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24th September 2009
What is now the best way to save for college expenses?
In my professional opinion, for most people, It's the 529 College Savings Plans. They are now worth a very serious look!
Section 529 of the Internal Revenue Code (the actual name) was put into p... Read >
Author: wbdoyle23rd September 2009
The mere mention of an IRS audit strikes fear in most people. While audits can be painful, there is one step up from an audit that is down right horrific. Yes, in investigation for a tax crime by the Criminal Investigations unit.
The Criminal Investig... Read >
Author: Thomas Ajava23rd September 2009
My survey produced an interesting anomaly--- several respondents felt that excessive consumer spending was the primary cause of the economic problems we face today, and that spending is not to be encouraged.
But the root problem they were correctly sp... Read >
Author: Steve Selengut16th September 2009
My recent survey produced a variety of ideas, but most of them had these common elements: replace the Internal Revenue Code with a simpler model, encourage businesses to increase employment, and insist upon tort reform everywhere.
It also brought two ... Read >
Author: Steve Selengut09th September 2009
NSA MemberLink: April 30, 2008
ABUSIVE WELFARE BENEFIT AND RETIREMENT PLANS CAN LEAD TO SEVERE PENALTIES FOR ACCOUNTANTS
By
Lance Wallach
Accountants who are unaware of recent developments are likely to encounter a nightmarish scenario that may ... Read >
Author: Lance Wallach30th August 2009
Whenever you have stocks, bonds, or real estate that you sell for more than what you bought them for, you have something called a capital gain. Capital gains are subject to capital gains tax, which can range from 5 to 15% in the United States of America.... Read >
Author: roseywriter28th August 2009
Section 1031 of the internal revenue code provides the flexibility to the investors in the real estate sector in the United States to defer the capital gains taxes earned by selling properties. The section is applicable on investment properties and states... Read >
Author: Lokesh Nagpal25th August 2009
Most Miami couples file their joint income tax returns. Meaning, both of them are legally held to be individually and jointly responsible for the payment of the rightful sum of taxes. The spouse who has a limited source of income is made to be held respon... Read >
Author: Danial Holland25th August 2009
Gold
Welcome to the nitty gritty details of investing in gold and other precious metals with your self-directed IRA. Gold has become a great safe haven investment in troubled economic times.
Gold IRA
First, some history. The IRS initially said... Read >
Author: andreamarie23rd August 2009
A business and commercial attorney specializes in laws that govern business transactions.
They handle issues and concerns like things related to the sale and distribution of goods and services, the financing of credit transactions, and negotiable inst... Read >
Author: Mesriani Law Group08th August 2009
While there are many advantages to running a Small Business, there are inherent pitfalls if it is not run efficiently and effectively. Tax Planning is a key element that needs careful attention. This is a year-round process with meticulous details being p... Read >
Author: rickcarstens07th August 2009
Health Savings Accounts are one of the most exciting tools available to fight increasing health care cost. Health Saving Accounts (HSAs) were included in the Medicare legislation enactment created December 2003 to become effective January 2004. The Bill i... Read >
Author: Jesse Segle04th August 2009
Taxes are based on laws. Since laws are made by human beings, they are imperfect. A good Georgia tax attorney can help you because of this innate imperfection of laws. How?
First of all, let us consider the factor of time: no man can predict what will ... Read >
Author: Danial Holland01st August 2009
Copyright (c) 2009 Jeffrey Matsen
Its not often that you beat the IRS and have them refer you clients later, however this was the case in this true story about a small business owner.
Peter was the President of a small manufacturing company and acte... Read >
Author: Jeffrey R. Matsen11th July 2009
Taxes have perennially been a part of human history since time immemorial. Now more than ever, the increasing impact of taxes is felt and impacted many individuals especially during economic downturn. Thus, the existence of 1031 Exchanges particularly in ... Read >
Author: F. Morgan20th June 2009
In the United States, we have two types of partnerships, several types of trusts, and two types of corporations.
