Don't Let Tax Catch You Off-Guard It is surprisingly common for individuals or businesses to get to end of the tax year and find themselves faced with a tax bill that they simply can't pay. Many times it is not even the company's fault, entrusting their accounts to outside accountants who simply don't do the job right and leave the company facing a rather hefty debt which they may not be able to pay.Unfortunately though, even if it is...more
Benefits of Washington Foreclosures and State Tax Lien Laws The Foreclosure wave has left many properties vacant and ready to sell in the State of Washington. Washington foreclosures are available for a steal and therefore present great opportunities for those who are looking for affordable housing or a chance to repair and resell for a profit. There are several benefits of investing in the state of Washington. Nearly 60% of resident...more
How To Save Income Tax In India? As per the government law, it is mandatory for every citizen to pay the income tax. Tax assessment takes place every year in the month of March. Government has given so many benefits to the taxpayers. Tax payment is applicable for a person who is generating profit by any mode either by the business or from the job. In any of the public or private limited company, there are shareholders then the tax will not be exempted on the individual basis. The calculation is based on the annual profit generated by the organization.In India, there are various tax slabs for the male and female and as per the annual salary, the tax deduction takes place. If a male individual earns (in Rs) 160,001 to 500,000, the tax would be 10% if it exceeds from 500,000 to 800,000 the tax would be 20% if it exceeds from 800,000 the tax would be 30%. Tax slabs for the female individual is different from the male individual, the tax limit for the female start from 190,001. For 190,001 the tax is 10%, from 500,000 to 800,000 tax is 20% whereas for above 800,000 tax would be 30%. To get the tax benefit, it is important to show the investment proof. Tax waiver is...more
Selecting Tax Returns for Examination by IRS Selecting Tax Returns for ExaminationAt the outset, it is helpful to understand how tax returns are selected for examination. The IRS selects returns for examinations in several ways — some based upon objective criteria coded into a carefully protected computer program and others based upon old...more
Throughout the world many businesses and businessmen undertake Offshore/Foreign tax planning to save money on the tax they would pay their governments. The main principle behind international tax planning is to, legitimately, minimize the tax obligations in your country of residence by using the benefits added within foreign jurisdictions.The requirement for Offshore/Foreign tax planningLaws of revenue and taxation are a major cause of anxiety for most people. These laws are domestic in nature, thus making it the ideal option to invest financial capital in another country. Tax and government authorities have no jurisdiction outside their domestic territory, although the efforts of the Organisation for Economic Cooperation and Development (OECD) are aimed at providing a framework for government bodies to disclose financial details of those involved in legal proceedings related to tax evasion.Tax havensA tax haven is a country in which there are minimal taxes or no taxes levied on the income of individuals and companies alike. The tax haven benefits from the fact that, the company is not allowed to carry out business transactions within the country, but to only spend or invest in the...more
If you have decided to establish your own offshore company then it will be prudent if you get the full details of the countrys tax laws as well as the required regulations concerning the establishment of offshore companies. Failing to come up with a...more
For many the tax season has come and gone for the year, but that doesn't mean that any one has forgotten their tax experience. For some they love this time of the year due to getting a nice return. They have great plans for that big lump sum of...more
New 2010 Tax ChangesWhile the above list is not exhaustive, it points out five popular deductions for taxes that may not be available in 2010. If you still have questions go IRS online tax help. You can also get last years Tax return copies online.more
This is the time of year for taxes. Filing taxes, worrying about taxes, and perhaps most importantly to Austin residents - receiving your property valuation by the Travis County Appraisal District (most should be received on May 1st). It shouldn't...more
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