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Articles about or concerning Taxes, IRS, Tax Tips, Bookkeeping, Deductions, Business or Personal Taxes, Tax Software, Federal Tax Liens, Tax Strategy.
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How an Offshore Voluntary Disclosure Program Can Help You

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 Bruce Markey (March 17, 2017)  If you are an individual that knew you were supposed to be reporting your foreign income or assets, but failed to do so, you still have the option to make things right. By partaking in an offshore voluntary disclosure program, you will be given the opportunity to make right the wrongs of the past. Although you might have acted intentionally by choosing not to disclose your foreign .. (Taxes)

Bookkeeper in Richmond Hill – A Boon to the Business Houses

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 Ethan Cox (February 28, 2017)  Any businessman, at any part of the world, does the gravest mistake of his life by failing to hire a bookkeeper with a mindset that he can manage every aspect of his business on his own. With the business still being young, managing the books of accounts might not be an issue in the first place; but as the business grows this definitely becomes a very difficult job for a single person .. (Taxes)

What Is an International Tax Consultant

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 Bruce Markey (February 27, 2017)  As the old saying goes, the only things sure in life are death and taxes. Fortunately, taxes are less of a mystery than one’s final departure from this earth. That said, however, tax regulations can change rather dramatically from one region to the next, and some foreign tax laws can seem downright mysterious to outside investors that’s why an international tax consultant is . (Taxes)

Protecting Your Assets with the Offshore Voluntary Disclosure Program

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 Bruce Markey (February 15, 2017)  Trump may be setting a bad example for all of us in this respect, but financial secrecy really isn’t as common as it used to be anymore. Whether or not you thought it was likely, the US government is paying attention to your offshore finances, and they are beginning to crack down on those who have failed to disclose their offshore assets unless they disclose those assets with the .. (Taxes)

Reporting and Understanding Tax for Expats

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 Bruce Markey (January 19, 2017)  What is an Expat? If you are an expat, it is important that you understand the taxes that you are responsible for, no matter where in the world you happen to be. An “expat, ” short for “expatriate, ” is defined as a person who is either temporarily or permanently living in a country other than the one in which they were born and raised. Expats are individuals who . (Taxes)

International Tax Consultant : What Do They Do?

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 Bruce Markey (November 21, 2016)  If you own and/or operate an international business, it is important for you to work with an international tax consultant. By doing so, you will ensure that your business runs smoothly, not only in your home country, but also within every country in which it operates. Don’t leave your taxes up to chance with individuals who do not understand the inner workings of international law . (Taxes)

Importance of Choosing the best Accountant in Scarborough

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 Ethan Cox (October 21, 2016)  What are the things that you will have to make sure of when you are planning to get the top notch accountant service? You need to make sure that you are choosing the best of the deals in the area. Accountant in Scarborough is available at an ample rate, but you will have to make sure that you are choosing the best of the deal. There are certain things that you need to make sure of. .. (Taxes)

A Brief FAQ on US Expat Tax

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 Bruce Markey (October 20, 2016)  Many people who earn income overseas are confused about how their incomes work with the IRS and the American taxation system. To that end, here are a few commonly-asked questions that people ask about foreign incomes, foreign, investments, and the US expat tax. The answers will provide some clarifications and offer insight into how you can pay less tax. How is my foreign income taxed? .. (Taxes)

How does the US Expat Tax Affect You?

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 Bruce Markey (September 26, 2016)  An American citizen living internationally must pay taxes to the United States each year. This is in addition to any local taxes that they may be paying. This Expat Tax is mandatory and can be met with severe penalties if not properly calculated. This tax, much like living in the United States, has conditions and even exclusions under certain circumstances. The IRS can audit a tax .. (Taxes)

How to File for a Tax Extension?

