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Topic: Tax year

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	Fiscal year - Wikipedia, the free encyclopedia
		Often the fiscal or tax year is specifically established not to match the calendar year so that accounting year-end work does not coincide with periods of high activity (e.g., the Christmas shopping rush for retailers -- see below) or with holiday periods when employees may prefer to take vacation.
		So the U.S. government's fiscal year begins on October 1 of the previous calendar year and ends on September 30 of the year with which it is numbered.
		In Canada, the United Kingdom, India and Hong Kong, the government's financial year runs from April 1 to March 31, and corporation tax is charged by reference to that period.
	en.wikipedia.org /wiki/Tax_year (601 words)

	Tax Years
		Fiscal year - A fiscal tax year is 12 consecutive months ending on the last day of any month except December. A 52-53-week tax year is a fiscal tax year that varies from 52 to 53 weeks but does not have to end on the last day of a month.
		Your present tax year does not qualify as a fiscal year.
		You are required to use a calendar year by a provision of the Internal Revenue Code or the Income Tax Regulations.
	www.irs.gov /businesses/small/article/0,,id=98673,00.html (260 words)

	Business tax tip: picking a partnerhsip tax year.
		As this tax tip explains, most partnerships must use what is referred to as "a required tax year." This involves determining whether you have a majority interest or principal partners.
		The partner's tax year that results in the lowest number in step (3) above is the tax year that must be used by the partnership.
		According to the IRS, "If more than one year qualifies as the tax year that has the least aggregate deferral of income, the partnership can choose any year that qualifies." However, if one of the qualifying years is the partnership's existing tax year, the partnership must continue to use that tax year.
	www.bankrate.com /brm/itax/Edit/tips/Biz_stories/19991007.asp (1336 words)

	Year End Tax Planning
		The most common year-end tax planning strategies are those that defer income from the current year to later years and those that move deductions from later years into the current year.
		Doing so has tax benefits in that it shifts income from you to your child or grandchild, who normally is in a lower tax bracket or may avoid tax entirely due to the standard deduction.
		There can also be payroll tax savings since wages paid by sole proprietors to their children under the age of 18 are exempt from both social security and unemployment taxes.
	www.sagerhaines.com /yearend.htm (2558 words)

	Year-End Tax Report (Site not responding. Last check: 2007-09-20)
		In addition, tax laws passed in 2001 and 2003 contained provisions affecting 2004, so there are changes to be aware of as you do your year-end tax planning.
		As long as children are fourteen or older the year they sell an investment, they’ll most likely benefit from the low capital gains rate of 5% through 2007 and 0% during 2008.
		The 2003 Tax Act, which cut the maximum tax rate on corporate dividends and long-term capital gains to 15%, is scheduled to sunset at the end of 2008.
	www.sgcompany.com /tax.report.html (2539 words)

	STRATEGIES: YEAR-END TAX PLANNING
		For almost 100 years, dueling politicians have used a weapon of fiscal (tax) policy to reward their constituents, encourage or discourage certain behaviors (tax incentives and penalties), and spread the wealth (progressive rates and now many formulas, too).
		Traditional IRA contributions (limited to $3,000 per year) are tax deductible (up to certain AGI levels), but the corresponding bad news is that distributions in retirement are taxable at the higher ordinary income tax rates (up to 35 percent).
		A first step in year-end tax planning for a trader is to assess whether or not the trader qualifies for trader tax status for all or part of the current tax year.
	www.greencompany.com /EducationCenter/GTTRecStratYearEndPlanning.shtml (11029 words)

	USATODAY.com - Year-end tax-saving strategies (Site not responding. Last check: 2007-09-20)
		Tax laws are complicated and each case is unique.
		Of course, if you've had a bad year you have no profits or will be in a low tax bracket reverse this and accelerate income and delay expenses.
		The research tax credit is a dollar-for-dollar tax credit — preferable to a deduction for businesses that have been engaged in research or development.
	www.usatoday.com /money/smallbusiness/columnist/abrams/2005-12-09-tax-strategies_x.htm (699 words)

	Dorsey & Whitney LLP: Publications: Legal Updates: Year End Tax Planning
		A key requirement for the lower tax rate on dividends is that the shareholder must own the dividend-paying stock for more than 60 days during the 121-day period beginning 60 days before the stock’s ex-dividend date.
		While deferring income is normally a sound tax strategy, here it results in bunching income into 2005, which may push you into a higher tax bracket or have a detrimental impact on other tax deductions you normally claim.
		There are also payroll tax savings since wages paid by sole proprietors to their children age 17 and younger are exempt from both social security and unemployment taxes.
	www.dorsey.com /publications/legal_detail.aspx?FlashNavID=pubs_legal&pubid=176817403 (2556 words)

	Fool.com: Year-End Tax Planning Tips, Part I
		While the tax rate on ordinary income can reach as high as 39.6%, your maximum capital gains rate will only be 20% (and some might pay a capital gains rate as low as 10%).
		If you have a mutual fund (that you've held for longer than one year) that you expect will pay out a substantial amount of regular dividends (which are taxed at your normal tax rate), you might want to sell those shares immediately prior to the payout date.
		Prepay your state and/or local taxes: If you believe that your tax bracket next year will be no higher than this year, and you won't be bothered by any alternative minimum tax issues, consider making those state/local tax payments before the end of this year.
	www.fool.com /taxes/2000/taxes001103.htm (822 words)

