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April 2013 Archives

Self-help tax tips for the Minneapolis self-employed

Self-employment can be a great thing. You get to set your own schedule, be your own boss and make all management decisions that need to be made. It can be great, but ask almost any self-employed individual if it involves a lot of responsibility and they'll quickly respond with a "yes." Taxes are one of those responsibilities that can cause more than a headache.

Federal tax picture remains blurry in wake of budget proposal

What kind of tax debt will I be liable for over the next five years? The question is not easily answered right now as the spending debate in Congress rages on. Another attempt at a solution was recently proposed when President Barack Obama submitted his plan for a budget. The plan included a mix of tax hikes, planned revenue growth and some cuts.

Tax lien forces Warwick to say a little prayer, files bankruptcy

Responding to a tax notice is a decision that shouldn't be made lightly. Why? Tax liens can have an effect on a taxpayer's future, affecting credit, homes sales and overall finances. Dionne Warwick said that a million-dollar tax lien was a prominent factor in her recent decision to file for bankruptcy protection.

Top 5 red flags for IRS income tax audits

Tax day is just a week away, and many Minnesotans are scrambling to get their income tax returns prepared and filed in advance of the April 15 deadline. Like most people, their goal is to minimize the amount of taxes they have to pay - or, even better, to get a substantial income tax refund.

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