In a past article I relayed the plight of the widow who stated:
“I didn’t realize what an A-B Revocable Living Trust meant and that it had to be divided between the survivor and the deceased spouse and that I am limited as to what I can use from his share.”
She told me that she only [...]
Knock-Knock-Knock
Who’s there?
The IRS!
The next quarterly payment of estimated income tax forthe self-employed is not far off. Network marketers whoreceive a form 1099 at the end of the year, and/or whoare expected to owe $1,000 or more in taxes, must filea form 1040-ES Payment Voucher quarterly to avoidpaying a penalty.
When it comes to paying income tax, [...]
One of the most important, but least understood or appreciated aspects of any business is its bookkeeping or accounting system. And, because very few people know much about the reasons for a bookkeeping system, most people are frightened by the thought of the work involved in setting up such a system, and the drudgery of [...]
As a sole proprietor, it’s wise to familiarize yourself with the some key deductions that may reduce your tax bill for 2004.
Small-business consultants generally recommend that you hire an accountant to prepare your tax returns, payroll and financial statements. But you should also meet with your accountant well before the year-end rush to discuss such [...]
Does this scene sound familiar? It’s April 7. You haven’t seen the top of your dining room table in two weeks because of the piles of paid bills, receipts, canceled checks, and unidentified cash register receipts covering it. Your head pounds and your stomach churns as the countdown to April 15 begins.
You might hate to [...]
One way to maximize your business profits is by reducing your taxes.Frequently, income and other taxes could be lowered significantly if only the taxpayer were willing to plan ahead. By taking some simple steps to rearrange your affairs, you could save a fortune!
1. Are You Splitting Your Business Income?
You may pay reasonable salaries to spouse [...]
In trying to comply with tax laws for your e-business, you may find yourself falling down the rabbit-hole,going through the looking glass, and attending a Mad Tea-Party.
Common sense, logic, and fairness never did apply fully to the field of taxation but this is especially true of e-commerce transactions.
1. Canada Customs Welcomes You to Canada!
Since I`m [...]
How Home-Based Businesses Can Avoid Giving Uncle Sam More than His Share
By Darren Oliver
With the rush to file your taxes by April 15th, you probably did not consider the possibility that you overpaid. According to the General Accounting Office, in 1998 alone, there was $311 million paid unnecessarily to the IRS. Do not count on [...]
Small Businesses Filing Amended Federal Tax Returns to Recover Money
By Darren Oliver
April 15th may be gone but, but certainly not forgotten - especially if you, like millions of small businesses, unknowingly overpaid your federal taxes and can recover money by filing an amended return.
According to the IRS tax code, you have three years from the [...]
The 100 year old investment-banking firm of Warburg, Dillon Read (on Park Ave. N.Y.) (now UBS Warburg) has offices in 39 foreign countries - including the Bahamas, the tiny Cayman Islands, Hong Kong and the Channel Islands. Makes you wonder why, doesn’t it?
Non-resident foreign companies, trusts, banks and individuals can trade stocks, bonds, commodity contracts [...]