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see: http://www.TaxEsq.com

America’s lowest-paid workers will get a $2.10 raise, if the keep their jobs, by Congress mandating an increase in the federal minimum wage. Despite the well-known harmful loss in employment by teens and the lowest skilled workers,President Bush was expected to sign...

The Internal Revenue Service announced on April 26, 2007, tax relief for New Jersey and New York taxpayers in the Presidential Disaster Area that was struck by severe storms and flooding April 14-18, 2007. The disaster area consists of the following counties: Bergen,...

The Christian Science Monitor reports that “[s]lightly over half of all Americans – 52.6 percent – now receive significant income from government programs, according to an analysis by Gary Shilling, an economist in Springfield, N.J. That’s up from 49.4 percent in 2000...

The clock is ticking down to the tax filing deadline. The good news: There may still be an opportunity to save on your tax bill. If you qualify, you can make a deductible contribution to a traditional IRA right up until the April 17, 2007 filing date and still benefit...

College tuition deduction. You might be able to deduct qualified higher education expenses of up to $2,000 or $4,000 (depending on your income) paid on behalf of yourself, your spouse, or a dependent. The write-off is taken as an adjustment to income, which means...

If your C corporation is thinking about electing S corp status, make sure you plan ahead or you may wind up owing a substantial tax on unrealized profits for the 10 years following the conversion. The built-in gains (BIG) tax, which can be quite onerous, equals the...

The US Supreme Court denied converting a Bankruptcy when a man hid an Asset Protection Trust in his Bankruptcy. Be careful when trying asset protection. Click Here for the full article about the Marrama case. see: http://www.TaxEsq.com

How much of a tax break or hike would you see under the proposal? Figure out the difference between the total cost of your healthcare plan and the federal cap on your health tax benefit ($7,500 for single coverage; $15,000 for family coverage). Then multiply that...

Democrats push for more IRS Audits! January 17, 2007 -House Democrats are holding hearings on whether federal tax collectors are too quick to close audits of large companies, potentially leaving billions of dollars in taxes uncollected. Reps. Richard Neal, D-Mass.,...