Here is a set of ten quick quizzes on various aspect of Roth IRA for readers. The details quiz answer will go straight to your mail box. Taking the quiz will enhance your knowledge on the tax aspect of Roth… Read More »Roth IRA Tax Quiz : Test Your Knowledge
The IRS late payment penalty calculator is answer to find out the answer to the question ” how much does it cost to file taxes late ?”. So use this tool for fast estimation of amount that may imposed as penalty for failure to pay tax in time by a tax payer. The quantum of failure to pay tax is less than the penalty imposed for failure to file taxes. But , it is always prudent to not only file taxes in time , but also estimate tax penalty for underpayment and pay it as soon as possible ! Below is a Beta version of IRS tax penalty calculator Read More »IRS Late Payment Penalty Calculator
The mortgage interest is one of the most commonly utilized tax breaks under Internal Revenue Code by an Individual. In fact , most individual who takes loan for buying home , has to deal with the concept of mortgaging the… Read More »Mortgage Interest Deduction : 7 FAQs
Often taxpayers are confused about the two quite similar looking tax credits – Child Tax Credit and Child & Dependent Credit . This post is devoted entirely to the Child Tax Credit under which the maximum amount you can claim for the credit is $1,000 for each qualifying child. For knowing about Child & Dependent Tax credit , please read this articleRead More »Child Tax Credit is Different Than Child & Dependent Credit !
Frankly , no express law for tax deduction for home improvement exist. However, there are indirect ways by which your cost of home improvement can be deducted while computing taxable income. These are creative tax planning that require careful consideration… Read More »How to Get Tax Deduction for Home Improvement ?