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This page contains a number of links primarily to tax-related web sites although some non-tax sites are included as well. Suggestions on making this page truly useful for yourself are:
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Internal Revenue Service Links
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Links to State Tax Web Sites
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Where's My Refund - California
The Franchise Tax Board (FTB) announced that California taxpayers who are expecting a refund can use the “check your refund status page” at FTB.gov to check the status of your refund. This site is for tax returns filed by individuals, not business entities.
Each month, the IRS provides various prescribed rates for federal income tax purposes. These rates, known as Applicable Federal Rates, or AFRs, are regularly published as Revenue Rulings. The AFR's are used for numerous purposes including computing imputed interest on below-market interest rate loans, determining the annual limitation on the use of net operating loss carryovers under certain circumstances proscribed by Internal Revenue Code Section 382, golden parachute payment calculations and low-income housing credit calculations. Click here to go to the Internal Revenue Service's Applicable Federal Rates Index page.
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IRS Sales Tax Deduction Calculator
If you itemize your deductions on Schedule A of Form 1040, you have a choice between deducting your state income taxes paid during the year or the amount of sales taxes paid when computing your deduction for state taxes. For most taxpayers, especially in high-tax states such as California, the state income tax deduction provides a larger deduction, however in certain circumstances, the sales tax deduction could be advantageous. There are two methods for deducting sales taxes. 1) save all receipts from every purchase that you paid sales tax on, add up the total amount for the year and that's your deduction; or 2) the much more reasonable method, use the Sales Tax Deduction Calculator on the IRS web site. It's an easy-to-use tool for computing your sales tax deduction. If you made large purchases during the year (e.g., a car, boat, etc.), you can enter the sales tax paid for those specific purchases to be added onto the amount computed by IRS formula to get your total sales tax deduction.
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Quick Tips for New Business Owners
Starting a business? Here's a list of do’s and don’ts to ensure you have good records for running and measuring your business, as well as satisfy IRS requirements.
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