian-based Cameco Corp. Will this uranium come from Canada or Kazakhstan?According to New Mexico State Senator Carroll H. Leavell, the uranium ore to be enriched at the facility near Eunice...
Understanding the Three Different Types of Income
Part of learning to become financially free is to begin to understand that there are three different types of income. They are: capital gains, passive income, and earned income. They are the three types of ways to make money, and are very easy to understand.Capital Gains - When you buy a stock, and sell it for a higher price, you have made a capital gain. If you buy a house and then later sell it for a profit, you have made a capital gain. If you buy an antique at a low price and then sell it for a nice profit, you have made a capital gain. Capital gains are not passive income. They are a one-time payment that you receive from an investment because your investment has increased in value. Investing...
Bailiffs & Council Tax - Knowing What To Do
This article is about bailiffs who may call trying to collect Council Tax or Community Charge (Poll Tax) arrears. If a bailiff has contacted you to collect another sort of debt the law might be different.Council Tax and Poll Tax are usually collected by private firms of bailiffs on behalf of your local council. They try to take your goods away and sell them, usually at auction, to raise money to pay the debt...
To be justified, taxes should satisfy a few conditions:Above all, they should encourage economic activity by providing incentives to save and to invest. Savings - transformed into investments- enhance productivity and growth of the economy as a whole.A tax should be simple - to administer and to comply with. It should be "fair" (progressive, in professional lingo) - although no one seems to agree on what this means.At best, it should replace other taxes, whose compliance with the above conditions is less rigorous. In this case it will, usually, lead to budget cuts and reduce the overall tax burden.The most well known tax is the income tax. However, it fails to satisfy even one of the conditions...
A Freelancer's Journey, Part One
Today it begins.I have always known I was a freelancer. The phrase my family uses to describe me is "not a nine-to-five-er." That said, nine-to-five does carry some not-so-romantic but comforting benefits. Health insurance. Travel reimbursement. Gas mileage. A regular paycheck.But alas, I'm the daughter and granddaughter of entrepreneurs, and I'm also of the "ownership society."I love to write. No such thing as retirement--writing is who I am. But with that ideal and that passion comes every writer's downfall. Running a business. Getting paid.We right-brained people with our horrendous filing cabinets and hard drives/Zip drives full of e-mails have to spend time organizing, like any...
Understanding the Three Different Types of Income
Part of learning to become financially free is to begin to understand that there are three different types of income. They are: capital gains, passive income, and earned income. They are the three types of ways to make money, and are very easy to understand.Capital Gains - When you buy a stock, and sell it for a higher price, you have made a capital gain. If you buy a house and then later sell it for a profit, you have made a capital gain. If you buy an antique at a low price and then sell it for a nice profit, you have made a capital gain. Capital gains are not passive income. They are a one-time payment that you receive from an investment because your investment has increased in value. Investing...
How To Grasp Small Business Taxes in the USA
I have collected information here to assist you with the overall requirements by the IRS so that you can plan your business a little better. However, as we all know there will be ammendments to these points raised below from time to time and you would be best to confirm anything you read on this page with the relevant department. You can simply do this by the internet at when you think you need to.The first pointy I would like to raise is the type of business you are in - this will determine what taxes you must pay and how you pay them. Here are the four basic types of business taxes.- Income Tax- Self-Employment Tax- Employment Taxes- Excise TaxLet's run through them -1. Your Income TaxJust about...
Starting a business is a struggle, especially if you lack resources. For example - why isn't there enough small-business software that is free?In december 2005 DABE Solutions Ltd. released a first free software package for small- and medium-sized businesses.Current functionality includes:* form and print out quotes, invoices, shipment documents etc.,* overview of receivables and unpaid invoices,* overview of customer sales and top customers,* overview of sales by salesmen,* overview of sales by articles,* VAT report,* functionality can be customized according to your needs with low cost and in short amount of time,* very flexible user environment, you can stretch different parts of data entry forms...