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 Bruce Markey (June 15, 2016)  Filing for tax extension is an option available to people through which they can ask for extra time for filing their tax return. The entire procedure is quite easy and simple. However, it is crucial for tax payers to be aware of all the rules and guidelines involved in the process. Once the request for tax extension is granted the deadline for filing tax return gets extended for six .. (Taxes)

How to Apply for a Tax Extension : The Process

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 Bruce Markey (June 14, 2016)  With the tax day approaching, everyone gets busy to file their tax return by the deadline, which is April 15. However, there are people who might need more time for preparing their return, because of personal obligations or any other reason, and they can apply for a tax extension. In order to get an extension of six months they need to submit their request to the internal revenue .. (Taxes)

Essential questions you need to ask when working with your business accountant

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 Julie Lord (April 28, 2015)  All businesses are advised to have an accountant. Nevertheless, in order to make sure you get the most from your chartered accountant, you need to ask some key questions. In this post we will reveal some of the essential questions you should always ask when working with an accountant for your small business finances. How can I lower my expenses without compromising quality? This is .. (Taxes)

Taxpayers can Breathe Easy by Filing Online Tax Extensions

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 Bruce Markey (April 16, 2015)  Filing tax extensions online is a convenient way for taxpayers to avoid penalties for late submission of returns Paying taxes are a necessary part of a citizen’s social obligation. Income tax return is filed once a year along with due taxes. However, sometimes taxpayers may be in a situation where they cannot prepare and file their return by the deadline. Failure to file returns .. (Taxes)

What is Research and Development Tax Credit?

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 Bruce Markey (April 07, 2015)  The new regulatory bill that is passed by the Government of Texas helps businesses avail the research and development tax credit. If your business venture is in any of the Texas cities like Austin, Houston, San Antonio, Fort Worth or Dallas, you can claim for this benefit. What expenses qualify for this benefit? If your business ventures are experimental in nature, or it is into .. (Taxes)

Business taxes: an Overviewfor Small Businesses

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 Julie Lord (March 19, 2015)  Tax can seem like a bit of a minefield for new business owners. The last thing you want to do is erroneously pay the incorrect tax and thus find yourself facing a huge fine as a result. This is why all businesses are advised to hire a chartered accountant in London. Nevertheless, whether you hire an accountant or not, you still need to be aware of the taxes you are liable for. You .. (Taxes)

How to Use Form 4868 for Tax Extension?

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 Bruce Markey (March 17, 2015)  When the time arrives to file your income tax returns, you start to collect all your finance related information for the year. However, while doing so you might realize that you do not have all the adequate information required to file the tax. You might need more time. The IRS allows you to file your taxes a little later. This is by submitting the form 4868 and this process is called .. (Taxes)

Tax Credits For Research And Development

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 Julie Lord (March 02, 2015)  Are you missing out on research and development tax credits? A lot of companies are eligible to claim bank thousands of pounds from HM Revenue & Customs(HMRC) in the form of R&D tax credits, yet they don’t realise it. To ensure this does not happen to you, read on to discover everything you need to know… First and foremost, let’s establish what these tax credits are. . (Taxes)

What You Need To Know About Paying VAT

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 Julie Lord (January 28, 2015)  Many people, especially in the IT business, work as self-employed contractors through a personal service company (PSC). This can create a tax-efficient way of offsetting tax liability by claiming certain expenses that would not be possible for a permanent employee doing the same job, and certainly until now tax advisors would have recommended taking advantage of the existing rules. One .. (Taxes)

All You Need To Know About Federal Tax Extension

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 Bruce Markey (January 21, 2015)  April 15 aka Tax Day is a dreadful day for many, especially for those who are not ready with their tax return files or the amount due as a tax payment. A lot of people find filing tax returns to be a very tedious task which requires a lot of financial documents. While a few do not have the time and patience to go through these documents, a few others wouldn’t have all the required . (Taxes)

Eligibility Criteria for Texas Research and Development Tax Credit

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 Bruce Markey (December 15, 2014)  Research and development (R&D) is one of those integral part of a business organization or corporation without which it is hard to imagine its progress. An organization needs to bring in innovation in its operational structure from time to time, to update its objectives and come up with something new and improved on a regular basis. However, research and development requires a lot of .. (Taxes)

