St Petersburg #tampa #tax #lawyer


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The Clearwater, St. Petersburg, Tampa Law Offices of Anne F. Borghetti, PA

Call 727-502-0300 for representation on Federal and State criminal charges

St Petersburg/Tampa Federal Criminal Defense Attorney Anne F. Borghetti

Welcome to the law offices of Federal Criminal Lawyer, Anne F. Borghetti.

Have you been arrested?

Are you under investigation for a federal or state criminal offense?

You may be able to avoid or reduce the charges against you.

Call Anne F. Borghetti today at 727-502-0300.

Your Best Defense is Federal and State Criminal Trial Lawyer, Anne F. Borghetti.

Knowledge and experience in Criminal Defense Law is important for you to receive proper representation in this difficult time. Federal and Florida State Criminal Attorney Anne F. Borghetti is an experienced and accomplished trial lawyer who has been practicing criminal defense law for over 24 years. In that time she has represented clients in thousands of cases, achieving acquittals for many of her clients.

Federal Crimes Lawyer Anne F. Borghetti

Ms. Borghetti personally handles every aspect of her clients’ legal issues. She has extensive experience in State snd Federal Criminal Courts. Defend yourself now by putting her trial and pre-trial skills to work on your team. Whether your case is pending in the Northern, Southern, or Middle District of Florida, Ms. Borghetti has the ability to present a strong defense for you.

Tampa, St Petersburg, Clearwater Criminal Trial Law

Attorney Anne F. Borghetti has been practicing criminal defense law in the Tampa Bay area for her entire professional career. She is currently admitted to practice in all State and Federal courts in Florida and Massachusetts. She represents clients throughout the Tampa Bay area including Pinellas, Hillsborough, Pasco, Manatee and Sarasota counties.

Criminal Law Practice Areas

Legal Services Profile

Put my experience to work for you

If you have been arrested, indicted or contacted by law enforcement as a person of interest or a target in a criminal investigation, call me at 727-502-0300. I offer a free initial consultation to determine how I can best help you with your defense.

Phone: 727.502.0300

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Optima Tax Relief Review: Alan Thicke Recommends, but Should You Buy? Tax


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Optima Tax Relief Review: Alan Thicke Recommends, but Should You Buy?

We get many calls from people that almost hired Optima Tax Relief, and we find that most people did not like what they heard from them. In this review we will go over the information we have learned about Optima Tax Relief s fees and practices based on reviews placed on the internet (and those that have mysteriously been not recommended by Yelp), information clients have told us when they spoke to Optima first, and a former employee of Optima.

Optima Tax Relief Fees

The fees for Optima Tax Relief seem to range from $950 for a basic case review with no resolution, to upwards of $18,000. We have heard some people quoted a monthly rate of $450 with a $950 initial fee, and others have been quoted flat fees, typically in the range of $5,000. According to Laura K. on Yelp, she Paid them $15,000.00, you read that right and in two years they literally have not done much to assist, just pawn my case off to someone else, then someone else etc.

Our fees at TRP are much less, with us starting most cases for $375.

Why the huge fees from Optima? Most of it is probably due to advertising. If you hear it on the radio, you generally are paying more for it. Radio advertised companies have a very high customer acquisition cost. When you hear Alan Thicke recommend Optima Tax Relief, that endorsement cost is passed right onto your case fee.

Tax return preparation is also a high fee Optima charges. As with any tax relief firm, if you are quoted on tax preparation for your case before they have looked at the data, be sure you are being charged the highest rate for tax preparation and not actually based on the amount of schedules required to complete.

Why are the fees substantially lower from TRP? We do not have high customer acquisition costs and do not do radio advertising. Half of our business comes from referrals and half comes form internet searches.

Optima Tax Relief is Not a Law Firm

When you hire Optima, you are hiring a sales company with a revolving door when it comes to employees. Cases are constantly handed off from one representative to the other and people are constantly quitting. The people working at Optima have no personal obligation to complete your case. Should Optima Tax Relief have a bad financial year and shut down, the client is out of luck and their case could be incomplete. Recent tax relief firms that have closed include JK Harris, Nationwide Tax Relief, American Tax Relief, and many others, leaving their clients in the dust. Additionally, much, if not all of your communication with these tax relief firms is not covered by an attorney-client privilege.

When you hire a tax law firm like Tax Resolution Professionals, the firm cannot just close down and not finish your case. The attorneys assigned are obligated to complete your case from start to finish, regardless of how this month s sales are. Most tax relief firms are running month to month financially, and could close at any time.

Optima Tax Relief Reviews

Optima has the appearance of good reviews, but once you click the Not Reccomended Reviews on Yelp one can see their true complaints. Yelp s Not Reccomended Reviews are often some of the best reviews to see if a company is legitimate. It is thought by many that those who pay for Yelp advertising have one star reviews thrown into the not recommended category, if this is true, Optima is good proof of this. In Optima s not recommended reviews, there are over 100 reviews of 1 star .

Here are some key complaints from former clients:

From Susan B. who felt Optima did nothing for her, They reduced NO penalties, NO interest. my balance is higher, and I can t get answers on how long I m supposed to pay this exorbitant amount, and I m out 5,000!I would NEVER recommend this company to anyone. They ruined my life. If I could give NO stars I would.

From Jervey H. who found out from a lawyer he later hired, that Optima did not even work on his case, Optima took us for a total of $18,500 before we finally fired them. Then we hired another lawyer that only charged us $2500 to go to the IRS and work out a payment. Optima refused to give us our money back. Even after the IRS told us that optima had never even contacted them, they wouldn t.

The list goes on and on of unhappy customers.

From a Former Employee

We spoke with a former employee of Optima, who had some OK things to say about it. In this industry there are many tax relief companies that literally take your money and do nothing, so its refreshing to hear that Optima does actually work on your case. They said that Optima does have a high turnover and cases do get passed on to different people. This could explain some of the complaints where people felt their case was not worked on.

Optima is a boiler room sales scenario. High pressure salespeople take the consultation calls, not anyone licensed to actually help you. This usually leads to unhappy customers, as clients are promised one thing then delivered something else.

Better Off Hiring a Tax Law Firm

If you were thinking of hiring Optima Tax Relief, you are much better off hiring a qualified tax law firm and having a consultation with an actual tax attorney. The consultation and subsequent case is then covered by attorney client privilege and the law office can t just close on you leaving you to deal with your own IRS or State tax case.

If you are only receiving Social Security, Disability, or otherwise have a fixed, low income with no assets, you may want to try doing an Offer in Compromise yourself. You can see our Offer in Compromise guide for help with this.

If you have a tax lien and already have paid off the debt or are in a payment plan for less than $25,000, please see our guide: How to Withdraw A Tax Lien .

Need help with your back due tax debt? Call (888) 515-4TAX (4829) or fill out our contact form at taxresolutionprofessionals.com and you will have a free, no obligation consultation with one of our expert tax attorneys!

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How to Report Tax Fraud, Evasion to IRS #report #a #tax #cheat


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How to Report Tax Fraud to the IRS

We receive questions every day about how to report tax fraud (or report tax evasion ). Reporting tax fraud happens in two different ways, both of which require submitting written documents to the IRS. There is no centralized “IRS Fraud Hotline ” to call, the IRS is only set up to accept this kind of information in writing. The two reporting options are: to submit a Form 3949A “tip form” to the IRS in which you give them the information you have; or you can submit a Form 211 “award claim form” to the IRS in which you provide information to the IRS that will help them detect an underpayment of tax, which makes you eligible for a whistleblower award if they collect tax based on your information. These same options apply whether you are reporting tax evasion, corporate tax underpayments. abusive tax shelters. uncertain tax positions. or even math errors.

There are additional considerations when reporting tax fraud or deciding whether whistle blowing is the right thing to do, and even more to consider when trying to figure out which of these alternatives would be the best method. Anonymity, security, protecting confidentiality. availability of evidence, and the type and size of the tax issue are just a few things to keep in mind when considering blowing the whistle or reporting tax fraud. If you are a professional in the tax or accounting field there are additional factors to consider which will be critical to the potential success of your claim.

Confidential Consultations, Nationwide Practice — 1-800-275-3332

Take steps to protect your rights and interests as an IRS whistleblower. For questions regarding how to report tax fraud, call or contact us directly at our Washington, D.C. or Miami, Florida, area offices to speak confidentially with one of our attorneys.

Call today for a confidential consultation with one of our tax attorneys about reporting tax evasion or tax underpayments.

The Ferraro Law Firm

IRS Tax Whistleblower Attorneys

Washington, D.C.
3050 K Street, NW, Suite 215
Washington, D.C. 2007

Miami
600 Brickell Ave. Suite 3800
Miami, Florida 33131


Home-Equity Loan #home #equity #loan #interest #tax #deductible


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Home-Equity Loan

What is a ‘Home-Equity Loan’

A home-equity loan. also known as an “equity loan,” a home-equity installment loan. or a second mortgage. is a type of consumer debt. It allows home owners to borrow against their equity in the residence. The loan is based on the difference between the homeowner’s equity and the home’s current market value. Essentially, it is a mortgage, and it also provides collateral for an asset-backed security issued by the lender and tax deductible interest payments for the borrower. As with any mortgage, if the loan is not paid off, the home could be sold to satisfy the remaining debt.

Home-equity loans exploded in popularity after the Tax Reform Act Of 1986. as they provided a way for consumers to somewhat circumvent one of its main provisions, which eliminated deductions for the interest on most consumer purchases. The big exception: interest in the service of residence-based debt. Today, with a home-equity loan, homeowners can borrow up to $100,000 and still deduct all of the interest when they file their tax returns (assuming they make itemized deductions ).

How Big are Home-Equity Loans?

How much someone can borrow is partially based on a combined loan-to-value (CLTV) ratio of 80% to 90% of the home’s appraised value. The amount of the loan, as well as the rate of interest charged, will of course also depend on the borrower’s credit score and payment history.

BREAKING DOWN ‘Home-Equity Loan’

Home-equity loans come in two varieties – fixed-rate loans and lines of credit. Fixed-rate loans provide a single, lump-sum payment to the borrower, which is repaid over a set period of time (generally five to 15 years) at an agreed-upon interest rate. The payment and interest rate remain the same over the lifetime of the loan. They must be repaid in full if the home on which they are based is sold.

Benefits for Consumers

Home-equity loans provide an easy source of cash. Obtaining one is quite simple for many consumers because it is a secured debt. The lender runs a credit check and orders an appraisal of your home to determine your credit worthiness and the combined loan-to-value ratio.

The interest rate on a home-equity loan – although higher than that of a first mortgage – is much lower than that on credit cards and other consumer loans. As such, the number one reason consumers borrow against the value of their homes via a fixed-rate home-equity loan is to pay off credit card balances (according to bankrate.com). Interest paid on a home-equity loan is also tax deductible. as noted earlier. So, by consolidating debt with the home-equity loan, consumers get a single payment, a lower interest rate and tax benefits .

Benefits for Lenders

Home-equity loans are a dream come true for a lender, who, after earning interest and fees on the borrower’s initial mortgage. earns even more interest and fees. If the borrower defaults. the lender gets to keep all the money earned on the initial mortgage and all the money earned on the home-equity loan; plus the lender gets to repossess the property and sell it again. Even if it didn’t finance the first mortgage, the lender is making a secured loan. which can be more advantageous than the typical unsecured or personal loan. From a business-model perspective, it’s tough to think of a more attractive arrangement.

The Right Way to Use a Home-Equity Loan

Home-equity loans can be valuable tools for responsible borrowers. If you have a steady, reliable source of income and know that you will be able to repay the loan, its low interest rate and tax deductibility makes it sensible alternative.

They’re generally a good choice if you know exactly how much you need to borrow and what you’ll use the money for. You’re guaranteed a certain amount, which you receive in full at closing. “Home-equity loans are generally preferred for larger, more expensive goals such as remodeling, paying for higher education or even debt consolidation since the funds are received in one lump sum,” says Richard Airey, a loan officer with Finance of America Mortgage in Portland, Maine. Of course, when applying, there can be some temptation to borrow more than you immediately need, since you only get the payout once, and you don’t know if you’ll qualify for another loan in the future.

Recognizing Pitfalls

The main problem is that home-equity loans can seem to be an all-too-easy solution for a borrower who may have fallen into a perpetual cycle of spending, borrowing, spending and sinking deeper into debt. Unfortunately, this scenario is so common the lenders have a term for it: reloading. which is basically the habit of taking out a loan in order to pay off existing debt and free up additional credit, which the borrower then uses to make additional purchases.

Reloading leads to a spiraling cycle of debt that often convinces borrowers to turn to home-equity loans offering an amount worth 125% of the equity in the borrower’s house. This type of loan often comes with higher fees because, as the borrower has taken out more money than the house is worth, the loan is not secured by collateral. Furthermore, the interest paid on the portion of the loan that is above the value of the home is not tax deductible.

If you are contemplating a loan that is worth more than your home, it might be time for a reality check. Were you unable to live within your means when you owed only 100% of the value of your home? If so, it will likely be unrealistic to expect that you’ll be better off when you increase your debt by 25%, plus interest and fees. This could become a slippery slope to bankruptcy .

Shop Around

Because home-equity loans don’t involve as large sums as mortgages, it’s easier to compare terms and interest rates. When looking, “don’t focus solely on large banks, but instead consider a loan with your local credit union ,” recommends Movearoo.com Real Estate and Relocation Expert Clair Jones. “Credit unions sometimes offer better interest rates and more personalized account service if you’re willing to deal with a slower application processing time.”

As with a mortgage, you can ask for a good faith estimate. But before you do, make your own honest estimate of your finances. Casey Fleming, mortgage advisor at C2 Financial Corporation and author of “The Loan Guide: How to Get the Best Possible Mortgage,” says, “You should have a good sense of where your credit and home value are before applying, in order to save money. Especially on the appraisal [of your home], which is a major expense. If your appraisal comes in too low to support the loan, the money is already spent” – and there are no refunds for not qualifying.

Just because it’s for a smaller amount of money doesn’t mean that you won’t go through an application process. According to Sahakian, in addition to providing proof of ownership and equity availability, you will need pay stubs for at least the past month, two years of tax returns. three to six months of bank statements, proof of identity and possibly other documentation.

Run the Numbers

If you qualify for the loan, be sure you understand how it works. Traditional home-equity loans have a repayment term, just like regular conventional mortgages. You make regular, fixed payments covering both principal and interest. That’s pretty straightforward.

Before signing, though, you should run the numbers with your bank and make sure the loan’s monthly payments will indeed be lower than the combined payments of all your current obligations. Even though home-equity loans have lower interest rates, your term on the new loan could be longer than that of your existing debts.

For example, if you have an auto loan with a balance of $10,000 at an interest rate of 9% with two years remaining on the term, consolidating that debt to a home-equity loan at a rate of 4% with a term of five years would actually cost you more money if you took all five years to pay off the home-equity loan. Also, remember that your home is now collateral for the loan instead of the vehicle, so if you default on the home-equity loan, your home is at stake, not your car. Losing your home would be significantly more catastrophic.

For that reason alone you should try to pay as much as you can on the loan every month to protect your residence from foreclosure. Before doing something that puts your house in hock (or deeper in hock), weigh all of your options. And if you’re getting the loan to pay off plastic, resist the temptation to run up those credit card bills again.


New tax system for self-employed will – seriously harm economy #money,self #employed


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New tax system for self-employed will ‘seriously harm economy’

26 March 2017 • 6:50am

P lans to force millions of self-employed people to file multiple tax returns each year become reality from next week in the face of blanket opposition from taxpayers, business groups and senior political figures across all parties.

Worst-hit will be the self-employed with turnovers of more than £85,000, who from April 2018 will have to file at least five returns per tax year. That will be in addition to regular VAT returns.

Accountants predict that under the new regime – called making tax digital – those affected will face a tax deadline of one sort or other in most months of the year.

The scheme begins this April with a pilot ramping up to include hundreds of thousands of businesses , according to the Treasury.

Individuals and landlords with turnovers lower than £85,000 were given a reprieve in the Budget earlier this month. They will only move into the system from April 2019, Philip Hammond said.

Groups representing creative arts, farmers, landlords and small businesses across other sectors have attacked both the plans and the rapid timetable of introduction, even with this Budget concession.

Michael Grade, former head of ITV and Conservative peer, told the Sunday Telegraph. The creative sector of our economy drives social mobility, jobs, exports and tax revenues. Now HMT has come up with the idea of making all their lives impossible with a new system for filing their tax returns on a quarterly basis. I can find no evidence from any informed source that this is anything but damaging to our creative population.

T he National Union of Farmers, the Residential Landlords’ Association and a number of representatives of the accounting profession are also among those objecting to the plans.

The Federation of Small Businesses says HMRC has significantly underestimated the costs to business and wants the new regime to be on an opt-in basis.

Earlier this month an influential House of Lords committee, whose members include former chancellor Norman Lamont, added its criticism, saying the Government’s proposals were based on fragile and inadequate evidence.

Leftwing tax academic Richard Murphy, Professor of International Political Economy at City University in London, said this attack on the self-employed was the latest in a series of moves aimed at cutting costs at HMRC.

HMRC has clung to a naive belief stemming from the Blair era that technology can solve all problems, he said. This policy will be whacking those who are already complying with tax rules or at least partially complying, rather than going after that large population who aren’t paying tax at all.

By Prof Murphy’s calculations quarterly reporting will cost businesses several days of lost work per year. This will deliver a hit to GDP with no benefits at all to the Exchequer, he said. The tax authorities are entirely out of touch with how businesses work.

A leading accounting group, Smith Williamson, put the cost per small business client at around £2,000 per year.

H MRC argues the shift will be coupled with software which will assist businesses make efficiencies.

The Treasury maintains Mr Hammond’s delay by one year for 3m smallest businesses addresses critics’ concerns.

It said quarterly returns will be light-touch, including only summary information, and will be produced direct from the business’ digital records.

It maintains the reason for implementing the change is to capture tax lost to errors made by small businesses, which it estimates would mount to £8bn per year by 2019-20.

A spokesman said: HMRC published its impact assessment for the programme in January outlining that there will be an average one-off transitional cost of £280 per business, followed by small ongoing annual savings. This is in addition to the benefit to businesses of having a clearer in-year view of their tax position and more confidence they have got their tax right.


Cloud tax – upsets Chicago tech community: Life just got 9 percent


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‘Cloud tax’ upsets Chicago tech community: ‘Life just got 9 percent harder’

Chicago’s new 9 percent tax on streaming and cloud services appears to have the local technology community agitated and, more than anything, confused.

Reports on Wednesday of the “cloud tax” took many Chicagoans by surprise, leaving providers and consumers of streaming and cloud services scrambling to understand the implications. Technology companies, among the heaviest users of cloud services, are likely to be taxed for the services they use as well as those they provide.

The cloud tax extends ordinances governing two types of taxes — the city amusement tax and the city personal property lease transaction tax. The taxes cover many products streamed to businesses and residents. They also cover use of various online databases that could especially affect businesses.

The city expects the taxes to bring in about $12 million a year.

Adrian Holovaty, founder of music-education web platform Soundslice. said he doesn’t know how the tax changes affect his business.

Holovaty’s questions include which of his subscribers should be taxed; whether he should be tracking his user’s physical locations; and how the city will enforce tax collection.