History of Previous European Currency Unions
The Euro feels like a novelty - but it is not. It was preceded by quite a few Monetary Unions in Europe and outside it.To start with, countries such as the USA and the USSR are (or were in the latter's case) monetary unions. A single currency was or is used over enormous land masses incorporating previously distinct political, social and economic entities. The American constitution, for instance, did not provide for the existence of a central bank. Founding fathers, the likes of Madison and Jefferson, objected to its existence. A central monetary institution was established only in 1791 (modelled after the Bank of England). But Madison (as President) let its concession expire in 1811. It was revived...
Understanding the Three Different Types of Income
Part of learning to become financially free is to begin to understand that there are three different types of income. They are: capital gains, passive income, and earned income. They are the three types of ways to make money, and are very easy to understand.Capital Gains - When you buy a stock, and sell it for a higher price, you have made a capital gain. If you buy a house and then later sell it for a profit, you have made a capital gain. If you buy an antique at a low price and then sell it for a nice profit, you have made a capital gain. Capital gains are not passive income. They are a one-time payment that you receive from an investment because your investment has increased in value. Investing...
WHAT DOES A WILL DO?The simplest way to ensure that your funds, property and personal effects will be distributed after your death according to your wishes is to prepare a will. A will is a legal document designating the transfer of your property and assets after you die. Usually, wills can be written by any person over the age of 18 who is mentally capable, commonly stated as "being of sound mind and body."WHO NEEDS A WILL?Although wills are simple to create, about half of all Americans die without one (or Intestate). Without a will to indicate your wishes, the court steps in and distributes your property according to the laws of your state. Wills are not just for the rich; the amount of property...
In the big world of investing, it seems we hear a lot about what securities to invest in, but not as much about what types of accounts to invest in. There are so many different types of investment accounts, each covering a different purpose, and new types of accounts seem to be created weekly. What are some of the basic types of investment accounts and what can they do for you? This article covers some of the accounts that are available currently and why you would use each one.Retirement AccountsIRA stands for Individual Retirement Account. An IRA is meant for those who do not have access to employer sponsored retirement plans such as 401(k) plans or those who would like to contribute more than the...
How I Became a Syndicated Columnist -- And You Can Too!
Real Estate has "Location, location, location," and writing has "Clips, clips, clips."When people ask me how I became a syndicated columnist, I usually say, "it just snowballed." And basically that's what happened: one publication led to another, which led to another, and so forth.I began my career writing for a small community paper in my neighborhood. To look back on those first published clips is quite entertaining! But how can I be ashamed? The work I did at The Julington Creek Plantation Press (the JCPP) became a springboard for my now nationally syndicated column "Shore Duty."(If you read between the lines here, what I'm saying is, Don't be impatient, and don't expect quick success! Be willing...
How to Start a Cleaning Business for under $1000
Although challenging, it is possible to start a cleaning business in two weeks for under $1,000. Be aware that you may need another source of income while your business is growing. If you have customers already waiting for your services you can get started cleaning in a few days, then word of mouth might increase your customer base. Keep in mind that obtaining new customers can be time consuming and costly. In addition, your costs will rise considerably if you purchase liability and worker's compensation insurance. Realistically, you should expect to invest more than $1,000 to keep your business growing once you have obtained the minimal basics. If your goal is to earn a substantial living...
4 Simple Steps to Reduce Your Taxes In 2006
Does Tax Season get you down?Here are 4 simple steps that any small business owner can take to lower your tax bill this year.STEP #1: Understand How Serious Your Tax Problem IsAre you aware of just how much in taxes you are paying?Here's how much the average family spends on various consumer categories -- as a percentage of income.You must realize that it's not how much you spend on taxes that is important, it's how much you spend on taxes as compared to all other major categories of spending.Consumer Spending: How Do You Spend Your Hard-Earned Dollars?Taxes ---------------------- 32.0% Housing -------------------- 16.7% Medical Care --------------- 11.5% Food ----------------------- 8.2...
Why Paying Your Income Taxes With a Credit Card is a Rip Off
If you own your own business or have not been deducting enough from your paychecks each week, you will probably owe some income taxes when tax time rolls around. This is never fun, and if you do not have the money in your checking account right now, you might be tempted to pay the taxes with your credit card...
