http://www.goinglegal.com en-us editorial@goinglegal.com A wage garnishment is a levy that the IRS has a right to issue to an employer of a taxpayer who owes the IRS money. The IRS must give proper notice to a taxpayer before it can actually issue the levy. Proper notice constitutes several form letters ending ... http://www.goinglegal.com/article_600803_75.html 16th August 2008 Most economic research suggests that tax code replacement surgery is essential for long-term economic progress. The goal of my plan is to make sure that you are not grumbling ten years from now about the same things that trouble you today. This is a fifte... http://www.goinglegal.com/article_588480_75.html 24th July 2008 There is various tax planning for the different age group are essential. In different age group the tax planning would be different. It is ideal to select each group and identify the good tax saving option. For each group, it is better to identify the ... http://www.goinglegal.com/article_585526_75.html 22nd July 2008 See The Meaning Of Words By Simply Moving Your Mouse. No Clicks Required! Do you frequently browse Web pages in foreign languages? Do you often work with documents written by your German Russian counterparts? Are you reading product documentation in a ... http://www.goinglegal.com/article_584055_75.html 22nd July 2008 SR&ED are a very important and significant financial aid to companies that make new technological discoveries. They exist in Canada and help promote growth through the development and marketing of innovative new technologies. It works almost like a ta... http://www.goinglegal.com/article_565076_75.html 27th June 2008 For the companies worldwide, tax return season is a hectic one. It is in this hurry that important tax details are overlooked while aiming for the profit curve for their businesses. Often, time is a casualty here, because the timely payment of the taxes b... http://www.goinglegal.com/article_564139_75.html 26th June 2008 We’ve all heard about the impact of the Economic Stimulus Plan on individual taxpayers, but not as much information has been reported by the media regarding its effect on small business. To stimulate a sluggish economy, Congress has included in HR5140 a... http://www.goinglegal.com/article_561781_75.html 23rd June 2008 No one wants to pay more taxes than they are lawfully required to. But sometimes in their quest for lower taxes, many people will fall prey to many scams that promise a lower tax bill. In the end, these scams are always more trouble than they are worth... http://www.goinglegal.com/article_560457_75.html 21st June 2008 Do you know what tax information you need in case you are faced with an audit? Don’t be audited and not have the right papers. Though your chance of being audited is not high, it’s better to be prepared. So what are the chances of being audited? A... http://www.goinglegal.com/article_558170_75.html 19th June 2008 Companies that develop new or improved products or processes, or make significant investments in the development of internal-use software, may be able to benefit from the research and development incentives. The research tax credit is a dollar-for-dollar ... http://www.goinglegal.com/article_555873_75.html 13th June 2008 As a small business owner, you are most likely going to incur some expenses related to the promotion of your business. Generally, most of the expenses you incur are deductible either as advertising expense or as some other expense. Some expenses are not... http://www.goinglegal.com/article_544423_75.html 21st May 2008 Millions of families are facing foreclosure because of rising mortgage payments in our ever-weakening economy. However, if you follow these simple tips you may be able to reduce the amount you pay in property taxes. Understand Your Local Tax System ... http://www.goinglegal.com/article_518611_75.html 16th April 2008 The Internal Revenue Service (IRS) is feared by millions of American’s because of their aggressive collections. However, generally they cannot make attempts to collect a debt that accrued over 10 years ago. The IRS is one of the most aggressive and... http://www.goinglegal.com/article_510923_75.html 07th April 2008 Now is the best time to start thinking about your yearend tax planning for your business? These tax strategies can be put into effect by the end of the year and some as late as when the tax return is due. Planning now will save you money and reduce your t... http://www.goinglegal.com/article_507797_75.html 03rd April 2008 Every year American taxpayers attempt to lower their federal tax liability