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Preview: Finance: Taxes Articles from EzineArticles.com

Finance:Taxes Articles from EzineArticles.com





Published: Sat, 22 Jul 2017 23:59:10 -0500

 



5 Tax Rules to Follow for Non-Resident Indians

Thu, 13 Jul 2017 11:01:45 -0500

Taxes can be a source of uncertainty for non-resident Indians who lack clarity about their obligations. In the following article, we go over 5 tax rules which need to know to stay out of trouble for an Indian working abroad.



A CP - 504 Marks The Beginning Of Serious IRS Tax Problems

Tue, 27 Jun 2017 14:53:29 -0500

If a taxpayer receives a CP 504 and then ignores it, the repercussions are immediate and quite serious. This notice is only sent after two previous notices (CP 501 and CP 503) have failed to get the attention of the taxpayer. The debtor must understand that when the CP 504 IRS notice is received, the IRS is ready to assume a very aggressive stance with regard to collection.



Know Your PAN Card and Its Effective Uses

Tue, 27 Jun 2017 11:28:25 -0500

The significance of a Permanent Account Number or PAN has increased over the years, and it is today an important part of our daily lives. The most significant purpose of assigning PAN to an entity is for the reason of verification and to check all the linked monetary detail of that entity. At first, the importance of PAN was for filing IT returns.



Five Ways to Get a Jump on 2017 Tax Savings

Sun, 25 Jun 2017 10:44:51 -0500

With the April deadline for filing taxes behind us, it can be easy to put taxes out of your mind until next filing season. Before you do, review your financial situation to see if you could benefit from early tax planning. A little organization today may help you reduce your 2017 tax burden.



Land of the Free - Home of the Highest Corporate Tax Rate

Sun, 16 Apr 2017 20:07:19 -0500

Summary of the current corporate tax rate and it's drawbacks. Short summary of Trumps early plan for tax reform and its possible effects.



5 Facts About Tax Planning That Just Might Surprise You

Sun, 16 Apr 2017 10:40:08 -0500

For many, the painstaking, arduous task of tax planning is something they dread all year. What's more, the dread it felt year after year, as though somehow there may have been a pleasant change that has occurred in the intermittent 364 days to remedy the process. Tax season, it seems, always carries some woes.



What Exactly Will The Border Adjustment Tax Do?

Thu, 13 Apr 2017 15:28:55 -0500

There has been a lot of discussion lately on a border adjustment tax: what it is, and what is means for American corporations, consumers and the economy. A border adjustment tax would essentially remove taxes on goods exported from the United States, and lower the corporate income tax rate to 20%, converting it to a "destination-based cash-flow tax." Ideally, if the tax is set up appropriately, then more American jobs will be created and more goods will be made inside the United States.



Avail Tax Processing Services to Reduce Your Tax Burdens

Sun, 02 Apr 2017 17:42:17 -0500

Dealing with finances is not only an art but also a science sometimes especially when you are liable to pay tax. Whether you are an individual or a corporate entity it is quintessential to pay taxes to the respective authorities as per your slabs. However, paying the demands have been conceived by many of us as a burden as we don't know how to reduce the liability by applying few fundamentals of income tax in an artistic way.



The Cumulative Effective Tax Rate

Sat, 01 Apr 2017 09:06:48 -0500

Early Americans would roll over in their graves if they heard about modern-day America's topsy-turvy departure from many of the hard-won freedoms and liberties of the American Revolution. They would be unable to make sense of all the different taxes we pay today, and especially the government's legal entitlement to a portion of an American's labor via an income tax. There was no such tax on labor for the earliest Americans; it was unconscionable to tax someone's personal property, which one's labor was then considered. The concept of paying one's "fair share" did not exist until after mid-20th century.



How To Convince Your 20-Something Kids to Take Tax Planning Seriously

Thu, 30 Mar 2017 07:53:49 -0500

Tax planning can be a difficult concept for people to both grasp and get on board with. It can be especially daunting for the younger crowd, as most people in their twenties are just starting out in the work world and have more exciting things on their minds. Participating in a smart financial plan that takes into account the ramifications of taxes is not only prudent, but it is crucial in order to maximize retirement benefits, as well as save and grow one's money. Convincing your children to make plans for their financial future can be one of the greatest gifts you ever give them. Take a look at the following advice to get your children started today:



Tax Deductions For Small Businesses

Mon, 20 Mar 2017 14:15:56 -0500

Claiming deductions for your home office: If you can prove that your tax deductions are legitimate, then there is no reason why you shouldn't claim them, even if they are linked to your office which happens to be in your home. It's all just a case of organizing your records properly, and being able to prove that your expenses are for your business. Ensuring that your office space is clearly that, as opposed to a desk shoved into the corner of your bedroom, or a tiny area in what is otherwise the kid's playroom,...