How To Turn Business Losses Into Cash Flow
When the typical new business operator starts a business, they concentrate on making the business succeed. That is necessary but not the only thing that a business operator should concentrate on. A business depends on cash flow to exist and grow, so business operators would do their business a good turn by looking at sources of cash flow provided by the Government.We are talking about the taxation authorities such as Inland Revenue Department in New Zealand (IRD), the Australian Taxation Office in Australia (ATO) and Inland Revenue in the United Kingdom and the Inland Revenue Service in the USA (IRS). All of these taxation administrations, along with those in Canada and South Africa for example...
Municipal Bonds - Understanding Tax Free Municipal Bonds
Municipal bonds and notes are issued by state and local governments. These municipalities include: States Counties and Cities Towns and Schools Municipal AuthoritiesInterest payments on traditional municipal bonds are exempt from federal tax. They are subject to state and local tax.Tax Free YieldWhen looking to purchase muni bonds, a person should understand how tax exempt yields work. The higher the tax bracket, the higher the yield. If an investor is considering buying a 6% municipal bond at par and they are in the 28% tax bracket, the tax free yield would be higher than 6%. The formula is: Municipal stated rate or coupon divided by 100 minus the tax bracket.The calculation would break...
The difference between rates and wages is not always clear to newly self-employed people and their wage-earning clients.Both look similar on the surface; both are expressed in dollars and cents per hour. But they each represent something very different.Wages are the payment a worker receives for his labor.Rates are the payment a business receives for performing a serivce to a client. In addition to the labor used in performing that service, rates must cover the business's overhead.Because of that, rates have to be higher than hourly wages earned by employees for comparable work.Most newly self-employed workers are former employees. They are accustomed to receiving pay based on wages...
How to Save Taxes with an S Corporation
Ever wondered why so many small businesses-more than 3,000,000 at last count-operate as an S corporation? Simple. An S corporation saves business owners big taxes in three separate ways:First, as compared to regular corporations (sometimes called C corporations), S corporation owners can use the business's losses incurred during the early lean years on the owner's personal returns as deductions. For example, suppose a new S corporation suffers a $20,000 loss its first year and that the corporation is equally owned by two shareholder-employees, Smith and Jones. Smith and Jones each get a $10,000 business deduction on their individual tax returns because of the S corporation loss. This $10,000...
The WWW Of Affiliate Marketing
Introduction:I was just studing a E-course about the amazing concept of Affiliate Marketing and decided I needed to get this info out to as many people as possible.We will take a short look at these three topics, the Who - What - Why, of Affiliate Marketing in reverse order.The Why of Affiliate Marketing:Whether it is extra income or full time income, one of the main reasons why, of course, is to make money. A second reason would be to try out different niche markets and some marketing ideas you may have for those niche markets.The What of Affiliate Marketing:For some of you affiliate marketing is a mystery or at least a not completely understood concept. Let me explain it to you with a story...
Bailiffs & Council Tax - Knowing What To Do
This article is about bailiffs who may call trying to collect Council Tax or Community Charge (Poll Tax) arrears. If a bailiff has contacted you to collect another sort of debt the law might be different.Council Tax and Poll Tax are usually collected by private firms of bailiffs on behalf of your local council. They try to take your goods away and sell them, usually at auction, to raise money to pay the debt...
Avoid Common Real Estate Investment Mistakes
No matter if you are a seasoned real estate investor or a first-time buyer, there are some mistakes that you should watch out for.Buying a home is a true investment. You hope that you buy low, gain value and sell high. But like any investment, there is risk. Market conditions, mortgage terms and property location will factor into how much risk you will face. Here are some common mistakes that people make when buying properties.1. Leaping with your eyes shutYou shouldn't ever put your money into something without knowing what you are getting, where you are going and what you want out of it. You need to know what you are buying, why you are buying and what you are going to do with it. Too many people...
How To Grasp Small Business Taxes in the USA
I have collected information here to assist you with the overall requirements by the IRS so that you can plan your business a little better. However, as we all know there will be ammendments to these points raised below from time to time and you would be best to confirm anything you read on this page with the relevant department. You can simply do this by the internet at when you think you need to.The first pointy I would like to raise is the type of business you are in - this will determine what taxes you must pay and how you pay them. Here are the four basic types of business taxes.- Income Tax- Self-Employment Tax- Employment Taxes- Excise TaxLet's run through them -1. Your Income TaxJust about...
