Creating an offshore company is one way to protect your assets and still remain within the guidelines of the law. When you establish an offshore company what you are essentially doing is creating a headquarters for your company in an area that is tax friendly.Many countries are experiencing hard financial times. They have over spent and it is now time to pay their debts. However, there is not enough tax money to do this. These same countries are...more
Those that fall into the higher earners bracket have been warned that the government may impose further restrictions to pension savings in the emergency Budget on June 22.Accountants and wealth advisers have reported a surge in calls from clients that earn over 100,000 per year who are concerned that changes to pension tax relief might restrict how much they can save for retirement.The rules that set the boundaries around how much high earners...more
In recent years, the IRS has made a concerted effort to get people back into good status by reaching deals on overdue taxes. The rules affecting this program have just changed dramatically. Changes to IRS Tax Settlement RulesThe IRS used to be the terror in most peoples nightmares. Specifically, people who got behind on their taxes lived in dread of having the IRS catch up with them and freeze their bank account, sell off their home and so on. To promote voluntary resolutions, the IRS instituted a program known as the offer in compromise. The offer in compromise program was designed to let taxpayers with back tax problems resolve their problems voluntarily. Instead of waiting for the IRS to catch up to them, taxpayers could come forward and essentially admit their sins. In exchange for this voluntary action, the IRS would consider a reduction of the amount past due including penalties and interest. To be frank, the program was a massive success. Starting July 16, 2006, the offer in compromise program is undergoing changes pursuant to a new federal law. Ironically, the small government Republican majority in Congress pushed through this nasty piece of legislation known...more
In the largest criminal tax case ever filed, KMPG has copped a plea to using fraudulent tax shelters to bilk the government out of 2.5 billion dollars. KMPG has agreed to pay a fine of $456 million dollars, but nine of its executives still are under indictment.Son of Boss Tax SheltersFrom 1996 to 2003, KMPG promoted a tax strategy...more
There are many websites on the Internet today that gives much needed income tax help for those who have no idea of what's going on during tax time. Income tax is a tax paid on income, unfortunately no matter how little it is. It's paid by employees and people who are self-employed and may also be payable if you are not working but you...more
It is unfortunate but true, that many people do not even consider consulting a tax attorney until they open their mailboxes one day and there is that dreaded letter from the IRS. A tax attorney is a lawyer that specializes in all areas of taxes. The tax attorney is required to attend law school for one to three more years, after regular law school, to receive their Masters in taxation.The IRS has its own group of experienced tax attorneys, so if there is ever a time when you need to face the IRS for any reason, it is imperative that you have your own tax attorney with you. A tax attorney has all the tools and means necessary to handle any tax matters that come up during any tax disputes or issues.If you have been contacted by the IRS and are looking to retain the services of a tax attorney, there are certain things to keep in mind when looking for the right one.First, you need to choose a tax attorney that has extensive knowledge and experience in all areas of taxation. This means your chosen tax attorney should be up to date on all tax regulations, laws, recent and past tax court cases, recent and past tax rulings, appeal procedures, audit procedures, tax litigation...more
In today's economic hardship the changes seem giant. Just last year a number of tax laws were made to bail us out of dire situations. These are a few new tax laws that you should know about.The first is about new car sales and tax deductions. If you...more
Tom Brady hate the New York Jets Jerseys,Rex Ryan did not like the New England Patriots,this confrontation before the start of the season playing on the big war of words,and their two real battle until about 4 weeks after.Monday,Brady participated in...more
If you have any question regarding Form 1040 or seeking relevant information on this subject than this article will prove to be very helpful for you. In this article, we will highlight some of the most vital aspects of filing federal...more
Every year the number of people paying taxes increase. With this, also increase the number of people who file their taxes late. In case of late payment of taxes ones needs to file for a federal tax extension. For people who are already...more
Have you experienced to be one of those people who needs immediate tax relief help? If you are, then there is nothing to worry. There are numerous solutions outlined for you. In this type of set-up, it is where what you know is...more
So your a fan of the NFL and NFL jerseys you love. Maybe you are looking for a great NFL jersey for you, maybe you want to buy a big T-shirt for a gift. But Teresa few things you should know before you buy jersey.if to his first NFL...more