“I’m trying to hold off on being frustrated or angry until I actually understand what the new rules are,” Holovaty wrote in an email to Blue Sky. “But at face value, it seems like this new policy flies in the face of Mayor Emanuel’s efforts to build the tech community here.”

Confusion is driving widespread anger over last week’s quiet enactment of a “cloud tax” in Chicago, said Harper Reed ⇒. technologist and CEO of mobile commerce startup Modest.

“We need clarity on what it actually means, what it actually means for all of us,” Reed said. “What, as businesses, we.

Confusion is driving widespread anger over last week’s quiet enactment of a “cloud tax” in Chicago, said Harper Reed ⇒. technologist and CEO of mobile commerce startup Modest.

“We need clarity on what it actually means, what it actually means for all of us,” Reed said. “What, as businesses, we.

Several in the Chicago tech industry criticized the mayor and the city for creating an environment that they see as less friendly to tech startups than other places around the country.

Terry Howerton ⇒. co-founder at TechNexus, a private-sector venture collaborative, said the rulings do not properly define categories such as “cloud computing,” leaving them open to apply to almost any company.

“Every tech startup in Chicago is either using cloud computing services or selling them, and the city being the first to set this precedent puts us at a disadvantage to every other major tech hub. or even our own suburbs,” Howerton wrote in an email to Blue Sky.

Blagica Bottigliero, an Oak Park resident and longtime member of Chicago’s tech community who now serves as VP of digital media for California-based Metaverse Mod Squad, said the additional tax makes Chicago a less attractive location for startups.

John Byrne and Amina Elahi

Chicagoans who pay to stream movies and music from services like Netflix and Spotify will now need to fork over an additional 9 percent for the privilege, as will Chicago businesses that pay to use everything from real estate to court databases online, under a decision the city quietly made recently.

Chicagoans who pay to stream movies and music from services like Netflix and Spotify will now need to fork over an additional 9 percent for the privilege, as will Chicago businesses that pay to use everything from real estate to court databases online, under a decision the city quietly made recently.

(John Byrne and Amina Elahi)

“I wouldn’t be surprised if people look at other alternatives of places to go to that are near the city,” Bottigliero said.

She said she understands that the city needs to add revenue but that doing it this way hurts startups.

Michael Reever, VP of government affairs at the Chicagoland Chamber of Commerce, criticized the taxes as quick, insufficient fixes to larger fiscal problems.

“Given the economic climate and the economic picture, this is a step backward to making Chicago a tech hub,” Reever said.

Justin Massa ⇒. founder of restaurant data startup Food Genius, said his company has been using cloud services efficiently but that they remain his second-biggest expense after labor. Food Genius can handle the 9 percent cost increase for those services, Massa said, but it’s “not insignificant.”

Beyond the additional dollars Food Genius will owe, Massa expressed concern about how the tax will affect sales. Food Genius customers pay a subscription to access its cloud-based database.

“To customers that we call on in the city of Chicago, we just got 9 percent more expensive,” Massa said. “For anyone selling cloud services, life just got 9 percent harder.”


The Present Value of the Tax Shield (PVTS) for FCF in Perpetuity


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The Present Value of the Tax Shield (PVTS) for FCF in Perpetuity With Growth

Duke University – Duke Center for International Development in the Sanford School of Public Policy

Date Written: December 2002

Abstract

The discount rate for the tax shield depends on the risk of the tax shield. If the tax shield is risk-free, then the appropriate discount rate for the tax shield is the risk-free rate rf. If the debt is risky, then we must make the distinction between the contractual return and the expected return on the debt.

In this paper, using a simple numerical example, we illustrate the calculation of the present value of the tax shield (PVTS) for a free cash flow (FCF) in perpetuity with a constant growth rate g. We assume that the tax shield is risk-free and the debt is risky. Most importantly, we model explicitly the risk of the tax shield and the debt with a stochastic process.

In addition, the net incomes for the unlevered and levered firms are not equal to the corresponding cash flows for the unlevered and levered firms. Consequently, the discount rates for the taxes paid by the unlevered and levered firms are not equal to the return to unlevered equity Ku and the return to levered equity Ke, respectively. Without a specific stochastic process, it would not be possible to calculate the discount rates for the taxes paid by the unlevered and levered firms.

Keywords: Present value of the tax shield, risk neutral valuation

JEL Classification: D61, G31, H43

Suggested Citation: Suggested Citation

Tham, Joseph, The Present Value of the Tax Shield (PVTS) for FCF in Perpetuity With Growth (December 2002). Available at SSRN: https://ssrn.com/abstract=360080 or http://dx.doi.org/10.2139/ssrn.360080

Duke University – Duke Center for International Development in the Sanford School of Public Policy ( email )

Box 90312
302, Towerview Dr, Rubenstein Hall, Room 272
Durham, NC 27708
United States
919-613-9234 (Phone)
919-681-0831 (Fax)


Tax lawyer fees #tax #lawyer #fees


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From the Wild West to the National Airspace System: Roadmap for Integration of Unmanned Aircraft into the National Airspace System By David Cain, J.D.1 I. History of Aviation – Unde Vinimus A. Unmanned Aviation i. Early Unmanned Efforts: From Tethered Flight to World War I ii. The Golden Age: Unmanned Flight from World War I [ ]

Have you received an email with the subject: Delivery notification Parcel delivery failed After a few lines of pretend-data, the notice gives you the opportunity to click on a link to https://tools.usps dot [wait for it] COM! Guess what? That s a scam. According to an official United States Postal Service source, a number [ ]

Washington, D.C.—Mesa Airlines pilots, represented by the Air Line Pilots Association, Int’l (ALPA), filed a lawsuit against Mesa Airlines Inc. in the United States District Court for the Eastern District of Virginia. The lawsuit alleges that Mesa bypassed the collective bargaining process required by the Railway Labor Act ( RLA ) by implementing bonus and incentive programs without [ ]

The Railway Labor Act (“RLA”), which codifies the law of labor relations affecting railroad and airline¹ workers in the United States, can be found at 45 U.S.C. §§ 151-188 [research it]. The RLA came into being in response to a series of violent railroad strikes² during the late nineteenth and early twentieth centuries. Passed in 1926 after evolving [ ]

February 24 2017

Definition: (noun) A document which allows one person to act for another. Uses: Can be a general power of attorney, which allows one person to act as the other in every respect. This would most commonly occur when the person granting power of attorney anticipates becoming unable to act for him or herself, either due [ ]


Maryland Tax Attorneys #dallas #tax #attorneys


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Maryland Tax Lawyer & CPA

IRS Tax Attorney Provides Representation in MD, DC Metro, VA, and Nationwide

As a Tax Attorney and Certified Public Accountant, I am well versed in the procedural and substantive tax rules necessary to successfully represent clients involved in IRS litigation, IRS audits, Foreign Bank Account Reporting (FBAR), collection matters, and criminal investigations.

My years of working as an auditor and forensic accountant, coupled with my tax background, allow me to come up with creative strategies to solve IRS tax problems. I have defended individuals and businesses involved in the most challenging state and federal tax controversies.

Although an IRS problem may seem insurmountable and never-ending at times, they can frequently be solved with a well thought out strategy. Often times, achieving a successful outcome in an IRS case hinges upon the discretion of the individuals who are assigned to the case within the IRS.

As a lawyer who exclusively practices in the area of tax controversies, I understand the need for balancing an aggressive approach with the need for developing a strong rapport with the assigned agent. This balance allows me to achieve excellent outcomes for my clients, while protecting them from potential catastrophes.

I frequently handle complex cases in the following areas: IRS examination, IRS tax levy, tax lien, wage garnishment, collection due process hearing, collection appeal, offer in compromise, requests for penalty abatement, payroll tax delinquencies, trust fund recovery penalties, foreign bank account reporting requirements (FBAR) and allegations of white collar crime including money laundering, currency structuring, willful failure to file, and willful failure to pay.

Though I represent taxpayers throughout the U.S. and abroad, my main office is located in Columbia, Maryland, part of the Washington D.C. metro area. I also have established locations for meeting clients in Annapolis, Baltimore, and the Eastern Shore of Maryland. Other locations outside of the State include: Miami, Las Vegas, Nevada, Austin, Texas, Houston, Texas, and Richmond, Virginia. In many instances, it is not necessary to meet with clients in person, as communication by phone, fax, or E-mail may be more than sufficient.

I hope the information I have compiled on this website is helpful for you to gain an understanding of the common issues that occur during a tax controversy matter. The tabs on the left detail the common practice areas and provide insight into potential strategies used to solve an IRS tax issue. Often times, one engagement will embody several of these practice areas. Moreover, I have added some resources including IRS Forms and information that may be helpful for taxpayers. If you would like to discuss your case, please feel free to call me at 410-497-5947 for a free consultation, or submit your information in the box to the right, and I will call you. I look forward to a successful resolution of your IRS tax case!

IRS Penalty Relief


Tax Attorney Sacramento, Tax Relief Attorney – MW Attorneys #christian #tax #attorney


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A skilled tax attorney in Sacramento and Modesto is here to help you, every step of the way

After trying to resolve my Tax debt for many years to no avail I found Montgomery Wetenkamp. My debt had escalated to over $80,000.00. Within 10 months they negotiated with the IRS on my behalf and it was settled for $955.00. A little over 1% of the debt. Give them a call and let their law firm do the rest. Thank you just doesn’t seem like enough.

Christian turned an impossible situation with the Franchise Tax Board of California to a total win for my wife and I. We found him easy to communicate with. He kept us informed every step of the way and was very responsive and compassionate to our questions, and obtained excellent results in our legal matter. He has earned our highest possible endorsement.

Attorney Advertisement. Tax Attorneys Montgomery Wetenkamp are licensed by the State Bar of California, are licensed attorneys authorized to practice before the United States Tax Court, and may practice before the Internal Revenue Service (IRS) as attorneys in all 50 states. Sacramento Tax Attorneys and Modesto Tax Attorneys Montgomery Wetenkamp perform all services in Sacramento, California and Modesto, California. The content of this website is for informational purposes only and does not constitute legal advice. The tax information contained on this website, is not intended to be used, and cannot be used, referred to or relied upon, for the purpose of avoiding tax-related penalties under the Internal Revenue Code or promoting, marketing, or recommending to another party any tax-related transaction or matter addressed herein. Past successes cannot be an assurance of future successes because each case must be decided on its own merits and will differ if based on different facts. Full disclaimer provided on our disclaimer page and is incorporated herein by reference.

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Tax relief attorneys that will fight for you

Don’t fight the IRS alone. Get the power of an IRS tax attorney to obtain the IRS tax relief you deserve, nationwide.

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Tax Deductions for Research and Experimental Costs #income #tax #lawyers


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Tax Deductions for Research and Experimental (R & D) Costs

New or improved products don t appear out of thin air. Businesses must spend time and money on research and development (R D) to create them. It can take years for R D expenditures, which can be substantial, to result in marketable products. As an incentive for businesses to keep investing in R D, the tax law provides favorable tax treatment for research and experimental costs. In most cases, you can currently deduct these costs or deduct them over five or ten years.

The words R D expenditures often conjure up huge corporations that spend millions to develop new products in massive laboratories or research centers. However, the R D deduction is available to even the smallest one-person business that engages in research and development of new products.

What Are R D Costs?

R D costs are the reasonable costs you incur trying to figure out how to create or improve something in the experimental or laboratory sense. In IRS jargon, they’re costs for trying to obtain the information you need to eliminate uncertainty about creating or improving a product. Uncertainty exists when the existing information you have doesn’t show you how to design, make, or improve the product. You can deduct R D costs whether or not they result in a product that is ultimately sold or used in your business.

The R D deduction is available to even the smallest one-person business that engages in research and development of new products.

To obtain favorable tax treatment, these costs must incurred to develop or improve a product. Products can include:

  • formulas
  • inventions
  • pilot models
  • computer software, and
  • processes and techniques.

You can deduct expenses like salaries, materials, operating costs, and the costs of obtaining a patent from the U.S. Patent Trademark Office (including attorneys’ fees paid to file a patent application). You can also deduct the cost of hiring someone else to perform R D on your behalf, such as an outside contractor, engineering firm, or research institute.

Generally, long-term assets like equipment, machinery, or real estate are not deductible as R D expenses. Instead, you depreciate, expense, or otherwise deduct the cost of such items the same as any other long-term asset.

R D expenses also don’t include costs for:

  • advertising or promotions for products
  • quality control testing
  • consumer surveys
  • management or efficiency studies
  • research for literary, historical, or similar projects, or
  • acquiring someone else’s patent, production, or process.

Once your uncertainty ends and the new or improved product is developed, your R D expenses end. In other words, you can’t deduct production costs for a product as R D costs.

Tax Options

Under regular tax rules, R D costs are capital expenses and aren’t deductible until the research project is abandoned or deemed worthless. However, if your R D costs qualify for special tax treatment, you have the option of deducting them all in a single year or deducting the cost a portion at a time over several years through amortization or a write-off. You have to tell the IRS how you’re going to treat your R D costs by making an election on your tax return.

Current Deduction

Most taxpayers want to deduct as much as they can in a single year, so they elect to treat R D costs as a current business expense. This enables you deduct the entire amount in the year the costs were incurred. You may take this deduction whether or not you make any money from your research efforts during the tax year. This deduction can be particularly beneficial for start-up businesses because it allows them to deduct R D expenditures before their business actually begins and before the R D efforts result in revenue.

Example: Michael, a budding sole proprietor beekeeper, invents a new revolutionary type of beehive. This year he spent $10,000 to develop a prototype and obtain a patent. He may deduct the entire amount this year as an R D expenditure on his Schedule C, Profit or Loss From Business.

If you don’t elect to currently deduct R D costs in the first year, you must get IRS permission to deduct them later. Also, once you make the election to deduct, you can’t change it unless you get IRS approval.

Five-Year Amortization

Amortization means you deduct a portion of a cost every year over a period of years. If you elect to amortize your R D expenses, you deduct them in equal amounts over 60 months or more. The amortization period begins with the month you first receive an economic benefit from the costs.

In order to amortize, the R D costs:

  • must be chargeable to a capital account or an account holding the business’s assets (in other words, your business has to pay for the R D, you can’t pay for it from your personal funds)
  • must be connected to your trade or business, and
  • can’t be deducted as current business expenses.

You elect amortization by completing Part VI of Form 4562 and attaching it to your tax return. Once you make the election, it’s binding for that year and all later years unless you get permission from the IRS to change it.

Example: Assume that Michael from the above example decides to amortize the $10,000 he spent to develop his new beehive. He deducts the $10,000 over 60 months ($167 per month) starting with the first month he receives an economic benefit from his beehive. If he starts benefitting from the beehive in July through sales or licensing, he ll get a $1,002 deduction for the year (6 months x $167 = $1,002). He ll deduct the remaining amount over the next 54 months.

Ten-Year Write Off

An alternative to amortizing or taking current deductions is the write off method. Here, you write off or deduct a percentage your R D costs over a 10-year period (120 months), which begins with the tax year in which you paid or incurred the costs. With this method, you don t have to actually obtain an economic benefit from the R D costs to take a deduction.

To elect this method, you need to complete Part VI of Form 4562 and attach to your return a separate statement showing:

  • your name, address, and taxpayer identification number (TIN). and
  • the type of cost and the amount of that cost you’re claiming in the election.

Questions for Your Attorney

  • Should I deduct, amortize, or write off my research and experimental costs?
  • I didn’t know I could deduct, amortize or write off my research and experimental costs when I completed last year’s tax return. Is there anyway I can claim it now?
  • Last year, I bought an existing business that makes and sells tools. In that year, an employee was working on a patent for new tool. I let him continue the research and development, and we got a patent this year. Can I deduct, amortize, or write off any of those research costs?

Talk to an attorney


California Adoption – Durand Cook #tax #attorney #in #california


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Welcome to the Law Offices of D. Durand Cook

For over 25 years, we have devoted our services to helping hundreds of birth mothers and adoptive parents through the process of adoption. With private adoption as the main focus of our practice, we proudly espouse a three-fold purpose.

1. To serve the needs of prospective adoptive parents in building their family

2. To assist birth parents in dealing with an unplanned pregnancy in a loving and life-affirming way

3. To help an innocent child in finding a loving and secure home.

In the last 10 years, we have expanded our practice to include assisted reproduction through surrogacy and egg donation and have successfully represented intended parents, surrogate mothers and egg donors in achieving their family formation goals.

Because adoption and assisted reproduction can be an exciting, challenging and sometimes unnerving experience, we are committed not only to making the process an enriching and successful one for all participants involved but are also focused in ensuring that it is completed in a timely, professional and compassionate manner.

Toll Free: (800) 321-2138

  • Welcome
  • Contact Us
  • Adoption
  • Frequently Asked Questions
  • Adoption Process Orientation
  • Birth Parent Search/Outreach
  • Birth Parent Orientation
  • “Match” Meeting Preparation
  • Coaching and Counseling
  • Legal Representation
  • Surrogacy
  • Egg Donation
  • Other Family Formation Services
  • About the Law Offices of D. Durand Cook
  • Newsletter Articles
  • “Adoption Tax Credits for Year 2010”
  • “In the News: 2010 Adoption Tax Credit”
  • “Adoption in the Age of Social Networking and the Internet”
  • “Should We Be Color-Blind?” **NEW**
  • Webinars **NEW**
  • Privacy Policy


National Tax Relief – Professional Tax Help for Small Businesses and Individuals


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An IRS Payment Plan is for taxpayers who can’t afford to pay off their entire back tax debt at once or for those who can’t make large payments to the IRS without experiencing an economic hardship. The key word here is hardship. One could say that anyone who is paying back the IRS for past due taxes is experiencing an economic hardship in that there are always more pleasurable things to do with one’s money. Unfortunately, the IRS doesn’t see it that way.

In order to set up a Payment Plan for IRS back taxes and stop collection action. a taxpayer must demonstrate to the IRS that paying all that is due or making excessively large payments to the IRS would result in an undue economic hardship to the taxpayer. This is done by showing that payment of what the IRS is demanding would result in the taxpayer taking food off their family’s table or doing without some other necessity of life to give the money to the IRS instead. Fortunately for many people, this is not that difficult to demonstrate. Other times it is a bit harder, but there is almost always some type of resolution available. If you contact us. we will help you deal with the IRS and correctly complete the right forms to set up a Payment Plan that works for you.

The main benefit of setting up installment payments with the IRS is that it will put you back in compliance and you will no longer have to worry about the IRS knocking on your door. The IRS will have disappeared from your life and there will be no threat of levy and seizure (garnishment) of your wages, bank accounts, or any other property. The harassment by the IRS will be completely over, as long as you continue to make the agreed upon payments.

It is possible that by having us take a look at your financial situation, you may actually qualify for a hardship deferment of collection action and be put on uncollectable status. If this is the case, you would then be completely left alone by the IRS and make no payments. Do not count on this, but it does sometimes work out that way. Furthermore, you will not have to wait long for an answer. According to the IRS’s internal rules, they must answer your request for hardship within ten (10) working days of receipt of your request. THAT IS FAST.