by including any credits or deductions they can think of. Below is a list of the most ridiculous tax write-offs ever allowed by the Internal Revenue Service. Some of these deduc... http://www.goinglegal.com/article_503106_75.html 02nd April 2008 You all probably know there are a lot of firms nowadays that claim to be able to provide people with IRS tax debt settlement help. Among these we may find attorney firms specializing in tax law and debt counseling agencies that have some experience in dea... http://www.goinglegal.com/article_501356_75.html 01st April 2008 Why is it that almost every Tax Representation Firm out there needs you to owe more than $10,000 before they will take your case? The Answer is money, the money they will make off of you. I'm here to tell you, you can handle it all yourself. You he... http://www.goinglegal.com/article_501084_75.html 31st March 2008 Myth Number One: The IRS will Accept Pennies on the Dollar You may have heard the term “Pennies on the Dollar” in reference to settling a tax debt. However, 99 cents is “pennies on the dollar,” and filing an Offer in Compromise is complicated a... http://www.goinglegal.com/article_500739_75.html 30th March 2008 What Can I Expect in an Audit? In recent years, the focus of the exam division of the IRS has changed. The service used to examine claims to see if they were true or false. For example, if you claimed a charitable contribution, they’d want to see a r... http://www.goinglegal.com/article_500738_75.html 30th March 2008 Garnishment is a government seizure of a portion of your paycheck for payment of taxes. It’s also a last-resort tactic of the IRS to get its money. When a taxpayer receives a garnishment, it’s very difficult to negotiate with the IRS for several re... http://www.goinglegal.com/article_500737_75.html 30th March 2008 What Happens When Someone Doesn’t File Payroll Taxes? Many small business owners, when cash flow doesn’t cover expenses, find the necessary cash by not sending in payroll taxes. This is a big mistake. When individuals fail to file their tax ret... http://www.goinglegal.com/article_500735_75.html 30th March 2008 Knowledge is Power When you don’t know what your particular tax liability is, you can’t take action, and you can’t resolve the issue. This creates a stressful psychological state of perceived powerlessness. The great news is that you can eliminat... http://www.goinglegal.com/article_500734_75.html 30th March 2008 Often people don’t file a return because they don’t have the money to pay their taxes. Other times they miss filing because of family, health or career stresses. As a result, nothing happens: the IRS doesn’t call, their life stays the same. By the s... http://www.goinglegal.com/article_500733_75.html 30th March 2008 When you face a large tax liability, you can give the IRS an Offer in Compromise, or request a Penalty Abatement. But your best defense is to minimize your tax liability at the front end. “With most of our clients, we can show them tax deductions an... http://www.goinglegal.com/article_500732_75.html 30th March 2008 Paul hadn’t filed a return since 2000. He sells approximately $10,000,000 of food products annually with 15 employees and 20-30 subcontractors. The average individual conducts one transaction with the IRS each year. The average business owner conducts 6... http://www.goinglegal.com/article_500730_75.html 30th March 2008 Tim is a painter. When he started his company, he didn’t have enough money to pay his taxes, so he didn’t file. Tim’s situation is not unique. Many people don’t file because they don’t have the money to pay their taxes, and they think filing ... http://www.goinglegal.com/article_500729_75.html 30th March 2008 No matter how large your tax problems, you can resolve them. The associates at Tax Matters Solutions have helped clients who - Had never kept any financial paperwork: no checks, no receipts, no bills - Didn’t maintain any accounting system - Owed o... http://www.goinglegal.com/article_500725_75.html 30th March 2008 Whenever we think of Texas vacations, what primarily comes to our mind is the beautiful scenario of Alamo located in San Antonio. During the later part of the sixteenth century, the Spanish explorers crossed the Rio Grande River in order to give formation... http://www.goinglegal.com/article_496267_75.html 26th March 2008 Who hasn’t stop to think about what the local government does with your taxes at the end of the year? After all the “tax brakes” that they get, homeowners still pay a bigger share of the tax bill. When the expenses rise to the point in