Taxes are your enemy, but tax deductions are your friends. Taxes are the great bane of most businesses. Alas, business deductions act as a salve to cool the burning and itching of your bank account.

Hurricane Ike inflicted a steep penalty on the Texas Gulf coast. However, there is an inconspicuous benefit – casualty loss tax deductions. Taxpayers may be able to take a 2008 deduction if either personal or business property was damaged by Hurricane Ike.

The first step to annually appealing your property taxes is to send a written notice to the appraisal review board (ARB) for the county in which your home is located. Even if you have not received a notice of assessed value from the appraisal district, file a notice of appeal by May 31st.

Mutual Fund investments are a great instrument for tax planning which also ensures good returns. In Mutual Funds, a major portion is invested in equity and equity-related instruments. Investment up to Rs 1 lakhs is exempted from income under section 80C and dividends received are also tax-free in the hands of the investor. There is no upper limit on investments and long-term capital appreciations are tax free. The only limitations of Mutual Funds is that there is a lock in of three years before which you can not withdraw. But investment should be carefully planned and you should devote sufficient time in selecting the right fund.

If you disagree with the appraisal district's value or any action of the appraisal district about your property, the Texas Property Tax Code (TPTC) provides several options to appeal your property taxes.

For many homeowners, the property tax appeal process can seem too difficult and therefore only about 8% appeal even though 70% of those who do appeal are successful. Most homeowners also do not realize that their appeal can be resolved at the informal hearing.

By understanding business tax deductions, business owners may enjoy personal benefits from business expenditures - a nice car to drive, a combination business trip/vacation, retirement savings plan - if they follow the myriad tax rules.

It happens every year. Just when you get motivated to get rolling on your taxes, you realize you can’t find the return you filed last year.

Try out the free bill consolidation quote before you go for consolidation loan to know the actual interest rates charged. Also know the procedure to get approved for the loan.

The sales comparison approach is the most intuitive and best understood of the three approaches to value. Home buyers, companies renting office space and real estate investors all utilize this approach. Comparable sales are often referred to as comps and rental comparables are often referred to as rent comps.

Tax Rule No.1: Don’t cheat the IRS. But that doesn’t mean you should cheat yourself. Take every legal tax deduction you can.

A casualty loss may occur as a result of a flood, hurricane, tornado, mudslide or other natural disaster. The intuitive thought pattern is: “My apartment complex worth $5,000,000 suffered major damage totaling $1,500,000 for repairs and rent loss. Fortunately, I was completely covered for both physical damage and rent loss, other than a small deductible. There is clearly no casualty loss I can claim as a tax deduction, right?”

Most property owners appealing on market value at Harris County Appraisal District, will achieve their best result during the informal hearing in a settlement negotiation.

Taxes are your enemy, but tax deductions are your friends. Taxes are the great bane of most businesses. Alas, business deductions act as a salve to cool the burning and itching of your bank account.

The countdown to May 31 - the last day Texas homeowners can submit an appeal to protest their property taxes - is growing closer by the minute. Each year, Texas homeowners pay a collective total in the millions on their property taxes. Yet, there is a 70% chance of lowering taxes when an owner appeals the assessment!