Capital Gains Tax Will Be A Target In The Next Budget Capital Gains Tax will be a target in the coalition Government's budget on June 22, warns Kent lawyer Harvey Barrett. Harvey, partner and head of private client, trusts and estates at leading regional law firm Furley Page, explains: "Capital Gains Tax is payable when you dispose of a chargeable asset so if you have assets heavy with gains it's crucial that you review your...more
State and Federal Tax Controversies Tax controversies can wreak havoc with a business. An experienced tax controversy legal team can help with state and federal tax issues including audits, appeals, collections, criminal tax investigations, and civil and criminal tax litigation.While most IRS matters are resolved administratively at the audit level or the Office of Appeals without resorting to litigation, it is important to have an...more
Picking The Perfect Franchise Opportunity, Consider a Tax Franchise For many people across the country who wish to be their own bosses on a daily basis, the idea of the franchise business opportunity has proven to be very beneficial. A franchise business opportunity gives an entrepreneur a chance to try starting up his or her own business while still remaining in the safety net of an established business model. Benefits of a franchise business opportunity can include a more flexible work schedule, the opportunity to work for one's self, and a proven framework with which to run a successful business. As with any business venture, however, many consider that a franchise business opportunity also poses a fewer risks. This is why it is important to research and become familiar with the franchise company of interest before making any final decisions. Anyone interested in starting up some type of franchise business opportunity should first fully understand what is involved in making the business work. Being armed with a good amount of practical knowledge at the beginning of such a venture largely increases the odds of success with any franchise business opportunity.When...more
The Ultime Recession Resistant Franchise - Tax Preparation With Americans across the country tightening their belts, it might seem like an unusual time to start your own business. But the truth is that there's never been a better time!Did you know that the Great Depression created more millionaires than any other era in American...more
Want Long Term Success? Consider a Tax Franchise If you are considering starting your own franchise, the most important thing to examine is the state of the industry you are about to enter. This will help you determine the potential longevity of your future business. After all, if one negative fluctuation in the economy is enough to...more
IRC § 1031 Tax Deferred Exchange Overview - An IRC §1031 tax deferred exchange allows owners of real estate to defer the recognition of a capital gains tax they would have recognized when they sold their property so long as they reinvest in other "like-kind" real property.Tax deferred exchanges are not new – they have been available in one form or another since 1921, and in its current format since 1986.Exchanging allows taxpayers to reinvest money into new property held for business or investment purposes without having to pay a capital gain tax.Both the property you sell and the new property you buy must meet certain requirements.Property Types - In order to have a valid IRC §1031 tax deferred exchange the relinquished property (sale property) and the replacement property (purchase property) must be like-kind to each other and held for business or investment purposes and not primarily for resale purposes or personal use.For real estate exchanges, the properties to be exchanged do not have to be the same type or use. As long as they are both held for productive use in a trade or business (ex. restaurant or warehouse used by the owner of the property) or...more
The Tax Franchise Opportunity a Proven Winner Among Hispanics If you've always dreamed of owning your own business—but haven't found the right fit or the right financing—Tri Tax could be a dream come true. Founded by Carlos Marquez...more
Property Exchanges Defer Taxes Learned Hand earned the distinction as the "tenth Justice of the Supreme Court" by penning opinions that would be quoted by lawyers and laymen alike. In 1934, Circuit Court of Appeals Judge Hand wrote one...more
Payroll Taxes - What Wages Are Subject to Alabama Withholding? State withholding tax is the money an employer is required to withhold from each employee's wages to pay the state income tax of the employee. The employer pays no part of...more
Income Tax Mistakes to Avoid I try to make sure my clients are getting all of their tax forms filled out properly, as a bankruptcy lawyer I feel that is a responsibility of mine. You probably know what to expect if you're filing your...more
Pharmacy Transactions and Capital Gains Tax in Nevada One strategy, but not the only one, that is currently available to assist the capital gains tax burden is the Charitable Remainder Trust (CRT). CRT's are legally described as Split...more
The importance of year-round tax planning You did it! You successfully turned in your tax return by this year's deadline. That means there's no need to think about taxes for another year, right? In fact, the Michigan Association of...more