The Tax Questions Blog

Question: Tax question- When filing taxes are real estate, school, county and city taxes all included in Property taxes?

Trying to use Turbo Tax----Asking for Property taxes (in PA), but doesn't have a line or question about school, city or county taxes.

Answer: Generally they are all in one package--the county bills you for the county, school, library, mosquito abatement, etc.
When itemizing you can take all taxes paid, whether lumped together or not.

Tax season is just around the corner

Baby it's cold outside!

Your Money: Online Tax Filing

One of the most interesting and enjoyable ways to try your hand at real estate investment & listings in Virginia, Washington, Maryland are through the ownership of vacation property you can use for your own holidays, or to generate income as rental property. If you have been looking for a way to acquire a getaway for yourself and your family, but need to find a way to justify the expense, then a real estate venture involving vacation property may be ideal.

Let's say you want to buy a mountain house, to go during the hot summers in order to escape the brutal humidity and high temperatures. You can find a mountainside cottage, use it for your family summer vacations, and then rent it out to others the rest of the year. Best of all, when you rent it to others as a real estate investment, you qualify for business tax deductions for such things as routine upkeep. Even visits to the property to check on it can be considered business expenses, so you might be able to kill two birds with one stone, by traveling to your vacation property on business, and then sticking around for a personal vacation with some enviable tax advantages.

For further assistance on real estate listings, real estate agents, real estate investment, real estate group, Real Estate Company, real estate clubs, real estate trust, investment property and real estate investing in Virginia, Washington, Maryland, browse http://www.therealestateinvestmentqueen.com/article23.htm and http://www.marylandrealestatesecrets.com now!

For more information contact at:

Maryland Real Estate Secrets

6333 old branch ave #302

Temple hills, Maryland

USA, 20748

Phone: 301-449-5425

Fax: 301-449-0620

info@marylandrealestatesecrets.com

Many in Ontario to see income tax drop in 2010 as part of HST package: minister

TORONTO - Almost all Ontario residents will get a modest income tax cut starting in 2010, which many will be able to see for themselves when they get their January paycheques, Revenue Minister John Wilkinson said Wednesday.

Question: Is Naturalization application same as Citizenship application?

These forms i saw on the internet say..Naturalization...I'm looking for Citizenship forms. Another question..how long is the processing time( waiting time after filing all the necessary papers???

I'm a permanent resident now ....i'm here ILLEGAL!!!!!!

Thank you Americans!!!
OH no sorry..i'm here LEGAL!!!!

Answer: They are all the same . Naturalization is an act that a legal immigrant undertakes in the process of becoming an american. visit this website to gather information www.uscis.gov/ and search for citizenship

Iranian immigrant's training by militia stalls residency bid

The Carlsbad resident said he got just five hours of self-defense training during the Iran-Iraq war. Immigration officials say the group was designated a terrorist organization at the time. It was in the first few weeks of the Iran- Iraq war in 1980, and Sadegh Behrouz Vazeri was a 20-year-old engineering student at the University of Tehran.

Finding a Knowledgeable Immigration Attorney | Citizenship

Question: dividend income from mutual funds?

Hi,
Is Dividend income from mutual funds is taxable in india ? .IF received the dividend from ELSS scheme and if i reinvest the dividend into same scheme, do i get benefit under 80 C. do I need to show dividend as income in my return ?

Answer: Yes. The Dividend re-investment is also like a new investment and you are allowed exemption u/s80C.

You have to show the tax free dividends in ITR return form under:

Schedule EI; Details of Exempt Income (Income not to be included in Total Income)

I advise you not to opt for dividend re-investment plan. Instead of that go for Growth option.

If you’re audited, let the pros handle it

By Edward J. Loughrey The representative must have a Form 2848, Power of Attorney (POA) document, signed by the client that he/she will submit to the auditor. This will enable him/her to discuss all matters pertaining to the tax audit. This POA is limited to only to the tax issues at hand.

Question: How do I give my minister a gift so he doesn't have to declare it as income?

As i understand it...clergy have to report monetary gifts as taxable income even though the giver expects it to be a gift to commemorate a birthday or anniversary etc.

Answer: Ministers are required to report donations given to them in return for performing a service (wedding, baptism, funeral) as income -- however, the way I understand it, they do not have to include gifts that are truly meant to be *gifts*. Your minister should be aware of the exact rules and undoubtedly will follow them.

Monetary gifting is a wise strategy, with tax benefits

Q. What, if any, are the tax advantages of giving monetary gifts to grandchildren each year? Also, is there a set amount that would have a tax advantage? — Lu A. Your grandchildren are lucky to have such a generous...

Domestic and International Fringe Benefits: How and When to Tax a Free Lunch