which they ar... http://www.goinglegal.com/article_495602_75.html 26th March 2008 The Us Government has come up with an idea on how to help reactivate the economy in the near future. With the economy falling due to many different factors such as unemployment, lack of cash flow, deceleration of economic investments etc. the country need... http://www.goinglegal.com/article_495598_75.html 26th March 2008 The United States tax code is constantly being changed and updated by Congress. It is essential to stay informed on these tax changes as they may affect your next income tax return. Foreclosure Relief The federal government finally did something over ... http://www.goinglegal.com/article_487544_75.html 10th March 2008 401K Calculators is nothing but a calculation used to determine the ability of an individual or employer/company with regards to his/its contributions towards 401k plan. For this purpose participants have been divided in three different categories. • S... http://www.goinglegal.com/article_486201_75.html 07th March 2008 It’s tax season AGAIN, and you should be looking for those tax deductions that can legally lower you tax bill. Here are some of the typical deductions that you want to make sure your tax preparer knows about so you get the write-off. 2007 Mileage ... http://www.goinglegal.com/article_473015_75.html 12th February 2008 Being a finance tax attorney necessitates tolerable understanding about the law on tax specifically that he will not only be confined to the task on behalf of his clients in the court for criminal or civil lawsuits but his task too extends up to giving si... http://www.goinglegal.com/article_465289_75.html 01st February 2008 Fragile, handle with care…Owning your own business, being your own boss; for many of you this is the American Dream. But that dream can turn into a nightmare because the IRS takes a special interest in small business owners. Why? Your business is an ... http://www.goinglegal.com/article_461145_75.html 24th January 2008 Watch your back…If you’re a small business owner you should know that you’re a high priority target for the IRS. An IRS-Hitman just waits for you to make a filing mistake on you taxes. Because when the IRS assesses a tax debt on you it’s more th... http://www.goinglegal.com/article_461142_75.html 24th January 2008 Do internet searches under the name of the business you may want to hire, and put the word "fraud" or "scam" after the business name, (THIS IS A MUST) or after the name of the representative who will be working on your case. Many so called IRS debt solvin... http://www.goinglegal.com/article_220551_75.html 28th September 2007 The IRS has taken steps to take the guesswork and confusion associated with car donation tax deduction with a new law. When January 1, 2005 rolled around, you were able to deduct the full price that the charity of your choice receives for the sale of you... http://www.goinglegal.com/article_209548_75.html 31st August 2007 What is self employment? In essence anyone who is in business either as a sole trader or part of a partnership and receives income that is not taxed under the payroll system is self employed. Excluded are Directors of companies who are offically employees... http://www.goinglegal.com/article_205306_75.html 23rd August 2007 What is Business Turnover? Sales turnover is the total amount of income a business earns before deducting business expenses. Turnover includes receipts of any kind for goods sold or work done such as commission, tips, payments in kind, fees and insurance ... http://www.goinglegal.com/article_204714_75.html 22nd August 2007 Being Self Employed in the UK carries with it responsibility to sort out your own tax affairs which requires good records of the business income and expenses to minimise tax liability. With tax rates of up to 40% of net profit, tax is an essential area ... http://www.goinglegal.com/article_201012_75.html 14th August 2007 What is Business Turnover? Sales turnover is the amount the business earns before deducting business expenses including receipts of any kind for goods sold or work done such as commission, tips, payments in kind, fees and insurance proceeds. The turnover... http://www.goinglegal.com/article_201010_75.html 14th August 2007 The Canadian government has proposed a $5.36 billion upgrade to the current mental health system. Raising the excise tax on alcoholic drinks by 5 cents per drink will fund this upgrade. Although this project is worthwhile, it contains numerous flaws tha... http://www.goinglegal.com/article_200155_75.html 10th August 2007 It is no fun