Report Says US Is a "High Tax" Economy
The US and Canada have been grouped in with the Republic of Congo, China, Brazil and Germany in a new study by the CD Howe Institute. The report by the Canadian conservative think tank shows that the US has some of the highest effective tax rates on capital among 81 developed and developing countries.The 2006 Tax Competitiveness Report looked at 81 countries and scores them according to their tax treatment of business investment. The study concluded that highly taxed Canada ranks a disappointing 8th place.The "investment-hostile" Republic of Congo ranked first, according to the study. The US ranked among the most heavily burdened, with an effective tax rate on capital of 38%, above both Canada and...
In the big world of investing, it seems we hear a lot about what securities to invest in, but not as much about what types of accounts to invest in. There are so many different types of investment accounts, each covering a different purpose, and new types of accounts seem to be created weekly. What are some of the basic types of investment accounts and what can they do for you? This article covers some of the accounts that are available currently and why you would use each one.Retirement AccountsIRA stands for Individual Retirement Account. An IRA is meant for those who do not have access to employer sponsored retirement plans such as 401(k) plans or those who would like to contribute more than the...
The Real Dracula: A Monster of his Time
This Article Has Violent Descriptions, Not Intended For Young ReadersContrary to popular belief, there was a real Dracula, who was known for his evil acts while he reigned over his kingdom. His full name was Vlad III Draculea (which is transliterated into Dracula), son of Vlad II Draculea, born in Transylvania in 1431, and dying in 1476. He had three main reigns, his first in 1448, his second (the longest) from 1456-1462, and finally in 1476. He spent most of his time in Tirgoviste and Bucharest. Dracula built many fortresses, monasteries, and walls, the most famous of which was Castle Dracula, which was placed in a remote, isolated area. Many consider Dracula to be the ideal Machiavelli prince, in...
Homeowners Deduct Over $9,000 in Mortgage Interest
The average homeowner deducts $9,650 for mortgage interest, according to analysis released on Thursday.The National Association of Home Builders says that 35 million taxpayers used the home-mortgage deduction in 2003, deducting $338 billion. Thirty-nine million households deducted real estate taxes for the year, which added $119 billion to homeowner tax breaks across the country.The average homeowner deducted $3,000 in real estate taxes.IRS data was used in the NAHB analysis. It stressed the importance of preferences in the tax code for homeowners."Because the mortgage interest and real estate deductions significantly reduced federal tax liabilities for homeowners, they are important tools for...
Scranton, PA; A nice place to live, work or play
Scranton, PA who has copied the Painted Horses from Casper WY to draw in tourism has a few tricks still up their sleeves. For a town with a lot of old history, it is having some good growth in newer parts of the city and surrounding areas. One college age student we had a chance to talk to says most college age kids try to figure out a way to make thier place in the world outside of their hometown of Scranton, this maybe why these kids would good family values choose other cities to make their way in. Scranton of course known for it's history in coal mining and it's closeness to the Pocono Mountains, which are still and East Coast Favorite get away. .Coal mining in PA goes way back to the middle of...
Understanding the Three Different Types of Income
Part of learning to become financially free is to begin to understand that there are three different types of income. They are: capital gains, passive income, and earned income. They are the three types of ways to make money, and are very easy to understand.Capital Gains - When you buy a stock, and sell it for a higher price, you have made a capital gain. If you buy a house and then later sell it for a profit, you have made a capital gain. If you buy an antique at a low price and then sell it for a nice profit, you have made a capital gain. Capital gains are not passive income. They are a one-time payment that you receive from an investment because your investment has increased in value. Investing...
QuickBooks Searches - San Diego is the Hotspot
San Diego, California, is the number one city for searches related to the keyword "QuickBooks," according to the research tool, Google Trends. This means that many people who live in San Diego are searching for information regarding that product. The problem with doing a general search for term "QuickBooks" is that too many sites appear to make the search meaningful. If you're having trouble with QuickBooks, you need to search in the right places for the help you need.Intuit, maker of QuickBooks, maintains a database of Certified QuickBooks ProAdvisors. These people have passed Intuit's three-part testing process with an average score of at least 85%. As of today’s date there are 84 Certified...
