How To Choose A Taxes Accountancy Firm If you need complex domestic plumbing carried out on your home, purchase any local plumber. If you'd like have a small business, and want small company talking to, then hire a company consultant. Of course, if you've got intricate income taxes, and want your own fees done, then hire an actual duty accountant. You actually do have all of the tax planning software applications then you can find...more
Keeping Your Tax Records: What and How Long Many taxpayers are confused about how long they should keep tax records. The term "tax records" refers to your tax returns and the documents that support the information in the returns. These documents can include receipts, bank statements, 1099s, etc. If you are one of the unlucky few to be audited, these records will be vital to fending off the IRS.Tax ReturnsTo protect yourself from a...more
The Texas Approach to Taxes There is an adage that claims that the only things certain in life are taxes and deaths. One could presume that tax laws are as easily determined and understood as one identifies death. When a person stops breathing and his brain stops functioning, he's dead. However, this is not the case with taxes. There is nothing easily understood, clear, and simple when it comes to tax laws. Thus, more tax troubles ensue not because of disregard for the tax laws but because of misinterpretation and misunderstanding of the laws. Tax collectors, indeed, have very taxing jobs. Aside from collecting taxes from people who do not want to part with their hard-earned money, they also have to ensure that these people pay their fair share. Fortunately, Texas taxes, Texas tax laws, and policies are one of the lowest and manageable among the states. There is no magic in this; Texas simply does not charge income tax for state purpose. As a result, Texas taxes are not managed by the CPA of the state but the IRS.This instance does not mean that Texas tax laws are lax and lenient. There are still several key events that tax collectors and auditors regularly deal with...more
Up With Income and Down With Tax Liability A 1031 exchange refers to Section 1.1031 of the Internal Revenue Code which was passed in 1990. Normally, when you sell all real and personal property, the tax code requires the payment of the Capital Gains Tax. That is to say, when you sell your office for $100,000 more than you bought...more
Getting all The Documentation to Your Tax Preparer Getting all The Documentation to Your Tax PreparerOne of the biggest mistakes individuals make at tax time is to be disorganized. As tax documentation begins to accumulate, it becomes a habit of many to tuck these important pieces of information away in a drawer and forget about...more
A Fair Share of Tax – A rant in four parts; Lies, Lies and Damn Statistics 1) The anarchists occupy Fortnum & MasonAccording to HMRC and HM Treasury we in the so called tax avoidance industry should be looked at and treated in the same way as the anarchists who raided F&M at the weekend. They view us as living it up on the back of performing a smash and grab on the UK economy. I must admit that we are similar with the anarchists in our desire for high class groceries, champagne and caviar but are at opposite ends of the spectrum as to how to get it.We legitimately minimise the tax burden for clients and one of the core reasons that we exist is because our clients feel that they are paying too much tax. Now, we could all say that; however for UK residents it appears that the burden for higher earners is becoming more and more intolerable - hence the flight from the UK of individuals and businesses to alternative jurisdictions where they are happy to pay tax at a sensible rate.Let's give the example of my own parents: They were both teachers in the UK for their entire working careers and retired with a reasonable pension after 40 years...more
What is Needed for Tax Preparation Hoping for a tax return this year and needing to find tax preparation in Portland? Since people can't get away from taxes, it is important to keep accurate records and receipts. Families bringing in...more
Paying Someone Else's Taxes Can Benefit You Did you know that you could make money by paying someone else's property taxes? Thirty-one states provide a little-known investment opportunity that might be perfect for you.You could...more
What Is A Tax Invoice? A tax invoice is a legal document that offers a look at what the GST is for a transaction. Read on to learn about your obligations for issuing, holding, and supplying the different types of tax invoices.You can...more
Differences Between Various Federal Income Tax Forms The Internal Revenue Service (IRS) of the United States is constantly improving the taxation system thus a remarkable change has been seen in to tax payment as well as increasing...more
It Is the Season for Tax Breaks! With April 15 rapidly approaching many are scrambling to complete their taxes. For those who have recently bought or sold a home, there are a number of tax deductions that that may be available to...more
Gibraltar as an offshore company tax haven A number of factors make Gibraltar attractive for offshore business conduct; good geographical location and bilingual (English and Spanish) territory; cost effectiveness and attractive fiscal...more