QuickTime Taxes - Income Tax preparation

Quicktime Taxes

Income Tax Preparation Service

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Quicktime provides income tax preparation and electronic filing.  Audit assistance and free review of income tax returns are also part of Quicktime's commitment to service. Additional fees may apply.


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QuickTime Taxes - Income Tax preparation

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Archive for March, 2012

Question by cindymarshall: simple explanation for “marginal tax rate” please :)?
what do you mean by “marginal tax rate”?
simple answers with examples are highly appreciated!
and please no long and boring explanation..
economics 🙂

Best answer:

Answer by rundown73
The marginal tax rate is the percentage of taxes you pay on your last dollar earned.
Your tax rate increases as you earn more. So for the first $ 10,000 of income, maybe you pay no taxes. Then maybe you pay 5% of your income between $ 10,000 and $ 20,000.
So, a person who makes $ 15,000 in a year pays $ 0 on the first $ 10,000 and 5% on the next $ 5,000. That’s $ 250. The “effective tax rate” is $ 250/$ 15,0000, or 1.7%. But the “marginal tax rate” is 5%, because if the person makes one more dollar of income, they owe $ .05.

Add your own answer in the comments!

Bostonpost Property Manager—Ahead of the Curve for TRACS 202D

Cleveland, OH (PRWEB) February 16, 2012

The latest compliance changes to the Tenant Rental Assistance Certification System (TRACS) 202D could be mandatory as early as October 31, 2012. MRI Software is ready and waiting with Bostonpost Property Manager 9.2.

202D is designed to streamline the HAP voucher process and make it paperless.

According to Jed Graef, a product manager for compliance at Bostonpost, “202D is a huge win for our customers. With the tools that Property Manager will provide, this could save countless hours in reconciliation work.”

Graef has been intimately involved in the creation of the TRACS 202D Industry Specification as the chair of the certification working group. At HUD’s request, Graef drafted the formal specification documents that TRACS and software vendors will use to ensure compliance.

Bostonpost Property Manager is MRI’s flagship affordable housing product and enables clients to manage properties developed with financing from Low Income Housing Tax Credits or subsidized by HUD, USDA and other Public Housing programs. The next release of Bostonpost Property Manager will fully support TRACS 202D functionality. To ensure an on-time delivery, Property Manager 9.1 already contains the complete infrastructure for 202D. Though not yet visible to users, the changes are ready and waiting for the compliance change.

About MRI Software

MRI offers business management software solutions to the global property management and investment industries. As a leading provider of real estate enterprise software applications and hosted solutions, MRI serves the global multifamily and commercial property industries, helping them improve their bottom line and maximize their returns on their diverse business portfolios. MRI leverages its 40 years in business to develop long-term successful relationships with its clients. For more information, please visit http://www.mrisoftware.com.


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Question by KiDfrmPhiLLy: Applied for community college; now they’re asking for my parent’s “tax returns”?
I applied to community college and stuff, got my classes set up, now I just need to get my financial aid. The thing is, I thought I was finished but now they’re throwing this Verification Form on me. I’m almost done with it, but I’m stuck at this last thing . .

I have to give them a signed copy of my parents” tax return. More specifically, “Parent’s tax returns include the 2009 IRS Form 1040, 1040A, 1040EZ, and W2’s.and schedules or a tax return from Puerto Rico or a foreign income tax return.”

Me, my brother, and parents could not figure out what they were asking for. We went through the tax stuff and found a client copy of my parents’ tax and income and stuff, but I’m not sure what I should be sending it. We made an additional copy of the “Tax Return” page and my parent’s signed at the bottom where it says “Sign Here.” Should this be enough or should I make a copy of the entire booklet? And an additional note, my dad wasn’t in poccession of a W2 or anything like that, he only has a 1040.

Best answer:

Answer by randi
At my school the 1040 is sufficient. If you aren’t sure though, make copies of everything and go to your school’s financial aid department and ask what they need.

Know better? Leave your own answer in the comments!

