Tax deduction?

On December 21, 2011, in Tax Deductions, by Stephen

Hi,
Am currently renting an apartment in US.Am I eligible to get tax deductions/refund on the rent money that am paying?If so what % of it is refunded?Thanks a lot in advance.

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IRS Federal Tax – They Don't Write Them, Congress Does and You …

On December 14, 2011, in Tax Refund, by

The IRS federal tax laws are just collected by the IRS. It is the US congress, and yes, both houses, that write all the tax codes. These are the people you elected to office. They themselves are not only responsible for all the taxes that every American has to pay, but they have to pay themselves.

Because of different problems and concerns from the citizens of America, a few changes have occurred that are beneficial for the masses. One of them is the availability of filing your tax return electronically. This is not only free with the IRS but a majority of the tax preparation services across the nation. This was not really done out of the kindness of their hearts. The motivating factor was to ease the burden of reviewing all the paper tax returns.

There is another benefit of filing your federal tax return by electronic means and that is you can have your tax return check within 10 days. This can be accomplished by placing the routing number of your bank account on your tax return. This account can be either a checking account or a savings account.

One precaution should be taken if filing by electronic means and that is to make sure you print out a hard copy. In addition, if you use a public computer, the data you entered needs to be erased. If you do not know how to do this, ask for assistance. If you forget to do this, your social security number along with all your dependent’s will be available to whoever uses that computer. Protect yourself when filing your IRS federal tax return on a public computer. Your identity could be stolen if you don’t.

Of course, the above is not legal or accounting advice – it is for informational purposes only. Before making any decisions regarding legal or tax matters, it is vital that you consult a licensed professional lawyer or tax accountant.

IRS Federal Tax – They Don't Write Them, Congress Does and You …

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Claim Back Your US Withholding Tax on Casino and Lottery Winnings

On November 24, 2011, in Tax Refund, by

Millions travel each and every year to United States gambling hot spots. Although Las Vegas and Atlantic City are the gambler traveling hot spots in the US, many other states offer very popular Native American Casinos. Casinos payout millions of dollars each year to thousands of lucky winners. It may not seem like it to most, but someone has to win big, and someone does. Hopefully it will be you on your next trip to Las Vegas. If your one of the lucky winners at the casino, you may be in for a shock. If you are from a country like Canada, you may not expect to be taxed on your winnings. In the United States you will be taxed a 30% withholding tax. If you win a million dollars the casino will hold 30% of your winnings. Casinos are required by law to withhold the 30% withholding tax.

As a non-resident you can claim back this withholding tax. Depending on your country of origin, you can file to have some or all of the withholding Tax refunded to you. If you have won, contact a professional casino refund service to help you get some of your winnings back. A professional service will be familiar with not only the forms to be filed, but the tax laws of both the United States and your country of origin. They will help maximize the amount that will be refunded to you. Canada has a tax treaty with the US, so Canadians will most likely not get a full refund of the withholding tax, but a good professional service will help you get the maximum money back. If you are from any of the followings countries: Czech Republic, Denmark, Finland, France, Germany, Hungary, Ireland, Japan, Italy Latvia, Netherlands, Russian Federation, Slovak Republic, Slovenia, South Africa, Spain, Sweden, Tunisia, Turkey, Ukraine, Austria, and the United Kingdom, you will happily receive a full refund.

In addition to casino winnings, you will also be taxed the same on any state lottery winnings if you buy a ticket. If you gamble professionally, or just an amateur who have joined the growing masses playing poker tournaments and win on US soil, you will also be subject to the withholding Tax.

Claim Back Your US Withholding Tax on Casino and Lottery Winnings

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