when the tax men come calling. However, taxes have to be paid whether we like it or not. Taxes are our obligation to the country and we must all make sure we pay this expense. Small businesses are especially affected by the necessity of payin... http://www.goinglegal.com/article_199979_75.html 09th August 2007 Tax time is not necessarily everybody's favorite time. However, taxes have to be paid whether we like it or not. Taxes are our obligation to the country and there should be no evasion of this expense. Small businesses are especially affected by the need t... http://www.goinglegal.com/article_199795_75.html 09th 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... http://www.goinglegal.com/article_195443_75.html 01st August 2007 In an effort to discourage the levels of obesity in Britain, recent research is recommending a tax on unhealthy foods, such as those high in sugar, fat and salt. They claim that this ‘fat tax’ could prevent over 3,000 deaths from strokes and heart att... http://www.goinglegal.com/article_194023_75.html 27th July 2007 Summary: Tax season can very well be the most stressful time during the fiscal year for companies and individuals. Number crunching and expense reporting often calculates to equate numerous cups of water and several large aspirin. But beware; this annu... http://www.goinglegal.com/article_192917_75.html 26th July 2007 Hiring your children in your business can be a great tax savings strategy, as well as a way to teach your children about business and money. Wages paid to your children (between the ages 7 and 17) are a valid business deduction, as long as they do bona... http://www.goinglegal.com/article_191357_75.html 25th July 2007 You've probably read in the newspapers of various celebrities and successful business who manage to avoid or at least substantially reduce their UK taxes – whilst a significant proportion of the general public are paying close to 50% of their income in ... http://www.goinglegal.com/article_191255_75.html 25th July 2007 The Investor's Eye view of politics is a simplistic, practical, "dot-connecting" approach to sorting things out so that positive (win/win) change can be considered. Real World politics is not concerned with such things, and that is one of the most serious... http://www.goinglegal.com/article_152019_75.html 26th April 2007 A correction is a beautiful thing, simply the flip side of a rally, big or small. Theoretically, even technically I'm told, corrections adjust equity prices to their actual value or "support levels". In reality, it's much easier than that. Prices go down ... http://www.goinglegal.com/article_138437_75.html 14th March 2007 The Honorable Nancy Pelosi United States House of Representatives 235 Cannon House Office Building Washington, D.C. 20515-4322 February 24, 2007 Dear Congresswoman Pelosi, As you work to develop our next National Budget, I would like to pres... http://www.goinglegal.com/article_132659_75.html 28th February 2007 It is so easy for tax filers to misunderstand the Earned Income Tax Credit (EITC). Many filers who are entitled to receive EITC are missing out because they are not claiming it. On the other hand, those who are not qualified for the tax credit try to clai... http://www.goinglegal.com/article_130312_75.html 19th February 2007 The Omni Mandalay Hotel at Las Colinas will witness a CPE Seminar, on "Automating the Global Tax Function". The seminar is scheduled for the 12th of May 2006. Deloitte Tax LLP together with their tax counterparts around the globe will be the participating... http://www.goinglegal.com/article_91561_75.html 03rd October 2006 Each year millions of Americans give a gift to other individuals that they know. Gifts can be considered anything from a new vehicle, to a trip, to a piece of land. A gift tax is a tax that is imposed when an individual gives away a certain amount of gift... http://www.goinglegal.com/article_85302_75.html 31st August 2006 When a taxpayer owes money on their taxes they need to pay the amount owed before the traditional April 15th deadline. If the amount owed on taxes is not paid before the deadline, then federal and state governments can impose a number of late fees and pen... http://www.goinglegal.com/article_85300_75.html 31st August 2006 Overview In the Pre-Budget Report of December 2003 the Chancellor Gordon Brown announced proposals to levy an Income Tax charge from 6th April 2005 in those circumstances where the transferor of an asset retains and interest or continues to benefit fr... http://www.goinglegal.com/article_84918_75.html 31st August 2006 Introduction