Sales Tax Audit Survival Tips For Your Glass Trade

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The IRS has set many tax deductions and benefits in place for individuals. Unfortunately, some taxpayers who bring home a great deal of income can see these benefits phased out as their income increases.

If you add a C-Corporation as part of your business structure you can help to eliminate your taxable income and therefore be qualified for those types of deductions that your current income as well high. Remember, a C-Corporation is some individual taxpayer.

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If a married couple wishes for the tax benefits within the EIC, they should file their taxes mutually. Separated couples cannot both claim their children for the EIC, so they will need to decide who'll claim them. You can claim the earned income credit on any 1040 tax make.

People hate paying duty. Tax avoidance strategies are entirely legal and may be taken advantage of. Tax evasion, however, isn't. Make sure you know where the fine lines are.