In order to get set up on a really low payment plan or better yet on uncollectable status, you must demonstrate economic hardship to the IRS. You may be asking yourself: “How do I prove economic hardship to the IRS?” Economic hardship according to IRS rules and procedures is when paying the IRS would result in undue or unreasonable hardship to you, the taxpayer. As a taxpayer, you may think that not paying off your VISA debt or a loan from Aunt Mary and giving that money to the IRS instead is unreasonable, but the IRS doesn’t see it that way – and they never will.

To view this in the proper perspective, you must look at it from the way the IRS Collections folks do. You see, they have all the power and hold most of the cards. What you have going for you are some reasonable outs provided by Congress and the IRS to keep the system efficient and within the bounds of reason. It is not efficient for the IRS to spend its time and money trying to collect a large sum of money from somebody who has no way of paying so large of an amount. The IRS and Congress have provided for this by instituting Payment Plans. The key is to make sure it is a Livable Payment Plan that you can afford and continue to pay without defaulting. This is what National Tax Relief makes sure of. You do not want to get coerced into a Payment Plan by a revenue officer in which the payments are so high that you will not be able to keep them up in the long run. If you get into a Payment Plan and later default, then you will be in bigger trouble than before.

How to Qualify for a Payment Plan or Uncollectable Status

You must show the IRS on the proper forms that your allowable expenses are equal to, or only slightly less than, your income. This is how you show the IRS that you can pay them only an “affordable and livable amount” without “undue economic hardship. Your allowable expenses are what the IRS considers the necessities of life. In general, they are: food, clothing, housing, utilities, transportation, medical, insurance and work-related expenditures. It is our job at National Tax Relief to help you get into a Payment Plan that fits your budget and gets you out of debt.


Tax Resolution Services, Tax Attorneys, IRS Tax Settlement, Business Tax Problems, IRS


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Taxation Solutions, Inc.

If you have tax problems, Taxation Solutions, Inc. has the answers you need. We re a fully licensed and insured tax help firm staffed by tax consultants with more than 40 years of experience in the industry. We care deeply about providing top-quality tax resolution services that make a difference in our clients lives and financial security. Whether you need help securing a tax settlement, having tax penalties lifted, or preparing for an audit by the IRS, Taxation Solutions team is ready to help. Call now to schedule your initial consultation with a tax attorney or other pro from our firm, and to get a free cost estimate!

  • Tax Resolution Services
  • Tax Audit Representation
  • 40 Years of Experience
  • Licensed Insured
  • Emergency Tax Help Available

We re pleased to provide tax assistance to individuals and business owners throughout the greater San Antonio area. Contact our office if you re based in Austin, Live Oak, Kirby, Stone Oak, Southside, New Braunfels, San Marcos, Boerne, Floresville, or anywhere else in the local area. We ll book the earliest available appointment with one of our skilled tax consultants and get right to work providing you with the tax resolution services that will bring you tax relief.

We take pride in the high quality of our tax resolution workmanship. We credit our four decades of experience and our affiliation with the American Society of Tax Problem Solvers for giving us an extensive body of knowledge regarding both federal and state tax codes, as well as for keeping us up to date on tax issues that affect our clients. We aim for nothing less than thorough, accurate, and effective tax resolution service coupled with friendly and professional customer service to ease your burden when you re facing problems with back taxes, IRS audits, tax penalties, or government actions against your assets.

Contact Taxation Solutions, Inc. via phone or e-mail today if you re ready to take control of your financial future. From tax settlement negotiation to tax audit representation and beyond, we re San Antonio s tax relief company of choice. Why would you trust your own or your business s tax problems to anyone else? Our tax attorneys and other tax consultants have the knowledge, skill, and commitment to get you the best possible results.

Proudly Serving


California Tax Lawyers: CA Lawyer, Attorney, Attorneys, Law Firms #tax #attorneys #in


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California: Tax Lawyers

Need help with a Tax matter?

You’ve come to the right place. Whether you are a business or individual taxpayer in need of tax-related legal help, a tax lawyer can help.

Tax lawyers can assist with understanding tax law and resolve tax liens, back taxes, tax debt recovery and relief, and IRS compliance issues.

Use FindLaw to hire a local tax lawyer to help structure an offer and compromise, fight IRS collections, and assist with wage and garnishment releases.

Need an attorney in California?

FindLaw’s Lawyer Directory is the largest online directory of attorneys. Browse more than one million listings, covering everything from divorce to DUI to employment law.

Detailed law firm profiles have information like the firm’s area of law, office location, office hours, and payment options. Attorney profiles include the biography, education and training, and client recommendations of an attorney to help you decide who to hire.

Use the contact form on the profiles to connect with a California attorney for legal advice.

How do I choose a lawyer?

Consider the following:
Comfort Level – Are you comfortable telling the lawyer personal information? Does the lawyer seem interested in solving your problem?
Credentials – How long has the lawyer been in practice? Has the lawyer worked on other cases similar to yours?
Cost – How are the lawyer’s fees structured – hourly or flat fee? Can the lawyer estimate the cost of your case?
City – Is the lawyer’s office conveniently located?


Tax Levy FAQ: IRS Levy Frequently Asked Questions #levy #tax


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Tax Levy FAQ: IRS Levy Frequently Asked Questions manny 2015-08-20T19:44:50+00:00

Tax Levy Frequently Asked Questions (FAQs)

Can a Tax Levy be stopped?

  • A tax levy can be stopped. When the IRS sends their final notice of intent to levy they are giving 30 days for the taxpayer to resolve their problem before the begin to levy. The IRS does not want to levy any taxpayer s assets, it is a last resort effort to collect taxes from the uncooperative taxpayers. Some ways to stop the levy are by appealing the levy, pay the IRS in full, enter into an installment agreement, or to file for an offer in compromise.

What assets can the IRS take through a levy?

  • The IRS can take almost anything of value from you that can be used to satisfy tax debt. There is a small list of things they cannot take, but most things they can legally take. The most common assets they seize are wages, vendor payments due to you, money from bank accounts, commissions, employee travel advances, SSA benefits, property, rights to property, and anything else of value that can satisfy the tax liability.

What can t the IRS take through a tax levy?

  • A few things the IRS cannot take are the following: welfare, SSI, disability payments, court ordered child support, school books, clothing, livestock if farmer, tools used for a job, undelivered mail, workers compensation benefits and other exemptions that are related to the annual cost of living.

What if I don t agree with the notice of intent to levy?

  • The IRS does make mistakes sometimes and will misplace payments or get paperwork mixed up, so it is possible you received a levy by accident. Or even if you don t think they went through the levy process the right way etc, you have a right to appeal the levy. It is important that you both call the notice listed on the levy and file for an appeal .

Can a tax levy be released?

  • Yes you can release a tax levy. The IRS requires you to get back into compliance with your taxes before they stop the levy. You can release the levy by paying in full, settling through an offer in compromise, setting up a payment plan with the IRS, having the statute of limitations expire on the taxes that are due or by getting declared uncollectible.

How can I avoid a Levy?

  • The best way to avoid a tax levy is by staying in full compliance with IRS taxes and taking immediate action to any notices the IRS may send you. If you cannot afford to pay your taxes it is important to let the IRS know and arrange some other form of tax debt settlement.

What is the difference between a tax levy and a tax lien?

  • A tax lien is only the governments invisible claim on the property that is owned by the taxpayer, but a tax levy is the actual seizure of the assets owned by a taxpayer. With a levy the IRS can take money from bank accounts, garnish wages, or even seize physical property owned by the taxpayer.

Are there tax professionals that can help with a tax levy?

  • Yes, there are many tax professionals out there that specialize in finding solutions for taxpayers that are in trouble. The IRS s complexity has spawned many great companies to hire trained professionals that have lots of experience in making the various different forms of tax filings required when settling tax debt. Find more information on how our tax levy services work.

How to Donate Clothing & Household Items #receipt #for #tax #deductible #donation


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Chartered by Congress, the Military Order of the Purple Heart, U.S.A. is a national organization composed entirely of combat wounded Veterans who have been awarded the Purple Heart Medal. The Order is founded on the decoration originally established by General George Washington in 1782 for gallantry, fidelity, and service.

Through funding provided by the Military Order of the Purple Heart Service Foundation, Inc. the Military Order of the Purple Heart offers: Direct service and emergency assistance to veterans in VA and Military hospitals, and also helps veterans´ dependents and survivors;

Whenever and Wherever there is a need, the Military Order of the Purple Heart will be there..because you cared. For more information, please refer to our “ABOUT US ” and “VETERAN’S INFORMATION ” pages.

What are some of the services provided to Veterans?

Who is the “Military Order of the Purple Heart Service Foundation”?

The principal purpose of the Foundation, a non-profit organization, is to support the many programs of the Military Order of the Purple Heart, U.S.A through tax-deductible contributions. With the events of the past several years, the need for theses programs to help support our Veterans is growing.

We do not ask for your time or your money. Funds for these programs are raised by the sale of useable clothing and household goods contributed by people just like you. If you would like to make a donation to help support the many programs sponsored by the MOPH, please visit our “REQUEST A PICKUP ” page.

Do workers get paid or are they volunteers?

Along with individuals who have volunteered their time, the Military Order of the Purple Heart Service Foundation offers a unique opportunity to earn extra money and support a worthwhile cause at the same time. From the convenience of your own home or within a comfortable office environment, pleasant and dedicated persons are needed. For information on positions currently available, please visit our “EMPLOYMENT ” page.

Will I get a receipt and how does it work for tax Purposes?

All items donated to the Purple Heart, are deductible for income tax purposes at their present Fair Market Value. Internal Revenue code places the responsibility for the Fair Market Value upon the donor rather than the agency receiving the gift. The Internal Revenue advises that Fair Market Value is interpreted as that price which a buyer is willing to pay and a seller is willing to accept.


IRS Whistleblower Attorney #business #tax #fraud, #corporate #tax #fraud, #fraud #on #taxes,


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Welcome to The Ferraro Law Firm – Tax Whistleblower Attorneys

Important News:

An IRS whistleblower submission filed in the infancy of the program by The Ferraro Law Firm resulted in a $38 Million award for one of our clients.

At The Ferraro Law Firm. those with information about tax underpayments can get the same high-quality representation that the largest corporations and wealthiest individuals enjoy. Big corporations and the super-rich spend millions of dollars on outside tax controversy counsel. The reason is that businesses need to defend the very types of underpayments you have discovered. With that in mind, ask yourself if it might not be time you had a tax whistleblower lawyer working for you—someone with the same type of experience who can fight effectively to protect your interests?

The IRS Whistleblower statute gives anyone with information about large-scale tax underpayments, including accounting errors, tax fraud or evasion, a significant financial incentive to report it. The IRS must give you up to 30% of any money they collect based upon your information.

If you believe that you have such information, contact The Ferraro Law Firm in Miami, Florida, for a confidential consultation.

Our tax whistleblower attorneys have over $100 billion in active IRS whistleblower submissions, and years of experience handling tax controversies and other complex tax matters for some of the world’s largest corporations and wealthiest individuals while practicing at some of the country’s largest and most prominent tax law firms. As a result, they know exactly what an IRS whistleblower case entails and exactly how to take a case from beginning to end and guarantee maximum results. Today, their practice focuses on helping IRS whistleblowers maximize their rewards while protecting themselves from the underpaying taxpayers.

Our tax attorneys practice exclusively in the area of IRS whistleblower claims and have hundreds of cases under their belt. We don’t do this part time, so you get experienced attorneys versed in the tax law and IRS procedures that directly apply to you case.

More than anything, we know you want your case taken seriously and that maximizing your reward is of the utmost importance. We would like you to know, sincerely, that this is something we do every day for the people we represent. Learn more about reporting tax fraud .

Confidential Consultations, Nationwide Practice — 1-800-275-3332

We invite you to explore the rest of this website to learn more about the IRS Whistleblower Rewards program and other relevant topics. We also invite you to call or contact our lawyers directly at either our Washington, D.C. or Miami, Florida, area offices.


The Real Cost of Leasing vs #buying #solar #panels, #leasing, #solar #electric


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The Real Cost of Leasing vs. Buying Solar Panels

Buying solar panels requires an investment and more decision-making than leasing, but over the long term the benefits of owning your system are hard to beat.

Best Ways to Pay for Your Panels

Cash
Buying your solar electric system outright is best. It usually costs $15,000 to $20,000 after tax credits and can reduce your electricity bill by 70 to 100 percent, depending on the size and orientation of your roof and local regulations. Most systems pay for themselves in five to seven years.

Home Equity Loan
If you need to finance your solar panel purchase, the most cost-effective way to do it is to use a home equity loan or a home equity line of credit. Because your house serves as collateral, these options have low interest rates (currently about 3 to 5 percent). The interest you pay is tax deductible. Equity loans range from 5 to 20 years and usually have fixed interest rates. Equity lines last 10 years and have variable rates (so the interest may increase).

Solar Loan
There are unsecured and secured solar loans. With an unsecured loan, your house doesn’t act as collateral and the interest isn’t tax deductible. Many solar installers work with lenders that offer solar loans, but you’ll probably find better rates by directly checking with banks, and credit unions. Watch out for high origination fees. Fannie Mae also offers consumers financing for solar system installations through its HomeStyle Energy Mortgage Program when they buy a new house or refinance.

Why Leasing Isn’t a Bright Idea

The steep up-front costs for a residential solar system can make a leasing company’s sales pitch sound pretty appealing: Pay little or nothing and save hundreds of dollars per year on average. (The premise is that you save because the combination of your lease payment and your electric bill is less than what you currently pay for power.) Leasing can also look seductively simple compared with buying: There’s no need to shop separately for an installer and financing; you just sign on the dotted line. So it’s not surprising that 72 percent of the people who installed residential solar systems in 2014 did so through leasing or another type of third-party arrangement. But the reality is not quite so sunny.

Your Savings Will Be Modest
People who lease their solar systems save far less than those who buy them outright or with a loan (they also miss out on federal tax benefits and any local incentives). Many leases contain an escalator clause that can further reduce savings by increasing payments 3 percent per year. So if you’re paying 12 cents per kilowatt-hour in year one, with a 3 percent escalator, you’ll be paying 18.2 cents in year 15. That means that if the cost of energy doesn’t rise as quickly as the contracted lease payments increase, your savings could evaporate.

You Lose Control of Your Roof
Leasing companies want to maximize their profit, so there’s a chance you could wind up with more panels than you want and that they could be installed in highly visible places—such as facing the street—without any regard to appearance. To avoid that, check the final system design and placement before signing the lease. It could be different from the initial mock-up.

Leases Can Scare Off Home Buyers
If you put your house on the market before the lease is up (usually 20 years), you will either have to buy out the lease or the person purchasing your home will have to assume it—which some are reluctant to do.

That’s what happened to Andrew and Nora Barber, who had to buy out the lease on the solar system on their Clovis, Calif. home after two prospective buyers were frightened away by it. “I offered the solar company $16,000, which was the total of all the payments for the remainder of the contract,” Andrew says. “But $21,000 was the buyout price in the contract, and the company wouldn’t budge.”

Some solar leasing companies may offer to relocate their systems from one house to another. That could cost $500 for an initial audit and another $500 to transfer the panels, if the leasing company determines it can be done. You would also need approval from your utility and local landmarks commission or the condo or homeowner’s association, if applicable. Plus the new house must be able to accommodate the old system.

And remember: At the end of the lease, the solar company could remove the system—and your savings along with it.

Service Plans Don’t Serve You
Though leasing companies tout their service plans, maintenance is a red herring. “Generally, there’s really no scenario where the maintenance plan is going to kick in,” says Joshua Pearce, an engineering professor and solar expert at the Michigan Tech Open Sustainability Technology Lab. Equipment problems aren’t covered by the maintenance plan, they’re covered by the warranty. And if a storm destroys your panels, the damage may be covered by your homeowners insurance.

That’s why—whether you buy or lease—it’s essential that you inform your insurer. (Roof-mounted solar is generally added as part of a standard homeowners policy at no additional cost; ground-mounted solar may require an insurance rider.)


4 Reasons the IRS Can Seize Your Income Tax Refund Money for


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4 Reasons the IRS Can Seize Your Income Tax Refund Money for Debt

Believe it or not, there are several situations in which the IRS can rightfully seize your refund. Therefore, before crying foul and blaming the government for making a terrible mistake, consider whether any of the numerous reasons for tax refund seizure could apply to you.

Reasons for Tax Refund Seizure

1. You Have Past Tax Debt
If you have an outstanding tax debt from previous years, the IRS can just take your expected refund and apply it to the old debt without so much as a thank you note. It does not matter whether the debt is from last year or more than a decade ago the IRS has a long memory, and will take the owed funds whenever the discrepancy is discovered.

Keep in mind, it does not matter whether the money you owe is for federal or state taxes. If you re behind on your state tax bill, the state government can either seize your state refund, or apply to the IRS to seize money from your federal refund.

2. You Owe Child Support
The Federal Government will eventually notice if you are behind on child support payments. In fact, federal and state agencies can place levies on your refund to help pay your outstanding child support debt.

Don t make the mistake of thinking you re home free when your son or daughter reaches 18 years of age. If you are still delinquent, this can continue even past the time that your child no longer qualifies for support.

3. You re in Bankruptcy
Paying down debt can be a smart way to use your tax refund money. and if you re currently going through bankruptcy. your bankruptcy trustee might make that decision for you.

Under a Chapter 13 bankruptcy. the bankruptcy trustee can request that the court take your refund and apply it to your debts. Chapter 7 filers may lose their refund, but can exempt some of it from seizure.

Once your bankruptcy is fully discharged, your refunds will be safe. If you think this could happen to you, check with your bankruptcy trustee.

4. You ve Defaulted on Student Loans
Part of the reason that student loans have much better interest rates than other loans is because they re nearly impossible to escape. If you get old enough, the government can even take payments out of your Social Security check to cover them. Therefore, it shouldn t come as a shock that the IRS can turn your refund over to the Department of Education to pay for any loans you ve defaulted on.

Married Filing Jointly

You should be aware that if you file jointly with your spouse and he or she is in a situation where his or her tax refund will be seized, yours will be seized as well. Luckily, there are a couple of things you can do to hold on to your share of the refund:

  1. File Separately. If you file your taxes as married filing separately. you don t have to worry about this issue. Your refund will be safe and your spouse must bear the burden of his or her financial issues alone.
  2. Injured Spouse Allocation. If you want to avoid having your part of the refund seized, you can file for injured spouse relief in order to make your case to the IRS that you paid your own share of taxes and didn t have anything to do with the situation. You must have your own income and have made tax payments or had taxes withheld from that income. and you must be expecting a refund of at least some of those taxes that you paid on your own income.

To apply for injured spouse relief and determine how much you should get back, you ll need to complete Form 8379. Injured Spouse Allocation. Also, don t confuse injured spouse relief with innocent spouse relief. which comes into play when the other spouse has falsified a tax return, under-reported income, is guilty of tax evasion or fraud. or committed other acts that might have civil penalties to both spouses if a joint return was filed.

What Your Refund Can t Be Seized for

Even if the above situations don t apply to you, the possibility of having your refund seized might still be a concern if you re experiencing financial difficulties. You may be relieved to know that there are certain instances that do not warrant seizure.

