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Published: Fri, 20 Apr 2018 16:41:40 -0500


The 5 Laws of GST

Thu, 12 Apr 2018 13:34:40 -0500

Goods and Services Tax Law in India is a comprehensive, multi-stage, destination-based tax that is that is applied on every value addition. In straightforward words, Goods and Service Tax is an indirect tax demanded on the supply of goods and services. GST Law has replaced many indirect laws that already existed in India.

2026 Tax Bomb Makes the Solo 401k Roth Look Better Than Ever

Tue, 10 Apr 2018 15:10:52 -0500

Under the pre-2018 tax rates, it made sense to make traditional pre-tax deductible Solo 401(k) contributions. But with new tax rates, the pre-tax decision needs to be re-examined. The Roth contributions, although not initially deductible, grow tax-free and may be far more beneficial in your later years.

Tax Reforms

Tue, 10 Apr 2018 11:08:04 -0500

Several concerns have been raised about the current federal tax system where issues like complexity, unfairness and economic inefficiency need to be addressed. Due to its complexity, individuals have a hard time understanding and complying with the tax laws. The current income tax needs reforming where the rates will be lowered and broaden its base. When there is a broad base with lowered tax rates, the economic efficiency will highly benefit.

Smart Tips For Filing Your Tax Return

Tue, 27 Mar 2018 20:27:52 -0500

Have you filed your taxes? Are you a first time filer? Research shows that 25% of all first time taxpayers wait until the last two weeks to file their taxes. If this describes you, then these helpful tips will help you get your taxes files correctly and on time.

What You Need to Know When Preparing for Your 2017 Tax Return

Wed, 21 Mar 2018 14:39:50 -0500

As Spring draws closer (hopefully), so does the time to prepare and file your 2017 taxes. Since we last posted, you should have received all the required paperwork from your employers and investments. Now it's time to catch up on the latest changes to the tax laws as some of them may affect you.

There Are Two Certainties in Life and One Is Taxes

Wed, 14 Feb 2018 14:58:43 -0600

It's the time of year where the working world is split into those that look forward to tax refunds and those who dread seeing how much they owe. Yes, that's right, it's tax time. The buzz has begun with the distribution of T4s, which companies have until the end of February to deliver.

20 Things You Should Know About the New Tax Laws

Mon, 12 Feb 2018 13:55:26 -0600

1. 2017 Taxes: The new laws will be applied to 2018 taxes. 2. Property taxes: The max total that can be written off is $10,000 for the combination of property taxes + income & sales tax

Check These Dos and Don'ts for Selecting a Small Business CPA

Tue, 23 Jan 2018 08:17:44 -0600

When it comes to selecting CPA firms for small businesses, most entrepreneurs have their questions. Read on to find a relevant list of dos and don'ts listed here.

Act Now on Tax Reform and Save Thousands

Fri, 19 Jan 2018 08:59:15 -0600

You're losing money every day of 2018 that goes by that you don't find out about and act on the new opportunities and threats on the tax front. It's urgent that you take action now.

Increasing Tax Planning: A Case of a Wolf in a Sheep Skin?

Tue, 16 Jan 2018 09:05:45 -0600

Tax planning has become a modern strategy adopted at boardroom discussions. Government likewise create the environment for such boardroom discussion in its effort to create employment, attract potential investors or increase productivity but is tax planning actually doing more good or bad to a country?

Time To Walk The Tightrope Of Tax Again

Fri, 12 Jan 2018 08:40:16 -0600

Just as sure as night follows day, there comes a time when tax has to be paid. We probably don't like it; after all, it took a long time to earn that revenue, and the taxman wasn't sitting beside you in the wee small hours as you earned it. But he (or she) will still want their cut, so here are some simple guidelines to help your delicate book-balancing act

Shrink Your Tax Liabilities by Using the Tax Calculator

Wed, 10 Jan 2018 08:17:31 -0600

This article is all about the features and benefits associated with the Tax Calculator. By using this amazing pocket tool, anybody can get his financial problems eased out within few minutes.

Taxes Are Driving Americans Away

Mon, 08 Jan 2018 09:20:38 -0600

Now is a great time to take steps to protect your assets as you diversify your portfolio in 2018. They may even include renouncing U.S. citizenship.

Business Tax Strategies: What Works and What Doesn't

Thu, 14 Dec 2017 07:36:47 -0600

It's mid-December and time for Solopreneurs and all independently employed professionals to think about how much money we'll hand over to the tax man this year. Tax planning is usually at top of mind as the year ends, but be advised that obsessing over taxes is not always useful. A savvy CPA and small business tax specialist recommends that you pause and carefully evaluate the impact that aggressive tax strategies would have on your financial circumstances.

Paying Inheritance Tax in the UK

Tue, 12 Dec 2017 11:05:12 -0600

Get Professional help for filling inheritance tax and disputes arise for a number of reasons, case studies and a lot more! The inheritance tax is charged nearly 40 to 50 percent and it's a very troublesome thing that rises to the surface after the death of a close family member, who leaves an inheritance behind for the family, the diseased one can be a parent or the grandparent. Following are some important things, which a person who obtains the inheritance must know.