How to File For a Tax Extension Online

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 Bruce Markey (November 13, 2014)  Before knowing how to file for a tax extension, it is better to know about tax returns and when and why tax extensions are used. A tax return is a document filled and presented by the taxpayer himself stating his annual income which can be used as a tax liability by the IRS. The deadline to submit the tax return form 1040 is April 15, beyond which the taxpayer is subject to penalties .. (Taxes)

Frequently Asked Questions (FAQ) about Federal Tax Extension

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 Bruce Markey (November 11, 2014)  Filing tax return forms is certainly not easy as baking a pie and eating it. The tax return form 1040 has almost 77 line units to fill which requires a lot of time, patience and loads and loads of meticulous calculations. Gathering all the relevant and required documents, bills and receipts is another painstaking task that drains out energy and time. A lot of people give up on filing .. (Taxes)

State of Maryland Collection Activities for Delinquent Personal Taxes - 2020 Tax Resolution

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 Ian K Jackson (September 26, 2014)  There are a few ways you can find yourself in trouble with the Comptroller of Maryland for personal tax liability. You can forget to file your state income tax return, fail to pay income taxes, or be a business owner and fail to ensure the business compliance with the state tax requirements. If any or all of these things happen, the best advice is to take control of the situation before . (Taxes)

NY Department of Taxation Income Execution

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 Ian K Jackson (September 26, 2014)  Having tax liability is always a burden, and this is not only because your penalties and interest on the amount that you owe grow extremely fast. Unresolved tax debt always leads to collection actions, and it is just a matter of time for your bank accounts to be levied or income garnished by taxing authorities. The terminology for these actions varies from state to state, but the .. (Taxes)

IRS Revised Guidelines for Student Loans and Delinquent State Taxes - 20/20 Tax Resolution

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 Ian K Jackson (September 26, 2014)  On May 24, 2012 the Internal Revenue Service revised its Interim Guidance for Allowing Payments for Student Loans and Delinquent State and Local Taxes. What does this decision mean for the taxpayer? If you have an outstanding personal tax liability, the IRS usually gives you an opportunity to pay off the balance due, along with the assessed interest and penalty, via Installment .. (Taxes)

IRS Tax Debt - 2020 Tax Resolution

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 Ian K Jackson (August 21, 2014)  It is often easier to prevent an illness than to treat it. The same can be said about getting tax debt relief. However, it is not always possible to avoid falling behind on taxes. Sometimes, events occur that prevent people from making deposits on time, or from sending enough money to full pay tax due on returns. What can be done to resolve this type of situation? The IRS has two .. (Taxes)

State of Alabama Department of Revenue - Collection Process

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 Ian K Jackson (August 06, 2014)  If you operate a business that is registered in the state of Alabama, and accrued tax liability or failed to file state tax returns, there is something you need to know. As a business owner or an officer responsible to file and pay taxes on behalf of the business, you might be personally assessed with some or all of your business tax liability. If you operate as a sole proprietorship, .. (Taxes)

How to Resolve Your Tax Debt with the State of Alabama

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 Ian K Jackson (August 05, 2014)  Under certain circumstances it might be difficult or even impossible for an Alabama taxpayer to full pay his or her tax debt in a timely manner. If this is the case, the Alabama Department of Revenue can consider payment back taxes in monthly installments, as long as the debt, including penalties and interest, is paid within twelve months. It is sometimes possible to extend this .. (Taxes)

How To Know It’s Time To Hire A Bookkeeping Service

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 Robert Fogarty (April 21, 2014)  When you run a small business, you realize early on you’ve got to do a lot on your own that you’re not used to. Being an entrepreneur couldn’t be more different from being the employee in a large (or even a small) company. Those who are just starting out often run their business with as few employees as possible in fact, many small businesses are run by one person and .. (Taxes)

Congress Uneasy about Current Tax Policy Going into Midterm Elections

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 Frank Stafford (October 02, 2013)  Earlier this year, The New York Times featured an outstanding short article by David Leonhardt concerning the U. S. corporate tax system and the possibility of its reform in the immediate future. Among the key points in the piece is the remarkable difference in the corporate tax rates for financial entities in different sectors. Companies with easily portable products, such as .. (Taxes)