Where Should I Put My Savings? Different Types of Investment Accounts
In the big world of investing, it seems we hear a lot about what securities to invest in, but not as much about what types of accounts to invest in. There are so many different types of investment accounts, each covering a different purpose, and new types of accounts seem to be created weekly. What are some of the basic types of investment accounts and what can they do for you? This article covers some of the accounts that are available currently and why you would use each one.Retirement AccountsIRA stands for Individual Retirement Account. An IRA is meant for those who do not have access to employer sponsored retirement plans such as 401(k) plans or those who would like to contribute more than the...
Not Listening Can Hurt Your Small Business
Most small business owners seek advisors who can help them improve their businesses. They want advice from those who have the experience and really know what they're talking about. But they can only benefit from the sound counsel if they listen to the expert's guidance. Unfortunately, there are some entrepreneurs who aren't going to hear the professionals out or follow a plan no matter what. At that point, experts realize that they might as well save their breath and hope that the business owner will eventually see the error of their ways before it's too late.When it comes to offering his advice, franchisee Sam Badgley is very up front with his Fiducial clients in Williamstown, WV. He tells...
Understanding the Taxes Imposed on Your Telecom Bills
Taxes and tax-like charges can add as much as 25%, and more, to local telephone charges in some jurisdictions. This is an area to which no rules are universally applicable, so all generalities have exceptions. That being said, there are three "rules-of-thumb" which can be useful in understanding the taxes placed on your bills.1. Generally, the four types of taxes include service fees and charges; franchise tax or surcharges; sales use or special taxes; and federal excise tax.2.Taxes are not uniformly imposed on all services.3.Some categories of users are exempt from some taxes.Let's take a closer look at specific taxes you'll encounter on your bills.Specific Service Fees and Charges These charges...
Working the Treadmill
The lifestyle of an average person of today is dramatically different from that of the past years. The convenience of having an automobile has decreased the time spent in walking to the destination. Televisions and personal computers have replaced outdoor activities. Fast foods have become a significant part of the daily diet. It comes as no surprise that such a lifestyle can bring about a sedentary life among many, which is the leading cause of obesity. The awareness of the obesity phenomenon has lead many people to reconsider their lifestyles and take action supporting a healthier body through balanced and healthier diets and religious exercise.With a variety of exercises available, one would...
IRS Adjusts Revenue Procedure on Mileage
Recent gas price trends have impacted the standard mileage rate allowed by the IRS. Small business owners should be aware of the latest adjustments and take full advantage of all available deductions.The IRS normally updates the mileage rates once a year in the fall for the next calendar year. However, because of recent gas price trends, the IRS and Treasury Department recently announced an increase to the optional standard mileage rates for the final four months of 2005. The rate will increase to 48.5 cents a mile for all business miles driven between Sept. 1 and Dec. 31, 2005. This is an increase of 8 cents from the 40.5 cent rate in effect for the first eight months of 2005, as set forth in Rev...
Understanding the Three Different Types of Income
Part of learning to become financially free is to begin to understand that there are three different types of income. They are: capital gains, passive income, and earned income. They are the three types of ways to make money, and are very easy to understand.Capital Gains - When you buy a stock, and sell it for a higher price, you have made a capital gain. If you buy a house and then later sell it for a profit, you have made a capital gain. If you buy an antique at a low price and then sell it for a nice profit, you have made a capital gain. Capital gains are not passive income. They are a one-time payment that you receive from an investment because your investment has increased in value. Investing...
QuickBooks Searches - San Diego is the Hotspot
San Diego, California, is the number one city for searches related to the keyword "QuickBooks," according to the research tool, Google Trends. This means that many people who live in San Diego are searching for information regarding that product. The problem with doing a general search for term "QuickBooks" is that too many sites appear to make the search meaningful. If you're having trouble with QuickBooks, you need to search in the right places for the help you need.Intuit, maker of QuickBooks, maintains a database of Certified QuickBooks ProAdvisors. These people have passed Intuit's three-part testing process with an average score of at least 85%. As of today’s date there are 84 Certified...