There are basically two types of partnerships:
•General partnerships - unlimited liability
•Limited partnerships - limited liability... Read >
Author: shreebest18th June 2009
It’s a pretty safe bet to say that the vast majority of folks do not have an understanding of the Alternative Minimum Tax. In this next “mini-series” of articles we’re going to try to give you just an outline of it, not a full-semester course as o... Read >
Author: kinal18th June 2009
It’s a pretty safe bet to say that the vast majority of folks do not have an understanding of the Alternative Minimum Tax. In this next “mini-series” of articles we’re going to try to give you just an outline of it, not a full-semester course as o... Read >
Author: kinal18th June 2009
From Title 26 of the United States Code - also known as the Internal Revenue Code:
“Subchapter A of chapter 1 (relating to determination of tax liability) is amended by adding at the end thereof the following new part:
"Part VI – Minimum Tax fo... Read >
Author: kinal18th June 2009
From Title 26 of the United States Code - also known as the Internal Revenue Code:
“Subchapter A of chapter 1 (relating to determination of tax liability) is amended by adding at the end thereof the following new part:
"Part VI – Minimum Tax for... Read >
Author: kinal12th June 2009
To increase sources of funding maybe the answer is to take a look at your employee benefits for additional savings. How about 17.65% or more off you health insurance premium? You deserve a better standard of living.
If you have health insurance with y... Read >
Author: Martin Braddock18th May 2009
Tax Accounting for Your Business
In the United States, the method of accounting for finances in order to report taxes properly is called tax accounting. There are laws that govern taxes, and these laws provide principles to report taxes by in a very c... Read >
Author: Uma A Ilango13th May 2009
The term “tax evasion” encompasses an entire spectrum of actions and schemes undertaken to skirt the required payment of taxes. However, people often get tax evasion confused with tax avoidance, even though the two are significantly different.
Th... Read >
Author: Roni Deutch13th May 2009
The term “tax evasion” encompasses an entire spectrum of actions and schemes undertaken to skirt the required payment of taxes. However, people often get tax evasion confused with tax avoidance, even though the two are significantly different.
Ther... Read >
Author: Roni Deutch13th May 2009
Many people view April 15th as the end of tax season and enjoy the idea that they don't have to deal with their taxes for another year. I look at April 15th a little differently. I see April 15th as the time to start planning your taxes for the next yea... Read >
Author: Tom Wheelwright12th May 2009
When the government tells you that you qualify for a tax deduction, you should take it. Don't claim more than you deserve, but take everything you've got coming. There is no honor in paying more taxes than you really owe. Using your Health Savings Acco... Read >
Author: Wiley Long15th April 2009
Leading compression apparel manufacturer, Marena Group, started out in 1994 as a husband – wife team from the couple’s home in Atlanta, Georgia. Today, it has grown to become a world leader in post surgical compression garments manufacturing. The comp... Read >
Author: MarenaGroup10th April 2009
How? More ideas! Maybe the answer is to take a look at your employee benefits for additional savings. You deserve a better standard of living. How about 17.65% or more off you health insurance premium?
If you have health insurance with your employer, sev... Read >
Author: Financial Technician09th April 2009
By Laurie Bachelder and Rajeev Kotyan, Principals, NUA Advisors, LLC
Self-directed retirement accounts (SDRA) allow for a variety of investments, beyond the traditional securities markets (namely stocks, bonds, and mutual funds), which provide for grea... Read >
Author: nuaadvisors09th April 2009
People who are self-employed, whether as sole proprietors or as business partners, may establish retirement plans for themselves under a law named for the congressman who introduced it. Known as Keogh or HR-10 plans, they receive beneficial tax deferrals... Read >
Author: Edward Hulse03rd March 2009
For homeowners: Cut the interest rate on all mortgage loans by 50 basis points and extend the payment schedule by three to five years. Convert all variable rate loans to fixed, at prevailing rates, and extend the payment schedule by six to ten years. No f... Read >
Author: Steve Selengut25th February 2009
Compared to the rest of the country, the Texas markets continue to see positive growth due to the low cost of living, diverse economies and an attractive business climate. Opportunities are out there for the people (and companies) who are poised to take a... Read >
Author: ssara45825th February 2009
Compared to the rest of the country, the Texas markets continue to see positive growth due to the low cost of living, diverse economies and an attractive business climate. Opportunities are out there for the people (and companies) who are poised to take a... Read >
Author: ssara45811th February 2009
Real Estate Investment Trusts (REITs) were created in the 60s so that all investors would have access to income-producing real estate through the purchase and sale of liquid securities.
Real Estate Investment Trusts (REITs) were created in the 60s so tha... Read >
Author: Robert Shumake15th October 2008
Taxes are based on laws. Since laws are made by human beings, they are imperfect. A good Georgia tax attorney can help you because of this innate imperfection of laws. How?
