Monthly Archives: May 2009

What is bartering and is it taxable?

Posted on May 11, 2009 by Camron Hoorfar

These days, websites like www.craigslist.org and many others allow people to connect with others in order to buy, sell, or trade goods and services.  Websites like these allow people from different parts of cities, states, or even the country.  Some … Continue reading →

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Alternative Motor Vehicle Credit

Posted on May 8, 2009 by Camron Hoorfar

Looking to buy a hybrid car?  Besides the great gas mileage and the benefits to the environment, there is one more benefit that you might have been unaware of:  a tax credit! The Energy Policy Act of 2005 replaced the … Continue reading →

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Recovery Rebate Credit

Posted on May 8, 2009 by Camron Hoorfar

Worried because you did not receive your economic stimulus payment last year?  Don’t worry, you still have time to get it. The recovery rebate credit is a one-time benefit for people who didn’t receive the full economic stimulus payment last … Continue reading →

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What sort of penalties does the IRS have?

Posted on May 7, 2009 by Camron Hoorfar

Besides criminal penalties (discussed in an earlier post), the IRS also has the power to issue and assess civil penalties on taxpayers for various reasons.  The following is a list of the most common and most used civil penalties by … Continue reading →

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Annual Tax Exempt Filing Requirement

Posted on May 7, 2009 by Camron Hoorfar

Now that April 15th has passed, most people are not thinking about taxes anymore or even dealing with the IRS.  However, tax exempt organizations are not out of the woods just yet.  Generally, all tax exempt organizations must file their … Continue reading →

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529 Tuition Programs

Posted on May 6, 2009 by Camron Hoorfar

Unknown to most people, a qualified Section 529 tuition program (better known as 529 Plans) is a type of tax exempt organization.  A Section 529 plan provides prepaid tuition or a method of an education savings program to provide pre-tax … Continue reading →

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Business Market Segmentation Audits

Posted on May 6, 2009 by Camron Hoorfar

Is your business currently undergoing an audit?  Are you feeling the IRS drawing closer and closer?  Well if this is you, or could ever be you in the future, there is something you should know:  The IRS audits each business … Continue reading →

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Can avoiding the IRS land me in prison?

Posted on May 5, 2009 by Camron Hoorfar

Many taxpayers refuse to believe that the IRS does not have the power to send taxpayers to jail for violating the United States’ tax laws.  Nothing could be further from the truth. The following is a list of criminal actions … Continue reading →

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Jackson County Missouri Property Tax Assessments

Posted on May 5, 2009 by Camron Hoorfar

A hot issue this year is the increase in the taxable market value of the property of Jackson County, Missouri residents despite the depressed economy.  While the value of the dollar continues to drop, prices around the country are increasing, … Continue reading →

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Public Charity vs. Private Foundation

Posted on May 4, 2009 by Camron Hoorfar

Many people are anxious to create a nonprofit organization in order to help their community and the overall general public.  But, knowing how to help people, and knowing how to create a nonprofit organization in order to help people, are … Continue reading →

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