The Tax Preparation Blog

Archive for November, 2008

Wiley Registered Tax Return Preparer Exam Review 2012 (Wiley Tax Return Preparer Competency Exam Prep: Individual Tax Filing) $35.14 The most effective system available to prepare for the new Tax Return Preparer Competency ExamIn recent years, the role of third party assistance in tax return preparation within the United States has become more significant. To acknowledge this trend, the IRS is strengthening partnerships with tax practitioners, tax return preparers, and other third parties in order to ensure effective tax admini…

Income Tax Fundamentals 2012 (with H&R BLOCK At Home(TM) Tax Preparation Software CD-ROM) $111.00 INCOME TAX FUNDAMENTALS 2012, 30E provides readers with a concise, practical, and time-tested introduction to the most important areas of tax law. For over thirty years, this textbook has been the market-leading standard due to its step-by-step workbook format that walks readers through real examples using actual tax forms. And, with plentiful study tools, including online interactive self-quizzes…

Income Tax Fundamentals 2011 (with H&R BLOCK At Home(TM) Tax Preparation Software CD-ROM) $33.79 Learn the skills you need for effective individual income tax preparation with the proven forms approach and hands-on workbook format. Income Tax Fundamentals, 2011 Edition, provides a concise, practical, and time-tested introduction to the most important areas of tax law. It is updated annually to ensure you are also learning the latest tax laws. Easy-to-read sections incorporate real examples us…

---

Tax Filing Tips From the IRS

Electronic filing, direct deposit will get your tax refund to you sooner Internal Revenue Service – Tax – Accounting – United States – Business

Star Trek: The New Animated Series

Question: I keep hearing of this ‘working income tax benefit’?

Does it come in with your gst check? How does it work? When I got my taxes done, the lady that did them showed me something that said $2000… and I also saw that the payment dates are the same as the gst… has anyone received this?

Answer: The working income tax benefit is a tax credit that is claimed by low income taxpayers. It is essentially a subsidy because it is fully refundable if the taxpayer cannot use it.

It is claimed at the time you file your tax return. It does not work like GST. However, there is a system of “advanced payments” (see link below).

In my opinion, the working income tax benefit makes more sense than minimum wage. In Ontario, minimum wage just increased but so have prices (because employers have higher labour costs). The WITB is basically a subsidy to help out lower income wage earnings.

The link below talks about eligibility.

Memorandum on quarterly installments of the income tax: Change of the fiscal year, and adjustments of dates of state aid payments, December 1, 1941 …

Reduction in Payments on Anniversary Date Did Not Convert Disability Pension into Retirement Income.: An article from: The Tax Adviser $5.95 This digital document is an article from The Tax Adviser, published by American Institute of CPA’s on May 1, 1999. The length of the article is 675 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.Citation DetailsTitle: R…

QuickBooks Premier 2012 $245.40 Format: BoxAge: Platform: WindowsFlexible small business accounting with the finance tools for your industry Product Information QuickBooks Premier 2012 is designed for established and expanding businesses with industry-specific tools and reports as well as business planning tools for making better decisions.  Premier includes all of the features of Pro and lets you choose one industry at start…

---

Free tax counseling available in Fort Madison

FORT MADISON, Ia. (WGEM) – Beginning January 25, free federal and state tax counseling will be offered by AARP tax aide Pat Dickens for residents in North Lee County.

Tax Credit for First Time Home Buyers, Government Mortgage Down Payment Assistance Program

Question: In WA, does the spouse need to claim child support on her taxable income?

Child resides with the parent receiving the child support in WA, who has the child more then 50% of the time. Father is not a resident of WA but Canada and did not claim payments on taxes. Payments were not court ordered, does anyone need to file the expenses/income for a tax adjustment?

Answer: The fact that you live in Washington is irrelevant. Child support is never taxable or claimable as a deduction. This is because the money is technically for the child, and parents supporting their child is not taxable.

This is different from alimony, where the money is for the ex spouse.

Wells Fargo Reports Record Full Year Net Income

SAN FRANCISCO—-Wells Fargo & Company :

Section 160 of the Income Tax Act (Canada)