I Predict the President Will Outline a Huge Tax Increase, and That Most Americans Will Support It

Mon, 06 Mar 2017 15:33:15 -0600

A prediction that President Donald Trump's tax plan will reduce the Federal deficit, pay for extraordinary government spending on defense and infrastructure, protect the viability of Social Security, fund a substantial tax cut for low and middle class citizens and diminish the growing wealth gap between the vast majority of Americans and the 1 percent. The anticipated tax plan will consist of a one-time tax on estate values over 15 million dollars. I also offer an expanded version that goes beyond what the president's plan will call for.



Introduction to Outsourcing - What Are the Costs and Benefits of Outsourcing?

Wed, 01 Mar 2017 14:05:10 -0600

The rise of the online community has changed the way in which we do the business always. It has delivered us nearer to people that can help with our everyday operations and additionally backend business needs. Empowering our organizations to run smoother and turn more benefit. One of the key places this has truly had any kind of effect for bookkeeping owners is in accounting.



Landlords Accountants

Wed, 22 Feb 2017 14:09:26 -0600

When looking for an accountant make sure they offer the use of cloud accounting software such as Quickbooks, FreeAgent, Sage One or Xero. Using these programmes will mean you have access to your business's finances in realtime meaning you'll always be able to see your current expenditure and profits. Making decisions for your business will then become smarter when you have the correct info at your fingertips. It also means your accountant will have access to this info too and can give you advice accordingly.



Is CSRs Worth Considering in Tax Planning?

Tue, 21 Feb 2017 14:09:07 -0600

Managers of corporate entities should not just embark on just any CSR activities but consider the tax implication as well. All financial strategic decision sessions should consider the effect of every CSR. At worst a balance should be strike between the social benefit and the financial cost.



How to File a Correction for Income Tax Return or File Revised Return

Fri, 17 Feb 2017 09:50:58 -0600

The article provides important information to the readers about the importance of filing the income tax returns and making the necessary corrections. The corrections are important to avoid errors and they must be done before the tax returns are finalized as entry by the income tax department of India. The article educates its readers about making the correction in the right manner and period to avoid penalties by the government authorities.



Price Monitoring Structure Under GST in the Pipeline

Mon, 13 Feb 2017 13:53:54 -0600

The article is focused on informing the readers about the changes of prices related to the goods and services. To ensure inflation gets avoided and kept under strict vigilance the Government of India has introduced a Price Monitoring System under a specific structure. The prices can go higher by a large margin due to multiple taxes levied on the products, goods and services by different authorities at the state level as a result of interstate trade of goods and services. The GST plays an important role in incentivizing different types of businesses under taxation relief and offers a unified tax regime that implements the taxes without complications.



Unauthorized Immigrants Can Claim for the ITIN Help to Avoid Unnecessary Tax Hardships

Tue, 24 Jan 2017 10:13:04 -0600

An ITIN is a nine digit number that must be used on all statements and tax related documents if the individuals do not qualify for a Social Security Number in the US. To detail it further, both resident and nonresident alien individuals who are to get the benefits of a reduced rate of with holdings under the income tax treaty may have federal tax returns and payment responsibilities issued by the Internal Revenue Code or the nonresident aliens who are willing to file joint tax with their dependent spouses, the spouse being the resident of US need an ITIN...



The Facts About the ITIN Cards Used in the Tax Preparation Business

Mon, 23 Jan 2017 10:08:04 -0600

The ITIN card is issued regardless of immigration status to the alien immigrants who are responsible for paying their federal taxes but do not posses a SSN. With this card the individuals can execute all their financial activities and also provide a proof of residency.



Imputing the Services of an Individual Taxpayer Identification Number to Build Tax Solutions

Wed, 18 Jan 2017 08:08:29 -0600

An Individual Taxpayer Identification Number is issued by the IRS to the resident aliens and other foreign nationals who are claimed for the federal tax reportings. Individuals use this number to process all their tax, accounting activities in case he or she has not received an SSN.