Tax Resolution Services’ Michael Rozbruch Helps to Shape the Present and Future of the Tax Debt Resolution Industry

Tax Resolution Services, Co.®

Encino, CA (PRWEB) February 20, 2012

As the head of one of the nation’s most well respected tax debt resolution company, Michael Rozbruch, CEO and founder of Tax Resolution Services, Co., will attend the first ever meeting of the National Association of Tax Debt Resolution Companies with some lofty but attainable and important goals in mind. The stated intent of the conference is to inform members of the tax debt resolution industry of the mounting challenges facing such companies in addition to public policy options that can help give tax resolution companies a united public voice, in addition to legitimizing an industry that has been subject to significant scrutiny in recent years as a result of a handful of fraudulent companies – many of which have since gone out of business. Industry professionals coming under the umbrella of the National Association of Tax Debt Resolution Companies aim to draft and finalize state and federal legislation geared toward providing the industry with the transparency necessary to ensure that taxpaying consumers will have comfort knowing that they are dealing with legitimate, aboveboard companies.

“This conference is a long time coming – it’s important to separate the contenders from the pretenders primarily for the sake of the taxpayers,” commented Rozbruch, “but also for the sake of the tax debt resolution companies that are doing legitimate business and helping consumers to navigate the increasingly complex waters of the IRS tax code.”

To that end, Rozbruch has helped the cause by launching his own coalition, Tax Problem Resolution Services Coalition (TPRSC). TPRSC took shape in 2010 in response to unnecessarily harsh rules put forth by the Federal Trade Commission that would have made it difficult for legitimate tax debt resolution companies to continue doing business without putting them at significant financial risk. The coalition has already laid the groundwork for new statewide legislation in California, and Rozbruch has high expectations that this conference will set a foundation for federal legislation to clear the air and lend much-needed public legitimacy to the tax debt resolution industry. “I’m looking forward to getting a lot of good work done in Washington,” he said. “This meeting can really set the tone for positive progress in the industry.”

Rozbruch welcomes those who owe the IRS but simply cannot, at the present time, afford to pay them in full and those under audit to contact his company for help via phone at 866-477-7762 or online at http://www.taxresolution.com for a risk-free consultation. Those interested in attending the National Association of Tax Debt Resolution Companies Conference May 20 and 21 can register online at http://conta.cc/vZWnh6.

To learn more about the Tax Problem Resolution Services Coalition, visit http://www.taxproblemresolutionservicescoalition.com.

Tax Resolution Services, Co., is dedicated to providing affordable solutions to businesses and individuals alike who find themselves in trouble with the IRS. Their tax attorneys, CPAs, and tax relief professionals have successfully resolved thousands of cases since 1998 and are committed to making sure our clients’ experiences exceed their expectations. For more information or to receive a FREE tax relief consultation, visit TaxResolution.com or call 888-851-5894.

The Tax Problem Resolution Services Coalition (TPRSC) represents the efforts of a broad spectrum of the industry located throughout the United States. Its mission is to promote and ensure the protection of taxpayers from unfair and deceptive advertising claims by unscrupulous delinquent tax debt representation providers. The coalition welcomes additional members that support this mission. The coalition’s work will be reported through its website at http://www.taxproblemresolutionservicescoalition.com and through its newsletter.

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Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

Question by deepak k: waht will be tax rate “from sale of ancestral land”?
My inquiry pertains to India only. The answer must relate to Current Indian Tax Laws.
The land is ancestral property and belongs to me. I want to sale it and expect decent profit on this sale. I intend to reinvest the money in the purchase of new land. I have not any owned residential house.

I want to know about the current capital gains tax rates.
I want to know about where I can invest my capital gain (together with interest rates and lock-in periods) to enable me to save on capital gains tax.

Best answer:

Answer by Reddy
If it is a agriculture land and it is 8 kms away from the boundary of a Municipality or a Corporation, they it is exempt from tax. If the land is below 8 kms of a Municipality or a Corporation boundary, then it is taxable. In this case if you buy another agriculture land, then you can escape from Capital Gains.

If the said land is not agriculture land and if it is a house plot, then you have to pay long term capital gains @ 20% on the index value.

For more details google search “long term capital gains India”. For your information I am giving you a link.



Give your answer to this question below!

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