What Are Common Problems That the IRS Finds on Tax Returns?
Last Updated: 04/10/2010 15:38:55 • Penalties Involved in Cashing in a SEP IRA SEP, Simplified Employee Pension, is paid by the employer. If the employer has at least one employee, both he and the employee participate. One of the benefits over a traditional IRA is that the employer can put more into a SEP than an IRA. The employer may invest as much as 25 percent of the employee’s income or $49,000 for 2010, whichever is less. The amount increases to $54,500 for those over age 50. Last Updated: 04/10/2010 14:51:55 • Tax Deductions for Parents Last Updated: 04/10/2010 13:57:54 • The Advantages of Taxes Taxation is one of the essential functions of government, and a fact of life for taxpayers that requires compliance and planning. Income tax, property tax and sales tax all reduce how much money consumers have to save or spend. Business taxes place some of the burden on commercial enterprises, but whatever the source, tax dollars go toward some of the same purposes. Last Updated: 04/10/20