Corporate Taxation in Singapore

Tue, 17 Jan 2017 09:29:21 -0600

Singapore has been the center of attraction for most of the organizations because the government tries to keep corporate income taxes as low as possible and gives different tax incentives to influence investors to come and invest in their business world. The country works on single-tier territorial program that is based on the flat-rate corporate income tax. The general business friendliness and effective rates are the two dominating factors to affect Singapore's economic growth, balance of payment and foreign investment.



Individuals Responsible for the Tax Reportings Need to Follow the Guidelines to Apply for an ITIN

Wed, 11 Jan 2017 08:15:00 -0600

An ITIN is a tax ID number issued by the IRS to all the resident individuals and other foreign nationals who are required to file their federal tax reportings in the US. Individuals apply for an ITIN to receive a legal authorization for executing all their financial activities.



5 Services An Accountant Can Offer Your Business

Mon, 09 Jan 2017 10:20:38 -0600

Tax accounting revolves around accounting methods that focus more on taxes rather that public financial statement appearance. It is governed by revenue codes which dictate specific rules that must be followed by individuals and companies when they are preparing tax returns.



Preparing for a Sales and Use Tax Audit

Thu, 29 Dec 2016 14:31:56 -0600

Have you received a state notice of audit for sales and use tax? This article will help you understand how to prepare for a sales and use tax audit.



Tax Payment Guide

Wed, 28 Dec 2016 13:25:26 -0600

Do you pay your taxes on time? Are you aware of all the rules and regulations associated with it? Is it difficult for you to find the right collection of information on taxes? Don't worry, we've got you covered. The following article demonstrates every necessary information and step that you need to pay your taxes properly and in time. It covers the when, how and how much of the tax that you need to pay. Follow the guidelines mentioned in the article and stay away from the responsible authorities over the long run.



Tax Planning Shareholder Succession

Mon, 19 Dec 2016 09:52:32 -0600

There are many ways a shareholder can transfer stock out of their name, this can be achieved by bequest, selling the shares to another person, or selling shares back to the company. Selling shares back to the company is known as a stock redemption. The acquisition of stock by the issuing company is a very common method of disposition. The article focuses on company repurchases not essentially equivalent to dividends and corresponds to ?302(b) (1).



How To Choose An Auditor

Thu, 15 Dec 2016 07:21:22 -0600

Choosing the right auditor can be more important than you realize because having a good auditor would result in having a lot of positive impact on your business. At the same time, having an auditor that is ill-equipped to handle the work could result in you landing up in a disastrous position. Thus, it is one of those decisions that you must take after putting a lot of thought, and being fully satisfied with it. Due to the importance of choosing the right auditor, most people tend to go for the big 4 without actually recognising their needs.



CRA Tax Audit of Building Contractor Unreported Income

Wed, 14 Dec 2016 13:43:53 -0600

This is an article regarding unreported income of construction industry in Canada. This also depicts the CRA's innovative tax audit approaches to detecting building contractors with unreported income.



Using the Acceptance Agent Services ITIN for Better Processing of Tax Services

Wed, 07 Dec 2016 08:14:50 -0600

An ITIN is a number used to access all the financial services under the US federal government. It is issued by the Internal Revenue Service as a form of identification to the nonresident alien individuals or for familial status of fiscal residents who do not have the authorization to work, so that they become eligible to receive a legal status. The Acceptance agents are basically individuals or business entities who have got the certifications to assist the immigrants, requesting for an ITIN, thus ensuring that the amended applications are processed efficiently and effectively.



Options for Paying Taxes Online

Wed, 07 Dec 2016 07:53:23 -0600

Consumers feel comfortable to pay bills online. So following are the ways you can pay your taxes online.



Tax Strategies to Consider Before Year-End

Tue, 06 Dec 2016 07:27:13 -0600

This may be the most important time of year when it comes to managing your tax liability. Most financial decisions designed to reduce your tax bill next April have to occur by December 31. Here are six strategies to consider that might help you keep more of your money.



What to Look For When Finding a Local Accountant

Wed, 23 Nov 2016 13:16:29 -0600

A local accountant is a practical solution for the business that wants a professional to take on the responsibility for returns, year-end accounts, business tax, personal tax, VAT and PAYE. Paying for accountant can in the long-term help to save money, free up time for other responsibilities, and make sure a business is properly administered.



Individuals Affected by the Changes in Tax Laws Need an ITIN Renewal

Fri, 11 Nov 2016 09:08:42 -0600

An ITIN is a nine digit number that is issued by the IRS to the resident aliens and other foreign nationals, who does not possess any Social Security Number, for carrying out the various tax processing activities in the United States. Apart from that the individuals use this number as a legal identity proof regardless of their immigration status when applying for a bank loan or credit card. The ITIN does not serve the authorization to work or provide any social security benefits of earning income.



