According to UBS AG (UBSN) and Deutsche Bank AG (DBK), taxes over a 2003 compensation plan are not owed by them, which UK authorities argue that it was designed for avoiding millions of pounds in taxes and national insurance contribution on bonuses of employees. The appeal of these two banks is that separate rulings, in which they were found legally responsible for income and payroll taxes for bonuses which were paid to bankers in shares via an...more
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Great tax professionals always keep a watchful eye on the actions of Congress and the IRS, many of which may affect your tax filings. A prime example is the extension and expansion of the first-time homebuyers tax credit President Obama signed in November of 2009, which was scheduled to lapse on December 1. The $8,000 credit will now be in effect through the end of June 2010.The date for qualifying purchases has been extended to April 30, 2010 with an additional two-month period allotted to close on the purchase (until June 30, 2010). Limits on income were also raised, with single buyers able to earn a maximum of $125,000 and married couples able to earn $225,000.The act has also been expanded to allow a tax $6,500 credit for existing homeowners. In order to qualify, you must have lived in your present home as your principal residence for five consecutive years during the past eight years. If you purchase a home in 2010 you will be able to claim the credit on either your 2009 or 2010 tax return, and you do not have to repay the credit unless you sell the home within 36 months.There is also good news for military personnel in the act. Those personnel who have extended duty service...more
Since the reform and opening up, in order to attract foreign investment, China has formulated a series of foreign tax credits preferential policies, the implementation of these policies and measures making the scale of foreign businesses rapid growth.After Chinas accession to the WTO, tariffs dropped significantly and the degree of market opening...more
With tax laws constantly changing it can be a good idea to use a CPA to prepare your taxes. There are other companies that offer the service, but they often aren't cheaper and nor do they offer a personalized service. In the end what you are paying an accountant for is protection. Most families and most small business's can benefit.A CPA is a certified public accountant. They can prepare taxes, handle audits, and even save your records from year to year. If certified, your preparer will have to partake in continuing education and they will also have to own or work in a business that is run according to the current laws. This coupled with experience in tax preparation protects you from a costly audit because of a preparers or your own mistake.Of course there are people out there that really don't need the services of a professional to file taxes. If you are required to file a 1040EZ or 1040 and you plan to take a standard deduction, a preparer is not necessary. It is when you first buy a home, have self -employment income or a small business that you will want to hire a professional.If you fit the description of someone who does not need a preparer but still insist on paying to have...more
Author: EricIncome taxes are levied by the Federal government, most states, and some local governments. Federal governments usually attempt to assure the collection of income taxes by requiring certain pay-as-you-go procedures (e.g., withholding...more
Barber might be willing, but return to NFL won't be easy Someone hasn't told Tiki Barber, soon to be 36, that running backs are a tad passé once they hit 30 years of age. Or, that taking off for four seasons and trying to come...more
2011 NFL Draft Preview – Defensive Line NFL Picks Over the past few years the focus in the first round of the NFL draft has shifted somewhat away from the skill positions, other than quarterback, and has gravitated more towards the...more
Payment taxes are a huge source of revenue for government. It invites tax payments from business owners, companies and individual taxpayers. So any delay in tax payments will invite many issues such as penalties, legal notices and other compliance....more
Using Cost Segregation Studies To Tax Advantage The Noted English economist John Maynard Keynes once stated that "[t]he avoidance of taxes is the only intellectual pursuit that carries any reward." While the absolute truth of that...more