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Tax and Tax Information - Income Tax

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Tax and Tax Information * Income Tax

The Tax Advantages of an Individual Savings Account (ISA)   
Graeme Nicholson

The successor to the TESSA, the ISA (or individual savings account) provides a government regulated savings scheme for encouraging individuals to save rather than spend as a means of economic and financial control. By encouraging saving in the economy, inflation can be kept at a sustainable and manageable level, particularly where the economy is otherwise performing well, and the ISA has proven to be an invaluable asset for maintaining economic stability in this way. But what exactly are the tax benefits of the individual savings account, and how do they work in practice for those looking to stash some extra money into savings?


Monetarist economics revolves around the basic idea of controlling the amount of disposable income available and the money supply in an attempt to curb or stimulate economic growth as the particular economic climate demands. One means of doing this is to try to encourage the general population to hold onto their money for longer, rather than the excessive spending that can push up inflation and put pressure on the economy. The ISA works by encouraging those with excess cash to put it aside without having to worry about the associated tax burden. Payments into an ISA are tax deductible from income, and the interest accrued within the ISA is also tax free. In fact, the capital gains from an ISA are also tax free upon withdrawal, which ultimately makes it a valuable way to make money from your money.

Article to continue below----------------------------------------------

NARUC Asks For Clarification On Broadband Grant Tax Status (Broadcasting And Cable)
Association says money should be tax...

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Under normal savings schemes and taxation principles, paying money into an account cannot be deducted from your taxable income, meaning you still have to pay tax on the full amount include the sums paid into your savings as if it were income earned. However, by turning this on its head and allowing a deduction, savings can actually help reduce the direct tax burden, and so by encouraging saving in this type of account by reducing the amount of tax the saver has to pay. Secondly, the fact that the money in the savings account is allowed to earn money through investment tax free make it a prudent way to store your money and allow it to work for you, rather than the tax which is deducted at source from income earned in a regular savings account. Finally upon withdrawal from the account, there is no tax to be borne, leading to an all round attractive investment proposal for those with the disposable income to afford it.


Savings can be a great way to earn money from excess cash, and provide you with the resources to see you through for that rainy day. Within your annual personal savings limit, the ISA can be the best possible way to make a decent return on your money through high-yield low risk investments. Whereas normally one is liable for tax on the totality of his income above the annual allowance, the individual savings account allows you to make the most of your money whilst also saving from the tax implications of having excess income.

Article to continue below----------------------------------------------

Tax Season Brings Out The Fraud Artists (ABC News)
Tax season is a popular time for identity-theft scams. Identity theft - Theft - Crime - Fraud - Law

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Graeme Nicholson is a Famous writter for stake holder pension. The author writes about individual savings account and Life Assurance.

What Other Authors say about Taxes

Consumer Energy Tax Incentives by

What the Economic Stabilization Bill Means to You The recently passed Emergency Economic Stabilization Act of 2008 included, extended and/or amended many consumer tax incentives originally introduced...

Income Tax Software - The Best Ones On The Market by Mike Singh

There are several income tax software programs available on the market to help you complete your yearly taxes. These programs offer tax tips, checklists, and error checking messages to ensure that required...

A Guide To Tax Forms by Carl LaFresnaye

Looking at the Internal Revenue Service's website (www.irs.gov) can be a bewildering experience. A vast array of tax forms greets you and figuring out which ones to use can be a chore. This guide is designed...

Income Tax Return Filing 101 by Glenn McDonald

The month of April rolls around and most of America is getting ready to prepare their income tax returns.Every year everyone who made an income are required to report income to the federal and state governments...

How Wealth Tax Is Better Than Income Tax by Jim Thio

Wealth TaxDo you want to move money from the wealthy to the poor? Well, tax wealth.Wealth tax causes far less market distortion, and hence, much fairer than income tax. Wealth tax hurt productivity less....

IRS Provides Foreclosure Tax Relief For Homeowners by Raynor James

As if a foreclosure on your home isn't bad enough, do you realize there could be dire tax consequences? Fortunately, the IRS is taking steps to mitigate much of the double disaster. Many have accused the...

Self Employment Registration And The Self Assessment Tax Return Form by Terry Cartwright

There is no strict definition of self employment as opposed to not being self employed however the basic rule is if you have income other than is taxed under the paye system then you may be self employed....

Being Careful To Choose Legal Tax Shelters by Carl LaFresnaye

There are some types of corporations that try to find loopholes in the tax laws that allow them to get out of paying such high taxes. There are some companies that look for tax shelters, which are ways...

Do You Know When To File A Tax Return? by Ken Snowie

Every year, millions of Americans dread the inevitable; they have to gather all of their receipts and records and get ready to file their Federal Income Tax Returns. When was tax season first initiated?...

All About Late Filing Of Federal Taxes by Carl LaFresnaye

The IRS allows for late filing of federal taxes provided the appropriate paperwork is filled out (there's always paperwork!). This simple guide shows you how to go about it. Forms for Late Filing of...

Special assistance for Singapore company formation by ken wilson

Incorporating a company in Singapore might be the smartest decision you can make when thinking about making an investment. If you decide to do that, we can help you with your Singapore company formation,...

Does IRS have a Refund or Stimulus Check for you by

The Internal Revenue Service is trying to find 279,000 recipients for more than $163 million in undelivered economic stimulus payments, according to the government. The average undelivered check is worth...

