Many good stories begin with an extraordinary idea – usually somebody else’s. This one is no different. Two old friends, partners in a new-age web commerce business, stopped for a coffee at one of their favorite bistro bars in Los Angeles, after another routine...
For 18 years I have been preparing income tax returns for individuals. Unfortunately even as a tax preparer I miss deductions on my client’s tax returns but for those who prepare their own returns I am certain these 10 tax deductible items are almost always overlooked. 1....
Bank levy is seizure of money lying in the bank account of the tax payer. In all cases of levy, thirty days notice is given by the IRS to the tax payer. This is the final notice for intent to levy and this gives the tax payer a chance to seek relief from proposed action...
Fringe Benefits and Taxes With the ongoing controversies in Washington D.C. over health care and the tax implications for employer-paid plans, there seems to be some premature concerns about health care plans currently utilized by employers to cover their employees. The...
Our tax system would have a pretty hard time being more complex. If you are like most Americans, you hear terms like tax deductions, tax credit, adjusted gross income and you want to know more, but you never really do any research. It is not until you really need to know...
Now a day, where the ambiguities and problems in service tax are being settling down, two burning issues are still puzzling both the service provider and service receiver with regard to
Your business structure is set, so you think it’s time to open for business. Not yet. There’s one more issue to resolve before you’re ready to open your doors
1. First, contact your employer and request your W-2. It’s the law. If they don’t release it, and you don’t have it by the middle of this month, you can report them to the IRS. Your employer will be charged a penalty, but unfortunately it’s...
Are you one of the many who think that in order to save taxes, you have to first generate some sort of income? Though many consider tax planning and tax savings to be one in the same, let’s not get ahead of ourselves. After re-negotiating credit card debt, some find...
Pay less tax! Now there is a phrase I am sure we would all love to hear and rather than we then wake up to realise it was all a dream, perhaps this time we hear it for real! Less tax to pay! What do you most look for when seeking an accountant? Perhaps locality is the most...