The federal tax code is complex. This complexity generally arises from two factors: the use of the tax code for purposes other than raising revenue, and the feedback process of amending the code.While its main intent is to provide revenue for the federal government, the tax code is frequently used... Read More
The knock on the door from a Tax Inspector is something that every taxpayer fears. Your immediate thoughts will be "Have I been honest with my tax returns or not". So what do you do? First, don't panic. Second, sit down and work out your next steps so you can... Read More
Media reporting of a new EU savings tax directive has left many people wondering whether European tax havens could soon become obselete.The July directive requires banks throughout Europe, including low and no tax areas such as Gibraltar, Monaco, Malta and Andorra, to disclose bank account owner information to their home... Read More
According to the IRS, taxpayers underpay their taxes by some $300 billion. If you know someone that is contributing to that deficit, the IRS may be willing to pay you up to $10 million for the information you provide. The bigger the cheating you report, the more you're likely to... Read More
Should I take wages or dividends from my privately owned corporation? What is the best way of taking money out of my company? In other words, what will result in the least amount of income taxes?A Canadian accountant will perform a dividend-salary mix calculation to determine the best way of... Read More
Recently, I stumbled across a concept that could change your financial life. You can call it a paradigm shift or a new perspective or just a different way to look at things.This single concept can save you tens of thousands of dollars each year. Its soooo powerful and yet its... Read More
Managing a business small, medium or big requires you to pay your taxes, as well as your employees taxes. Managing a payroll can be an arduous and taxing job, no pun intended. There are laws that require us to pay taxes and everyone have to comply with that. But keeping... Read More
The Sarbanes-Oxley Act, also called the Public Company Accounting Reform and Investor Protection Act of 2002 was signed into law on July 30, 2002 by President Bush. In the aftermath of Enron, Arthur Andersen, Global Crossing, and WorldCom, SOX promises greater corporate accountability and transparency. Named after Senator Paul Sarbanes... Read More
Strategic planning throughout the year results in a minimal tax balance. The objective of planning your tax payables is not to prevent paying taxes, it is to pay no more than your fair share of taxes, and keep your money where it earns you the most.If you aren't aware of... Read More
Choosing the right tax preparer for your business is a decision best not left until April. A former tax preparer and small business mastermind offers insights into the secret world of tax preparers.1. All tax preparers are not created equal.It stands to reason, somewhere in the country is the Worst... Read More
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The IRS has obtained civil injunctions against more than 100... Read More
So, you were pleasantly surprised to learn that you are... Read More
According to the IRS, taxpayers underpay their taxes by some... Read More
In the latest Star Wars episode, the evil empire executes... Read More
As we enter mid-March, taxpayers begin to become very interested... Read More
Deduction of Refinance PointsAny points that you pay in the... Read More
Practically every small business has receivables that it cannot obtain... Read More
Someone once remarked, "Next to being shot at and missed,... Read More
All states also have their own tax system. Typically there... Read More
Adding Your First Additional Stream of IncomeMost new wealth builders... Read More
Why a Corporation Helps Save You TaxesThe Tax Rates (Notice... Read More
1812The first attempt to impose an income tax on America... Read More
The end of tax filing extensions is quickly approaching. What... Read More
On June 3, 2005, the IRS released guidance on charitable... Read More
We need real tax reform and we need it now.... Read More
Many small businesses complain when confronted with the expense of... Read More
You've been feeling uneasy (perhaps even guilty) because you've failed... Read More
In the largest criminal tax case ever filed, KMPG has... Read More
At the present time a company incorporated in the Isle... Read More
Knock-Knock-KnockWho's there?The IRS!The next quarterly payment of estimated income tax... Read More
As teachers and students head back to school following a... Read More
Beware of advertisements that claim to settle tax debts for... Read More
Anyone who is closely related to an accountant knows that... Read More
OverviewIn the Pre-Budget Report of December 2003 the Chancellor Gordon... Read More
If you have recently started an Internet or home business,... Read More
Marketing is a necessary expense in running practically any business... Read More
A Federal Tax Lien (FTL) is a legal instrument that... Read More
With the massive losses caused by Katrina, the economy of... Read More
We all love to criticize the IRS, don't we? And... Read More
You're at your office, or home, and the doorbell rings... Read More
Import duties continue to be significant elements in the cost... Read More
One of the most important, but least understood or appreciated... Read More
Running a home based business reaps many wonderful tax deductions... Read More
The IRS has obtained civil injunctions against more than 100... Read More
QUESTION: I have been contacted by my local city... Read More
If your identity is stolen, your finances can quickly become... Read More
The powers of Congress, and the limitations set upon those... Read More
One of the most important, but least understood or appreciated... Read More
Newlyweds and the recently divorced should make sure that names... Read More
Just image, you are a small manufacturing company, business has... Read More
Have you been thinking about incorporating your small business or... Read More
If you are environmentally conscious and purchase a 2005 Ford... Read More
While accountants are reaching for aspirin, millions of Americans are... Read More
In trying to comply with tax laws for your e-business,... Read More
Someone once said, 'the best way to calculate your taxes... Read More
Choosing the right tax preparer for your business is a... Read More
You're at your office, or home, and the doorbell rings... Read More
One can never underestimate the enthusiasm that politicians have for... Read More
Donating your used car to charity is a win-win situation;... Read More
Most people look forward to getting their tax return, but... Read More
Media reporting of a new EU savings tax directive has... Read More
As a small business owner or self-employed person, one of... Read More
The 100 year old investment-banking firm of... Read More
As an employer, you must pay employment taxes if you... Read More
Small Businesses Filing Amended Federal Tax Returns to... Read More
With the massive losses caused by Katrina, the economy of... Read More
Six Urban Myths ? Taxation"I am proud to be paying... Read More
An early distribution from an Individual Retirement Arrangement (IRA) or... Read More
Why a Corporation Helps Save You TaxesThe Tax Rates (Notice... Read More
At the present time a company incorporated in the Isle... Read More
As a sole proprietor, it's wise to familiarize yourself with... Read More
Many taxpayers are confused about how long they should keep... Read More
As your business grows, you are going to need help.... Read More
To tax or not to tax - this question could... Read More
The end of tax filing extensions is quickly approaching. What... Read More
IRS Tax forms can be confusing.Am I a 1099 or... Read More
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