The IRS cannot seize your refund for the following:

  • Credit Card or Mortgage Debt (Not Related to Bankruptcy). Only federal agencies can take your refund. However, if your bank account has a lien on it, a creditor might be able to swoop in and take money out if it s notified you received a hefty deposit.
  • Collection Agencies. No collection agency or creditor can intercept your refund without a lien, or add on to any existing tax debt. If a collection agency tries to convince you that they re from the IRS, don t bite. The IRS does use collection agencies, but only a select few, who will be happy to prove that they work for the IRS.
  • Overdrawn Checking Accounts and Bank Overages. The bank can t take your refund; however, it is likely that if a refund lands in the troubled account, the bank will apply any penalties or bank overage fees against it before you can withdraw the money.

Holding The Refund

There are several reasons that the IRS may hold your refund. It isn t taking your refund (not yet, anyway), but the IRS can keep it from being provided to you. In each of these situations, the IRS should contact you by mail to provide more details and a plan for resolution.

  • You Didn t File Taxes In a Previous Year. If you didn t file your taxes in a prior year, the IRS may hold your refund until you prove that you don t have a tax debt from that year. The only way you can get the IRS to release your refund is if you go ahead and file for that year, or send a letter explaining why you didn t file, and request more time.
  • Your Spouse Filed an Injured Spouse Allocation Form. If your spouse filed a Form 8379 as detailed above, the IRS may put your refund on hold until it can process all the paperwork and sort out who should get what.
  • You re Currently on a Payment Plan for Back Taxes. If you weren t able to pay your taxes in full in a previous year and had to contact the IRS to work out a payment plan, the IRS may hold your refund until it has determined whether the money should be put toward your payment plan.

Final Word

If you have financial troubles, whether they re in the form of an unpaid tax bill, late child support, bankruptcy, or student loan debt you ve defaulted on, make sure you understand the possible consequences. You can also check with the IRS to see if it s planning to seize your tax refund.

Remember, all of the above reasons for tax refund seizure will occur at the federal level before your refund is processed asking for the refund to be sent to another account or put on a tax refund debit card won t help. And if your spouse is the reason for your refund woes, you can put in an application for injured spouse relief, even if his or her refund has already been seized. If your refund is seized ultimately, you can at least rest assured that a portion of your debt has been paid.

Has your tax refund ever been seized? If so, what were the circumstances?

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Why You Should Stay Far Away From Tax Refund Anticipation Loans (RALs)


Lawyers tax #lawyers #tax


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From the Wild West to the National Airspace System: Roadmap for Integration of Unmanned Aircraft into the National Airspace System By David Cain, J.D.1 I. History of Aviation – Unde Vinimus A. Unmanned Aviation i. Early Unmanned Efforts: From Tethered Flight to World War I ii. The Golden Age: Unmanned Flight from World War I [ ]

Have you received an email with the subject: Delivery notification Parcel delivery failed After a few lines of pretend-data, the notice gives you the opportunity to click on a link to https://tools.usps dot [wait for it] COM! Guess what? That s a scam. According to an official United States Postal Service source, a number [ ]

Washington, D.C.—Mesa Airlines pilots, represented by the Air Line Pilots Association, Int’l (ALPA), filed a lawsuit against Mesa Airlines Inc. in the United States District Court for the Eastern District of Virginia. The lawsuit alleges that Mesa bypassed the collective bargaining process required by the Railway Labor Act ( RLA ) by implementing bonus and incentive programs without [ ]

The Railway Labor Act (“RLA”), which codifies the law of labor relations affecting railroad and airline¹ workers in the United States, can be found at 45 U.S.C. §§ 151-188 [research it]. The RLA came into being in response to a series of violent railroad strikes² during the late nineteenth and early twentieth centuries. Passed in 1926 after evolving [ ]

February 24 2017

Definition: (noun) A document which allows one person to act for another. Uses: Can be a general power of attorney, which allows one person to act as the other in every respect. This would most commonly occur when the person granting power of attorney anticipates becoming unable to act for him or herself, either due [ ]


EA vs #tax #lawyer #vs #cpa


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EA vs. CPA Which is Right for You

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Most people turn to the two well-known groups of licensed tax professionals: certified public accountants (CPA) and enrolled agents (EA). No matter the acronym after their name, the first step in your decision-making process is to make sure the person is licensed.

If they’re able to answer your questions and you understand, that’s when you want to continue to work with them, says Alan Pinck, an enrolled agent with A. Pinck Associates in San Jose, Calif. Communication is key. It shouldn’t be an intimidating situation. We have enough intimidating situations in our lives. When mistakes happen, it doesn’t hurt to get a second opinion.

Here’s a breakdown of the two professions:

An EA is authorized by the U.S. Department of the Treasury to represent taxpayers before the IRS for audits, collections, and appeals, according to the National Association of Enrolled Agents (NAEA). EAs advise, represent and prepare tax returns for individuals, partnerships, corporations, estates, trusts and any entities with tax-reporting requirements.

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EA’s only tend to focus on preparing taxes, and many specialize in tax resolution. In addition to an IRS-administered testing and application process, enrolled agents must complete at least 72 hours of continuing education every three years.

A CPA’s bread and butter tends to be performing tax, accounting and financial services to businesses. Not a ll specialize in taxation, and some specialize in more than one service. Most states/jurisdictions require at least a bachelor’s degree, two years public accounting experience and a passing score on the CPA exam to obtain a license. The IRS does not require attorneys and certified public accountants to complete continuing education, but some state licensing offices have added additional requirements. In Massachussetts, for example, CPAs need 80 hours of continuing education every two years.

Starting in 2013, the IRS will require tax preparers to pass a tax exam and obtain 15 hours of continuing education every year.

To sum it up simply, Taxes are laws, and accounting is numbers, Pinck says. The price for preparing a return may even be comparable between a CPA and a EA.

So how do you choose which type of professional is right for you? It’s not always black and white and requires an evaluation by each individual, but here are some general guidelines from the experts:

When you have out-of-state returns. Enrolled agents are the only taxpayer representatives who receive their unlimited right to practice from the federal government (CPAs and attorneys are licensed by the states). That means if you need to file in more than one state and eventually need representation before that state in an audit or resolution case, the same EA can do it, Pinck says.

When you need help resolving an IRS dispute or expect to owe. People who don’t have the resources to pursue a taxation attorney often hire EAs instead for civil resolution cases, according to David Miles, an enrolled agent with 20/20 Tax Resolutionin Broomfield, Co. Not only do EAs rates tend to be more affordable, they can their tax law expertise to represent clients in tax proceedings, audit hearings and appeals.

EAs help ensure clients are treated appropriately by the IRS, work out payment plans on the best possible terms, and ensure the IRS follows laws that protect taxpayers, Miles says.

Choose a CPA when:

A little accounting guidance wouldn’t hurt. If you own a small business, hiring a CPA with a bookkeeping and reporting background can help you get organized and on track for the next year. “When you have a couple million dollars in business, some of the accounting can get complicated. We make sure everything is in the right bucket,” says Irene Wachsler, a CPA with Tobolsky Wachsler CPAs in Massachussetts.

An audit of your business deductions, expenses and income is in order. A CPA’s main differentiator is the ability to attest an audit, which means it affirms to the IRS that financial statements are truthful, says Theodore Flynn, CEO and president of the Massachusetts Society of CPAs. To do that, a CPA will request bank statements and other proof, which limits the possibility of mistakes, Wachsler says. But make sure any professional you hire will guarantee their work on your returns, she adds. That means they agree to represent you later pro bono if there’s a problem with the return.


How do IRS tax relief programs actually work? #how #does #tax #relief


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How do IRS tax relief programs actually work?

So how does this work exactly? You run up a huge tax debt with the IRS, wave a magic wand and then voila — you can settle your IRS debt for pennies on the dollar? Let s get real. there s no way that IRS tax relief actually works like that.

Sure, the late-night TV commercials and tax resolution firms make it seem easy: Just hire us for $2,500 and we can settle your tax bill for pennies on the dollar! It all seems so easy and/or unbelievable. So what gives?

The truth about getting IRS tax relief on your back taxes lies somewhere in between. Settling tax debts with the IRS isn t easy, but it isn t a scam. In this article we want to tell the story of how IRS tax debt relief programs work in real life, and one of our favorite clients, Ethel.

We don t need easy, we just need possible

We represented Ethel, a retired woman who was suffering from thyroid cancer. Her prognosis was good, but treatment had to be ongoing. Ethel could no longer drive to the doctor, and because there was no public transportation where she lived she had to get a taxi to go to her treatment once a week.

As we looked at Ethel s financial situation and $49,000 tax bill, we determined that she qualified for three different types of tax relief. Option one: Because she had old debts, her tax returns were filed, and she had other credit card debt, she could file Chapter 7 bankruptcy and wipe out all of the tax debts. Ethel didn t want to file bankruptcy; she liked her credit cards and didn t want to have to rely on anyone to sign for loans in the future. Even though bankruptcy would result in a net payment to the IRS of $0, this option wasn t all that palatable to her.

We then went over option two: The IRS has a limited amount of time to collect on an assessed tax. Typically, with some exceptions, it is ten years. Ethel s debt was 5 year old from the date of assessment. Which meant in five years, the debts would be written off. Based on Ethel s financials we believe that she could be placed in hardship status with the IRS. This means the IRS wouldn t try to collect anything from her, and she wouldn t have to pay the IRS anything (except tax refunds the IRS would intercept). Getting into hardship status was more or less a sure thing. However, Ethel didn t want this tax bill hanging over her for 5 more years.

She wanted to know if there was a quicker way to get rid of it. And there is. Using the Offer in Compromise Doubt as to Collectability tax settlement program, we calculated that Ethel could submit $2,000 to settle a tax bill of $49,000. We submitted Ethel s Offer in Compromise package and hoped for a quick resolution.

Unbelievably, the IRS disallowed Ethel s taxi expenses — they said it was not a reasonable or necessary expense . I explained that Ethel would die without her cancer treatment, so I disagreed. let s say somewhat passionately.

But this is the way government works. What makes sense to you and me, doesn t make sense to a bureaucrat. Luckily, they weren t the last word.

I filed an appeal of the Offer in Compromise rejection, and expected an easy win. But still, the IRS appeals officer was giving me a hard time about Ethel s taxi fare. WTF.

I used some of our negotiations techniques (sorry I can t share them publicly — they re too valuable for our clients) and there was a pause by the Appeals Officer. Finally he said you bring up a good point. Your $2,000 offer is more than the IRS could expect to collect, so I am going to recommend its acceptance.

The lesson of Ethel

Even easy IRS tax relief may not be easy. Sometimes the most persuasive negotiation techniques in the world must be used to get the IRS to act in a way that is humane. Everything ended well for Ethel! She finished up her chemotherapy, and is cancer free. And now she is back to driving!

If you have a tax debt hanging over your head, now is the time to take care of it. Contact us to schedule a free consultation. To learn about our services and fees, click here .


Can t Pay Taxes You Owe-How to Pay IRS Tax Debt, Tax


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Owe Taxes? Can t Pay Your Tax Debt?

Do you have financial difficulties during these tough economic times? If so, then the last thing you need is to add the IRS to your list of headaches.

So you ve just prepared your taxes–or you have not started working on your tax return, but you know with certainty that you will have to pay taxes and that you cannot afford to pay the total amount due on time. Want to remove that constant stress hanging over your head? Luckily, the IRS has already taken measures to help taxpayers in your exact situation. Here is some information for getting yourself in the clear:

What Do I Do If I Owe Taxes But Don t Have the Money to Pay?

First, don t panic! Second, don t delay the time to file your tax return! You should always file your return on time to minimize your tax penalties. Even if you can pay nothing, you should file on time to avoid a greater tax penalty .

Then, take a deep breath and try to figure out how much of your tax debt you can actually afford to pay now. Likewise, you should always pay as much as you can in order to minimize penalties, because your penalties will be based on the amount you still owe to the IRS. Consider these direct tax payment options if you have all or some of the funds to pay the taxes you owe.

I Filed a Tax Extension on Time-Will That Extend My Time to Pay the Taxes I Owe?

No, a tax extension does not give you more time to pay any taxes owed. It only extends the deadline for filing your return!

How Can I Pay Off My Tax Debts?

The IRS recommends the following tips for paying off tax debts:

  1. Pay Your Tax Bill: If you receive a bill from the IRS, you ll save money by paying your taxes owed as soon as you can. If you can t pay them all at once, you should pay as much as you can. That way, you ll reduce your penalties and interest for late payment.
  2. Use IRS Direct Pay: The IRS recommends that the best way to pay taxes is by using the IRS Direct Pay tool. It s a safe, easy, and free way to pay from your savings or checking account. The tool walks you through five steps to pay your taxes online. You can find the tool on the IRS website.
  3. Get a Short-Term Extension to Pay: If you can pay all your taxes in 120 days or less, you may qualify for a short-term extension to pay from the IRS. You can apply for a payment extension online via the IRS website or by calling 1-800-829-1040 (if you received a bill from the IRS, you can call the phone number listed on it). Usually, there s no set-up fee for a short-term extension.
  4. Apply For a Monthly Payment Plan: If you cannot scrape up the funds to pay your amount due in full when you file your return, you can pay off your debt over time by applying for an installment agreement. You may qualify for an online installment payment agreement with the IRS as long as you owe $50,000 or less. The IRS states that a direct debit payment plan is the best option because this plan is a lower-cost, hassle-free way to pay, and the set-up fee is less than other payment plans. In addition, you don t have to worry about reminders, missed payments, or checks to write and mail. You can apply for the monthly payment plan via the IRS website or by completing and mailing Form 9465, Installment Agreement Request.
  5. Consider an Offer in Compromise: You can settle your tax debt for less than the full amount that you owe by applying for an offer in compromise (OIC) with the IRS. This may be an option for you if you owe a large amount of tax, do not believe you will ever be able to pay off the entire amount, or if making a full payment will cause a financial hardship. To see if you qualify for an OIC, you can use the IRS Pre-Qualifier tool on their website.

Are There Ways I Can Obtain Money To Pay My Taxes?

Yes, there are options to get money through other means so you can pay any taxes owed. However, this is only a good idea if any interest you end up paying is less than the interest and penalties the IRS will charge you.

Whether you owe hundreds or thousands, you should really ask yourself, Can I obtain this money? Are you able to cash out your paid time off from work? Have you thought about using your credit card or tapping your savings account? You might be able to borrow against your retirement account. Here are some options to consider:

  • Liquidate savings accounts, stocks, bonds, etc.
  • Sell assets (vehicle, real estate, etc.)
  • Borrow the money (bank loan, home equity loan, etc.)
  • Charge your tax debt on a credit card (be aware that the processing company may charge you a convenience fee based on the amount of your payment)

You should also consider setting up a payment plan with the IRS so you can give yourself time to obtain money and submit payments when they re due.

How Can I Avoid Owing Taxes in the Future?

The best way to avoid owing taxes when you file your tax return is to carefully manage your income tax withholding or estimated tax payments throughout the year. Here are some steps you can take:

  1. Find out what your tax withholding should be by using an IRS tax withholding calculator
  2. Withhold more tax from your paycheck by submitting a new Form W-4 to your employer
  3. Withhold more tax from your pension payments by submitting a new Form W-4P to the payer
  4. If you make estimated tax payments, increase them by submitting a new Form 1040-ES efile it to the IRS

See Publication 505 – Tax Withholding and Estimated Tax for details on tax withholding.

Need a Break from Your Taxes? Here Are Some Ways to Have TaxFun!


Texas IRS Tax Dispute Attorneys – Bailey – Galyen Attorneys at Law


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IRS and Tax Disputes

Dallas, DFW, Houston Texas IRS Tax Dispute Attorneys

Do You Owe Back Taxes? Has Your IRS Debt Gone to IRS Collections?

If you answered yes to either one of these questions, don’t panic. Help is available at the Texas, IRS collection law firm of Bailey Galyen. We frequently represent taxpayers in a large range of tax disputes in a variety of courts, including:

  • the United States Tax Court
  • United States District Courts
  • United States Bankruptcy Courts
  • United States Court of Federal Claims
  • United States Court of Appeals for the Fifth Circuit

Bailey Galyen regularly deals with IRS Collection Personnel

Bailey Galyen regularly deals with IRS collection personnel. We use our extensive experience in helping clients deal with IRS collection matters such as liens and levies.

We negotiate installment agreements and offers in compromise with IRS collections personnel, and when appropriate, we advise clients regarding the dischargeability of taxes in bankruptcy.

Bankruptcy is an Option

Frequently, the same circumstances that lead to IRS problems (loss of employment, medical bills) also lead to financial insolvency. In these types of cases, we take a comprehensive approach to helping clients regain their financial footing. Bailey Galyen is a full-service law firm offering legal representation in IRS and tax disputes, as well as bankruptcy.

Contact the firm to learn how you can get a fresh, financial start. We offer special payment plans and credit card payments are accepted.

Bailey Galyen Advises Businesses in the Tax Aspects of Their Business Transactions

Bailey Galyen, our Texas business tax lawyers also provide our business clients with legal advice regarding the tax aspects of business transactions and how those transactions should be reported on tax returns.

Additionally, Bailey Galyen represents clients in corporate, partnership, and personal business planning with an emphasis on taxation matters.

Criminal Tax Investigations by the IRS and the United States Department of Justice

If you have been targeted for a criminal tax investigation by the IRS or the United States Department of Justice, you may be facing potentially serious criminal charges. You need serious legal representation.

Bailey Galyen is a full service law firm providing IRS and tax representation. for The firm also represents individuals charged with white-collar crimes, such as tax evasion and RICO violations.

Whether the criminal investigation is being conducted by the IRS or the United States Department of Justice, the experienced tax attorneys at Bailey Galyen can handle your defense.

Former IRS Attorney Will Take Charge of Your Criminal Tax Investigation

Additionally, he is the winner of two Presidential Awards, three IRS Commissioner Awards, two IRS Chief Counsel Awards, as well as the U.S. Treasury General Counsel Award. He truly has an insider’s perspective in planning an appropriate defense strategy.

Contact the firm to arrange for legal representation in your IRS criminal tax investigation. Telephones are answered 24 hours a day, seven days a week.


Austin Tax Lawyers – Local Attorneys & Law Firms in Austin, TX


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Austin Tax Lawyers, Attorneys and Law Firms – Texas

Need help with a Tax matter?

You’ve come to the right place. Whether you are a business or individual taxpayer in need of tax-related legal help, a tax lawyer can help.

Tax lawyers can assist with understanding tax law and resolve tax liens, back taxes, tax debt recovery and relief, and IRS compliance issues.

Use FindLaw to hire a local tax lawyer to help structure an offer and compromise, fight IRS collections, and assist with wage and garnishment releases.

Need an attorney in Austin, Texas?

FindLaw’s Lawyer Directory is the largest online directory of attorneys. Browse more than one million listings, covering everything from criminal defense to personal injury to estate planning.

Detailed law firm profiles have information like the firm’s area of law, office location, office hours, and payment options. Attorney profiles include the biography, education and training, and client recommendations of an attorney to help you decide who to hire.

Use the contact form on the profiles to connect with an Austin, Texas attorney for legal advice.

How do I choose a lawyer?

Consider the following:
Comfort Level – Are you comfortable telling the lawyer personal information? Does the lawyer seem interested in solving your problem?
Credentials – How long has the lawyer been in practice? Has the lawyer worked on other cases similar to yours?
Cost – How are the lawyer’s fees structured – hourly or flat fee? Can the lawyer estimate the cost of your case?
City – Is the lawyer’s office conveniently located?

