Specialty Taxes

Basis in Business

Basis is a business term used to identify the value of an individual or entity’s investment in an entrepreneurial endeavor.   It is customarily linked to taxation as this term is used by the Internal Revenue […]

Specialty Taxes

Basis for Tax Purposes

Basis is a term used in computing gains and losses on the disposition of an asset.  For any business owner or individual taxpayer it is important to understand what the Internal Revenue Service (IRS) is […]

Specialty Taxes

Estate Tax – The Basics

Even after death, your heirs may still have to file a separate tax return for you with the Internal Revenue Service.  If your accumulated wealth is greater than $5.25 Million, then your executor must file […]

Specialty Taxes

Fuel Tax Credit

The fuel tax credit is a federal refundable tax credit for taxes paid on fuel purchased for off road use.  Every gallon of fuel sold at the pump has an 18.3 cent tax assessed by […]