Get Your Ducks In A Row for the 2017 Tax Season

Fri, 28 Oct 2016 09:46:23 -0500

The 2017 tax filing season is right around the corner. It can be less painful if we start preparing now.



Some Instructions Need to Be Followed to Apply for an ITIN

Tue, 25 Oct 2016 09:20:48 -0500

The Individual Taxpayer Identification Number (ITIN) is a tax processing number certified by the Internal Revenue Service to the individuals who do not possess a social security number, but are earning a certain level of taxable income or receiving scholarships, stipends and awards from any renowned university. One can apply for an ITIN to fill up the tax returns, open a bank account or apply for a mortgage loan in the United States. They are a nine digit number beginning with the number nine and used as an identity proof to access all the financial services.



Donating Time May Cut Your Tax Bill

Thu, 22 Sep 2016 07:37:57 -0500

For many people, volunteerism is about more than simply doing something nice - it's about enriching peoples' lives and making the communities where we live and work a better place. But, did you know your stewardship and goodwill may also help you reduce your taxes? Gifts given to charity and other expenses related to volunteering may be tax deductible.



5 Services Offered By Financial Services Companies to Help Retirees

Thu, 18 Aug 2016 10:02:49 -0500

A lot of financial services companies are highly sought after by people who wish to retire and spend the rest of their days with comfort. Retirement planning at an early age can help you to see amazing returns on your investments. With early planning, you can ensure that all the assets you accumulate over the period of earning can be distributed properly during the lifetime as well as afterwards. If you dream of retiring to a life of luxury and leisure, these companies can help you achieve that dream with the following 5 services.



Tax Accountants: How to Choose the Right One

Thu, 28 Jul 2016 09:13:41 -0500

When tax season rolls around, many businesses recall that they wanted to hire a new accountant, and new businesses are often hit with the sudden realization that they are desperate need of some assistance with their finances. Dealing with business finances on your own can be a nightmare, and can result in businesses missing out on important deductions that could save them a lot of money in the long run.



Understanding Your Tax Filing Requirements

Tue, 19 Jul 2016 13:35:27 -0500

Often, tax payers run into tax debt issues because they don't understand filing requirements or how a lack of compliance could prove to be costly due to penalties and interest added to existing liabilities. The worst thing a tax payer can do is ignore the obligation to file. The IRS has ways of finding out exactly what you earned during a tax year.



The Difference Between Payroll Tax and Estimated Taxes

Tue, 19 Jul 2016 13:33:02 -0500

Often tax payers find themselves owing the IRS even after they've paid taxes throughout the year. This has proven to be very confusing, as well as frustrating for many who already feel they pay way too much in taxes. In order to gain control over this tax issue, you first must understand what these taxes constitute and how they are calculated.



Guidelines on How to File a Tax Extension

Thu, 16 Jun 2016 11:40:14 -0500

Tax extension is a tax provision provided by the IRS to allow the taxpayers to extend the deadline for filing tax returns from April 15 to October 15 without any penalties. This article will list out 5 simple steps to help you understand how to file a tax extension.



Increasing The After Tax Income Of Your Early Education Company

Fri, 10 Jun 2016 14:04:37 -0500

Are you just sending your numbers to your CPA firm and waiting to get your tax news? I'm involved in conversations with the owners and executives of early education companies most every day. Most every day I hear that these smart, successful people are not telling their CPAs about expenses that can be written-off on their company tax returns



More Tax Tips For Self-Published Authors

Thu, 09 Jun 2016 09:45:05 -0500

Most self-published authors are probably more comfortable writing books than publishing them. As publication approaches, however, your principal business activity changes from writing to publishing, and your tax considerations shift too.



Top 3 Tax Issues for Truckers

Wed, 08 Jun 2016 10:02:11 -0500

Every tax season thousands of truck drivers leave hundreds of thousands of dollars in tax deductions on the table. This is due in large part to inadequate planning and poor bookkeeping. In addition, many tax professionals do a poor job at properly informing truckers of the many different tax breaks available to them.



Is It Time To Hire An Accountant To Prepare Your Tax Returns?

Mon, 06 Jun 2016 14:54:05 -0500

Are you really saving money be preparing your own tax returns or is it costing you money? We provide you with 5 indications that it may be time to hire an accounts to prepare your tax returns. We also provide you with some benefits of using an accountant to prepare your tax returns.