Not sure what questions to ask a lawyer?

Here are a few to get you started:

  • How long have you been in practice?
  • How many cases like mine have you handled?
  • How often do you settle cases out of court?
  • What are your fees and costs?
  • What are the next steps?

Want to check lawyer discipline?


North Carolina Internet Sales Tax #charlotte #tax #lawyer


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North Carolina Internet Sales Tax

If you are selling goods or products online and have customers located in North Carolina, you should take time to learn about North Carolina s Internet sales tax rules. North Carolina is one of a number of states that has enacted special legislation (known as Amazon laws) that effectively forces larger, out-of-state Internet retailers to collect and pay sales tax.

The General Rule: Physical Presence in the State

The current default rule throughout the United States is that you must collect sales tax on Internet sales to customers in those states where your business has a physical presence. The physical presence rule is based on a 1992 United States Supreme Court decision. Quill Corp. v. North Dakota. that addressed the obligations of mail order businesses to collect sales tax on out-of-state sales; the decision has been extended to include online retailers. Generally speaking, physical presence means having:

  • a warehouse in the state
  • a store in the state
  • an office in the state, or
  • a sales representative in the state.

The corollary to the physical presence rule is that, if you do not have a physical presence in the state, you generally are not required to collect sales tax for an Internet-based sale to someone in that state.

Examples of Physical Presence

Example 1. You are an online retailer located in Sioux Falls, South Dakota and make a sale through your website to a customer in Winston-Salem, North Carolina a state where your business has no physical presence: You are not required to collect sales tax from the Winston-Salem customer (unless you fall under North Carolina’s Amazon law).

Example 2. You are an online retailer located in Greensboro, North Carolina and make a sale through your website to a customer in Raleigh, North Carolina: You are required to collect sales tax from the Raleigh customer.

Example 3. After several years of operating solely out of a warehouse in Sioux Falls, South Dakota, you open a one-room satellite office just outside of Charlotte, North Carolina a state where previously you had no physical presence. A day later, you make a sale to a customer in Durham, North Carolina: You are required to collect sales tax from the Durham customer.

North Carolina s Amazon Law

North Carolina passed legislation in 2009 amending the definition of retailer in its state tax statutes and updating its rules regarding remote sales. These changes had the effect of requiring certain larger Internet retailers with no physical presence in North Carolina to collect and pay North Carolina s sales tax. More specifically, an out-of-state retailer must collect sales tax from North Carolina customers if that retailer:

  • has an agreement with a business or seller located in North Carolina to pay for customer referrals obtained via a link on the North Carolina seller s website (a click-through arrangement), and
  • the out-of-state retailer s gross receipts from these sales to North Carolina customers exceeds $10,000 during the preceding 12 months.

Similar laws have been enacted in other states; they are commonly referred to as Amazon Laws. As you might guess, the name refers to Amazon.com, which is a large, Internet-based retailer that does not have a physical presence in many states where it sells merchandise. Under the default physical presence rule, this type of seller would not have to collect sales tax from customers in states where it has no physical presence. Since most customers don t pay the corresponding use tax, online sales by large online retailers like Amazon and Overstock.com constitute a significant lost tax revenue for many states. Amazon laws have been enacted to try to reduce this loss.

The North Carolina DOR has published a bulletin that covers the main changes under the 2009 law. The bulletin has brief but useful sections on the change in the definition of retailer and on the new law on click-through arrangements.

It is worth noting that North Carolina law states that: A nonresident retailer who purchases advertising to be delivered by television, by radio, in print, on the Internet, or by any other medium is not considered to be engaged in business in this State [i.e.. is not required to collect and pay sales tax] based solely on the purchase of the advertising, thereby distinguishing Amazon-style click-through arrangements from some other types of Internet-based presence in North Carolina.

Many states, including North Carolina, have used the term nexus rather than physical presence in their sales tax laws, regulations, or other official documents, in ways that may go beyond physical presence. For more guidance on the issue, you can refer to North Carolina General Statutes which define the term engaged in business. The definition includes the physical presence items listed above (including places of business in the state controlled directly or indirectly), and retailers that make a remote sale if certain conditions are met. These remote sales with certain conditions are part of North Carolina’s Amazon law.

Non-Taxable Items

Some items sold via the Internet to North Carolina customers may be exempt from sales tax under North Carolina law. For example, computer software designed to run on an enterprise server operating system is exempt from sales tax. For a complete description of all tax-exempt items and transactions, review all sections of N.C. Gen. Stat. 105-164.13. North Carolina formerly had an annual sales tax holiday in August. However, the holiday was repealed in 2014 .

The Customer s Responsibility

In cases where the online retailer does not have to collect sales tax, it is the customer s responsibility to pay the tax in which case it is known not as a sales tax but, rather, a use tax. The DOR has a webpage providing basic guidance on the use tax, as well as a FAQ page on the use tax. The DOR s basic guidance states that Out-of-state retailers that are not engaged in business in this State are not required to collect North Carolina sales and use tax, and that such retailers include out-of-state businesses selling over the Internet. Similarly, the FAQ page mentions that items purchased on the Internet may be subject to use tax.

For additional information, you can check the use tax statute, N.C. Gen. Stat. 105-164.6 .

Proposed Federal Legislation

At the federal level, Congress has repeatedly considered legislation that would affect large Internet retailers and how online sales taxes are collected in all states. The most recent form of a proposed federal law is the Marketplace Fairness Act of 2015. As in previous version, the 2015 Act would allow states to require sellers not physically located in their state to collect taxes on online and catalog sales made to people in their state. Sellers that make $1 million or less in annual sales and have no physical presence in the state would be exempt from this requirement. States would have to meet certain criteria to simplify their sales tax laws and make sales tax collection easier before they could require sellers to collect the tax.

Final Words

For most small online businesses, it is the long established physical presence rule that will apply with regard to collecting tax on sales to customers in North Carolina. However, the issue is contentious and evolving as demonstrated by the Amazon law enacted in North Carolina in 2009. Because Internet sales tax is a subject of ongoing debate, you should consider checking in periodically with the North Carolina Department of Revenue to see if the rules have changed.

Updated: April 14, 2016

Talk to a Business Law attorney.


Vehicle Donation #npr #car #donation #tax #deduction


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Vehicle Donation

Donate it to OPB today

VW Bus photo courtesy of Flickr user jhritz. licensed under CC2 .

When you donate your used car (or truck, motorcycle, RV, boat, plane or other vehicle) to OPB we’ll turn the proceeds into ideas that engage, inform and entertain. OPB’s vehicle donation program handles all of the details at no charge to you, and your donation is tax deductible just follow the steps below.

How do I donate my vehicle to OPB?

Contact the OPB Vehicle Donation Department at Speed’s Towing, our vehicle donation partner. They’ll arrange the pickup of your vehicle. Here’s how to reach them:

FAQs

Does my car have to be running to qualify for donation?

No, but the car must have an engine and be towable. However, cars that are in extremely poor condition or far from our tow range may cost more to tow than the value of the vehicle. If this is the case, OPB may not receive any dollars from your vehicle.

What paperwork do I need?

OPB may accept your vehicle for donation if the title is clear of all liens, your name is on the front of the title and you have signed where indicated to release your interest in the vehicle. If the title is not available, you’ll need to submit an Application for Replacement Title with the DMV and contact us when you have the replacement title. The vehicle s registration card and keys should also be given to our representative.

Do I get a receipt for my donation?

Yes, our driver will issue a receipt at the time of pick-up. This is not your final tax receipt. The initial acknowledgement will indicate your name and the year, make and model of the vehicle you are donating.

A final acknowledgement will be mailed to you within 30 days of the sale. The amount of gross proceeds received from your vehicle will be listed on this receipt. This will be your receipt for your charitable contribution.

What can I claim as a deduction?

Due to recent IRS updates to the rules regarding vehicle donations and the amount of the deduction that can be claimed, we recommend that you refer to IRS Publication 4303 “A Donor’s Guide to Vehicle Donations,” which can be found at www.irs.gov, or contact your tax advisor to determine the amount of your tax deduction.

What does OPB do with the donated vehicles?

The vehicles are sold at auction. The funds from vehicle donations are used to produce quality educational and entertainment programs and support our outreach efforts in the community.

Do I have to be with the vehicle at the time of pick-up?

No. Special arrangements can be made when you talk with the tow company.

How much money will OPB receive?

It varies. However, after towing and administrative costs the station will receive the remainder of the proceeds from the sale of the car.


Mailing Your Tax Return #tax, #taxes, #returns, #track, #priority #mail #express, #overnight,


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Mail Your Tax Return with USPS

Use the U.S. Postal Service to file with confidence on tax day. Find the right products and services to fit your tax day needs.

Federal Tax Deadlines

If your tax return is postmarked by April 18, 2017 or October 16, 2017 (extension), the IRS considers it filed on time.

  • April 18, 2017 Federal tax return filing deadline.
  • October 16, 2017 Federal tax return extension deadline.

Use PO Locator to find locations that will be open late to postmark your tax return. Partner locations that provide postal services do not offer late postmarking, so verify their last collection hours.

Mailing Tips

  • Use sufficient postage.
    Double-check your envelope. Does it weigh more than 1 oz? Tax returns without enough postage will be returned.
  • Write clearly.
    Print labels on your computer or neatly write both the destination and return addresses. Not sure where to mail your federal tax return? Check with the IRS.
    Where to File Paper Tax Returns
  • Avoid the rush at the Post Office.
    Mail your return in a Collection Box that has a pick up time before the deadline.

Proof of Mailing Services

Show that you mailed the tax return, that your return was delivered, or both.

  • Return Receipt
    Get an electronic or physical delivery record showing who signed for your tax return.
  • Certified Mail Service
    Get a receipt that shows when your tax return was delivered or when delivery was attempted. Combine with Return Receipt to get a record showing who signed for your tax return.
  • Certificate of Mailing Service
    Have evidence that you sent your tax return. Get an official record showing the date your tax return was accepted.

Mailing Options Services

Choose how you want to mail your federal or state tax return and the extra services you want. We’ll get it where it’s going.

These mailing options apply a postmark to your return. If the postmark is by the deadline date, your return is on time.

Priority Mail Express

  • 1 2 business day delivery
  • USPS Tracking included
  • Signature at delivery available Learn More

Priority Mail

  • 1 3 business day delivery
  • USPS Tracking included Learn More

First Class Mail

  • 2 3 business day delivery
  • Extra services can be added Learn More

Online Services

Click-N-Ship

Print Priority Mail Express and Priority Mail shipping labels with Click-N-Ship .

Postal Store Online

Get First-Class stamps and additional mailing supplies from The Postal Store

Need More Tax Help?

The Postal Service recommends that tax filers confirm all tax information with a tax professional or the IRS.


When Can You Claim a Tax Deduction for Health Insurance? #tax, #taxes,


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When Can You Claim a Tax Deduction for Health Insurance?

Each year, June 28 marks National Insurance Awareness Day, serving as a reminder that it’s a good time to review your insurance coverage and ensure that it still fits your needs.

This is particularly true for health insurance and making sure you have the right amount of coverage at an affordable cost.

Health insurance can be expensive, so being able to claim a tax deduction for some of your insurance costs can help you save come tax time.

Since there are specific rules and qualifications you must follow, here’s an overview of when you can and cannot claim a tax deduction on your health insurance.

When health insurance is not tax-deductible

If you didn’t pay for health insurance, you can’t take a tax deduction for it. If your employer pays your health insurance premiums, you can’t deduct those costs. However, if an employer only pays for part of your premiums, you still may be able to claim a tax deduction for the portion you paid.

If you received a subsidy or premium tax credit to purchase an insurance plan in the Health Insurance Marketplace through the Affordable Care Act, any advanced-payment subsidy that lowered the cost of your health insurance premiums cannot be claimed as a tax deduction. However, the money you paid out of your own pocket for your premiums might be tax deductible.

You can’t take a deduction for health insurance you paid for with pre-tax money. If you have insurance through your employer, the premiums you pay are usually taken out of your paycheck before your income taxes are calculated. Since these premiums are paid with pre-tax dollars, they’re already income-tax-free, meaning you can’t claim them as a tax deduction.

Also note, you can not deduct health insurance unless you itemize your tax deductions or you are self-employed. You don t need to know if you qualify for itemized tax deductions, TurboTax will figure it out for you.

When health insurance is tax-deductible

If you’re self-employed, your health insurance premiums may be tax deductible. If you’re self-employed and not eligible for an employer-sponsored health plan through a spouse’s job, you may be eligible to write-off your health insurance premiums on your taxes. However, you can’t write off more in health insurance premiums than you earned.

Health insurance premiums paid with your own after-tax dollars are tax deductible. For example, if you purchased health insurance on your own through a health insurance exchange or directly from an insurance company, the money you paid toward your monthly premiums can be taken as a tax deduction.

Some Medicare plans are tax deductible. This includes Medicare Part B and Part D prescription coverage.

There are limits to the amount of your health insurance you can deduct. If you are able to write-off your health insurance, there are limits to how much of your premiums you can write off.

If you’re able to claim your health insurance as a medical expense deduction. you can only deduct medical expenses that exceed 10% of your adjusted gross income (7.5% if you’re 65 or older). If you’re self-employed and claimed the self-employed health insurance deduction, you don’t have to exceed the 10% threshold because you’re writing the premiums off as an adjustment to your self-employment income rather than as a tax deduction deduction.

As with all tax laws, TurboTax is up-to-date with the latest tax law changes. If you have more questions about the Affordable Care Act and how it impacts you and your taxes, you can get answers from TurboTax Health .

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San Jose Bankruptcy Attorney #tax #attorney #san #jose


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San Jose Bankruptcy Attorney

At The Fuller Law Firm, PC, our mission is to help you begin your journey toward financial freedom. If you are drowning in debt and considering filing for bankruptcy, retain the immediate representation of our trusted legal team. When you secure our supportive assistance, we will explain the most common options, their advantages and disadvantages. Contact our offices in San Jose, Oakland or Salinas for a free, in-depth consultation with an experienced bankruptcy attorney – not a paralegal or legal assistant.

When everyone in the world seems to be against you, you need a tenacious ally fighting on your side. Our skilled attorneys can give you the strength to combat your creditors. We will help you use your legal rights to protect yourself, your family, and everything you ve worked to achieve.

Whether you were laid off or injured in an accident and knee deep in medical bills – our resourceful attorneys skillfully negotiate through the California bankruptcy court system to help place you back in control of your life. We have extensive experience with Chapter 7. Chapter 11. and Chapter 13 bankruptcy filings. You do not have to be at the mercy of your creditors The Fuller Law Firm, PC can help.

When Should I Consider Filing For Bankruptcy?

You Deserve A Debt Free Future: (408) 465-4472

Our San Jose bankruptcy lawyers will give you the respect you deserve and the breathing room you need to make a fresh start for you and your family. It s time to end your financial distress. No more creditor harassment. No more garnishments of your wages. No more threats of repossession. No more foreclosure actions on your home. No more worrying. No more fear. No more helplessness.

We proudly serve the Northern California area through our main office located in San Jose, CA. Additionally, we serve the East Bay Area from our Oakland office and the south from our Salinas office. Hiring the best bankruptcy attorney in Northern California. may make all the difference in the outcome of your bankruptcy case.

Contact us now for a free consultation to determine the ideal solution for you.

Begin Your Journey Toward Financial Freedom

Learn What Steps You Should Take Next

  • Serving Clients Throughout San Jose Since 1990

    Find Out Why We’re The Right Choice

  • Each Client Deserves Exceptional Services

    Review Our Client Guarantee

  • Introduction to Bankruptcy


    National Tax Relief – Professional Tax Help for Small Businesses and Individuals


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    An IRS Payment Plan is for taxpayers who can’t afford to pay off their entire back tax debt at once or for those who can’t make large payments to the IRS without experiencing an economic hardship. The key word here is hardship. One could say that anyone who is paying back the IRS for past due taxes is experiencing an economic hardship in that there are always more pleasurable things to do with one’s money. Unfortunately, the IRS doesn’t see it that way.

    In order to set up a Payment Plan for IRS back taxes and stop collection action. a taxpayer must demonstrate to the IRS that paying all that is due or making excessively large payments to the IRS would result in an undue economic hardship to the taxpayer. This is done by showing that payment of what the IRS is demanding would result in the taxpayer taking food off their family’s table or doing without some other necessity of life to give the money to the IRS instead. Fortunately for many people, this is not that difficult to demonstrate. Other times it is a bit harder, but there is almost always some type of resolution available. If you contact us. we will help you deal with the IRS and correctly complete the right forms to set up a Payment Plan that works for you.

    The main benefit of setting up installment payments with the IRS is that it will put you back in compliance and you will no longer have to worry about the IRS knocking on your door. The IRS will have disappeared from your life and there will be no threat of levy and seizure (garnishment) of your wages, bank accounts, or any other property. The harassment by the IRS will be completely over, as long as you continue to make the agreed upon payments.

    It is possible that by having us take a look at your financial situation, you may actually qualify for a hardship deferment of collection action and be put on uncollectable status. If this is the case, you would then be completely left alone by the IRS and make no payments. Do not count on this, but it does sometimes work out that way. Furthermore, you will not have to wait long for an answer. According to the IRS’s internal rules, they must answer your request for hardship within ten (10) working days of receipt of your request. THAT IS FAST.

    In order to get set up on a really low payment plan or better yet on uncollectable status, you must demonstrate economic hardship to the IRS. You may be asking yourself: “How do I prove economic hardship to the IRS?” Economic hardship according to IRS rules and procedures is when paying the IRS would result in undue or unreasonable hardship to you, the taxpayer. As a taxpayer, you may think that not paying off your VISA debt or a loan from Aunt Mary and giving that money to the IRS instead is unreasonable, but the IRS doesn’t see it that way – and they never will.

    To view this in the proper perspective, you must look at it from the way the IRS Collections folks do. You see, they have all the power and hold most of the cards. What you have going for you are some reasonable outs provided by Congress and the IRS to keep the system efficient and within the bounds of reason. It is not efficient for the IRS to spend its time and money trying to collect a large sum of money from somebody who has no way of paying so large of an amount. The IRS and Congress have provided for this by instituting Payment Plans. The key is to make sure it is a Livable Payment Plan that you can afford and continue to pay without defaulting. This is what National Tax Relief makes sure of. You do not want to get coerced into a Payment Plan by a revenue officer in which the payments are so high that you will not be able to keep them up in the long run. If you get into a Payment Plan and later default, then you will be in bigger trouble than before.

    How to Qualify for a Payment Plan or Uncollectable Status

    You must show the IRS on the proper forms that your allowable expenses are equal to, or only slightly less than, your income. This is how you show the IRS that you can pay them only an “affordable and livable amount” without “undue economic hardship. Your allowable expenses are what the IRS considers the necessities of life. In general, they are: food, clothing, housing, utilities, transportation, medical, insurance and work-related expenditures. It is our job at National Tax Relief to help you get into a Payment Plan that fits your budget and gets you out of debt.


