There are several documents that you should have ready when applying for a mortgage loan. While some lenders will not require all of the documents, this list will help you be prepared.
Generally, club dues are not a deductible expense, but depending on the circumstances, a business meal at the club might be.
Keeping records and receipts for home improvements is essential as it lowers your tax basis in your home. This is most important when calculating the gain when eventually selling your home.
The Fair Tax Bill was first introduced in July 1999 and was re-introduced in early 2003 by U.S. Representative John Linder. The Bill repeals all federal personal income taxes, corporate income taxes, payroll taxes, self-employment taxes, capital gains taxes, gift taxes and estate taxes. In place of the repealed taxes, there would be a 23% national retail sales tax on all retail sales of new goods and services. Let us explore some of the elements of the Fair Tax Bill.
Withholding money from your paycheck is part of our “pay as you go” system for paying income tax. Generally you want to withhold enough to cover 90% of your tax liability.