Tax Preparation & Refunds

Tue, 24 May 2016 10:32:55 -0500

We - or more often our CPAs - are working on our individual or business tax preparation strategies year-round. However, now that tax day has passed, those getting a refund are plotting how to spend it.



Avoiding Penalties: What to Do If Taxes Can't Be Filed on Time

Fri, 08 Apr 2016 14:41:27 -0500

Paying taxes is a duty to all who live in the United States. If there is an expected or unexpected delay in filing a return, it is very important to know what to do next.



Tax Preparation 101: Do It Yourself or Go With a Pro?

Fri, 08 Apr 2016 06:16:55 -0500

Handling your own tax preparation can seem like an easy way to save a few bucks. Word to the wise: It's often a decision that costs you when your refund comes in.



Tax Tips For The Self-Published Author

Tue, 05 Apr 2016 08:42:07 -0500

If you want to try your hand at the great American novel, a poetry chapbook, a cookbook or a guide to better management techniques, you may want to venture into the world of self-publishing. If you do, you will confront all sorts of complexity, not the least of which are the many tax issues to consider.



Avoid 'Obamacare' Marketplace Surprises

Tue, 05 Apr 2016 08:41:34 -0500

The Affordable Care Act created a variety of tax consequences for Americans, but one that was little discussed until recently was the possibility of having to repay federal subsidies for health insurance. For many taxpayers, this liability will come as a shock, as will the amount due.



Why A Tax Professional Is Your Best Bet In A Pinch

Thu, 31 Mar 2016 13:34:22 -0500

Do you have serious tax issues? Understanding what tools the IRS has at their disposal can help you to plan how to resolve your situation. Read this to see why a professional tax service necessary when you have an uphill battle.



How To Apply For A Duplicate PAN Card

Tue, 15 Mar 2016 08:34:43 -0500

A PAN card holds the same value for Indians as the Social Security Card for US citizens. PAN translates to the Permanent Account Number issued by the Income Tax Department of India under the supervision of the Central Board of Direct Taxes. This identification number is a 10 digit string of alphanumeric characters. Every registered citizen is given a unique number with his or her personal details recorded against it. Unlike a Voter's ID, this identification number remains constant even if you change your place of residence. The card also has a photograph of the holder.



Savvy Approaches to Make the Most of Your Taxes

Wed, 09 Mar 2016 09:13:37 -0600

2016 is already off to a quick start and with April 15th getting closer, it's that time of year again to think about your taxes. We've all seen the countless television ads but have you actually followed through and filed your taxes yet?



5 Tax Tips Every Small Business Owner Should Know

Thu, 03 Mar 2016 06:54:28 -0600

Our firm does not do taxes, even though I did them for 12 years. When I began my practice that was a service I simply did not want to offer.



Make the Most of Your Tax Refund

Thu, 25 Feb 2016 10:23:58 -0600

Tax season is upon us and you are probably waiting for your refund check to come in the mail. Instead of taking a vacation or buying that new TV, think about doing something different with the money you get back from the government this year. Some possibilities are discussed in this article.



Tax Refund - How To Get Your Biggest Tax Refund

Tue, 16 Feb 2016 06:35:52 -0600

Most professionals dread filing income taxes. Owning a small home based business can temporarily offset the taxable income.



IRS Payment Plans: Why Being Current With Estimated Tax Payments Is So Important

Fri, 05 Feb 2016 11:11:47 -0600

You have been told to be current on your filing and payments of federal taxes by an IRS revenue officer. So what does it mean to be current on IRS estimated tax payments? How important is this to get any tax resolution from the IRS?



3 Tips to Avoid Being a Target

Wed, 03 Feb 2016 09:33:32 -0600

Tax season is quickly approaching, and that means one thing: the return of scammers determined on seizing your wealth. Follow these tips to avoid being a target.



How Will Your New Business Be Treated For Tax Purposes?

Wed, 03 Feb 2016 09:03:13 -0600

New business owners are frequently confused about how their businesses will be treated for income tax purposes by the IRS. This article contains a brief introduction to the taxation of the most common types of business entities.



Tax Identity Theft Awareness

Wed, 27 Jan 2016 15:17:27 -0600

The biggest challenge in handling it is the fact that social security numbers of people can be obtained from various sources which an individual may not have control over. Such sources may include hospitals, nursing homes and schools.



Are You Eligible To Deduct Work Expenses As An Employee?

