When one assesses successful individuals against ordinary individuals there is often more than luck to be thanked for their success. Generally a successful person has a plan and sets both financial and personal goals for themselves. Hiring a personal tax consultant or financial planner might be the best decision you can make for yourself and your family.Your personal financial planning must be structured in a way that takes external factors into...more
It is very important to ask the tax assessor what homes they will use to compare yours to. You need to do this since they are looking to set you up and use those comparable choices against you. You'll need to poke holes into their argument and show false values they may attach to those comparables. Introduce your more favorable comparable and shed a more logical light using principles found in our resource and it becomes a slam dunk.If the tax...more
Creating an offshore company is one way to protect your assets and still remain within the guidelines of the law. When you establish an offshore company what you are essentially doing is creating a headquarters for your company in an area that is tax friendly.Many countries are experiencing hard financial times. They have over spent and it is now time to pay their debts. However, there is not enough tax money to do this. These same countries are imposing higher taxes on any form of wealth, private or industry, and the need to protect assets is great. Using an offshore bank and an offshore company is not illegal if it is established correctly and conforms to international law. This is where Carlo Scevola & Partners comes in to play. Carlo Scevola & Partners (CS&P) is a fiduciary company headquartered in Switzerland that has branches located throughout the world. Their primary function is to provide asset protection services to their clientele. These experienced professionals will establish an offshore company that meets all international standards to protect your assets. The use of an offshore bank will further decrease your tax liabilities and expenses. When you use an offshore...more
Those that fall into the higher earners bracket have been warned that the government may impose further restrictions to pension savings in the emergency Budget on June 22.Accountants and wealth advisers have reported a surge in calls from clients that earn over 100,000 per year who are concerned that changes to pension tax relief might restrict how...more
In recent years, the IRS has made a concerted effort to get people back into good status by reaching deals on overdue taxes. The rules affecting this program have just changed dramatically. Changes to IRS Tax Settlement RulesThe IRS used to be the terror in most peoples nightmares. Specifically, people who got behind on their taxes...more
In the largest criminal tax case ever filed, KMPG has copped a plea to using fraudulent tax shelters to bilk the government out of 2.5 billion dollars. KMPG has agreed to pay a fine of $456 million dollars, but nine of its executives still are under indictment.Son of Boss Tax SheltersFrom 1996 to 2003, KMPG promoted a tax strategy known as the Son of Boss. This shelter was used to create phony tax losses that could be claimed by wealth individuals looking to write off tens of millions of dollars. KMPG promoted the structure despite the fact it's own internal tax attorneys warned the structure was fraudulent and could result in criminal charges. So far, wealthy individuals participating in the scheme have paid over $3.7 billion dollars to the IRS.There should be no mistaking the impact of the plea agreement in this case. KMPG may have enjoyed the huge fees earned from the scam, but it is paying an incredible price for pursuing this practice. The price paid includes:1. 456 Million Dollar Fine,2. Permanently barred from providing tax services to wealthy individuals,3. Permanently barred from involvement in any pre-packaged tax strategies,4. Permanently barred from...more
There are many websites on the Internet today that gives much needed income tax help for those who have no idea of what's going on during tax time. Income tax is a tax paid on income, unfortunately no matter how little it is. It's paid...more
It is unfortunate but true, that many people do not even consider consulting a tax attorney until they open their mailboxes one day and there is that dreaded letter from the IRS. A tax attorney is a lawyer that specializes in all areas...more
In today's economic hardship the changes seem giant. Just last year a number of tax laws were made to bail us out of dire situations. These are a few new tax laws that you should know about.The first is about new car sales and tax deductions. If you...more
Tom Brady hate the New York Jets Jerseys,Rex Ryan did not like the New England Patriots,this confrontation before the start of the season playing on the big war of words,and their two real battle until about 4 weeks after.Monday,Brady participated in...more
If you have any question regarding Form 1040 or seeking relevant information on this subject than this article will prove to be very helpful for you. In this article, we will highlight some of the most vital aspects of filing federal...more
Every year the number of people paying taxes increase. With this, also increase the number of people who file their taxes late. In case of late payment of taxes ones needs to file for a federal tax extension. For people who are already...more