	State Income Tax Rates Set for 1998 Tax Year (Site not responding. Last check: 2007-09-20)
		Californians whose taxable income is unchanged from last year will pay lower state income taxes when they file tax returns next year.
		Indexing takes the rate of inflation into account and adjusts tax rates and certain credits to ensure additional taxes are not paid from year to year due solely to inflation.
		Due to tax law changes, the dependent exemption credit increases from $68 to $253.
	www.ftb.ca.gov /aboutftb/press/Archive/1998/090898.html (307 words)

	Tax Law Changes for Individuals
		A child who was born or died during the year is considered to have lived with you for the entire year if your home was the child's home for the entire time he or she was alive during the year.
		For purposes of these tax benefits, a child must be under the age of 19 at the end of the year, or under age 24 at the end of 2005 if a student, or any age if permanently and totally disabled.
		The tax credit for hybrid vehicles applies for vehicles purchased on or after January 1, 2006, and could be as much as $3,400 for those who purchase the most fuel-efficient vehicles.
	www.irs.gov /formspubs/article/0,,id=109876,00.html (3432 words)

	New Year 2004 Tax Letter (Site not responding. Last check: 2007-09-20)
		The following is a summary of the most important tax developments that have occurred in the past three months that may affect you, your family, your investments, and your livelihood.
		IRS amended the tax shelter rules to restrict the scope of the disclosure rules for confidential transactions.
		Please note that tax laws may have changed since the date of this tax letter and it may not be completely up-to-date.
	www.fed-tax.com /taxletters/taxletter-2004-01.html (1546 words)

	ABC News: Year-End Tax Tips
		If you pay your property taxes directly as opposed to having your lender pay them through an escrow account, contact your county or municipal tax office to determine if you can pay part or all of your 2006 tax payment early to take advantage of the tax benefits in 2005.
		However, if you think you might have to pay the alternative minimum tax, you will not be able to benefit from this early payment, as the alternative minimum tax does not allow for tax breaks on real estate and personal property taxes, nor state and local income taxes.
		Although your contributions are not tax deductible, the money you invest grows tax-free, and all withdrawals from the account are tax-free as well, provided you use them for qualified education expenses.
	abcnews.go.com /Business/MellodyHobson/story?id=1446421 (963 words)

	2002 Year End Tax Planning (Site not responding. Last check: 2007-09-20)
		Unless the relative is a child under age 19 at the end of the year or a full-time student under age 24 at the end of the year, the relative cannot have more than the personal exemption amount ($3,000) in taxable income.
		Since tax rates for individuals are being reduced, you might want to elect S corporation status if your company is taxed at a high tax rate.
		Unlike C corporations, where income is effectively taxed twice (once on the corporate level and once to the individual), there is no corporate level tax on S corporation shareholders.
	winke.com /wts/wts./2002yetp.htm (4091 words)

	Colorado Income Tax - Part-Year Residents & Nonresidents
		The tax on the total income is then multiplied by this percentage to determine the tax on only the Colorado income.
		The tax from the tax table entered on line 35 will be multiplied by this percentage to determine the actual tax that is due (line 36).
		A credit for taxes paid to another state may be claimed if the income is also taxed by the state in which the income was earned.
	www.revenue.state.co.us /fyi/html/income06.html (2625 words)

	Year-End Tax Planning (Tax Guide: Personal Finance) \| SmartMoney.com
		This time of year is also when employees must specify how much salary they will contribute to their medical and child-care flexible spending accounts.
		The tax rules allow you to say an activity is a for-profit business as long as it runs in the fl at least three out of every five years (two out of seven for horse racing, breeding, showing or training).
		Taxpayers in the "AMT mode" may find the time-honored advice about prepaying state and local taxes before year's end will not actually reduce their federal income tax bills at all because these taxes are totally nondeductible for AMT purposes.
	www.smartmoney.com /tax/advice/index.cfm?story=yearend (1772 words)

	State Income Tax Rates Set For 2000 Tax Year (Site not responding. Last check: 2007-09-20)
		The tax season is still four months away, but it’s not too early to start thinking about your state income taxes.
		Indexing takes the inflation rate into account and adjusts tax brackets, filing requirement thresholds, the standard deduction, and certain credits to ensure Californians do not pay additional taxes from year to year due solely to inflation.
		The tax threshold, the amount of income reached where a tax liability is incurred, has risen to $9,286 of adjusted gross income for single taxpayers and $18,572 for married, surviving spouse and head of household taxpayers.
	www.ftb.ca.gov /aboutftb/press/Archive/2000/00_42.html (323 words)