Is The RRSP The Most Effective Plan For Your Retirement? by Yvonne Finn

For many years Canadians have been relying on the income from their RRSP, which was instituted in 1957, to fund their retirement years.Now, however, the small rates of return, taxes and inflation are threatening...

Getting Tax Help From The IRS by Carl LaFresnaye

They say that the only things certain in life are death and taxes. Since we are all faced with filing our taxes year after year, it is pretty unavoidable. If you can afford to have a Certified Public...

Understanding Basic Tax Terms by Ryan Fyfe

If your like many, you don't always understand what people are talking about when it comes to Taxes. It's important to know the main tax terminology, especially when tax season comes around. Knowing the...


Who are the CPA Moms?      Your Tax Professional Forever!!!!

“CPA Moms - Tax Moms - EA Moms" are trade names given to Accounting and Tax Professionals who chose to work in an “relaxed” environment. Some "Moms" work from home, other work from personal offices. Not all are Moms, there are some Dads. We call them Mr. Tax Moms. CPA Dads or Enrolled Agents Dads.
Each Mom is independent. Once a client starts working with a Mom, the client will keep the same “Mom” year after year regardless of where the client moves or relocates. Being in a “relaxed” environment has many advantages. Lower overhead, faster response time, more availability, etc.
To be a member a CPA Mom, Tax Moms, or an Erolled Moms the Tax Professional must ALWAYS be in good standing with their state licensing agency, experienced, and must demonstrate a high level of ethics, professionalism and proficiency.
Tax Net Inc, the parent company for all CPA Moms, Tax Moms and Enrolled Moms, developed the marketing and on-line systems to help qualified Tax Professionals who "choose" work from their “relaxed” environment and offer better service at a lower price to the consumer.
Since the “Moms” do taxes and accounting of all complexities, there is always a Mom available for every level of work. Since each Mom has a private 800 number, you are just a phone call away, regardless of where you live.
For reliability and dependability of Tax Net, Inc, the parent company of the “Moms” organization click on the Better Business Bureau (BBB) icon.

To Join CPA Moms

Click for accredited member's reliablility report.

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Index of Articles about Taxes

What Other Authors say about Taxes

Consumer Energy Tax Incentives by

What the Economic Stabilization Bill Means to You The recently passed Emergency Economic Stabilization Act of 2008 included, extended and/or amended many consumer tax incentives originally introduced...

Income Tax Software - The Best Ones On The Market by Mike Singh

There are several income tax software programs available on the market to help you complete your yearly taxes. These programs offer tax tips, checklists, and error checking messages to ensure that required...

A Guide To Tax Forms by Carl LaFresnaye

Looking at the Internal Revenue Service's website (www.irs.gov) can be a bewildering experience. A vast array of tax forms greets you and figuring out which ones to use can be a chore. This guide is designed...

Income Tax Return Filing 101 by Glenn McDonald

The month of April rolls around and most of America is getting ready to prepare their income tax returns.Every year everyone who made an income are required to report income to the federal and state governments...

How Wealth Tax Is Better Than Income Tax by Jim Thio

Wealth TaxDo you want to move money from the wealthy to the poor? Well, tax wealth.Wealth tax causes far less market distortion, and hence, much fairer than income tax. Wealth tax hurt productivity less....

IRS Provides Foreclosure Tax Relief For Homeowners by Raynor James

As if a foreclosure on your home isn't bad enough, do you realize there could be dire tax consequences? Fortunately, the IRS is taking steps to mitigate much of the double disaster. Many have accused the...

Self Employment Registration And The Self Assessment Tax Return Form by Terry Cartwright

There is no strict definition of self employment as opposed to not being self employed however the basic rule is if you have income other than is taxed under the paye system then you may be self employed....

Being Careful To Choose Legal Tax Shelters by Carl LaFresnaye

There are some types of corporations that try to find loopholes in the tax laws that allow them to get out of paying such high taxes. There are some companies that look for tax shelters, which are ways...

Do You Know When To File A Tax Return? by Ken Snowie

Every year, millions of Americans dread the inevitable; they have to gather all of their receipts and records and get ready to file their Federal Income Tax Returns. When was tax season first initiated?...

All About Late Filing Of Federal Taxes by Carl LaFresnaye

The IRS allows for late filing of federal taxes provided the appropriate paperwork is filled out (there's always paperwork!). This simple guide shows you how to go about it. Forms for Late Filing of...

Special assistance for Singapore company formation by ken wilson

Incorporating a company in Singapore might be the smartest decision you can make when thinking about making an investment. If you decide to do that, we can help you with your Singapore company formation,...

Does IRS have a Refund or Stimulus Check for you by

The Internal Revenue Service is trying to find 279,000 recipients for more than $163 million in undelivered economic stimulus payments, according to the government. The average undelivered check is worth...

Is The RRSP The Most Effective Plan For Your Retirement? by Yvonne Finn

For many years Canadians have been relying on the income from their RRSP, which was instituted in 1957, to fund their retirement years.Now, however, the small rates of return, taxes and inflation are threatening...

Getting Tax Help From The IRS by Carl LaFresnaye

They say that the only things certain in life are death and taxes. Since we are all faced with filing our taxes year after year, it is pretty unavoidable. If you can afford to have a Certified Public...

Understanding Basic Tax Terms by Ryan Fyfe

If your like many, you don't always understand what people are talking about when it comes to Taxes. It's important to know the main tax terminology, especially when tax season comes around. Knowing the...