Every year companies face lots of problems while paying the taxable income to the Internal revenue service. This is because the company has to show all the businesses occurred during the financial year to the Government. After observing all the tax details, then the taxable income is calculated to be filed in the form. The company owner should contain all the document and detail while calculating the taxes to be paid to the government. It requires expertise of the owner in filling the forms...Read Full Story
By Jeannie ChapmanIt can be confusing and frustrating to file taxes without the assistance of a tax professional. Even though there are programs that make the filing process easier, there are instances when you need guidance. One of them is when you have complex tax returns that include many itemizations, credits and other details. By working with professionals who deal with tax preparation Houston TX residents can significantly simplify the tax filing process. Tax preparation services can...Read Full Story
Have you determined what tax planning opportunities are available for you to put in place? Are you familiar with the tax changes, Medicare Surtax, and Net Investment Income updates? If not, here’s your chance to review some of them.
This is the fourth installment of 2013 and Beyond Tax Planning
which can also be downloaded from our eBook library.
Provisions and Tax Changes that were set to expire on December 31, 2012
Changes that have been extended:
The Two Marriage Penalty Elimination...Read Full Story
If you're planning to work with a tax preparer, it's important to always be honest about your money moves. Business Insider has compiled seven examples you'll want to share next time tax season rolls around.
When it comes to making your money work for you, transparency is key. Just like it's important to disclose potentially embarrassing life events to your wealth adviser, it's equally, if not more, important to be honest with your tax preparer.
RELATED: 10 Common Tax-Filing Mistakes to...Read Full Story
When your uncle loans you $10,000 to tide you over, is it taxable income? No. What about when the bank loans you $100,000? No again-- provided it’s a real loan and not income. That’s a key distinction that lands lots of taxpayers in trouble. But if it’s a real loan and the loan is forgiven, it's income THEN. Taxpayers need to be clear about what does, and does not, constitute taxable income, according to Forbes Magazine's Robert Wood.Read Full Story
President Barack Obama’s call to raise the minimum wage has long been met with resistance from congressional Republicans, but Rep. Joe Barton (R-Texas) took things a step further by suggesting the minimum wage be done away with entirely.
“I think it’s outlived its usefulness,” Barton told National Journal in a story published Thursday. “It may have been of some value back in the Great Depression. I would vote to repeal the minimum wage.”
The story didn’t include any specifics on why Barton...Read Full Story
By Robert Reich“Redistribution” has become a dirty word, conjuring up worthy “makers” forced to hand over hard-earned income to undeserving “takers.” But as low-wage work proliferates in America, so-called takers are working as hard if not harder than anyone else, often at more than one job.
Yet they’re still not making it because the twin forces of globalization and technological change have reduced their bargaining power and undermined their economic standing — while bestowing ever greater...Read Full Story
Tax season is fast approaching. Find helpful links and information about filing your taxes