Tax Exemptions

When a person owns a property, he must pay property taxes. These taxes are separate from school or village taxes. Property taxes also might be called land taxes. If you wish to stop paying property taxes or can't make payments, some options exist. more »

A nonprofit organization, though it receives special tax treatment and is subject to unique rules and regulations, starts off much like any other corporation. In other words, most need startup capital, a business plan, bylaws and a board of directors, though some exist as legal trusts or similar associations. And, if it is going to be... more »

Section 501(c) of the Internal Revenue Code provides full tax-exempt status to certain qualifying religious, educational and charitable organizations, as well as to those who conduct such other beneficial activities the government deems beneficial and would like to encourage. In all, some 28 types of organizations are exempted under... more »

Most bonds are not tax free. Some, such as Zero Coupon bonds, even force an investor to pay taxes on money they haven't received yet, based on an annualized yield that isn't realized until maturity. Corporate bonds aren't tax free, either. In fact, the only bonds that receive special tax considerations are the ones that are issued by... more »

Employers are responsible for withholding social security, medicare and income tax from employee checks. The goal is to accurately estimate the employee's total liability and divide it evenly over each paycheck. This is done based on information provided by the employee on Internal Revenue Service Form W-4. At the end of the year, the... more »