Bank finance articles and tips

The fair tax is a tax reform proposal that was first introduced on July 14, 1999. Under this new tax law all federal taxes would be replaced with one single tax on retail sales. This tax rate would be 23% of all total payments made. (For instance, for every $100 spent you would pay a tax of $23). This is equivalent to a 30% traditional sales tax. I have researched this topic and found there to be more negative than positive aspects....

If you are running your small business or self-employment activity as a sole proprietorship, are you wondering what federal taxes you are required to pay? Read on to find out....

Did you file an extension for your 2010 personal income tax return back in April? If so, here's some good news for you - you have a few extra days to procrastinate! Read on for details.

Normally, by filing Form 4868 by April 15, you get an automatic six-month extension of time to file your federal individual income tax return. But when any federal tax due date falls on a Saturday, Sunday or federal holiday, the deadline is extended to the next non-weekend, non-holiday business day.......

If you are having a hard time with money right now, you can take comfort in the fact that you are not alone. Millions of American families are struggling with debt at this very moment. Many of the people are contending with unemployment, underemployment and underwater mortgages for the first time in their lives, and never had such troubles before now.

With the current state of the American economy, millions of Americans are finding much needed relief through bankruptcy. The government is fully aware of the national unemployment rate and the depressed real estate market. Fortunately, people are completely within their legal rights to seek out bankruptcy relief and the federal government lends their support. If filing for bankruptcy can make a bad situation better for you, by all means you should go for it.

Do you own an S Corporation and are wondering if you must make federal quarterly estimated tax payments? Read on to find out.

Generally speaking, an S Corporation usually does not incur any federal income tax. This is because it is what is called a "pass-through entity" for tax purposes. In other words, even though corporate profit does get reported on the federal corporate tax return, this return (Form 1120S) is really for information purposes only. Rather than have the S Corporation pay the income tax on its profits, those profits are passed on to the shareholders via a form called Schedule K-1. The shareholders must then report the corporate profits from Schedule K-1 on their personal tax returns, and that's where any income tax is reported and paid.

Millions of cardholders in the US find themselves crushed under the over burden of their debts. Irresponsible use of cards, urgent medical expenses and job loss are the real reasons behind their plight. Regardless of how you get into debt, it is crucial to know the way to expunge your existing debts.

Few guidelines have been enforced by the Federal Trade Commission (FTC) before settling your credit card debt. There is no guarantee that the settlement companies can settle your debt and lower it from 30% to 70% of the total debt. So, the FTC prohibits the company from taking any up front fee from the clients until they manage to settle a considerable portion of the owed amount. This new rule enforced by the FTC due to rising of the scam company.