    Tax Accountant: Job Description & Requirements #education #in #accounting, #tax #accountant: #job


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    Tax Accountant: Job Description Requirements

    Job Description for Tax Accountant

    Tax accountants prepare federal, state and local tax returns for businesses, organizations and individuals. As such, these professionals are knowledgeable on business concepts and government regulations. Tax accountants may advise clients on how to minimize tax liability, inform them of any tax changes that affect their business and ensure compliance with taxing agency requirements. Tax accountants are involved in any disputes or audits that affect their clients.

    Career Outlook

    According to the U.S. Bureau of Labor Statistics (BLS), employment for accountants and auditors was expected to increase by 11% from 2014-2024. The increase is due to stricter regulations and a need for accountants to handle compliance matters.

    Salary Information

    The BLS reported a median annual salary of $67,190 for accountants and auditors in 2015. The top paying industries at that time were securities and commodity brokerages and the federal government.

    Find schools that offer these popular programs

    • Accounting with Computers, General
    • Auditing
    • Bookkeeping
    • Financial Accounting
    • Managerial Accounting
    • Taxation, General

    Requirements for Becoming a Tax Accountant

    Educational Requirements

    A bachelor’s degree is usually the minimum educational requirement for becoming a tax accountant. Prospective tax accountants may seek out accounting programs or related majors such as business administration. Individuals who are considering master’s programs in accountancy may look for programs that include a tax concentration. These programs include coursework in financial planning, auditing and taxation, in addition to courses in business calculus and statistics.

    Certification and Licensing Requirements

    In order to file reports with the U.S. Securities and Exchange Commission, accountants must be licensed as Certified Public Accountants (CPAs) by their state boards. Specific requirements for licensure vary by state, but most mandate applicants to complete 150 semester hours, 30 hours more than what is required for a 4-year degree. Additionally, states typically mandate that applicants have two years experience in accounting.

    Once eligible, candidates may take the CPA exam administered by the American Institute of Certified Public Accountants (www.aicpa.org ). After earning their certification, most CPAs must complete continuing education to maintain their credentials.

    Tax accountants hold at least a bachelor’s degree, but because additional credits are usually required in order to become a CPA, many professionals go on to earn graduate certificates or master’s degrees. While tax accountants generally work regular business hours, it’s important to note that during tax season their hours and workload can increase significantly.

    Next: View Schools

    A tax accountant requires some formal education. Learn about the degree programs, job duties and certification to see if this.

    If you’re considering a career as an international tax accountant, you’ll need at least your bachelor’s degree in a field like.

    Learn about the education and preparation needed to become a corporate tax accountant. Get a quick view of the requirements as.

    If you’ve been out of school for awhile – or if this is your first time in higher ed – you may be unsure how attending college.


    Tampa, Florida Tax Lawyer #tax #lawyer #tampa


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    V.J. Alvarez Associates, P.A.Over 30 Years Of Experience

    Dedicated Tax Attorney in Tampa, Florida

    Effective solutions. Proven results.

    Taxpayers in Florida are subject to a complex array of state and federal laws that can pose serious problems for their finances and for their businesses. At V.J. Alvarez Associates, P.A. I help find the solutions to your tax problems. From my office in Tampa, I assist clients across Florida in navigating through the confusing world of tax law. I also provide tax planning services.

    Whether you need help with tax planning, audits, liens and levies, or even preparation of a tax return, I have the knowledge and experience to assist you today.

    I represent clients throughout Florida in all tax-related matters, including:

    • Tax planning
    • Tax return preparation
    • Estate and gift tax returns
    • Sales tax audits
    • IRS-related issues
    • Florida tax issues
    • Trust fund recovery penalties
    • Estate tax audits
    • Individual and business tax planning engagements

    A firm commitment to my clients success

    I have 31 years of experience handling tax issues for individuals, businesses, estates, and business entities. I analyze every element of your case to help protect your assets and set up tax structures that comply with state and federal law. I have extensive experience representing clients in planning their estates, and I work tirelessly to ensure that you receive the best possible results.

    Take the first step toward financial freedom.

    I have the expertise and ability to handle any tax-related issue. Call V.J. Alvarez Associates, P.A.at 813-835-1955 or contact me online to schedule an appointment.

    Practice Areas

    V.J. Alvarez Associates, P.A.
    1202 North Armenia Avenue
    Tampa, Florida 33607-5309

    Office Hours:
    Monday Through Friday:
    8:30am – 5:00pm

    Attorney Advertising. This website is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship. [ Site Map ] [ Bookmark Us ]Martindale-Hubbell and martindale.com are registered trademarks; AV, BV, AV Preeminent and BV Distinguished are registered certification marks; Lawyers.com and the Martindale-Hubbell Peer Review Rated Icon are service marks; and Martindale-Hubbell Peer Review Ratings are trademarks of Internet Brands, Inc. used under license. Other products and services may be trademarks or registered trademarks of their respective companies. Copyright © 2017 Internet Brands, Inc. All rights reserved.


    Best Virginia Beach, VA Tax Attorneys #tax #attorney #virginia #beach


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    Top Rated Tax Lawyers in Virginia Beach, VA

    Virginia Beach, VA Tax Lawyers

    Tax Law

    There is no room for error when it comes to business taxation.

    Interest, penalties, audits, and litigation are all potential penalties for making mistakes.

    Is your business searching for an experienced, reliable business tax attorney to manage your books, assist with an audit, and interpret IRS and state tax codes?

    If so, find relief with Super Lawyers.

    Business tax attorneys already know how to keep records, understand business tax obligations, and what s required of your business from a taxation perspective.

    They re adept managing start-up costs, taxable income, state vs.

    federal taxation, employee taxes, deductions and more.

    Super Lawyers offers a free, comprehensive directory of accredited business / tax attorneys who ve attained a high-degree of peer recognition and professional achievement.

    Use Super Lawyers to hire a local business attorney today.

    Are you searching for a top tax lawyer in Virginia Beach, Virginia?

    Through Super Lawyers directory, we index attorneys who practice quality and excellence in their work. It is easy to browse tax attorney listings in your immediate area, search for a specific individual referred by a friend, or start narrowing your search by practice area.

    Did you find individuals who interest you? Learn more by exploring their profiles. There you will find a tax attorney’s contact, education, and biographical information to supplement your research. Where possible, our profiles will also include links to a tax lawyer’s personal biography, firm website, and other relevant information to consider.

    Are you ready to take action? Our profile’s contact form is simple to use and makes it easy to connect with a Virginia Beach, Virginia lawyer and seek legal advice.

    Super Lawyers Rating System

    Super Lawyers is a research-driven, peer-influenced rating service of outstanding lawyers who have attained a high degree of professional achievement and peer recognition. The patented selection process combines peer nominations, independent research evaluations and peer evaluations by practice area. Each year no more than 5 percent of the attorneys in the state are selected for the Super Lawyers list, and no more than 2.5 percent for the Rising Stars list.

    About Super Lawyers

    Super Lawyers is a rating service of outstanding lawyers from more than 70 practice areas who have attained a high-degree of peer recognition and professional achievement. This selection process includes independent research, peer nominations and peer evaluations. Learn More »


    Indiana Wage Garnishment Laws #tax #wage #garnishment


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    Indiana Wage Garnishment Laws

    Indiana law limits the amount that a creditor can garnish (take) from your wages for repayment of debts. Prior to July 2014, Indiana law used the same wage garnishment limits found in federal wage garnishment laws (also called wage attachments). However, beginning in July 2014, Indiana provided more protection for Indiana debtors.

    Read on to learn about wage garnishment law in Indiana.

    What Is a Wage Garnishment?

    A wage garnishment or wage attachment is an order from a court or a government agency that is sent to your employer. It requires your employer to withhold a certain amount of money from your paycheck and then send this money directly to your creditor.

    Different garnishment rules apply to different types of debt — and there are legal limits on how much of your paycheck can be garnished.

    To learn more about how wage garnishments work, how to object to a wage garnishment, and more, see our Wage Garnishment and Attachment topic.

    When Can a Creditor Garnish Your Wages in Indiana?

    Most creditors cannot get a wage garnishment order until they have first obtained a court judgment stating that you owe the creditor money. For example, if you are behind on credit card payments or owe a doctor s bill, those creditors cannot garnish your wages (unless they sue you and get a judgment).

    However, there are a few exceptions to this rule. Your wages can be garnished without a court judgment for:

    • unpaid income taxes
    • court ordered child support
    • child support arrears, and
    • defaulted student loans.

    Limits on Wage Garnishment in Indiana

    There are limits to how much money can be garnished from your paycheck. The idea is that you should have enough left to pay for living expenses.

    In Indiana, the law mostly tracks federal wage garnishment limits, with one exception. Here are the rules:

    For any given workweek, creditors are allowed to garnish the lesser of:

    • 25% of your disposable earnings, or
    • the amount by which your weekly disposable earnings exceed 30 times the federal hourly minimum wage.

    However, as of July 2014, if an individual shows good cause why the amount should be reduced for the first prong, the amount of garnishment could be less than 25%, as long as it is at least 10% of disposable earnings. Ind. Code Ann. 24-4.5-5-105. This is the new part of the law — and the part that departs from federal law. (Learn more about objecting to the wage garnishment amount .)

    Disposable earnings are those wages left after your employer has made deductions required by law.

    Example 1. Let s assume you earn $300 per week and your net wages (disposable earnings) are $250 after all required deductions. 30 times the current federal hourly minimum wage ($7.25) is $217.50. This means that your wages can be garnished up to $62.50 (25% of $250) or $32.50 ($250 minus $217.50) per week, whichever is less. As a result, your wages may only be garnished up to $32.50 per week because that is less than $62.50.

    Example 2. In the same example above, let’s say you demonstrated good cause for reducing the garnishment to 10% of your wages. In this case, the most the creditor could garnish would be $30 (10% of $300).

    Special Limits for Child Support, Student Loans, and Unpaid Taxes

    If you owe child support, student loans, or taxes, the government or creditor can garnish your wages without getting a court judgment. The amount that can be garnished is different too.

    Child Support

    Since 1988, all court orders for child support include an automatic income withholding order. The other parent can also get a wage garnishment order from the court if you get behind in child support payments. (To learn about income withholding orders and other ways child support can be collected, see Child Support Enforcement Obligations. )

    Indiana also has the same limits as federal law on what can be taken from your paycheck for this type of wage garnishment. Up to 50% of your disposable earnings may be garnished to pay child support if you are currently supporting a spouse or a child who isn’t the subject of the order. If you aren’t supporting a spouse or child, up to 60% of your earnings may be taken. An additional five percent may be garnished for support payments over 12 weeks in arrears. (Learn more about wage garnishment for child support arrears .)

    Student Loans in Default

    If you are in default on a federal student loan, the U.S. Department of Education or any entity collecting for this agency can garnish your wages without first getting a court judgment this is called an administrative garnishment. The most that the Department of Education can garnish is 15% of your disposable income, but not more than 30 times the minimum wage. To learn more, see the articles in Student Loan Debt .

    Unpaid Taxes

    The federal government can garnish your wages if you owe back taxes, even without a court judgment. The amount it can garnish depends on how many dependents you have and your deduction rate.

    States and local governments may also be able to garnish your wages to collect unpaid state and local taxes. Contact your state labor department to find out more. (You will find a link to your state labor department below.)

    Total Amount of Garnishment

    If you have more than one garnishment, the total amount that can be garnished is limited to 25%. For example, if the federal government is garnishing 15% of your income to repay defaulted student loans and your employer receives a second wage garnishment order, the employer can only take another 10% of your income to send to the second creditor.

    Restrictions on Job Termination Due to Wage Garnishments

    Complying with wage garnishment orders can be a hassle for your employer; some might be inclined to terminate your employment rather than comply with the order. State and federal law provides some protection for you in this situation.

    According to federal law, your employer cannot discharge you if you have one wage garnishment. However, federal law won t protect you if you have more than one wage garnishment order.

    In Indiana, your employer can t discharge you because creditors are garnishing or attempting to garnish your wages regardless of how many garnishments you have.

    Get debt relief now.


    How to claim pension tax relief (while it lasts) #tax,personal #finance,finance


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    How to claim pension tax relief (while it lasts)

    This week s great news for pension savers a reduction in tax due on pension money passed on at death could carry a sting in the tail. There are fears that the newly announced tax cut for people who bequeath their pension to the next generation will be offset by a reduction in the tax breaks that apply when you save the money in the first place.

    In other words, the huge improvements to savers choices and tax situation when they take money out of their pension could be counteracted by a future cut to the tax perks when savers put money in.

    Chancellor George Osborne announced on Monday at the Conservative conference that from next April any money left in the pension pot of someone who dies before the age of 75 could be inherited completely tax-free. For deaths at 75 or over, the bequeathed money can remain in a pension with no tax to pay or be withdrawn by the recipient, subject to his or her normal rate of income tax.

    Under the current system, which will be scrapped in April, there is a penal 55pc tax charge on inherited pensions; the only exception is when the pension saver never withdraws any money from the plan and dies before the age of 75 when there is no tax to pay.

    Related Articles

    In effect a tax of 55pc will be replaced by one of either zero or between 20pc and 45pc, depending on the recipient s income and when the money is withdrawn.

    Unlike with ordinary inheritance tax, the 55pc on an inherited pension applies to the entire sum there is no £325,000 tax-free nil-rate band.

    The change, combined with the new freedom, announced in the Budget, to allow pension savers unrestricted access to their money after the age of 55, will make pensions a far more attractive means of saving for many. The freedom to do as they wish with the money during their own lifetimes will be extended to future generations in fact some commentators say we can expect to see everlasting pensions that pay an income to successive generations with the capital left intact.

    There is much more detail on these changes, in the form of a comprehensive Q A .

    and the potential bad news

    These substantial new attractions of pension saving could be undermined if the Government curtails the current very generous tax breaks on the money that is put into pensions contributions are made from untaxed income. There are fears that full tax relief for higher-rate (40pc) and top-rate (45pc) taxpayers will be scrapped and replaced by a flat rate 30pc relief for savers of all incomes.

    Politicians from across the spectrum have stated, or hinted, that savings could be made by cutting back the tax relief paid on higher earners pension contributions.

    Malcolm McLean of Barnett Waddingham, the pensions consultancy, said: The days of higher-rate tax relief are almost certainly over. Laith Khalaf of Hargreaves Lansdown, the investment shop, said: The ground has been prepared for a cut to tax relief with Mr Osborne s latest pension policy.

    Removing higher-rate tax relief now looks like a no-brainer for the Conservatives and I d expect to hear more in the Autumn Statement in December or in the election manifesto.

    If these experts are right, the only way for savers to get the best of both worlds the top rate of tax relief on contributions and unrestricted withdrawals without penal rates of tax is to pay money in quickly between now and the Autumn Statement in December.

    However, the practicalities of higher-rate tax relief on pensions are complex. If you want to benefit from it now, before its possible abolition in a few months time, here is our step-by-step guide to the process.

    Our guide to achieving the best of both worlds

    If you re in a works pension scheme, you probably don t need to do anything. It s all done for you. That s because the money you pay into your pension pot and it doesn t matter whether your pension is a final salary sort or not gets paid in before tax. In effect, you get the benefit of tax relief at your highest rate of tax automatically. So if you pay 40pc tax, or 45pc, that s the benefit you get on your contributions. You don t need to claim any further relief.

    But if you have a personal pension, or a self-invested personal pension (Sipp), or a stakeholder pension, it s less easy. Here s how it works.

    1. You make a payment into your pension pot

    Just as if you were paying into an Isa, you move money from your bank account into your Sipp. For ease of calculation, say you pay in £800.

    2. Your pension firm boosts your contribution by the 20pc basic rate tax relief

    Most big providers add the basic rate of tax relief instantly, so in this case your pension pot gets £1,000 (in other words, your contribution is boosted by 25pc).

    3. Your pension provider then goes to HMRC and claims that money back

    This is how it works with most big providers. But John Lawson, pension expert at insurer Aviva says: It can take the pension scheme an average of six weeks to get that tax relief from HMRC, and some smaller Sipp providers don t add the 20pc tax relief to your pension until they receive it from HMRC.

    Remember, there are limits to how much you can contribute to a pension each year, linked to your earnings. Everyone including children can put in £2,880 without earning anything at all. If you don t have enough net relevant earnings to cover your contribution, it s likely to be picked up at this stage.

    4. Now you claim the extra 20pc tax relief (for 40pc taxpayers)

    The easiest way to claim the extra is via your self-assessment tax return. There is a box on the form where you can declare the gross pension contribution (ie, in the above example, £1,000). But when would you do it? If you are now getting down to filling in your tax return for the year ending April 2014 (which you can send in at any time between then and the deadline on January 31, 2015) you will be including any contributions made during that period. Equally, if you make a payment into a pension now (October 2014), it would appear in the return you file for the next year.

    5. So when do you get the money?

    The most common way of receiving the benefit is in the form of lower tax bills, based on an adjusted tax code for the rest of the tax year. So if you made a contribution now, included in your return filed by January 31, 2016, that could be reflected in the tax code applied to your earnings for the rest of that year and possibly the next depending on how much of a rebate was due.

    John Lawson adds: If you write to HMRC or call them, you could get your tax relief sooner. For example, if you paid a contribution on October 1 2014 and telephoned or wrote to HMRC immediately, your tax code would be adjusted upwards for the remainder of the 2014/15 tax year.

    6. But how does that extra relief end up in my pension?

    It doesn t. There is a common misconception that higher rate tax relief goes straight into your pension pot. But it doesn’t. You need to pay it in, effectively starting the whole process again. And for those paying the maximum amount in per year currently £32,000 plus the £8,000 basic relief, you would need to be a high earner with plenty of spare cash you would have to wait until a new tax year to add the extra £8,000.

    As a result, most people who want the benefit of their higher-rate tax relief to go into their pension simply increase their original contributions. Laith Khalaf explains: Basically, if you want more in there, you contribute more to begin with. Savers into Sipps and personal pensions need to recognise that the way the system works means the higher-rate relief isn t actually going into the accounts.

    Follow Telegraph Money on Facebook


    International Tax Attorneys Washington DC Foreign Acquisitions Joint Ventures Tax Planning: Ivins,


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    International Tax

    Ivins, Phillips Barker is a recognized national leader in handling U.S. federal income tax issues involving both activities of United States taxpayers in foreign countries, and activities of foreign taxpayers in the United States. Our firm serves individuals and corporations throughout the United States and all over the world.

    Our international tax attorneys have mastered all areas of international business taxation, including foreign acquisitions, dispositions and multinational restructurings, joint ventures, tax planning for intangibles, including issues relating to the international licensing of intangibles and international intangible structures, use of hybrid entities, intercompany transfer pricing (including negotiating advance pricing and competent authority agreements), income sourcing, foreign tax credits, allocation and apportionment of deductions, dual consolidated losses, sub part F, income tax treaties, and foreign currency transactions. The lawyers within our international group are involved in analyzing these issues in connection with tax planning transactions and in tax controversies with the Internal Revenue Service.

    Our international tax attorneys also regularly advise U.S. and non-U.S. high net worth individuals in connection with U.S. tax issues, including issued relating to business planning for inbound and outbound investment, expatriation, residency and related treaty issues, and participation in the Internal Revenue Service Voluntary Compliance Program, especially in relationship to complying with U.S. foreign bank account reporting rules.

    In addition to our talented team of attorneys, we have access to an extensive network of leading firms and practitioners around the world. We are able to call upon the expertise of these colleagues at any time, in order to respond quickly to our clients’ needs. Our clients include United States and foreign multinational corporations.

