Tax evasion under federal law means that either you, or someone you rely on for income, or someone that you trusted to file an accurate tax return on time, has failed to do so. This means that if discovered, the IRS will bring both civil and criminal charges against you, and soon. How to defend yourself best against such charges? Retain a competent and experienced tax evasion attorney or tax fraud attorney to act on your behalf and take charge of...more
Grants for Tax Counseling for Seniors The U.S. government offers a number of grants to non profits through a number of its offices. One particular grant offers money for nonprofit establishments to make available counseling to senior citizens to assist with completion of their annual tax returns.The Internal Revenue Service has allotted $5.1 Million for the 2011 Fiscal Year to aid the Tax Counseling for the Elderly (T.C.E.) ProgramThe IRS,...more
Finding An Accountant To Look After Your Tax Liabilities When you hire on a tax accountant, they are tasked with the duty of giving you insight into how your taxes should be filed, as well as apprise you of any legal means to save money on your taxes. They will keep you compliant with the IRS so they do not come after you, and they can give you advice on your spending habits and investments.When it comes to your business, additional services can be rendered by putting a professional tax accountant to use. Not only will a tax accountant monitor and analyze cash flows, but he or she can go over any information necessary as the time to file taxes approaches. Furthermore, a tax accountant can help you use the law to work for you instead of against you, garnering the many tax breaks that are available.A tax accountant works for both the IRS and you; they will keep the IRS happy by helping you pay, but they will give you the most cost efficient way to do so, helping both parties in the long run. If you have a tax accountant who is not up to snuff, however, they will try to get you to break laws and go through all kinds of ethical hoops. That might save you a bit more money, the...more
How the Little Things Can Add Up to Big Tax Savings The last few weeks I've been sharing how to create habits that enable you to use your taxes to build your wealth. Here are the habits I have shared so far:Habit #1: Avoiding tax advice that is for the general populationHabit #2: View every day as an opportunity to reduce your taxesHabit #3:...more
Cutting Your Property Taxes in 10 Steps What are Property Taxes?Taxes an individual pays are calculated by multiplying the estimated value of the property and subtracting any applicable exemptions.Property taxes are surging in price and so studies reveal that they jumped more than 35% in five years.The property is assessed by determining...more
Service Tax is a type of oblique tax forced on specific services which is called taxable services. These service taxes can't be charged on any type of services that aren't incorporated within the checklist of taxable services. In order to enlist new services, over the past few years, service tax been extended a lot.The aim behind charging service tax is to lower the quantity of depth of taxation on business and commerce devoid of forcing the federal government to compromise on the revenue needs. The intention of the federal government is to slowly amplify the record of taxable services until the time most services come within the range of service tax. For the goal of charging service tax, the value of any chargeable service needs to be the entire quantity charged by the service provider.In Malaysia, service tax applies to some particular set of goods and services that embody food, drinks, tobacco, provision of rooms for lodging and premises for conferences, conventions, provision of accommodation, cultural and trend shows; health services, and meals by private hospitals.In Malaysia, the taxation services firm include professional and consultancy services provided by accountants,...more
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So, April 15th is closing in fast... and you haven't, or can't, complete your tax forms. It happens to some of us, and it's understandable. Filing for a tax extension can be your answer, but don't think it gets you out of paying. The extension does...more
How to Pay Affiliates and Meet Minimum IRS Tax Records As an online business owner, you will need to pay your affiliates. When you pay affiliates, it comes with increased tax responsibility and of course, paperwork. One good place to start is...more
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Can A Tax Accountant Help You? You should look into hiring a tax accountant if any of the following points apply to you...You lack knowledge of tax law basics - If you want to work on your own tax returns, you have to know about expense...more