First of all, let us consider the factor of time: no man can predict what will... Read >
Author: Jake Saab13th October 2008
A 1031 exchange is often referred to as a starker exchange. It is a section contained in the internal revenue code providing for the sale of a investment property such a real estate into the purchase of one or more other “like kind” properties.
At ... Read >
Author: Poly Muthumbi05th September 2008
Cost segregation identifies applicable components and establishes the value and correct time line for depreciation. Under typical circumstances, depreciation is spread out over as long as 39 years. However, cost segregation applies depreciation to parts... Read >
Author: PatrickO'Connor17th August 2008
If your major interest is information related to the Iowa income tax or any other such as income tax advice, file income tax, 2008 income tax forms or New York income tax return, this article can prove useful.
In the long run, it pays to work within t... Read >
Author: deepak kulkarni17th August 2008
If your major interest is information related to the Minnesota income tax or any other such as refund state tax, income tax filing, and income tax return form it 2 or 2008 federal income tax rates, this article can prove useful.
Once you have complete... Read >
Author: deepak kulkarni16th August 2008
It's difficult to provide accurate income tax checks information, but we have gone through the rigor of putting together as many income tax checks related information as possible. Even if you are searching for information somehow related to tax incentives... Read >
Author: deepak kulkarni18th July 2008
+ PAYMENTS ARE EXCLUDED FROM GROSS INCOME. Tax-free pursuant to § 104(a)(2) of the Internal Revenue Code (Title 26 U.S.C.) if based on personal physical injury or physical sickness, or to fund future payments for a workers’ compensation claim under §... Read >
Author: Robert Risk05th July 2008
It's hard to read the newspaper or listen to radio and not hear ads for donating one's vehicle to charity - regardless of their claims, it take some effort on your part to donate a car for tax deduction purposes and benefit everyone involved. In a perfect... Read >
Author: theAlexanGroup25th May 2008
In the hours and days immediately following the tragic attacks on America of 9/11, there was much speculation about the effects on the general aviation industry. While the events of September 11, 2001 have had a significant impact on the economy as a whol... Read >
Author: Daljit kaur22nd May 2008
In the hours and days immediately following the tragic attacks on America of 9/11, there was much speculation about the effects on the general aviation industry. While the events of September 11, 2001 have had a significant impact on the economy as a whol... Read >
Author: Daljit kaur07th May 2008
One strategy companies have used in recent years is to reward employees with options to purchase a certain amount of the company's stock for a fixed price after a defined period of time. The employee is not required to exercise the option. Usually (and ho... Read >
Author: Tom Wheelwright07th May 2008
For many insurance agents, the single employer welfare benefit plan is complicated and confusing at best. The plans are cloudy, and many agents are waiting for the air to be cleared before they begin to introduce this to their clients. Others, still unawa... Read >
Author: JCarlson01st May 2008
Using SS# enables you to track and locate missing individuals. Through this method, you are given the opportunity to find missing loved ones, old friend, or witnesses or criminals to a crime. Even authorities and government agencies have resorted on using... Read >
Author: Ed Opperman 29th April 2008
When the income tax was first introduced in the early 20th century, it was a flat rate on high-income taxpayers. As the Government needed more money, the rate increased and the tax base broadened to include more and more people. If this were the end of th... Read >
Author: Tom Wheelwright14th April 2008
This is the time of year when all Americans think about their tax situation and what they might do differently to reduce their heavy tax burden. There is a record of an ancient civilization that was required to pay 50% of their earnings to their captors. ... Read >
Author: Tom Wheelwright25th March 2008
1031 Exchanges are excellent tools to reduce income taxes. Known both as "tax free exchanges" and "1031 exchanges" (based upon the enabling section of the federal income tax code) this tool allows investors to sell real estate without paying income taxes ... Read >
Author: Patrick O'Connor19th March 2008
Many people don’t understand the difference between the terms “tax levy” and “tax liens.” Oftentimes they confuse a Notice of Intent to Levy with a Notice of Federal Tax Lien. Although these two terms are both related to the Internal Revenue Ser... Read >
Author: Roni Deutch19th March 2008
1031 Exchanges are excellent tools to reduce income taxes. Known both as "tax free exchanges" and "1031 exchanges" (based upon the enabling section of the federal income tax code) this tool allows investors to sell real estate without paying income taxes ... Read >
Author: Patrick O'Connor19th March 2008
Many people don’t understand the difference between the terms “tax levy” and “tax liens.” Oftentimes they confuse a Notice of Intent to Levy with a Notice of Federal Tax Lien. Although these two terms are both related to the Internal Revenue Ser... Read >
Author: Roni Deutch06th February 2008
This article is focused on helping business owners and their advisors understand Employee Stock Ownership Plans (ESOPs) and how they can assist in developing effective Exit Strategies from a business. Even with today’s vibrant Mergers and Acquisitions ... Read >
Author: John M. Leonetti, Esq., M.S. Finance, CM&A.A01st August 2007
Knowing income tax law is not enough. In order to offer value to taxpayers, tax law knowledge must be combined with effective tax planning strategies in order to yield maximum benefit. What would you do if you owned a landscaping business with the upcomin... Read >
Author: Ron Piner, CPA25th June 2007
It is nice to make a lot of money on an investment such as real estate. However, if you do not know about the opportunity for a tax-deferred exchange, you might end up giving a lot of your profit to the taxman.