Mon, 25 Jan 2016 12:28:56 -0600

The typical answer to whether you can deduct work related expenses as an employee is "No, you have to be a business to do that." Yes, there are deductions for union dues or pension contributions that affect all workers, but there are also deductions for employees for certain types of expenses depending on what you do for a living. The most common occupations for these types of deductions are commission salespeople, people working at a home office, tradespersons, long-haul transport employees, clergy, artists and musicians. Almost any occupation can qualify depending on the work arrangement you have with your employer.



Tax Returns May Experience Delays Due to Increased Cases of Tax Fraud

Fri, 22 Jan 2016 14:00:40 -0600

You will soon be filling your tax payer returns, if you already haven't. However, most taxpayers will have to wait longer for their tax refund cheques thanks to the improved IRS fraud theft filters.



Tax Fraud and Identity Theft Checks Will Delay Tax Returns

Thu, 21 Jan 2016 13:37:25 -0600

Were you one of the hundreds of thousands of US citizens that were made to wait up to 18 weeks to receive your tax return? Well if so then there may be even more of a wait for taxpayers in 2016. No matter what state you live in, tax fraud and identity theft is rampant and as a result the IRS has cracked down on fraudulent claims. That is why whether you live in California or North Dakota, you may be made to wait for several weeks to see both your state and federal income tax returns.



Why Your Tax Refunds May Be Delayed This Year

Thu, 21 Jan 2016 12:59:32 -0600

Tax refunds are a return of the excess amounts of income tax paid by a taxpayer to the state or federal government in a financial or calendar year. In the United States in particular, they are often received in the form of US savings bonds, personal checks, or direct bank deposits according to the taxpayers' preferences.



Personal Tax Filing and What's New in 2016

Mon, 18 Jan 2016 06:26:59 -0600

Congress makes last minute changes to the tax code every year, forcing the Internal Revenue Service to update taxpayer instructions at the last minute. The tax rule changes in this article can help anyone filing a personal tax return increase their potential refund.



When Is the Best Time To Start Your Taxes?

Wed, 13 Jan 2016 07:24:40 -0600

April 15th is a deadline no one likes to think about. Many put off doing their taxes for fear of having to pay, but is that the best idea?



Foreign Earned Income Inclusion - Understanding Earned Income For US Tax Payers

Thu, 07 Jan 2016 07:41:02 -0600

Many foreign workers have problems when it comes to filing their taxes especially if they derived their income in a variety of ways. US workers who are employed in a foreign country will find this overview helpful in understanding the basics of income inclusion and what to include in their income tax return.



Tax Preparation Tips for Small Business Owners

Tue, 29 Dec 2015 15:55:11 -0600

Are you a small business owner? Tax preparation professionals can help you save money every April with these deductions.



Double Irish and Dutch Sandwich - Understanding Tax Havens

Wed, 16 Dec 2015 08:00:58 -0600

Ireland, a country known for U2 and Guinness, is more known in the business world as a tax haven. Ireland is in the same group as Luxembourg and Bermuda; countries with no physical resources as well as human capital. However they leverage their business regulation in order to attract companies by offering a business friendly environment and low taxation on companies incorporated.



Wide Ranging Implications of the Foreign Account Tax Compliance Act (FATCA)

Thu, 10 Dec 2015 14:39:19 -0600

This article provides a basic overview and implication of a new U.S Tax Law which is being implement across the globe. The Foreign Account Tax Compliance Act (FATCA) is a United Stated (US) Federal law which was introduced as a part of a Hiring Incentives to Restore Employment (HIRE) Act in 2010 to increase tax transparency and tax revenues. The regulation requires all Financial Institutions (FI) (banks, funds, brokers, custodians, asset managers, insurers, etc.,) outside of the US to search their records for any listed US persons and report their assets and identities to the US Treasury.



Taxes And Taxation

Fri, 04 Dec 2015 07:35:29 -0600

From the cradle to the cemetery, every citizen pays taxes of one kind or another. Whether the service is rendered or not, tax has to be paid.



Reduce Your Taxes With These Tips

Thu, 03 Dec 2015 07:45:23 -0600

What is your 2015 income tax bill? Do you owe? Or are you expecting a refund? You don't need to wait until April 15th to find out.



Reviving A Bad Idea

Thu, 12 Nov 2015 10:21:23 -0600

Hiring private firms to collect tax debts has failed twice before. The House wants to try it again.



How Domestic Oil and Gas Investing Could Help You Save Taxes This Year

Mon, 09 Nov 2015 13:20:04 -0600

The Tax Act of 1986 offers tax incentives many taxpayers overlook. The Act contains a unique provision that allows generous deductions against active income. Bottom line, money invested in America can help you save on taxes while creating significant upside potential as an investment.