    Representative Experience

    • Structuring multinational corporate structures for publicly traded and private companies, including coordination of tax advice with local counsel
    • Assisting French multinational in connection with reorganization of U.S. corporate structure
    • Advising private textile company in connection with intercompany transfer pricing, including preparation of associated transfer pricing study
    • Representing publicly traded multinational video game company in all aspects of international licensing of intellectual property, including U.S. federal income tax aspects of related income and expense
    • Representing publicly traded multinational entertainment company in competent authority request regarding intercompany royalties.
    • Representing publicly traded multinational company in connection with dual consolidated loss issues relating to its international tax structure
    • Assisting U.S. insurer in connection with planning for offshore structured settlement arrangements
    • Assisting Japanese multinational computer company in negotiating renewal of Advance Pricing Agreement
    • Assisting multinational auto company in connection with audit issues relating to implementation of its Advance Pricing Agreement
    • Representing several individuals in connection with Internal Revenue Service voluntary disclosure program as it relates to disclosure of foreign bank accounts
    • Representing U.S. real estate fund in connection with fund structuring for non-US and tax exempt investors
    • Representing U.S. publicly traded brokerage in connection with U.K. acquisition
    • Representing Europe based broker-dealer in connection with structuring U.S. activities, including transfer pricing aspects
    • Representing U.S. indivdual in connection with “passive foreign investment company” (PFIC) issues in connection with a multi-million dollar disposition of shares of a non-U.S. company
    • Representing non-US person in connection with expatriation issues under Section 877 of the Internal Revenue Code
    News
    Strategies Opportunities
    Publications

    Consumer Attorneys Association of Los Angeles #california #tax #attorneys


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    Southern California Automotive Law Consumer Law Services

    If your vehicle is under warranty and a reasonable number of attempts to repair it have been unsuccessful, the manufacturer may be responsible for replacing the vehicle or refunding your money under California s Song-Beverly Consumer Warranty Act and/or the federal Magnuson-Moss Warranty Act, also known as the Lemon Law. Learn More…

    Is the vehicle, boat, RV, travel trailer, or motorcycle you purchased or leased a lemon? Does it continue to break down, even after repeated attempts to have it fixed? Complete an online form and Caronna, Johnson Zamora, LLP, will provide you with a free consultation and case evaluation.

    Knowledge that Gets Results

    At Caronna, Johnson Zamora, LLP, we know the law and we know the auto business. Our Partner overseeing our lemon law and automotive consumer fraud practice spent 15 years managing auto dealerships before turning to the practice of law. We know that design errors and manufacturing defects can turn even the most reliable vehicle into a lemon. And we know how to get results for you from auto, boat, RV, travel trailer, and motorcycle manufacturers.

    2 A powerful consumer protection act, the lemon law applies to owners of cars, trucks, SUVs, motorcycles, boats, recreational vehicles (RVs) and any other new or used motor vehicle that is protected by the manufacturer s new vehicle limited warranty.
    You also have rights under the lemon law if you purchased a certified pre-owned (CPO) vehicle.

    3 Under the lemon law, in most cases, your vehicle must be replaced, or you must be refunded your purchase or lease price, including sales tax, license fees, registration fees, finance charges, in addition to repair, towing, and rental car costs.
    The lemon law requires the auto manufacturer to pay reasonable attorney s fees and costs. So it costs you little or in some cases nothing to be represented by an experienced lemon law attorney who can help you get results as quickly and efficiently as possible.

    To discuss your concerns, please complete an online form and Caronna, Johnson Zamora, LLP, will provide you with a free consultation and case evaluation. From our offices in Rancho Mirage, Redlands, and Brawley, we represent clients in lemon law claims throughout Southern California.

    From offices in Rancho Mirage in Southern California, the attorneys of Caronna, Johnson & Zamora, LLP represent clients throughout the Inland Empire including the Coachella Valley cities of Coachella, Indio, La Quinta, Palm Desert, Cathedral City, Palm Springs, and Indian Wells; the Imperial Valley cities of El Centro, Brawley, and Calexico; High Desert communities including Yucca Valley, Morongo Valley, Joshua Tree, Palmdale, Lancaster, Victorville, and Apple Valley; San Bernardino County communities such as Redlands, Yucaipa, San Bernardino, Rialto, and Fontana; and Riverside County cities including Moreno Valley, Perris, Corona, Riverside, Banning, and Beaumont.


    Free invoice template – SJD Accountancy #accountancy,limited #company,contractor #accountants,contractor #limited #company,accountants,freelancer #accountants,consultants,london,tax,inland


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    FREE Invoice Template

    Whether you are a multinational limited company or a single person sole trader it is important that you have a structured approach to your invoicing or you may lose track of what payments you are waiting for.

    Invoicing your clients is a fairly straightforward and simple process, provided you have a good invoice template to work from.

    You should keep a record of all the invoices you have sent out along with when you received payment in order to keep track of your finances.

    Please use the below template which is based on a VAT rate of 20%:

    Invoice Template

    Please use the below template which is based on a VAT rate of 17.5%:

    Invoice Template

    If you are thinking of buying one of the many online accounting software packages, we’d advise you to read this report first.

    If you do choose to set up a limited company. which is exactly what our other 15,000 contractor and freelancer clients have done, you may like to chose SJD to help form your company. Last year alone, more than 3,000 contractors formed their Limited company on our website.

    SJD Accountancy

    SJD Accountancy are the UK’s largest specialist provider of fixed fee, Limited company accountancy services to contractors; we’ve been acting for contractors across the UK since 1992 and have more than 15,000 clients.

    We are the only national specialist firm of contractor accountants with offices nationwide. SJD Accountancy has more qualified staff than any other firm in our market with qualifications from the following major tax and accountancy bodies – ATT, AAT, CTA, ACCA, CA, ACA and FCCA.

    • Unlimited face to face meetings. This is a unique service only SJD Accountancy offers – unlimited face to face meetings across the UK – tax is complicated and sometimes only a meeting will do.
    • UK’s Largest contractor accountants with more qualified staff. No call centres, no outsourcing, no automated call handling. Simply telephone, email or meet your own dedicated accountant face to face.
    • Money back service guarantee . All your telephone calls and emails will be answered the same day or we will make a full refund of that months fee.
    • Outstanding reputation. We have won more awards for customer service and accountancy excellence than any other firm in our market, including: Best Acc ount ant for Contractors, Accountant of the Year and Best Professional Service Team to name just a few.
    • All inclusive low cost fixed fee accountancy package which includes completion of accounts*, payroll bureau, dividends and corporation tax computations, personal taxation, free bookkeeping software, your own dedicated accountant* and all company returns for a fixed fee starting from £120 plus VAT per month. Check our packages for more detail.

    Form your own Limited company with SJD – our same day online company formation service includes company bank account set up, VAT/PAYE registration and advice on optimum share structure.

    You may also find the following pages, guides and case studies useful:

    • Take home pay calculator – How much could you be taking home
    • Contractor FAQ – All your frequently asked questions and their answers
    • First time Contracting or Freelancing? – A summary of the alternatives along with pros and cons
    • Choosing a contractor accountant – The factors to consider when choosing an accountant
    • Step-by-step Guide to Contracting – Download a FREE copy of our guide
    • Limited or Umbrella? Can’t decide? – We help you decide which is best for you
    • Guide to Contracting – All the best guides to contracting in one place
    • Expenses Guide – Know exactly what you can claim
    • Umbrella company guide – Everything you ever wanted to know about umbrella company services
    • IR35 Guide – A great plain English guide to IR35

    *If you would like us to complete your company year end accounts we simply ask that you have been a client of SJD for one year or have made 12 monthly payments. All accountants are part or fully qualified.


    Tax Investigation Advice and HMRC Voluntary Disclosure – Forths Tax Disclosures #tax


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    You can come to us in confidence

    We are robust in our approach

    We communicate clearly

    Our approach is thorough

    We are on your side

    We work with accuracy

    Tax Investigation Advice and HMRC Voluntary Disclosure

    Forths provide specialist tax investigation services and assist individuals in making a voluntary disclosure of unpaid tax to HMRC in order to clear up their tax position.

    Correspondence from HMRC notifying you or your company of an investigation into your tax affairs is never going to be an easy thing to receive. If you find yourself subject to a tax investigation by HMRC you will need an experienced professional team by your side to help you through the process and achieve the best possible outcome. We have a wide range of experience in dealing with HMRC.

    Forths are experienced in advising individuals and clients of professionals through tax investigations brought by HMRC, when they have received an Accelerated Payment Notice (APN) and in assisting through voluntary disclosure facilities.

    As HMRC continues to crack down on tax evasion, it is developing more and more initiatives to target those suspected of tax avoidance in order to reduce the estimated 34bn tax deficit. If you hold an offshore bank account, have undeclared income from investments such as property, or suspect that you may fall onto HMRC’s radar, you should seek professional advice. You can call us on 0113 387 5670 in complete confidence to discuss your circumstances.

    Tax Investigation Advice

    For many people, it is not an option to sit tight and hope that a tax investigation may not arise. There are thousands of tax investigations currently ongoing. It is vitally important that you obtain professional advice right from the start of a HMRC investigation.

    Our tax investigation services include specialist expertise relating to:

    HMRC Voluntary Disclosure

    We are also highly experienced in guiding clients through making a voluntary disclosure of unpaid tax to HMRC.

    Our team can assist you in making a voluntary disclosure of unpaid tax or through a Contractual Disclosure Facility (CDF) as part of HMRC’s Code of Practice 9 (COP9).

    HMRC also launched the Worldwide Disclosure Facility (WDF) on 5th September 2016 as an option for anyone who has undeclared foreign income, investments and assets including offshore bank accounts. The Worldwide Disclosure Facility has replaced voluntary disclosure facilities such as the Liechtenstein Disclosure Facility (LDF) and British Crown Disclosure Facilities such as the Guernsey Disclosure Facility, Jersey Disclosure Facility and Isle of Man Disclosure Facility, which were made unavailable as of 1st January 2016.

    One thing is for sure, HMRC will continue to close the net on those it suspects of tax evasion. With stiffer penalties, Accelerated Payment Notices (APNs) coming into play, and the risk of criminal prosecution, the time to act is now before HMRC makes the first contact with you.

    To find out more about our tax investigation services and how to make a voluntary disclosure, you can call us in complete confidence on 0113 387 5670 or fill out an Enquiry Form .


    Charities that Accept a Vehicle Donation – Give a Tax Receipt #tax


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    Charities That Accept A Vehicle Donation

    Vehicle Donation – Opening the Doors to Charities Nationwide


    Donate my car

    Donate a Car Canada makes it easy for ANY Canadian Charity to benefit from vehicle donations nationwide. Most charities are not set up to directly receive vehicles as a form of donation. The process is too complicated, time consuming, and costly for them, thus making it a difficult or impossible form of fundraising.

    Our simple process makes it possible for more charities to benefit from the generosity of donors like you. We expertly handle all aspects of processing your used cars. send the net sale proceeds to the charity, and then the charity mails you the tax receipt.

    All Charities Listed Alphabetically

    A Better World Canada

    Our vision is to create a better world. Our mission is to deliver sustainable foundations needed to improve lives, in partnerships with local community leaders, development organizations and government ministries. Donate Now

    Ability New Brunswick

    Since 1956, Ability NB has empowered the independence and full community participation of persons who have a spinal cord injury or mobility disability by providing innovative services and developing progressive public policy. Our services include Rehabilitation Counselling, Case management/servic. e coordination; vocational/employment counselling; community development & advocacy; sport, recreation & active living; and information services. Donate Now

    Access County Community Support Services

    Supporting and strengthening Essex County through locally-driven services, advocacy and strategic community partnerships. Donate Now

    Accessible Housing

    Our Vision:Everyone has a home and belongs in community. Our Mission:We open doors to homes that are accessible and affordable for people with limited mobility. Our Values Compassion:genuine caring that motivates our response to the needs of others. Community:working together. to create spaces of belonging. Leadership:the capacity to transform vision into reality. Empowerment:taking responsibility to see what is possible and make it happen. Donate Now

    Accredited Supports to the Community (ASC) Association

    Accredited Supports to the Community works with people from all walks of life. We have been providing support to adults and children with disabilities since 1974. We support people to work, to learn, to lead and to play. Donate Now

    Adoption Council of Canada

    The mission of the Adoption Council of Canada, while broadly serving the entire adoption community of adopted persons, birth families, and adoptive families, focuses on three main objectives: -To raise awareness about the number of children available for adoption in Canada’s child welfare sy. stem, and to facilitate programs that will promote the placement of waiting children in permanent loving families. -To connect with provincial adoption agencies and organizations and support them in our common goals, by assisting them in communicating with government and the private sector about their specific provincial challenges. -To recognize and promote the need for post-adoption supports for all members of the adoption community. The ACC strongly believes that education, communication and connection to medical, social, psychological and educational resources are essential in ensuring the success and longevity of adoptive family relationships. Donate Now

    Adoption Options

    Building Families and Creating Futures Donate Now


    Boat Donations #donate #a #car #for #tax #deduction


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    You Really Make a Difference in people’s lives!

    Welcome to the nicest national 501-C-3 NON-PROFIT boat donation center in the USA. Our charity workers are on hand six days a week to answer all your questions. We accept boats and yachts from all across America. We are very selective about the causes that we serve. We also allow our donors to designate other causes and charities that benefit from their yacht, boat or jet ski donation. Your boat donation enables us to produce life-changing values-based children’s books & animations as well as uplifting media for teenagers. When you Donate a Boat, YOU REALLY MAKE a Difference in people’s lives!

    Fast, Friendly, and Professional

    We know that transferring a boat is a difficult process. We have years of experience and have successfully processed thousands of donations. Because of the generosity of our many boat donors we have been able to fund our children’s outreaches worldwide! Please fill out our Online Form or Call Us at 800-227-2643. Along with our Donation Package we will also send you a sample of one of our many children’s programs. Thank you, the Boat Angel Team.

    Get tax savings while helping others! Receive a tax deduction and change a life!

    Let Us Help You!

    Please give your boat even if it is not in running condition. We make all the arrangements to pick-up your boat, yacht or vessel at no cost to you.

    You can receive the full fair market value as a lawful IRS tax deduction for your boat. Donate a boat today!.

    Get free boat pick-up,

    Get free boat pick-up, whether she runs or not (restrictions apply)! Avoid all the headaches of selling a used boat — there are no expensive want ads, no taking phone calls, no showing the boat, no price haggling.

    Immediate Free Wonderful Service: We will arrange to pick-up your boat donations anywhere in the United States now. We supply you with the necessary legal paperwork so you can claim your tax deductible charitable vehicle donation.

    Call us free-of-charge on 1.800.227.2643

    or Our DIRECT PICKUP LINE 1.602.903.4449

    How to Donate your boat in 50 seconds or less!

    To complete the process of donating a boat make sure to print your receipt.

    God’s promise for our web site and organization, “And the LORD shall make thee the head, and not the tail; and thou shalt be above only, and thou shalt not be beneath.”

    BoatAngel Proudly Supports Mercy Ships!

    “We thank you so much Angel Ministries for your support of Mercy Ships. We are using your funds to further outfit our newest hospital ship which will have 6 full operating theatres, 70 hospital beds and over 450 rooms.”

    — Don Stephens, Director, Mercy Ships

    What World Leaders say about Mercy Ships!

    “For many years now, Mercy Ships has provided medical services for the poor throughout the world. You’re reaching out to people in need – feeding the hungry, caring for the lonely, and giving urgent medical help to those who need it. I have every hope you will continue to reach more and more patients in the years beyond. I know you will continue your mission of bringing hope and healing to those who need it most. May God continue to bless you in your important work.”

    — George W. Bush – Former President, USA

    “Their work goes beyond healing and comforting the sick. it provides a sense of hope that is badly needed in the places they work. I am delighted to give my support to Mercy Ships.”

    — Tony Blair – Former Prime Minister, UK


    IRS PAYMENT ADDRESSES – Tax Debt Advisors Inc #tax #settlement #with #irs


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    IRS Payment Addresses

    There are so many places to make payments to the IRS. If you have received correspondence asking for payment and you agree with the payment amount, there is usually a voucher or envelope or a return address that can be cut and inserted into the provided envelope. Here is some basic addressed for individuals making payments to the IRS.

    When making a payment to the IRS, enclose a check made payable to the “United States Treasury.” Make sure your check includes your correct name, address, social security number, daytime telephone number, the tax year and tax form to apply the payment.

    If you are a self-employed individual, i.e. file a Schedule C or F with your Form 1040, and you live in the following states:

    Connecticut, District of Columbia, Delaware, Georgia, Illinois, Indiana, Kentucky, Maine, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Vermont, Virginia, West Virginia, Wisconsin

    Alabama, Alaska, Arizona, Arkansas, California, Colorado, Florida, Hawaii, Idaho, Iowa, Kansas, Louisiana, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Mexico, North Dakota, Oklahoma, Oregon, South Dakota, Texas, Utah, Washington, Wyoming

    If you are a wage earner, i.e. not self-employed, and you live in the following states:

    Florida, Louisiana, Mississippi, Texas

    Alaska, Arizona, Arkansas, California, Colorado, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Montana, Nebraska, Nevada,
    New Mexico, North Dakota, Ohio, Oklahoma, Oregon, South Dakota, Utah, Washington, Wisconsin, Wyoming

    Alabama, Connecticut, Delaware, District of Columbia, Georgia, Kentucky, Maine, Maryland, Massachusetts, Missouri, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Tennessee, Vermont, Virginia, West Virginia

    Send your payments here:

    Internal Revenue Service Center
    Cincinnati, OH 45999-0010

    Internal Revenue Service Center
    Ogden, UT 84201-0010

    Send your payments here:

    Internal Revenue Service Center
    Austin, TX 73301-0010

    Internal Revenue Service Center
    Fresno, CA 93888-0010

    Internal Revenue Service Center
    Kansas City, MO 64999-0010


    Wesley snipes tax problems #wesley #snipes #tax #problems


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    On August 31, 2010. Seattle Police Officer Ian Birk shot John T. Williams to death in broad daylight, in downtown Seattle, WA, and was permitted to simply quit the police force and move away.

    In 2005 WA State Trooper, Michael Idland. was permitted to plead guilty to misdemeanor counts despite having sexually assaulted at least nine women in fake DUI traffic stops and subsequent arrests, thus avoiding the requirement that he register in the future as a sex offender. He received administrative pay during his 16 months in jail pending trial.

    These are just two examples. in just one American city (Seattle, WA), that prove the criminal justice system to be wholly inept, and indifferent, when it comes to serving justice in the instances of crimes committed by public servants. Far too numerous to count or review, these instances and this systemic inadequacy are utterly unacceptable, and they serve to prove that community action is required to reacquire and preserve a civil society for America�s children, its women, and the family.

    CITIZENS OVERSIGHT COMMISSIONWe the People have to address this problem on our own because our servants have failed us. When a group of competent individuals can confirm that a crime has, in fact, been committed by a public servant, without the participation of or interference from, prosecutorial authorities, political pressure can then be asserted to diminish or vanquish altogether the official right of the perpetrator to approach any individual in the future about any matter related to their office.

