The Pennsylvania Department of Revenue enforces the state's income tax. Pennsylvanians must pay personal income taxes on all taxable income, along with those who reside in other states but earn taxable income in the state. Estates, partnerships, trusts, limited liability companies and business trust......[Read More]

The federal child tax credit is an earned-income tax credit for people with children and child dependents. Filers can earn up to $1,000 per each qualifying child. There are certain qualifications and limits to receive the tax credit and refund.......[Read More]

Your mortgage insurance premiums pay for an insurance policy protecting the lender in case you fail to repay your mortgage; the insurance offers no direct benefit to you if you struggle with mortgage payments. However, it does make lenders more willing to loan to people with a small down payment, an......[Read More]

Pennsylvania imposes a realty transfer tax on the sale of real property. Local county or municipal governments can impose an additional realty transfer tax on the sale of real property, although there are a variety of exceptions.......[Read More]

Cigarette taxes vary from state to state. Some states apply them as a sales tax when cigarettes are purchased, while others levy gross receipt taxes. In some cases, both types of taxes are used. Politically, the argument for raising taxes on cigarettes relates to the associated increase in health co......[Read More]

In an ideal world for the small-business person, the owner's salary could be deducted from self-employment or corporate income. However, most, but not all, business structures don't allow for such a deduction.......[Read More]

The Internal Revenue Service (IRS) regulates the exchange of foreign currency within the United States. The U.S. Securities and Exchange Commission sets and enforces the rules that regulate the exchange of money from foreign entities on the New York Stock Exchange (NYSE). These regulatory agencies a......[Read More]

The federal government and the state governments have the right to impose a tax on the assets of someone who dies (a decedent). The federal estate tax is a tax on the taxable value of the estate and is the responsibility of the personal representative (an executor or an administrator). State taxes a......[Read More]

Labor union and public employee union members in the United States may be able to deduct their union dues as a miscellaneous deduction on their federal income tax form if they itemize their deductions. While union benefits may be taxed as income, union dues and other contributions or assessments to ......[Read More]

The Internal Revenue Service offers several tax deductions for homeowners. Interest paid for home improvement, energy efficiency, mortgage interest and home equity loans are all tax deductible. A homeowner who has had his home foreclosed still qualifies for tax deductions under the IRS regulations f......[Read More]

Any debt owed to the government or a federal agency is considered federal debt. If debt is not owed to the Internal Revenue Service, it is called non-tax federal debt. Non-tax debt includes student loans, fines or fees owed to the government, overpayments and non-payment of government-funded mortgag......[Read More]

Many individuals and businesses overpay their property taxes each year and don't know it. You can find out whether you have overpaid in your county and apply for a refund. Because different counties have different procedures, you have to contact your county assessor's office or visit the county webs......[Read More]

The AMT, or alternative minimum tax, is a separate parallel system of income taxation with a broader definition of taxable income and far fewer exclusions, deductions and exemptions, but a lower tax rate that tops out at 28 percent compared to 35 percent for the regular system. The AMT was introduce......[Read More]

Calculating the local real estate tax millage is typically the responsibility of elected county officials, sometimes by city or municipal elected officials. Since real estate taxes are the primary source of funding for public schools, local school districts often suggest millage rates to the taxing ......[Read More]

E-filing can make filling out your tax forms a lot more convenient.A young woman holding a pen, doing her taxes image by Christopher Meder from Fotolia.comFilling out legal documents can be a complicated process, especially since there are so many different forms to be filled out for.........[Read More]

If you forget to file your federal taxes on time, you might be subject to penalties. You can avoid trouble by paying your taxes and filing for an extended deadline with the IRS.......[Read More]

South Carolina limits sales taxes on cars to $300.Luxury Car sportscar from my luxury car series image by alma_sacra from Fotolia.comSouth Carolina imposes a state sales tax of 6 percent on most goods purchased or used within the state. Before opening, business owners must obtain a retail.........[Read More]

A death in the family is a major event that can have a significant impact on personal finances. When a person dies, his beneficiaries inherit his cash, real estate, stocks and other assets, which may include collectibles like coins and antiques. Assets a person leaves behind to others are subject to......[Read More]

Labor unions are governed by a different subsection of the Internal Revenue Code than 501c3 charitable organizations. The wrong kind of interaction between a union and a charity could spell trouble for the charity's tax-exempt status. However, this can be avoided by understanding the legal differenc......[Read More]

Boats are many things to many people. For most, they are fun, recreational vehicles on the water. For others, they are sports vehicles for fishing or skiing. Sometimes, they are all the above. What many people overlook is the possibility that their boat is also something else: a home. With your boat......[Read More]