Business Tax Return - All You Need to Know

Wed, 22 Nov 2017 08:13:04 -0600

Any running organization in a country needs to pay some amount to the government. The amount is a fixed figure and is decided by the respective government of any country. However, in many countries there is no tax on business.

11 Reasons Why Your Firm Needs a CPA Right Now

Thu, 16 Nov 2017 08:15:28 -0600

Wondering if you should hire a CPA firm for your business. Before you check for other things, don't miss these pointers mentioned in this post.

Cryptocurrency and Taxation Challenges

Tue, 14 Nov 2017 09:49:24 -0600

Cryptocurrency, as the name suggests, uses encrypted codes to effect a transaction. These codes are recognized by other computers in the user community. Instead of using paper money, an online ledger is updated by ordinary bookkeeping entries. The buyer's account is debited and the seller's account is credited with such currency.

Kansas' Experience With the Trump Tax Plan

Mon, 13 Nov 2017 15:31:20 -0600

The Trump tax cut plan is wrong in both theory and practice. Kansas tried the plan and it led to a stagnant economy, poor job growth, and staggering debt.

Snowbirds Fly the Coop to Escape the Cold

Sat, 04 Nov 2017 09:54:32 -0500

For as long as memory serves, Canadians of retirement age have been moving south for the winter to escape the cold. This group of people are lovingly referred to as snowbirds. Despite the state of the dollar, Canadians are still holding to this practice. Currently stays of four months or less have allowed Snowbirds to maintain their US tax exempt status.

Ask These Five Questions to Your Prospective CPA Firm

Mon, 30 Oct 2017 08:54:49 -0500

Looking for an accounting firm that can offer genuine assistance and services with tax related matters? Read on to find the questions that you must ask before taking the call.

The Self-Assessment Tax Filing: The Good, The Bad and The Ugly

Thu, 26 Oct 2017 09:24:33 -0500

Filing for Self Assessment is a regulatory requirement under the Ghana Income Tax Act, 2015 (Act 896), however, the enforcement of this provision is still questioned by most industry players. Despite that, does complying itself has any benefit to a business?

Things Worth Knowing About Business Setup and Consulting Services

Mon, 09 Oct 2017 08:15:02 -0500

Want to start your business? You need the assistance of a reliable business setup and consulting service. Read on to find more relevant aspects.

Using Gifts to Avoid the US Estate Tax

Fri, 15 Sep 2017 13:27:22 -0500

The U.S. estate tax and U.S. gift tax are similar but not identical taxes. The first is a tax on what a person owns at death (the estate). The tax is paid by the estate after death. The second tax is imposed on all gifts of property made during a person's life and if paid by the person making the gift (the giftor). In principle, the gift tax applies to transfers of property that would otherwise have been part of the estate and subject to estate tax at death.

GST Bill and Its Effects in India

Thu, 14 Sep 2017 14:00:13 -0500

India's greatest duty change is currently a reality. An extensive double Goods and Services Tax (GST) has supplanted the complex various backhanded assessment structure from 1 July 2017.

Everything You Need To Know About CPAs and Accountants

Mon, 11 Sep 2017 08:49:17 -0500

Looking for a CPA firm that can understand your business needs? Read on to find relevant details about CPAs and accountants and how you can hire one.

Bookkeeping Services Vs Bookkeeping Software - Which One Do You Need?

Wed, 23 Aug 2017 14:49:17 -0500

Bookkeeping is an inherently complicated and focus-intensive task that is best left to experienced professionals. Business owners' time is best invested driving the company and taking crucial decisions; financial recordkeeping thus becomes a job the owners shouldn't need to invest their time in. So, as an entrepreneur, it is a good idea to employ professionals and buy bookkeeping software to set up an in-house accounting department, or you can even choose to outsource the task of regular record keeping to an expert service agency.

Avoid These Mistakes While Hiring a CPA Firm

Wed, 23 Aug 2017 09:07:17 -0500

Selecting a CPA firm for your business can be tricky. Read on to find some of the common mistakes that small businesses and startups make while comparing services.

Here Is Why Your Small Business Needs a CPA Firm

Tue, 08 Aug 2017 08:25:56 -0500

Looking for help with tax and accounting matters, but don't have the money to hire a team of in-house accountants? Read on to find reasons why you should hire a CPA firm.

The Impact of GST on the Homebuyers

Wed, 02 Aug 2017 09:33:02 -0500

GST impact on homebuyers will be multi-fold as various taxes which are presently levied when purchasing home property such as service tax, VAT and stamp duty will either be subsumed or continue to co-exist with the newly implemented tax reform, GST. Under the current tax regime, 8-9% of taxes are levied whereas under GST, real estate sector has been placed under 12% GST tax slab.

A Startup's Quick Guide for Finding Tax and Accounting Services

Tue, 25 Jul 2017 08:18:00 -0500

Looking for tax and accounting services? Read on to find some of the important factors and aspects that matter in the long run, along with aspects related to experience and expertise.

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.

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.

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.

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.