Tax Law Archives - The Legal Minds

Tax Preparers Gearing Up for Affordable Care Act Tax Law Changes

Posted on October 30, 2011 by Andrea Xavier

Professional tax preparers are busy learning the new laws set in place for January 2014 for the Affordable Care Act. The published updates are filled with technical words and complex explanations and might confuse the average tax payer. Having a trusted tax preparer on your side will make the compliance forms that much easier to fill out. As a tax payer,…

Estate Tax Law Changes You Should Know About

Posted on September 10, 2011 by Andrea Xavier

As part of the broad extension of the Bush tax cuts that the President signed in December, laws affecting estate planning were also extended and expanded through the end of 2012. Here’s a quick overview of the primary changes. 1. Increased Exemption Levels: The federal exemption level for estate taxes rose to $5 million per person and important changes were…

Who Knew Bartering Is Taxable Income? Tax Law Regarding Bartering

Posted on August 15, 2011 by Andrea Xavier

Some small businesses still use the oldest form of commerce, bartering or the exchanges of goods and services. The IRS wants all taxpayers of small business, or any business for that matter, to make sure they know that “the fair market value of property or services received through bartering is taxable income”. According to Income Tax Law, bartering is taxable…

What Kind Of IRS Tax Law Attorney Do You Need?

Posted on July 13, 2011 by Andrea Xavier

OK, you have come to the conclusion that you need an IRS tax law attorney to help with your current tax problems or for tax advice, but there is still one question that needs answering: what kind of tax law attorney specifically do you need? Not only do tax attorneys come in different shapes and sizes, they also come with a range of…

A Brief Guide to the Terms Used in Tax Law

Posted on June 11, 2011 by Andrea Xavier

The history of tax is very ancient in nature, dating back to the times when the children of Israel were serving as slaves under Egyptian domination. Coming to the contemporary scenario, when the general rule applies, tax could be deemed as the source that is best exploited by the government. Needless to mention, it is imposed on earning individuals as…

Firms That Can Help With Your Tax Problems

Posted on June 10, 2011 by Andrea Xavier

Tax firms help you from getting into trouble with the law by getting you out of tax debts and by helping you cut down from heavy amounts of tax penalties. Most Americans have not been paying taxes ever since the global meltdown happened. As a result, many of them are now facing serious tax charges in the courts. Only lawyers,…

Get Tax Lien Certificates at Auction in Your Budget

Posted on May 9, 2011 by Andrea Xavier

First and foremost, remember that buying tax lien certificates doesn’t give you any rights to the property. You are essentially purchasing back taxes and the potential interest on them from the government. You have no rights to the property unless the owner defaults on payments. Even then the process of turning over the real estate can be lengthy. While there are…

Tax Sale May Be Option for Inexpensive Home

Posted on April 7, 2011 by Andrea Xavier

It’s long been an American dream to own one’s very own home and a tax sale may be a way to achieve this. Several years ago, real estate prices kept climbing higher than most people had thought possible. Homeowners watched their property values climb by tens of thousands nearly overnight. House prices were becoming more and more difficult to qualify for…

Why Are Tax Lien Properties For Sale?

Posted on March 3, 2011 by Andrea Xavier

Many individuals wonder about all the tax lien properties for sale. They often wonder how and why these dwellings have come up on the market. When they see these available listings, investors and potential homebuyers wonder if this is a wise way to purchase real estate. Because of the housing bubble’s burst and difficult economic circumstances being suffered across the nation,…

5 Reasons You Need Tax Representation

Posted on February 2, 2011 by Andrea Xavier

Tax representation isn’t only necessary if the IRS is trying to knock down your door. There are many instances when an attorney can greatly benefit you and help you through a difficult or complex situation. From audits to international business to complex deductions, finding quality tax representation can help save you money and in some cases, even keep you out…