What If? Tax Questions, Pt. 2

Now, for those "What if . . .?" Tax Questions we mentioned. There are so many events that can affect your tax calculations. So check and see if any of these scenarios apply to you.

Job-Related Tax Questions

Debt-Related Tax Questions

Tax-Related Tax Questions

Special Tax Info for Military

Special IRS information for members of the U.S. Armed Services

Tax Information for Members of the U.S. Armed Forces

IRS Publication 3, Armed Forces' Tax Guide, which covers special tax situations of active members of the U.S. Armed Forces.

A special e-mail address for members of the U.S. Armed Forces, their spouses, authorized agents or representatives, which can be used to notify the IRS about someone service in a combat zone. Why would you notify the IRS that someone is in a combat zone? For example, the IRS will suspend compliance actions, such as audits or enforced collections, until 180 days after the taxpayer has left the combat zone. If you should use this special e-mail address, DO NOT include any social security numbers in e-mail.

IRS Help with Tax Questions

Free Tax Help for service members and their families.

Ever thought about having your own business? Take a look at the tax deductions available to small businesses. The primary tax advantage of having your own business is that individuals pay taxes first, on 100% of their income (generally), and pay their expenses out of whatever's left over. With our current tax rates hovering around 50% (when you consider federal, state and local taxes), that means that in order to have $1 to spend on your own epxenses, you have to make $2, because the tax man gets the first $1. But businesses pay their expenses first, and then pay taxes only on what's left.

Return to What If? Tax Questions

Return to top of What If? Tax Questions, pt.2

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