When faced with tax problem it is imperative that you hire a good tax attorney. A astute tax attorney will solve your tax problems at minimum possible tax outgo.

Tax treatment of scholarship received is not easy. In this article I have tried to simplify the tax treatment procedure of fellowship or scholarship that you have received when pursuing your education in United States.

If your accounts have been called for audit you will have about two weeks to get your records in order. If for some reason you are unable to get your records ready within the stipulated time of two weeks you can always ask for an extension.
If you cannot appear in person then you can mail [...]

The ruling of your auditor has 3 possible outcomes, the outcomes are
a) No Extra Tax Payable
b) Additional Tax Payable
c) Refund of Tax Paid
In most cases you will find that your taxes have increased.
In case you agree to the raise it is fine. What if you don’t have money to pay for the additional tax charged? [...]

For most people reading this article mobile phones are a necessity which they cannot live without. To claim depreciation on your cell phone the following conditions must be fulfilled
Use of Mobile Phone
You must use the cell phone specifically for the benefit of the employer. Cell phones used for personal benefit do not qualify for depreciation [...]

I am sure you must be the proud parents of your son or daughter who has got admission in college. Raising money is the first and biggest concern which parents go through today. The tax laws don’t provide you with college funding but allow you to take tax breaks on the amount spent on your [...]

If nominal requirements are met most bad debts incurred by small businesspeople can be written-off. If you want to claim tax deduction make sure you give the IRS the following details
a) You must submit documents which prove the existence of a legal relation between the small business and the debtor
b) Documentary evidence has to be [...]

You must have thought that filing of delayed tax returns is for those who are irresponsible and careless taxpayers. While this may be true for most cases, there are many people who delay filing returns because of its advantages. It is easy for individuals and businesspeople to qualify for tax extensions. Many taxpayers who know [...]

Knowing tax laws in the country that you live in can save you from many hassles. Tax status helps you to know the group under which you need to file your tax return. Here are some of the ways of determining your tax status.
There are five basic classifications under which an individual can file his [...]

Many people who deal with real estate are unaware of Capital Gains Tax. Capital gain on real estate is calculated by reducing the “adjusted price” from the sale price of the real estate. Adjusted price of the property is arrived at by adding the expanses incurred for improvements made to the property, any repair expanses [...]