Category Archives: tax

Is Avoiding Income Tax Moral?

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Is Avoiding Income Tax Moral? The question of income tax is a thorny one. On one hand everybody hates it, but on the other, no one seriously considers challenging it. It?s like gravity. We simply accept it as if it were a law of nature.Well it should be challenged, and here?s why. To avoid income tax by whatever legal means possible is entirely moral. And the reason lies in understanding exactly what income tax is, and what it is Read more [...]

Unreported Offshore Income? ? Take Action Now with the I.R.S. (and state tax authorities)

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Unreported Offshore Income? ? Take Action Now with the I.R.S. (and state tax authorities) The world is changing.  A tax evader should seriously consider what may be the only way to stop an illegal from becoming a criminal prosecution.  Consider a Voluntary Disclosure to clean-up the past. Based on tax law precedent going back to the 1940s, the I.R.S. and many state tax authorities have a standing policy that, generally, they Read more [...]
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Tips On How To Choose A Tax Preparer

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Tips On How To Choose A Tax Preparer How to choose a tax professional? That's an individual decision, depending on your needs and expectations. But here's a quick checklist to guide you through the process. If computing your end-of-year tax obligations requires basic information only - employment income reported on W-2s, mortgage interest and real estate taxes - and you are not looking for planning and/or financial guidance, then Read more [...]

How to Avoid or Resolve a Tax Audit and Protect the Future of Your Business

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How to Avoid or Resolve a Tax Audit and Protect the Future of Your Business Tax audits are on the rise as the government steps up IRS enforcement to fund deficit-reducing activities. Individuals and businesses - both big and small - can be financially crippled in the current economic downturn if they fail to meet their tax obligations.With business audits on the rise, it is more important than ever to know what triggers an audit, Read more [...]

US Treasury Comments On International Tax Reform

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US Treasury Comments On International Tax Reform The United States Treasury has spoken out on the issue of international tax reform at the latest in a series of hearings staged by the Senate Finance Committee to examine how the US tax code can be simplified and improved. In the comments submitted to the Finance Panel hearing on international tax reform, held on 26th June, the Office of Tax Policy of the <a rel="nofollow" onclick="javascript:_gaq.push(['_trackPageview', Read more [...]

Is IRS Enforcement of Small Business Delinquent Payroll Tax Problems Treasonous?

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Is IRS Enforcement of Small Business Delinquent Payroll Tax Problems Treasonous? How the IRS strong-arms small business delinquent payroll taxes is almost treasonous.  They can even go after you personally for payroll tax debts of a business.  Every day it enrages me that about a third of my tax relief clients are small businesses with tax problems. Small firms are vital to this country. According to the Small Business Administration, Read more [...]

Goods And Service Tax – A Consumption Based Destination Tax

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Goods And Service Tax - A Consumption Based Destination Tax V. GangadharanThe Goods and Service Tax (GST), a landmark in the history of tax reforms, after the implementation of VAT, has started its journey by the Finance Minister’s public endorsement of the dual GST model.The dual GST model will comprise of a Central GST and State GST. The Centre and the State will each legislate, levy and administer the Centre and State GST, Read more [...]

Tax Haven and the Restrictions from Chinese Laws

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Tax Haven and the Restrictions from Chinese Laws Tax shelter, which is also known as tax haven, generally refers to the countries or regions imposing low or even no tax on enterprise property or income. Tax havens are usually characterized by steady politics, convenient transportation, easy commercial environment, complete legal system, as well as strict bank secrecy laws and trade secrets law, etc. Taxpayers might take advantages Read more [...]

When Do You Pay Taxes on a Roth IRA?

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When Do You Pay Taxes on a Roth IRA? When Do You Pay Taxes on a Roth IRA?When you are choosing which type of IRA to open, there are many things to consider. One of the factors is how the taxes are handled. To answer the question of when to pay taxes on a Roth IRA, you must understand the difference between a traditional IRA and a Roth IRA. With a traditional IRA account, all of your contributions are made before taxes. This means Read more [...]

New York Tax Attorney

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New York Tax Attorney It is unlucky but true, that many New Yorkers don't even consider consulting a New York tax attorney until they open their mailboxes one day and there's that feared letter from the IRS. A tax attorney is a counsel that focuses on all areas of taxes. The tax solicitor is needed to attend law faculty for 1 to 3 more years, after regular law school, to get their Gurus in taxation. The IRS has its own group of Read more [...]