Deciding to make a Will and then actually putting the decision into action can be a somewhat stressful, upsetting and daunting task for some people. So it may be a little disconcerting to learn that after you have put all that effort and ... http://www.goinglegal.com/article_84908_75.html 31st August 2006 Overview In the Pre-Budget Report of December 2003 the Chancellor Gordon Brown announced proposals to levy an Income Tax charge from 6th April 2005 in those circumstances where the transferor of an asset retains and interest or continues to benefit fr... http://www.goinglegal.com/article_84907_75.html 31st August 2006 Introduction 'The Government's economic objective is to build a strong economy and a fair society, where there is opportunity and security for all." So reads the opening statement of the Labour Government's 2005 Budget. But the word 'fair' is wide... http://www.goinglegal.com/article_84870_75.html 31st August 2006 Few things threaten your well-being like the harassment and anxiety of persistent tax problems. Most people make 3 mistakes that get them in trouble with the IRS. They procrastinate. They attempt to represent themselves. They hire sub-par representation a... http://www.goinglegal.com/article_84696_75.html 31st August 2006 When the month of April rolls around most of America is preparing their income tax returns. Each year all individuals who made an income are required to report that income to federal and state governments by filing an income tax return. Taxpayers must... http://www.goinglegal.com/article_84418_75.html 29th August 2006 They say the world works on a concept known as balance. To counterbalance the joys of your honeymoon, you get the misery of filing a joint tax return with your spouse. Filing a Joint Tax Return With Your Spouse If you have recently married, you are ... http://www.goinglegal.com/article_83206_75.html 21st August 2006 If you are employed by a business, you have the ability to play with the withholding on your paycheck. Fortunately, there is an easy way to do this online these days. Figuring Out Your W-4 Withholdings What is one of the happiest days of the year? ... http://www.goinglegal.com/article_79001_75.html 05th August 2006 Copyright 2006 Ainer & Fraker, L.L.P. A living trust can help you reduce your estate tax liability to Uncle Sam. To see how this tax reduction works, let's examine the following hypothetical case: Client Family has an estate of $4 million. The h... http://www.goinglegal.com/article_68045_75.html 28th June 2006 There was once a song about battling the law and losing. Fortunately, battling the IRS is possible and sometimes inevitable. Battling the IRS There comes a time when many Americans must take action against the IRS. The IRS can come down swiftly and... http://www.goinglegal.com/article_67351_75.html 27th June 2006 The tax code for the United States is over 50,000 pages. Buried in this code is the subject of per diem rates, a topic that can save businesses money on their taxes. Per Diem Rates and Business Taxes Understanding the Internal Revenue Service and a... http://www.goinglegal.com/article_67350_75.html 27th June 2006 I'm sure you've had this experience, too. It's the first few days in April, spring is happening, and everything's cool � for about five minutes, when you realize that your taxes are due in about two weeks. I've been there. I feel your pain. You ma... http://www.goinglegal.com/article_51191_75.html 07th May 2006 DISCLAIMER: Everything contained here is information gathered by me through various news sources and IRS publications. Be sure to consult your CPA or Tax Attorney before purchasing a vehicle to make sure you qualify. Background: In the mid 1940s, Congre... http://www.goinglegal.com/article_43538_75.html 13th April 2006 An ideal lawyer will not just have a string of impressive credentials or gold lettering on his door. He or she will be caring, concerned, and devoted to their work. You need to think carefully before laying your trust in a lawyer after all in some cases y... http://www.goinglegal.com/article_42506_75.html 08th April 2006 Tax policy discussions are meant to do what? Arrive at a rational policy, or garner votes. I think it is the latter. What is lost in all the debate over tax increases versus tax cuts, is science. Contrary to what most people may think, there is some scien... http://www.goinglegal.com/article_41851_75.html 05th April 2006 : Tax Season Tips � 5 Ways to Avoid Overpaying Your TaxesAuthor: Tyler Martin, CPACopyright: 2004Given the time of year, you would expect a Certified PublicAccountant