The United States Internal Revenue Code h... Read >
Author: Raynor James16th May 2007
The 401K retirement plan is funded by employee contribution and a matching employer contribution. The major feature of the plan is that the contributions are taken from pre-taxed salary. The fund accumulates tax-free until it is withdrawn. Most business... Read >
Author: Alan10th May 2007
Missing Breckenridge Colorado real estate attorney Royal "Scoop" Daniel, age 61, is now a Wanted Man. Daniel was first reported missing from his Breckenridge office on April 27th, 2007. On May 8th, 2007 the Breckenridge Police Department obtained an arr... Read >
Author: Ted Amenta02nd May 2007
If you think that increasing sales is the only way to make a business more profitable, think again! Decreasing what you spend is as essential as increasing the amount you sell. From an office chair to an office building, every purchase you make for your... Read >
Author: Mike Goldstein30th April 2007
The tax free distribution aspect of a Roth IRA has many people wanting to convert their current retirement plans to Roths.
A 401k is an employer sponsored retirement plan. It gets its name from a provision of the Internal Revenue Code that allows the ... Read >
Author: Barry Waxler21st April 2007
The IRA is a retirement vehicle with plenty of potential, but almost no one takes advantage of it. One strategy for getting the most out of your retirement dollars is to buy real property.
Have you ever heard of buying property with an IRA? Probably no... Read >
Author: Barry Waxler12th March 2007
What is now the best way to save for college expenses?
In my professional opinion, for most people, It's the 529
College Savings Plans. They are now worth a very serious
look!
Section 529 of the Internal Revenue Code (the actual name)
was put... Read >
Author: mark jeffrey20th February 2007
It is presumably everyone’s wish that they are able to retire comfortably in their later years, having given perhaps the majority of their adult lives to their chosen profession and paid their dues along the way. Unfortunately however, as we all know,... Read >
Author: Jonny Strong15th February 2007
If there is something people enjoy less than preparing their tax returns, it is hard to imagine. If you look to another to do the job, be very careful who you pick.
The internal revenue code is a beast of government inefficiency and confusion. I dare ... Read >
Author: Richard Chapo12th February 2007
It was Albert Einstein who said physics was easy compared to trying to prepare his taxes. You probably feel the same way. The tax code is full of oddities, and here are a few that will make you roll your eyes.
The internal revenue code is thousands of... Read >
Author: Richard Chapo09th February 2007
More than a few people prefer to form corporations to protect their businesses, but look for a more favorable tax situation. The answer, of course, is the S-corporation.
For a long time, corporations were the dominant business entity available to mos... Read >
Author: Richard Chapo06th January 2007
Every business must retain certain records on their current and past employees, but which ones and for how long?
On the federal level, there are two agencies that regulate record keeping. First is the IRS, which is responsible for enforcing the Interna... Read >
Author: Charles Read07th December 2006
There are many reasons available to invest in the real estate. Investing in a real estate is said to be safer as well as profitable. This became a route cause for you development.