How Globalization Has Affected Tax Policy

Fri, 06 Nov 2015 10:27:14 -0600

Globalization has been an increasing trend for businesses looking to expand. By growing into foreign markets, a company expects to increase revenue and earnings to stockholders over the long run. As this has happened, globalization has made taxation more complex than it had already been.



Why Hire An Accountant To Manage Your Taxes?

Wed, 04 Nov 2015 14:45:19 -0600

There are many instances in life in which we are faced with the choice of attempting to do something ourselves, or seeking the help of a professional. Now while the decision might be made easier when considering whether to attempt a spot of home DIY yourself - as after all, a wonky shelf or crooked door are not necessarily costly disasters - the decision becomes a little trickier when contemplating filing your tax returns. Completing and filing them yourself, naturally means avoiding paying for the services of a tax accountant, but if submitted late or incorrectly, the cost to you, may well outweigh that of an accountant.



Now Is the Time to Think About Your Next Tax Return

Tue, 03 Nov 2015 15:53:20 -0600

Your 2015 tax return isn't due until April of 2016, but now is the time to consider your options for tax planning. Many of the tax-savings moves you can make for your 2015 return need to occur before the end of the year. Here are answers to questions you may have about tax planning strategies in the weeks ahead.



Are You Managing Your Inventory for Maximum Benefit?

Mon, 02 Nov 2015 08:11:52 -0600

For those businesses who must maintain and manage inventory, it can be a daunting task. Inventory is a process where you purchase goods at cost for the purpose of sales. The complexity comes into how you measure the use of the inventory. For example, consumption in a business, e.g. restaurants; supplies in hair salons, manufacturing and a host of other areas will require careful documentation and compliance to IRS rules and regulations,



1099-C Cancellation Of Debt And The Forms And Rules You Need To Know About

Fri, 09 Oct 2015 07:09:32 -0500

What is the 1099-C Cancellation Of Debt? Are you a lender and do you have a problem with regards to 1099-C Cancellation Of Debt? The 1099-C Cancellation of Debt is a legal document arranged by the IRS in regards to forgiving and cancelling debt. It is available for the cancellation of $600 or more in bad debts. It is supposed to be issued by borrowers through the IRS for the cancellation of a bad debt.



Five Easy Tips for Tax Preparation

Thu, 17 Sep 2015 12:26:51 -0500

Preparing your taxes probably isn't on the top of your list of fun things to do this year. Nonetheless, there are many ways to lighten your load and make the process of tax preparation less stressful.



Cyprus Tax Laws - Made for Smart Russians?

Tue, 15 Sep 2015 11:40:15 -0500

"Welcome to Paradise" - 'Why open a business or live in Cyprus' - there are more reasons that you would initially think as the Cyprus government takes positive action in their fight back to the top. Tax breaks for Non Doms! The latest round of changes in the laws gives some all round positives, particularly for foreigners considering moving to Cyprus. The local economy will, of course benefit as more money starts to circulate.



Keys to Getting the Most Tax Savings From Taking Care of Your Parents or Spouse

Tue, 15 Sep 2015 10:30:46 -0500

Most of our wealth management clients are retired or just about to retire. When we have reviewed their past tax returns, we have noticed some glaring deficiencies in NOT taking the amount allowable in medical deductions, especially when taking care of their parents. Here is a general overview of Medical Expense Deductions with the most overlooked deductions that can save you a large amount of money.



An Unprofitable Identity Theft

Wed, 09 Sep 2015 09:20:33 -0500

Someone tried to steal an identity and a tax refund. But things did not go according to plan.



Audit Services Pros Share Tips For Handling Tax Debt

Tue, 01 Sep 2015 15:04:17 -0500

Need help dealing with the IRS? The right audit services firm may be able to help you negotiate a manageable settlement on your tax debt.



Potential Financial Concerns for the New Small Business Owner and How Local Tax Consultants Can Help

Tue, 01 Sep 2015 15:03:33 -0500

Anyone who is launching a small business may have questions about gaining financial backing. The potential owner may choose to seek guidance from a local tax consultation on how to manage the licensing and tax classifications for the business.



How to Reduce Your Taxes, Save Money, and Increase Your Net Worth Legally!

