What Tax Preparation Software Makes the Job Less Taxing?
January 19, 2008
The answers to the question may be different for you, but this is solely based on my experience with tax preparation software. First, if you go into any store that sells computer software, you will see tax preparation boxes littering the shelves at this time of year. Everyone wants to make a stressful process a […]
Reduce Your eBay Taxes with a Home Office Deduction
January 18, 2008
Do you know how much you’ll owe this year on your eBay income tax? Did you know you might be able to reduce those taxes by claiming a home office deduction? If you’re running a profitable business on eBay hopefully you’ve been making estimated tax payments throughout the year to avoid any kind of fees […]
How to Make Sure You Get What’s Coming to You at Tax Time
January 15, 2008
Whenever tax time rolls around, I still see my mother sitting at the kitchen table with all sorts of forms, receipts, and scraps of paper in piles encircling her. She was the mathematician in the family. If my dad had done the taxes, he probably would have tried to deduct something that wasn’t allowed. So, […]
Do eBay Sellers Need to Pay Self Employment Taxes?
January 7, 2008
After informing my eBay Partner that he needed to pay taxes on eBay his sales he called me up yesterday and asked if he owes self employment taxes in addition to income taxes on his eBay profits. My response was, if you are selling on eBay and have a net earnings of more than $400 in a year, you […]
Paying Taxes on eBay Income – Do eBay Sellers Need to Report their Earnings?
January 3, 2008
Should I be paying taxes on my eBay income? This was a question I was faced with yesterday from my friend / business partner as we celebrated our earnings for December. Our eBay partnership has been a success so far, bringing in over $700 for me last month! When he asked me whether he needed to be […]
Do NOT Tempt the Tax Man
January 2, 2008
Being self-employed as a work-at-home mom definitely has its perks. I can work early in the morning, or sleep in and work late at night. Also, since I am the boss, I can choose when to take time off or if I want to work overtime to get things done, so I can have a […]
The Blessing of Income Tax
December 30, 2007
Am I insane! No one thinks giving a significant portion of their hard earned income is a blessing! However, before you send someone out to put me in the loony bin, consider the following circumstances: The more money you make, the more income tax you are required to pay. A blessing? Yes, in a round-about […]
Are You Taxed by Your Taxes?
December 29, 2007
No one looks forward to paying taxes, unless they are 100% sure of getting a refund. If so, the forms are filed the minute all the necessary paperwork has been received. On the other hand, the people who anticipate owing taxes generally wait until the last possible moment to file. Thus, they are essentially taxed […]
Bah Humbug! Tis the Season for Income Tax
November 28, 2007
Do not shoot the messenger! Although I intellectually understand the necessity of paying my share of income tax, I too would rather not have the expense. As soon as the holidays are over, income tax information is deposited in my mailbox. Even though taxes are not due until April 15th, I know in advance if […]
Who Will Pay for Baby Bonds and How?
October 2, 2007
One of the best tips for building financial assets is to start early. Some people are fortunate enough to have family give us some seed money when we’re born. Others of us are lucky to have money savvy parents that start saving for us when we’re young and pass that money sense on. Of course, there […]