New York Department of Taxation

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 Ian K Jackson (July 10, 2013)  Past due state of New York (NY) taxes is a problem that is difficult to ignore. Although it is usually possible to resolve this issue and set up an agreement with the NY State Department of Taxation and Finance, in many cases people just choose to wait and see what happens. This is not a good practice, because any unpaid tax balance continuously increases due to the enormous amount of .. (Taxes)

Profit and Loss Addendum with Corporate Tax Planning

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 Lester J. Schwartz (April 17, 2013)  Planning tax is something that every professional has to do at sometime in his or her life. There is no getting out of this. But this is of course if a person falls well within the ambit of a payee. Every country has a benchmark as to the figures and one must make it a point to follow the rules to the tee. Otherwise, chances are that one can definitely get a nudge from the government .. (Taxes)

Save those extra bugs via tax planning

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 Lester J. Schwartz (March 17, 2013)  Tax planning is something that is associated with financial specialists, or so we think. That is not so. One can start the process with proper accounting systems in place so that the taxman doesn’t come knocking on the door. Most people run from this basic practice and end up paying more to the government than they were supposed to in the first place. Every company has a set of .. (Taxes)

Essential Elements to Be Considered In Corporation Tax Planning

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 Lester J. Schwartz (February 20, 2013)  Tax deduction is a very common term that we hear in our life. Similarly, tax planning is also very common term. Tax planning is just not extended to the level of paying taxes. It is much more than that. It is rather maximizing the benefits derived from your income. Every financial year the tax reforms are brought by the government. It is difficult for a lay man to follow the nuances .. (Taxes)

How to Get Your Tax Return Quickly

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 Vick Condecion (February 06, 2013)  For many people, tax refund is the biggest pay check they will receive all year. Thus, they tend to want it as quickly as they can possibly get it. The following paragraphs will provide you with information you may find useful in getting your tax return check fast. There was once a time when the only options you had for filing your taxes were to do them yourself or hire a professional .. (Taxes)

IRS Energy Tax Credit 2013 Through 2016

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 Vick Condecion (February 05, 2013)  Did you install Energy Efficient upgrades to your home this year? You may be eligible for a tax credit. Some home improvement tax credits for energy savings have expired and some are still in effect which you can claim today. Are your energy home improvements eligible for the tax credit savings? There are currently two available Tax Credits for adding Energy Efficient upgrades to your . (Taxes)

Getting it right with Tax registration

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 Simon M. Williams (January 28, 2013)  How hard does Tax registration have to be? If you know nothing about Tax registration it can seem like a minefield to begin. You want to pay taxes, you want to return paperwork on time but Tax registration can be over complicated and downright confusing at times. Don’t worry though, you don’t have to struggle with Tax registration or company registrations for that matter .. (Taxes)

Are you looking for a fast tax refund?

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 Vick Condecion (January 26, 2013)  The average tax refund totals more than $2,500, so you can't blame those taxpayers who are seeking a fast tax refund, as that's a good chunk of change! Many Americans eagerly wait for tax season because of the tax refund that they anticipate getting. For many people, this is the biggest pay check they will receive all year. Thus, they tend to want it as quickly as they can possibly get . (Taxes)

Payroll Tax Calculator for Federal and State

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 Mudiam Srinivas (December 22, 2012)  In a company Employer responsible to conceptual the taxes from the employee pay and these taxes compensate to the government behalf of the employee. Where the tax can be deducted for Levels like federal, state and county below level authority. Employee gets paid based on the Hourly or Wages bases, extra payment though Bonuses pay or Over Time Pay. Employee Wage depends on the Pay .. (Taxes)

Web based Payroll Tax Service and system features

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 Mudiam Srinivas (October 30, 2012)  System can pay as employees either by direct deposits or checks Or Pay cards. Generates tax forms for Federal and State payroll forms like for Federal 941, FUTA, SUTA and Withholding taxes. Integrated with major and vendors for pay-as-you go workman compensation processing . Payroll calculations for Fed, State and local tax authorities including states like PA and OH, where we have .. (Taxes)

