Alternative Minimum Tax consequences are not a result of cost segregation. Nor is cost segregation accelerated depreciation. Decisions regarding cost segregation and accelerated depreciation are independent by the four options as illustrated in the following matrix:Accelerated depreciation increases the amount of depreciation taken in early years of ownership but triggers alternative minimum tax consequences. The alternative minimum tax...more
Singapore taxes support economic growth and that is by design. Whereas some countries use taxes merely as a way to collect revenue for government operations, Singapore has chosen to use taxes as a business incentive tool. The country has been so successful at managing its use of tax funds and attracting new business that taxes did not have to be raised during the recent economic crisis. Singapore boasts a large foreign reserves fund and its...more
For those of you who are involved in the trucking industry, you're probably no stranger to the Heavy Vehicle Use Tax, but others out there are just getting started and want to be sure they are meeting obligations. Even the veterans of the industry may not catch all the changes as they come. So I want to go over the different ways to file tax form 2290 to give everyone a basic idea of what's going on.What is It?For those of you really trying to get a glimpse of what it means to be a trucker, the Heavy Vehicle Tax is a tax that the government requires be paid by the professional men and women who use large machines to do business on our streets and highways.In theory, it is paid by anyone running a rig that weighs at least 55,000 pounds, including trailers and a typical full load.You May Be ExemptSome of you out there, however, may be exempt. For instance, commercial vehicles that travel less than 5,500 miles on an annual basis are not required to pay. And the same goes for agriculture rigs that don't travel any more than 7,500.There are also exemptions for other vehicles, including Red Cross, bloodmobiles, government vehicles, volunteer rescue services, and more. ...more
Version:1.0 StartHTML:0000000323 EndHTML:0000009065 StartFragment:0000002872 EndFragment:0000009029 SourceURL:file://localhost/Volumes/Guiver Consulting Time Cap/Clients/Roni Deutch/Link Building/Projects/Article Directory Submissions/7 Secrets the IRS Doesnt Want Taxpayers to Know.doc 1. Automatic Extensions Although we all rush to...more
600m Australian Oil Production Tax Loophole Exposed There has never been a better time for residential solar power. Prime Minister Julia Gillard is considering slashing residential solar power funding to help pay for flood damage recovery, so it's best to jump in quick in case her proposal is accepted.Electricity rates are on...more
All over the world, people talk of tax reforms and governments outline steps that they are taking to improve there tax systems. But how can one measure what a good reform agenda should be when it comes to tax reforms? Here are five things that every taxation agency must pursue when it comes to instituting tax reforms. 1. Making The Collection Process EconomicalOne of the most important principles that any tax reforms agenda should seek to achieve is making the process more economical. This means that the administration cost and the cost of enforcing the laws and the regulations regarding taxation should be kept at a minimum. 2. Aiming For Simplicity Another goal that tax reforms should seek to attain is the making the tax collection process simple. Many taxpayers usually complain that filing tax returns is usually quite hard task. The main reason for this is basically because the taxation authorities always seek to employ semi-legal jargon in order cover any loopholes that taxpayers might use to avoid or evade taxation. 3. Equity In TaxationApart from making the process economic and simple, the aim of any tax reforms should be to create equity in the tax payment system. This means...more
5 tax reliefs for Enterprise Investment Scheme The Enterprise Investment Scheme (EIS) was designed by the Government to provide investors with an incentive to invest in shares in small, growing, unquoted companies. Unquoted in tax terms covers...more
For large number of investors and even some proficient tax professionals, wading through the complex rules of the IRS on investment taxes could turn out to be a nightmare.Not just talking of minor pitfalls, even simple errors on your part could...more
Tax systems are meant to bring as much revenue as possible while at the same ensure that business thrive and individuals are enterprising. However in many cases we see tax systems all over the world failing in their roles or even causing the collapse...more
Of the professionals that you can turn to for help with IRS problems, tax attorneys can most effectively help you sort through legal issues. Hiring such an expert is the quickest and easiest way to get on the right track. Here are five reasons that...more
We've seen it in recent years in the NFL. With the advent of free agency and the salary cap, parity is all the rage in today's NFL. Over the past seven seasons, several surprise teams have come from seemingly nowhere to run through the...more
Author: Simon Volkov4506 tax form is used by business owners and individual taxpayers to obtain copies of previous years' tax returns. U.S. tax form 4506 is also used to grant permission for release of tax records to a third party such as...more