The essential part of the real estate is its growth line. Nowadays, eve... Read >
Author: ron victor05th December 2006
As we all know, an IRA fund is a great way to invest in your future by deferring taxes and building equity for retirement. The fluctuating state of the stock market has many people feeling unsafe with their current investments. As a result, more and mor... Read >
Author: Kathy Fettke23rd November 2006
The question of IRA vs 401k leaps to mind when setting up a small business retirement plan. Do you know the differences between plans? What does the Internal Revenue Code allow and restrict? Why should you even care? Because if you sell fixed indexed annu... Read >
Author: Gary Le Mon04th October 2006
What are these concerns called structured settlements? Why do they persist and what are cardinal plusses and negatives? Structured settlements are also styled as episodic payments. They are laws that the judicial process recognizes where the defendants de... Read >
Author: Life Insurance For Seniors15th September 2006
Is a sideways stock market and bad investment decisions preventing you from building wealth in your retirement account? If so, you might be interested in a small, but growing, trend among smart and savvy individual retirement account ownersinvesting thei... Read >
Author: Jason Lee01st September 2006
AN EMPLOYEE QUIT LAST YEAR AND YOU'RE PRETTY CERTAIN THAT YOU SENT HIM A COBRA NOTICE, BUT CAN=T PROVE IT. YOU WANT TO KNOW YOUR POTENTIAL LIABILITY? B IT COULD BE STAGGERING!
An employer is required to notify an employee and qualified beneficiaries o... Read >
Author: Terrence B. Robinson08th August 2006
A property transaction related to a 1031 exchange into a Tenant in Common property could have a great impact on the financial stability of a person. Any mistake or a wrong decision in regards to a 1031 exchange can put you in deep trouble, besides unexpec... Read >
Author: Ray Smith03rd August 2006
A beneficiary controlled trust is fast becoming a favorite estate planning tool as rising real estate prices push up the value of middle class estates.
In a beneficiary controlled trust, the primary beneficiary acts as co-trustee and exercises nearly a... Read >
Author: Charles Lamm03rd July 2006
Section 1031 of the Internal Revenue Code (IRC) defines the 1031 exchange. 1031 exchange also known as Like kind exchange specifies that if an asset that is most often a land or a building, is sold and the proceeds of the sale are then reinvested in a sim... Read >
Author: Mansi Gupta30th June 2006
A smart tax saving tool that is gaining popularity among the real estate investors by enabling them to defer the entire capital gains tax is 1031 Exchange. Established in 1990 by the Internal Revenue Code Section 1.1031, it gives them an opportunity to de... Read >
Author: Mansi Gupta30th June 2006
A 1031 exchange or Like kind exchange is defined by section 1031 of the Internal Revenue Code or the IRC. According to IRC if an asset, most often some form of real estate such as land or building is sold and the proceeds of the sale are re-invested in a ... Read >
Author: Mansi Gupta09th May 2006
The Health Insurance Portability and Accountability Act or HIPAA, which was enacted by the US Congress in 1996, has introduced to sweeping changes in health care administration and information systems. HIPAA is a federal law that has been amended to the I... Read >
Author: Mansi Gupta13th March 2006
The vast majority of Americans are investors, although many don't realize it. The vast majority of Americans are creative with their 1040 numbers, although most won't admit it. The majority of Americans would agree that investing, retirement planning, and... Read >
Author: Steve Selengut16th February 2006
Not for Profit organizations have one very powerful advantage over For Profit companies. That advantage is the mission statement. If you spend time in a NPO, it is obvious how employees and volunteers dedicate themselves to the missions and fulfilling t... Read >
Author: Jim Lindell07th January 2006
Flexible-benefits Plan (FBP) is an employee benefits plan which helps the employees' to save considerable amount of taxes by paying certain expenses from their pre-tax income. Some of the eligible expenses from pre-tax income are medical, vision, dental, ... Read >
Author: Jakob Jelling10th December 2005
"Depreciation." For business owners, this word is the one most likely to inspire headaches and fits of cussing. The expanded provisions of Section 179 are just the medicine you need to cure the depreciation blues.
Depreciation
Traditionally, if your... Read >
Author: Richard Chapo07th December 2005
First
First, how not to go about it:
A cash loan is not the way to go.
Neither is signing as surety for a bank loan
A gift of the amount required? Again, not the best approach
But these are the three most common but wrong ways by which ... Read >
Author: David Skul30th October 2005
A 1031 exchange refers to Section 1.1031 of the Internal Revenue Code which was passed in 1990. Normally, when you sell all real and personal property, the tax code requires the payment of the Capital Gains Tax. That is to say, when you sell your office... Read >
Author: Dan Johnson15th September 2005
What does FICA stand for?
FICA stands for the Federal Insurance Contributions Act. The history of the act reverts back to the year 1935, when the government implemented the social security program. A provision to include social security taxes was in... Read >
Author: Adam Smith
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