	Year-End Tax Planning Strategies
		Year-end tax planning strategies are one of the best ways to build client relationships because these strategies have deadlines.
		These are tax moves that must be made by year-end so it forces advisors to communicate with their clients and act now to put these ideas into place.
		Slott is a frequent contributor to The CPA Journal, The Practical Accountant, The Tax Adviser and Trusts and Estates, and is a past editor of the estates and trusts section of The CPA Journal.
	www.fpanet.org /member/meetings/online_education/11_17_2004.cfm (350 words)

	What's New for Tax Year 2005 (Site not responding. Last check: 2007-09-20)
		Once you are subject to the e-file mandate, you must continue to e-file all of your clients' authorized personal income tax returns in all future years regardless of the number of returns filed.
		This form will be used by tax preparers, subject to the e-file mandate, to document reasonable cause to not e-file a return.
		For Tax Year 2005, the IRS will accept the e-filing of certain imperfect returns (involving dependent’s Social Security Number and Name Control, etc.) on second or subsequent transmissions.
	www.tax.state.ny.us /elf/eronew.htm (1195 words)

	CCH Business Owner's Toolkit \| Tax Year and Accounting Methods
		The consequences of this decision affect your taxes.
		You can't deduct the purchase price of the car, but you will be able to deduct a portion of the cost each year as depreciation.
		While some of these decisions may seem rather technical, they can have a significant effect on your tax situation and you should have a basic understanding of the issues at stake.
	www.toolkit.cch.com /text/P07_2201.asp (306 words)

	Year-End Tax Tips [Fool.com: Motley Fool Take] December 12, 2005
		If you've held the shares for more than a year, you'll avoid paying tax on the appreciation, and you'll still be able to deduct the full value of the stock.
		If you're looking at substantial capital gains on which you'll be taxed in the coming year, you might be able to sell some stock for a loss, to offset some of the gain.
		If you believe that your tax bracket next year will be no higher than this year, you're itemizing your deductions, and you won't be bothered by any alternative minimum tax issues, consider making your state and/or local tax payments before the end of this year.
	www.fool.com /News/mft/2005/mft05121203.htm?ref=foolwatch (543 words)

	Calendar Year (Site not responding. Last check: 2007-09-20)
		The one-year period that begins on Jan 1 and ends on Dec 31, based on the commonly used Gregorian calendar.
		For individual and corporate taxation purposes, a calendar year will generally comprise all of the year's financial information used to calculate income tax payable.
		Most individuals and many companies use the calendar year as their fiscal year, or the one-year period on which their payable taxes are calculated.
	www.investopedia.com /terms/c/calendaryear.asp (199 words)

	Oklahoma Individual Income Tax Forms
		This page is updated with the next year income tax forms on or before December 1st each year.
		If you choose to complete your form on your computer, be sure to print out an additional copy for your files before closing the PDF as your data will not be saved.
		If you would like to download past year tax forms, please click here.
	www.tax.ok.gov /itformcrt1.html (363 words)

	Year-End Tax Forms - Prudential Financial (Site not responding. Last check: 2007-09-20)
		You must report and pay taxes on these distributions even if they were automatically reinvested to purchase additional fund shares.
		The "columns" noted in the following tax form sections correspond to the column headings on the forms that Prudential sends to you.
		Employer contributions to a SEP can be made up to the due date of the employer's tax return (including extensions).
	www.prudential.com /productsAndServices/0,1474,intPageID=4118&blnPrinterFriendly=0,00.html (575 words)

	Amazon.com: Quicken TurboTax (Tax Year 2000): Software (Site not responding. Last check: 2007-09-20)
		This version is revised and updated, and incorporates every tax-law change to guide you through your taxes and help you take advantage of more deductions.
		Bring over information from last year's tax return, so that you don't have to reenter your data.
		Receive a tax report in the form of a customized, printable action plan to which you can refer all year to save you money on next year's taxes.
	www.amazon.com /exec/obidos/tg/detail/-/B000050GEU?v=glance (849 words)

	Tax Facts for the 2005 Tax Year
		Read our Ask a CPA feature for general information on your taxes and finances.
		Each is 30% of net tax, with maximum credit of $346
		Amounts paid to a voluntary program in lieu of the state programs are not deductible, but may be creditable on Form 540 with multiple employees.)
	www.skocpa.com /tax-faq.htm (238 words)

	Current Year Tax Forms
		Links to prior year's forms and instructions are located at the bottom of the main Forms and Instructions page for each tax type.
		How to apply for a conditional commitment to release state tax lien on specific property
		How to apply for a conditional commitment to subordinate state tax lien to specific property
	www.taxes.state.mn.us /taxes/current_forms.shtml (464 words)

	Virginia Department of Taxation
		What's New / FAQs / Where to File / Tax Policy Library / Download Forms / Press Releases
		Schedule OSC - Credit for tax paid to another state
		Order current year forms to be mailed to you via US Mail.
	www.tax.virginia.gov /site.cfm?alias=indforms&selYear=2005 (193 words)

	Past Year Income Tax Forms of the OTC
		Past Year Income Tax Forms of the OTC
		To download one of the forms below, select the year you need in the far left column for that form.
		If you are looking for tax year 2004 forms, please click here.
	www.oktax.state.ok.us /archfms.html (144 words)

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