    Decency, security and liberty alike demand that government officials shall be subjected to the same rules of conduct that are commands to the citizen . In a government of laws, existence of the government will be imperiled if it fails to observe the law scrupulously. Our Government is the potent, the omnipresent teacher. For good or for ill, it teaches the whole people by its example. Crime is contagious. If the Government becomes a lawbreaker, it breeds contempt for law; it invites every man to become a law unto himself; it invites anarchy . To declare that, in the administration of the criminal law, the end justifies the meansto declare that the Government may commit crimes in order to secure the conviction of a private criminalwould bring terrible retribution. Against that pernicious doctrine this Court should resolutely set its face .�

    See Olmstead v. United States. 277 U.S. 438, 471-485 (1928).

    OBJECTIVE – Members of the commission or panel will be studious and versed in weighing evidence and testimony against the language of criminal statutes to accurately determine which crimes, if any, have indeed been committed against the individual who approaches the panel for a determination. If successfully proven, a statement affirming the accusations will issue, and the accuser will then be armed with the public�s view of the conduct, in writing, and could then approach the media and, more importantly, the superiors of the accused, with reasonable proof that public service on the part of the accused should be terminated.

    A PUBLIC RECORD – The cases heard by the commission will be formally presented and argued at hearings, video recorded, and placed on the commission�s YouTube channel, and the documents relating to the case will be posted in an orderly fashion on the commission�s web site. Documents will include proof of service showing that the accused was given a chance to appear and defend, and that radio, t.v. and news outlets have been apprised of the commission�s findings and the places where more information is available.

    GETTING THE WORD OUT – From individual instances of abuse to systemic fraud and extortion, the occasions when justice is truly served are virtually nonexistent. The public has to know of the commission�s existence and goals, and it must be within the reach of victims of government abuses. Social networking, online and otherwise, must be a part of the commission�s activities in the first months of its existence. The education and experience behind this effort are substantial and will prove in stark detail many ways the law is subverted on literally a daily basis, and in every state, county, and city.

    . Nevertheless, merely disagreeing with the law does not constitute a good faith misunderstanding of the law because all persons have a duty to obey the law whether or not they agree with it.

    See Ninth Circuit Model Criminal Jury Instruction 9.42.

    On its face, this is an attractive argument . Petitioner urges that, in view of the severity of the result flowing from a denial of suspension of deportation, we should interpret the statute by resolving all doubts in the applicant’s favor. Cf. United States v. Minker. 350 U.S. 179, 187-188. But we must adopt the plain meaning of a statute, however severe the consequences . Cf.Galvan v. Press. 347 U.S. 522, 528.

    See Jay v. Boyd. 351 U.S. 345, 357 (1956).

    THE LAW IS PERFECT – With only statute as the tool of choice, standard operating procedures of municipal, state, and federal agencies and courts will be exposed as mere racketeering schemes, or worse, in relation to income taxation, motor vehicle code enforcement, and other daily intrusions that have become all too familiar and menacing. This effort is a step boldly taken into the personal space of the individual who would have everyone believe that honest Americans have no remedy. Don’t tread on me.


    Bankruptcy Attorney Orlando #florida #bankruptcy #lawyer,orlando #debt #settlement #attorney,medical #issues,loss #of #job,divorce,bad


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    Orlando Bankruptcy and Personal Injury Attorney

    If you have been injured in an accident please click HERE so we can get to work for you.

    You’re reading this right now because you are considering bankruptcy but you are concerned how it will affect your future or if you will lose your car or house. The truth is most people don’t lose anything but their debt. After filing bankruptcy, you may become debt free. No more calls, no more lawsuits. Suddenly, the worlds feels a bit brighter and filled with possibilities. Filing bankruptcy is not failure. It is a unique financial planning tool that can change your life. But that word bankruptcy. When you think of the word bankruptcy, do you get a sick feeling? It is okay; most people do. No one looks forward to filing bankruptcy. But unfortunately, a great deal of people have no other choice. I know I didn’t. Yes that’s right. I filed bankruptcy before. And guess what? It is not nearly as bad as the word sounds. When your bills have gone unpaid for months and you continue to earn the bare minimum just scraping by, hiring an Orlando bankruptcy lawyer is sometimes the best option. Or maybe you are up to date on paying your bills since you have been withdrawing from your 401K and have finally come to the realization that you just can’t keep up the payments anymore. A great many people think they should enter into a program with a debt settlement company or a credit counseling program before filing bankruptcy. The problem is most times these companies get you into a worse situation than before.

    There are others that may be reading this right now that think they are either too young to file bankruptcy or scared to file because they heard they will lose their car or family and friends tell them not to do it. I want to breakdown all the misconceptions and give you the truth during a free consultation with me. I want to share with you my own personal experience with filing bankruptcy and it how it can eliminate your debt, stop harassing debt collector calls and let you sleep at night again. Our Orlando Bankruptcy Attorney Firm helps clients obtain debt relief by filing Chapter 7 or Chapter 13 Bankruptcy and we will continue to help our clients restart their lives.

    We understand that most unpaid debts are the result of medical issues, loss of job, divorce or bad luck. Many of our clients even find themselves in a situation where they are being sued by a debt collector; CACH, LLC, Capital One, Chase Bank, Portfolio Recovery. Did you know that if you file bankruptcy, these debts and most judgments against you will most likely be discharged in an Orlando Chapter 7 bankruptcy. You are probably in a situation where you are trying to figure out what to do. You have probably been thinking about filing bankruptcy in Orlando and Kissimmee for quite some time, but you were worried about what you have heard about filing bankruptcy. Stop worrying. Most people recover from a bankruptcy on their credit report within two years.

    Bankruptcy Lawyers in Orlando and Kissimmee

    The Orlando Bankruptcy Law Firm of Walter F. Benenati, Credit Attorney P.A. has a commitment to aggressive, relentless advocacy on behalf of each client to stop creditor harassment and to help individuals and families get a fresh start. Though as aggressive as we may be in defending your rights, you are not going to see us parading on websites or advertisements looking tough. WE DO NOT HAVE LAWYER EGOS. We understand what our clients are going through. We treat our clients with respect and compassion. That is how we do business. Whether you are the real estate agent that has not sold a property in months, the construction worker trying to put food on the table to feed his family, or the janitor down the street working two jobs, we have devoted our professional careers to helping our clients with their problems and take extreme pride in the results we achieve for them through Chapter 7 or Chapter 13 bankruptcy .

    If you are feeling overwhelmed by your debts, we can help. We are not a law firm with twenty lawyers where you will get lost in the shuffle. In our bankruptcy law office, WE DO ALL THE WORK FOR YOU WHEN WE FILE YOUR CASE. Trust our dedication to providing effective representation while focusing on your needs. Like our slogan says, “Life Has A Restart Button.” Let us help you restart your life.

    Call us today at 407-BANKRUPT (407-777-7777) or complete our online form to reset the clock and discuss your need for debt relief in a free office consultation with experienced Orlando, Kissimmee, and Sanford Bankruptcy Attorneys .


    Should business owners donate through their corporations? #donate #automobile #tax #deduction


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    Should business owners donate through their corporations?

    By Jacqueline Power in Tax September 10, 2014

    Incorporated business owners who wish to donate to charity often wonder whether the donation should be made by the business or by the shareholder personally. To advise them properly, there are several factors you should consider and discuss with clients.

    It’s important to note that regardless of whether the charitable donation is made personally or by the corporation, there is a limit to the amount that may be claimed. Individuals can claim a non-refundable tax credit on up to 75% of net income. The limit is increased to 100% in the year of death and in the year preceding death. For corporations, the same 75% limitation applies; however, the donation is claimed as a tax deduction against taxable income.

    For both people and corporations, if the donation cannot be used in one year, it can be carried forward for up to five years.

    Let’s consider three examples to see whether it’s better to donate personally or through a corporation.

    Example 1

    Your client is an incorporated business owner who has $10,000 to donate to charity. The corporation is an Ontario-based Canadian-Controlled Private Corporation (CCPC) eligible for the Small Business Deduction, so a $10,000 charitable donation will reduce the corporation’s tax by $1,550 ($10,000 x 15.5%).

    If, on the other hand, the client makes a $10,000 donation personally from cash on hand, the tax savings is approximately $4,600 ($10,000 x 46%), ignoring the lower tax credits on donations up to $200. Based on these assumptions, the after-tax cost to the corporation of donating $10,000 to charity is $8,450, compared to a cost to the individual of only $5,400. As a result, it may be more advantageous for the business owner to donate to charity with personal sources of cash.

    We assumed the business owner had the money on hand to donate to charity. How might things change if the business owner had to take income from the corporation in order to be able to donate? Let’s look at that situation in more detail.

    Example 2

    For your business owner client to have cash to donate to charity, she needs to receive a salary or dividend. Let’s look at a salary example first. In order to withdraw $10,000 from the corporation, the business owner will pay income tax on this additional income. Assuming a 46% tax rate, the business owner will be liable for approximately $4,600 of personal income tax.

    Based on our assumptions above, the $10,000 donation to charity will generate a tax savings to the business owner of approximately $4,600. As a result, the additional taxes owing on the salary is offset by the tax credits from the charitable donation. Therefore, if the business owner needs to pull additional salary out of the corporation in order to make a donation, she may be better off simply by having the corporation make the donation. In addition, the donation creates a cash flow problem, since the business owner will have to come up with additional sources of cash in order to contribute the full $10,000 to charity.

    Example 3

    Is it more beneficial for the business owner to take dividends? If dividends are paid out of the business, the business owner will end up with approximately $5,370 after the corporation and shareholder pay tax on the income, representing an overall tax liability (46.3%) similar to that of salary being paid to the shareholder (46.4%). In this situation, as above with the salary example, because the business owner will receive a non-refundable tax credit of approximately $4,600, the net tax savings from this strategy would be negligible. As a result, it may be better for the client to make the donation directly from the corporation rather than paying out income to donate.

    Opco or Holdco donation?

    Another factor to consider is whether the corporation has active business income, or whether it is an investment holding company. We’ve seen that in the case of active business, it may make more sense for the client to make the charitable donation with personal sources of cash (Example 1). However, what if the corporate dollars comes from a holding or investment corporation? In that case, it may make sense to have the holding or investment corporation make the charitable donation instead of a personal donation. Why? Because taxation of investment income within a corporation is typically much higher than active business income in a CCPC.

    Let’s look at an example. If $10,000 is donated through an investment/holding company, the corporation’s tax will fall by $4,617. As you can see, the end result is essentially the same as if the business owner were to donate personally as outlined in Example 1. Therefore, the decision whether to donate personally or through a holding or investment corporation is indifferent from a tax perspective. As a result, there are two non-tax questions to answer:

    1. where does the business owner have the money to donate, in the corporation or personally? and
    2. does she want the donation in the name of the corporation, or in her name?

    Summary

    When a business owner asks you the best way to make a charitable donation, determine the most cost-effective way method. It’s not always best to donate personally.

    Originally published on Advisor.ca


    Tax Information for Holiday Homes #tax #relief #specialists


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    Tax information on holiday lets

    Tax may not be the most exciting thing to think about when you start running your own holiday let, but it is important to consider. With our years of experience and knowledge, we’re here to make the whole process as hassle free as possible and answer any queries you have about tax. Just give our friendly team a call today for free guidance.

    What are the tax implications of running a holiday cottage?

    There are a number of elements that can affect the taxes you pay on your holiday let, but with Sykes you won’t need to worry as we’re here for you every step of the way. The following is a list of tax implications to consider:

    • Allowable Expenses these will need to be deducted from your gross rental income before you can work out your taxable profit. Allowable expenses include any costs associated with letting your property.
    • Capital Allowance this is for your holiday property’s furnishings as well as any equipment used outside the cottage for maintenance. You could even claim 100% of the cost for some environmentally-friendly purchases.
    • Entrepreneurs’ Relief if disposing* of a Furnished Holiday Let then you could claim Entrepreneurs’ relief.
    • VAT If your total rental income for the year does not exceed the VAT registration threshold then you will not have to pay VAT.

    We want to make sure you have all the right information and plenty of help to make holiday letting work for you. To find out more, speak to a member of our experienced property team; when it comes to holiday letting, we’re here to help.

    * Disposing of an asset can mean selling it, giving it away or transferring it as a gift, receiving compensation for that asset or swapping the asset for something else.

    What are business rates?

    Those who own non-domestic properties, including holiday lets, will more than likely have to pay business rates, which are a tax to help towards the cost of local services. However, depending upon the profit your property makes, you may be entitled to small business rates relief.

    If you are new to holiday letting, business rates may well be an area you’re still unfamiliar with, but whatever stage you’re at, we can help.

    For guidance concerning all things holiday letting, get in touch with one of our property team. They are here to guide you through everything you need to know to ensure your business venture is successful.

    Does my holiday let need to be VAT registered?

    Most holiday properties do not need to be VAT registered, however this would depend on whether your total rental income for the year exceeds the current VAT registration threshold.

    If you’re seeking further information then speak with us today. Our property specialists have the knowledge to help steer you in the right direction.

    Other frequently asked questions

    From our years of experience in helping thousands of holiday property owners, we know that tax can sometimes be an area that seems a little daunting, but it doesn’t have to be!

    Our job is to make your journey as straightforward as possible, so we’ve put together some need-to-know tax information that we hope will be useful.

    Declaring rental income
    If you have a property registered in your name then you must declare its rental income to Her Majesty’s Revenue and Customs (HMRC) as soon as possible, as you may have to pay tax.

    Qualified furnished holiday lets
    Furnished Holiday Lets are treated as a trade rather than an investment. This means you could be entitled to tax benefits such as claiming capital allowance, plus your profits will count as earnings towards your pension.

    Capital allowance
    Owners of Furnished Holiday Lets are able to claim capital allowance on the property’s furniture and furnishings, along with any equipment used outside the cottage for maintenance.

    Selling your holiday let and Capital Gains Tax
    Owners of Furnished Holiday Lets can also claim Capital Gains Tax reliefs. This tax relief could help reduce the amount of Capital Gains you have to pay when disposing of your holiday let.

    Don’t forget, our friendly team is here 7 days a week, so if you need more information then give us a call.

    What is Capital Gains Tax? Put simply, it’s a tax on the profit made when disposing of an asset that has increased in value. Capital Gains Tax does apply to holiday lets; however as an owner of a Furnished Holiday Let, you may be able to claim Entrepreneurs’ relief for traders.

    We’re here to ensure you have all the information to get the best out of holiday letting, so why not request a free information pack, or call us straight away to find out how we can help? Together, we can do more for your holiday property.

    If your holiday let is made available for 140 days or more per year then you will be required to pay business rates and so won’t have to pay council tax. We find this is a great benefit as more often than not, holiday let owners pay less for business rates than they would for council tax.

    Need more information? Our team are here to help make sure your holiday let investment is successful. On top of that, our pricing analysts specialize in setting the best booking price for our owners, meaning your property will enjoy the best possible return.

    This is a special tax rule on rental income for properties that have qualified as a Furnished Holiday Let (FHL). If your property let qualifies then you could claim Capital Gains Tax relief.

    At this point, you may be wondering ‘how does my property gain FHL status?’ to qualify as a FHL your property must meet the following criteria:

    • It must be located in the UK or European Economic Area
    • It must be fully furnished
    • It must be commercially let
    • It must also be available to let as a FHL for at least 210 days of the year and must be let to the public for at least 105 days of the year
    • It must not be let for long term lets (those over 31 days) for more than 155 days per year

    When it comes to holiday letting, our local managers, along with our friendly in-house team, have lots of experience and can help you with any queries you may have. So why not pick up the phone and speak with us today?

    The whole topic of tax might seem a little daunting at first, but we have the experience and knowledge to support you from the get go, ensuring you have all the information you need to make your journey into holiday letting as simple as possible.

    There are a number of ways you can minimize the amount of tax you pay on your holiday let:

    • Capital Allowance can help you claim up to 50% back on furniture and furnishings as well as equipment used outside your property for maintenance. You could even claim up to 100% of the costs back for purchases that count as environmentally friendly.
    • Entrepreneurs’ Relief can help you reduce the amount of Capital Gains Tax you pay when disposing of your holiday let.

    Sykes work hard to make sure your holiday letting experience is as seamless as possible. Our property team are available daily to discuss any queries you have, and whatever you need from an agent, we can help, so get in touch for some friendly guidance. We can’t wait to hear from you.

    How much could I earn with Sykes?

    We understand that letting properties can be a main source of income and a full-time job, so we want to make sure you’re offered a competitive price.

    *Please note that these are estimates based on historical booking data, lowest price set at 1 bedroom to max set at 4. For a more accurate price ring 01244 617719 .


    Tax Investigation Advice and HMRC Voluntary Disclosure – Forths Tax Disclosures #tax


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    You can come to us in confidence

    We are robust in our approach

    We communicate clearly

    Our approach is thorough

    We are on your side

    We work with accuracy

    Tax Investigation Advice and HMRC Voluntary Disclosure

    Forths provide specialist tax investigation services and assist individuals in making a voluntary disclosure of unpaid tax to HMRC in order to clear up their tax position.

    Correspondence from HMRC notifying you or your company of an investigation into your tax affairs is never going to be an easy thing to receive. If you find yourself subject to a tax investigation by HMRC you will need an experienced professional team by your side to help you through the process and achieve the best possible outcome. We have a wide range of experience in dealing with HMRC.

    Forths are experienced in advising individuals and clients of professionals through tax investigations brought by HMRC, when they have received an Accelerated Payment Notice (APN) and in assisting through voluntary disclosure facilities.

    As HMRC continues to crack down on tax evasion, it is developing more and more initiatives to target those suspected of tax avoidance in order to reduce the estimated 34bn tax deficit. If you hold an offshore bank account, have undeclared income from investments such as property, or suspect that you may fall onto HMRC’s radar, you should seek professional advice. You can call us on 0113 387 5670 in complete confidence to discuss your circumstances.

    Tax Investigation Advice

    For many people, it is not an option to sit tight and hope that a tax investigation may not arise. There are thousands of tax investigations currently ongoing. It is vitally important that you obtain professional advice right from the start of a HMRC investigation.

    Our tax investigation services include specialist expertise relating to:

    HMRC Voluntary Disclosure

    We are also highly experienced in guiding clients through making a voluntary disclosure of unpaid tax to HMRC.

    Our team can assist you in making a voluntary disclosure of unpaid tax or through a Contractual Disclosure Facility (CDF) as part of HMRC’s Code of Practice 9 (COP9).

    HMRC also launched the Worldwide Disclosure Facility (WDF) on 5th September 2016 as an option for anyone who has undeclared foreign income, investments and assets including offshore bank accounts. The Worldwide Disclosure Facility has replaced voluntary disclosure facilities such as the Liechtenstein Disclosure Facility (LDF) and British Crown Disclosure Facilities such as the Guernsey Disclosure Facility, Jersey Disclosure Facility and Isle of Man Disclosure Facility, which were made unavailable as of 1st January 2016.

    One thing is for sure, HMRC will continue to close the net on those it suspects of tax evasion. With stiffer penalties, Accelerated Payment Notices (APNs) coming into play, and the risk of criminal prosecution, the time to act is now before HMRC makes the first contact with you.

    To find out more about our tax investigation services and how to make a voluntary disclosure, you can call us in complete confidence on 0113 387 5670 or fill out an Enquiry Form .