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600m Australian Oil Production Tax Loophole Exposed

600m Australian Oil Production Tax Loophole Exposed There has never been a better time for residential solar power. Prime Minister Julia Gillard is considering slashing residential solar power funding to help pay for flood damage recovery, so it's best to jump in quick in case her proposal is accepted.Electricity rates are on the rise and many Australians are discovering that residential solar power can lower those rates down...more

5 tax reliefs for Enterprise Investment Scheme

5 tax reliefs for Enterprise Investment Scheme The Enterprise Investment Scheme (EIS) was designed by the Government to provide investors with an incentive to invest in shares in small, growing, unquoted companies. Unquoted in tax terms covers AIM and Plus-quoted shares.The tax benefits of EIS are only available when new shares are bought. If the existing shares of an EIS-eligible company are bought on the secondary market then none of the tax perks are available via EIS.There are five current EIS tax reliefs:- Income tax relief – Provided an EIS qualifying investment is held for no less than three years an individual can reduce their income tax liability by an amount equal to 20% of the amount invested. The minimum subscription is £500 per company and the maximum per investor is £500,000 per annum. Where an individual subscribes for qualifying shares before 6 October in a tax year, a claim may be made to carry back one half of the amount subscribed to the previous tax year, subject to a maximum of £50,000.- CGT Deferral Relief – Tax on gains realised on a different asset can be deferred indefinitely, where disposal of that asset was less than 36 months before the EIS...more

5 Techniques To Help You With Taxes For Investors

For large number of investors and even some proficient tax professionals, wading through the complex rules of the IRS on investment taxes could turn out to be a nightmare.Not just talking of minor pitfalls, even simple errors on your part could invite severe penalties.You must remember the below mentioned five most common tax mistakes to avoid any...more

5 Reasons Why Tax Systems Fail

Tax systems are meant to bring as much revenue as possible while at the same ensure that business thrive and individuals are enterprising. However in many cases we see tax systems all over the world failing in their roles or even causing the collapse of entire economies all together. Here are five reasons why they fail:1. Failure to Reward...more

5 Reasons To Hire A Tax Attorney

Of the professionals that you can turn to for help with IRS problems, tax attorneys can most effectively help you sort through legal issues. Hiring such an expert is the quickest and easiest way to get on the right track. Here are five reasons that make them valuable and indispensable: 1. Client-attorney confidentialityAll the information you share with a tax attorney is treated as confidential, in the same way conversations with your priest and your doctor are. This is particularly crucial in trials, as they cannot be forced to testify in court to divulge what they know. You can therefore disclose all the important details, ask the most in-depth questions and brainstorm all possible scenarios without fear that these will be held against you. 2. Specialization in tax lawConsidering that taxes are based on law, a tax attorney can be your most reliable ally. While it may seem tempting, studying the tax law on your own so you can represent yourself in front of the IRS is not nearly as effective as having such a professional on your side.For one, tax law is never black or white. Knowing their way around the regulations, tax attorneys can guide you through the ambiguity, pointing out...more

5 NFL Teams that Just Might Upset

We've seen it in recent years in the NFL. With the advent of free agency and the salary cap, parity is all the rage in today's NFL. Over the past seven seasons, several surprise teams have come from seemingly nowhere to run through the...more

4506 Tax Form: Obtaining Tax Return Copies

Author: Simon Volkov4506 tax form is used by business owners and individual taxpayers to obtain copies of previous years' tax returns. U.S. tax form 4506 is also used to grant permission for release of tax records to a third party such as...more

401k Payout Tax Brackets

There's a lot you're going to need to know about taking a 401k payout and tax brackets. When you make an early withdrawal there is a large penalty. A withdrawal is categorized as early when you take any money from your retirement account...more

401K Payout Tax Brackets

401K Payout Tax Brackets more

4 Benefits of Hiring a Professional Tax Preparer

Author: James parkerPaying taxes is a heart sinking task, not only because you see your money going by, but also because it’s impossible to pay tax without proper assistance from tax professionals. You’ve got paper work to handle, fill several...more

3 Tricks To Help Reduce Your Tax Liability

Of course, patriots must pay their taxes. However, many of us usually desire to pay less that what we ought to pay. But do you know that it is legally possible to pay less than what you normally do by simply looking at various ways in which you can...more
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