Facts about Tax Debts for Help

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 Michaell Waugh (October 20, 2012)  We are now in the economic crisis which causes us the difficulty in looking for money, and even the rich people are in this burden. But, we cannot avoid the fact that we all have our responsibility towards the government and this includes paying of taxes. Taxes are percentage of your earnings on a particular country, and by paying your tax, you are paying back for all the help which .. (Taxes)

The IRS maintain your Tax Refund

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 Markel Silva (October 08, 2012)  Not filing income taxes can become a main problem for taxpayers if they are not cautious. The Internal Revenue Service has laws that make it greatly easier to catch non-filers and penalize the performance of not filing a tax return. We are departing to go over how the Internal Revenue Service finds non-filers, how they grip criminal tax returns and the variety of punishment that go .. (Taxes)

Accounting relevant tips for home based business owners

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 Zora Ahmed (September 11, 2012)  Accounting is a daunting topic for anyone who owns a company, however it is vital for any business owner out there. There's no running away from the accounts side of things in business, you merely won't have a business any more if you do! Employing an accountant to perform this long winded and stress filled task for you is a great idea, however there are specific things you must know .. (Taxes)

Good News For Job Seekers - Tax Deductions Just For You

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 Frank Addessi (August 08, 2012)  Looking for a job in a tough economy is tough and can be expensive. Did you know that it can also be tax deductible? If you are looking for a new job in your same field of work the cost of looking may be tax deductible on your federal income tax return. This is especially important if you are out of work when you consider that things like severance and unemployment payments are taxable. . (Taxes)

Great Tax Deductions Just For Homeowners

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 Frank Addessi (August 08, 2012)  Are my property taxes and mortgage interest tax deductible? Yes and yes. Both property taxes and mortgage interest can in most circumstances be deducted from your taxes as long as you itemize deductions. Though homeowners may strongly dislike property taxes there is a silver lining to them due to their tax advantages. You can deduct your property taxes as long as the tax is paid on the . (Taxes)

Debt Forgiveness and Your Tax Return

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 Frank Addessi (August 08, 2012)  The short and simple answer to this question is yes. Like most short and simple answers however this is not the whole story. There are many factors that play into the tax implications of forgiven credit card debt that make the answer not so simple. These factors range from bankruptcy to insolvency to whether the forgiveness was credited to a business. The IRS sites the following .. (Taxes)

Tax Deductions and Credits for the Care of Elderly Parents

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 Frank Addessi (August 01, 2012)  The number of multi-generation households is in the rise for many reasons, not the least of which is the economy. We’re also living longer and nursing home and assisted living facilities are not always the best fit the result of which is many families are coming back together with the roles of caregiver switching from parent-child to child-parent. The shift in paradigm is causing . (Taxes)

Consequences of not filing the Form 2290

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 Tyler Hall (July 11, 2012)  There are very few instances in which a heavy vehicle is exempt from filing the heavy vehicle use tax. Their exemption can range from their vehicle weight to transporting goods for the federal or state government, there are very few exceptions. In recent years, truck owner/operators have understood the importance and significance of filing the Form 2290, or the heavy vehicle use tax. It . (Taxes)

Modification Undergone by Heavy Vehicle Use Tax Over a Period of Time

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 Tyler Hall (June 26, 2012)  Comparable to the various laws and statutes that are enacted within the United States, the heavy vehicle use tax has undertaken absolutely different phases of development. The IRS has actually executed various modifications to this tax that's seen these days. The preliminary notion of the heavy vehicle use tax remains an equivalent; nonetheless numerous changes are created to the filing . (Taxes)

Success Journey as the market pioneers!

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 Anuradha Subramanian (June 25, 2012)  Taxexcise.com/ Extensiontax.com/taxifta.com …. Success Journey as the market pioneers! Simply a trusted partner for HVUT Tax filings! E-File, It as Easy as 1-2-3!!! Secret behind the Success of Thinktradeinc.com! The pioneers in the electronic filing of USA truck taxes in the market are www.Taxexcise.com, www.extensiontax.com and taxifta.com . It is interesting to know how this .. (Taxes)




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