to have stacks of tax return information. Well, I dohave stacks of tax returns and clien... http://www.goinglegal.com/article_40971_75.html 01st April 2006 Tax, ugh! Tax planning makes most of our minds go numb.And paying taxes, well let's not talk about that. Or maybewe should? Just for a minute, because I actually have somegood news for you. No I'm not kidding! Read on...Here's the part you know:Employee's... http://www.goinglegal.com/article_37982_75.html 21st March 2006 Tax Mistakes 90% of Self-Employed People MakeAuthor: Tyler Martin, CPACopyright: 2004Let me share a short story with you... A self-employedfriend of mine came into may office the other day to have medo his taxes. He has been doing his taxes using a softw... http://www.goinglegal.com/article_37946_75.html 21st March 2006 cars4charities has a unique opportunity for you to get a head start on your 2006 taxes and help one of over 250 respected charities at the same time. Donate that extra car you rarely use to cars4charities. You'll be eligible for a tax deduction of $500 o... http://www.goinglegal.com/article_37031_75.html 20th March 2006 INVESTORS: AVOID THESE 5 COMMON TAX MISTAKESFor many investors, and even some tax professionals, sortingthrough the complex IRS rules on investment taxes can be anightmare. Pitfalls abound, and the penalties for evensimple mistakes can be severe. As April... http://www.goinglegal.com/article_37014_75.html 17th March 2006 by Kristi Stangeland & Carl Weiner � 2006 Simple questions are often the most difficult to answer. Or so it seems when dealing with the government. Small businesses have enough to worry about around tax time without having to struggle to find the... http://www.goinglegal.com/article_36941_75.html 17th March 2006 As tax season draws irresistibly closer, the scam artists are polishing their latest techniques. This article should help you keep an eye out for these nasty individuals. Tax Season � Time for Scams In a particularly cheeky move, scam artists have s... http://www.goinglegal.com/article_34726_75.html 11th March 2006 Copyright � Cheryl Mustian http://www.CherylWorksAtHome.net A big advantage of working from home is the tax benefits of operating a home based business. Working from home allows you to deduct portions of bills that you are already paying to li... http://www.goinglegal.com/article_34602_75.html 11th March 2006 With the every expanding global economy, many people receive earnings from foreign entities. Unfortunately, the federal government wants you to pay taxes on it. Taxes on Your Earnings From Abroad The federal government has a very simple attitude to... http://www.goinglegal.com/article_33584_75.html 06th March 2006 If you worked in a salaried position during 2005, your employer should issue you a W-2 form for your tax reporting. So, what if you haven't received one? What To Do If You Didn't Get a W-2 W-2 Forms, known as Wage and Tax Statements, must be issued... http://www.goinglegal.com/article_33583_75.html 06th March 2006 If you earned revenues as an independent contractor in 2005, you should have received a 1099 Form for the work. So, what if you haven't received one? What To Do If You Didn't Get a Form 1099 If you earned over $600 from one person or company as an ... http://www.goinglegal.com/article_33582_75.html 06th March 2006 Preparing and filing your taxes is a less than exciting task. Much like visiting the dentist it something that must simply be done. There are ways to make it a little less painful. Get a Jump Start on Your Taxes As with many things, procrastinating... http://www.goinglegal.com/article_33580_75.html 06th March 2006 April 15th � "The Day of Reckoning"! Every year, millions of Americans get ready to pay taxes to Uncle Sam, or get ready to collect a tax refund from Uncle Sam; when did this become the great day that it is for taxpayers, and when are we actually require... http://www.goinglegal.com/article_33040_75.html 05th March 2006 It's tax time again and you must be sure to receive all the necessary forms. What is a 1099 tax form and who gets one? A Tax Form 1099 is used to report income other than wages, salaries and tips. Here of late, this term is used more and more frequentl... http://www.goinglegal.com/article_33006_75.html 05th March 2006 Property taxes are decided collectively by school boards, town boards, legislators, and councils. The tax rate is set by collating the amount of funds an area needs. This is then divided that by the "total taxable" assessed value of the area. The tax an i... http://www.goinglegal.com/article_32460_75.html 05th March 2006