Tue, 01 Sep 2015 09:45:39 -0500

Have you ever wondered how you could reduce your taxes and keep more of your money? Well believe it or not, the government actually gives you an option to do just that. In fact, the IRS really wants you save money on your taxes if you believe that! (OK, well maybe that's not the IRS' first mandate, but they do have that written into their code).



When Is a Roth Conversion Strategy Right for You?

Mon, 31 Aug 2015 13:16:01 -0500

One of the biggest obstacles in a successful retirement is the ongoing tax obligations year after year. Many people building for their retirement will payoff their mortgage because they don't want the monthly obligation. What we can pay off your taxes in the same manner? Can you imagine living most of your retirement without paying income taxes? The IRS has given us this opportunity but with many specific rules to follow. If you are considering this strategy, it is monumentally important to align yourself with advisers who are trained and have experience for this specific strategy.



When Two Equals Two, Not One

Fri, 21 Aug 2015 09:31:08 -0500

Unmarried co-owners of a home can get twice the interest deduction available to married couples, at least in the Ninth Circuit. Now that the courts have spoken, the mortgage deduction will remain one area where those who haven't tied the knot stand to benefit.



Deductible Auto Expenses

Thu, 20 Aug 2015 08:18:08 -0500

There are tax breaks available for several uses of your personal automobile. The following article will outline the tax deductions available.



Basics of Offsetting the Kaptur-Sanders Bill

Wed, 12 Aug 2015 08:50:57 -0500

Learn more about the proposed legislation in Washington that could take aim at 1031 exchanges. Industry experts are raising concerns and lobbying.



Banks Can Help Consumers to Maximize Their Tax Savings

Tue, 11 Aug 2015 06:42:12 -0500

Banks can help consumers reduce their tax burdens by helping them open IRAs or other retirement accounts. This is a great way to get tax deductions.



Your Next Road Hazard Could Be A Tax Deadline

Mon, 10 Aug 2015 09:28:01 -0500

The next time you speed down the highway thinking of how late you are, you may want to take a moment to wonder whether your tax return was late too. The latest highway bill creates some potholes for unwary taxpayers.



Choosing the Right Tax Preparer

Thu, 06 Aug 2015 10:11:25 -0500

When choosing a tax preparer you must be careful to select someone who is ethical and knowledgeable in the area of taxation. The following article provides some insight as to what to look for.



Myths About 1031 Exchanges, Part 1

Mon, 03 Aug 2015 12:59:33 -0500

Learn more about the most common myths surrounding 1031 exchanges. Avoid these misconceptions if you are interested in facilitating an exchange.



Divorce and Taxes Part 2

Thu, 30 Jul 2015 13:21:02 -0500

There are special rules regarding claims for exemptions and certain tax credits for children of divorced or separated parents. The following is a summary of those rules.



Basic Tax Saving Tips for New Business Owners

Wed, 29 Jul 2015 13:03:56 -0500

Congratulations on your business! Here's to its success! You must be celebrating right now.



Seven Simple Strategies to Lower Your Taxes

Tue, 28 Jul 2015 14:25:41 -0500

You cannot avoid tax, but you can minimise the effect they have on your finances. Unlike convoluted tax shelters and offshore bank accounts, there are legal ways to reduce your taxes without risking penalties. Here are seven easy to use strategies that are most likely to help you lower your tax.



Divorce And Taxes Part 1

Tue, 28 Jul 2015 11:08:30 -0500

Divorce is never easy. No matter the reason there are almost always emotional and financial implications. Included in those are several tax considerations that must be addressed. My next couple of articles will outline some of the tax situations that arise as the result of divorce. This article will provide an overview of alimony and support payments.



How to Choose a Good Bookkeeper

Fri, 17 Jul 2015 14:17:55 -0500

An expert bookkeeper/accountant makes significant difference to the fundamental benefit of your business as well as its success.It's in best interests of your business to have a capable and expert professional bookkeeper handling the most important part of your business i.e. your FINANCES.Tax planning is a beneficial asset for anyone regardless of whether small or big business and even for the individual tax payers.With the right tax advisor you remain at peace and become familiar with the fair ways to meet all your needs in the most efficient way.



Directors Beware

Fri, 17 Jul 2015 13:20:28 -0500

The ATO has stepped up its enforcement activities and has stated that it is now taking firmer action approach to debt collection. This action appears to be focused on outstanding company tax debts. The corporate veil was long ago pierced. The ATO's powers now take that to the next level. Directors, past, present and new can be held personally liable for unpaid company debts including Pay as You Go Withholding (PAYGW) and Superannuation Guarantee Charge (SGC).