02nd July 2009
Sukumar Mukhopadhyay Member Cbec (Retd.)
1. A very recent judgment of the Delhi High Court holding that renting of immovable property is not a service has created interest among taxpayers, analysts and economists. Both conceptually and legally, ...
30th June 2009
Working and living in an income tax free country is something a lot of people imagine could only be a dream - it would need an efficient government with politicians who didn't see every business and every citizen as a taxable opportunity.
Even in the 1...
27th June 2009
Wisteria Formations has launched a series of useful videos on YouTube to help guide people through the process of incorporating their first company.
The new site, http://www.wisteriaformations.co.uk offers a simple and straight forward
27th June 2009
The Patch
Each year for the past several years Congress has “fixed” the AMT problem by enacting a temporary “patch.” With the signing of the stimulus bill this past February, 24 million taxpayers who otherwise would have been in the AMT in 200...
23rd June 2009
The Alternative Minimum Tax is a parallel tax system that is an integral part of our Federal income tax system. It expands the amount of income that is taxed by adding items that otherwise are tax-free under the regular tax, and by disallowing many deduct...
23rd June 2009
The Alternative Minimum Tax is an integral part of our Federal income tax system. It is a separate, but parallel, system to what we refer to as the "regular" income tax. The AMT expands the amount of income that is taxed by including items that otherwise...
22nd June 2009
Sublet offers an elegant alternative for people in need of a temporary residence in Los Angeles. Subletting spares you from the hassle of confining to rental contracts and fees. Furthermore, subletting is a very common practice in LA hence it is easy to f...
18th June 2009
Retirees usually are the most surprised of all taxpayers when they find themselves in the Alternative Minimum Tax. Unfortunately, there is no “age exemption” – if you have the right blend of income and tax deductions, it hits you just as hard as it ...
18th June 2009
The features of automated phone systems for businesses are very useful and helpful in day to day business transactions. Not only are they useful, they are also easy to operate. This essential piece of technology allows for user-friendly operation, ease of...
18th June 2009
The degree of control that small business owners and the self-employed have over the timing is much greater than that of employees, and also depends on the structure of their businesses. For example, if a person is small business owner, and thus self-empl...
18th June 2009
In general, employees have little control over the base salary received from employment - Other than, of course, the hope that it goes up each year due to your outstanding job Performance. If an individual is in a bonus program, the timing of receipt of a...
18th 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...
18th June 2009
The IRS recently put on its web site a summary of changes made to the Alternative Minimum Tax for 2008 and for 2009. While the 2008 information isn’t of much interest to those who already have filed their 2008 tax returns, it certainly is worth noting t...
18th June 2009
Shortly after April 15 President Barack Obama and Vice President Joe Biden released their 2008 income tax returns. What these tax returns showed is that the President is not paying the Alternative Minimum Tax, but that the Vice President is still stuck in...
18th 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...
