10 Tax Tips to Reduce Costs and Increase Income

No one likes paying tax. Everyone understands that tax is a necessary evil and that without it our government would not be able to afford our roads, health services, education, welfare system etc. However you are not obliged to pay more tax than that for which you are legally liable.

Here are some tips to keep your tax down:

  • Reduce all stock to levels and cut costs.
    Never carry excess stock because that is money that is sitting on the shelves and not in your bank.
  • Clear out stock that is slow.
    Clear stocks and turn them into cash. If necessary reduce your prices and turn stock into cash rather than have it sitting on the shelves or in the warehouse. Best to cut your losses and use the cash to buy in stock that does sell.
  • Reduce rental costs.
    Cut your rental cost by letting out or letting go space that are excess to your requirements. Talk to your landlord about what you can do. It may be that you can obtain approval to rent out areas that you don't need.
  • Pay your bills on time but not before the due date.
    Do not pay your bills too early because having the money sitting in your bank will reduce your bank fees and interest costs. Make use of any early payment discounts offered and, where necessary, if the funds are short talk to your suppliers and see if they would allow you extra time to pay.
  • Make sure you are making a profit on your sales.
    The correct profit margin you put on to your products is critical and will determine whether you will be profitable or not.
  • Use your credit card.
    Credit cards often have an interest-free period so make use of it. Advantage can be taken of this fact by using your card to pay some expenses and then paying the credit card on the due date. The result is that you effectively obtain an interest-free period through the use of this facility.
  • Dump and no longer stock products that are not profitable.
    Check your product range and discontinue all slow moving stock that is not generating profit. It is far wiser turning poor products into ready cash and using that cash for those products which provide a profit contribution.
  • Look after your customers.
    No customers mean no business. Your customers are critical to your success, so look after them. Satisfied customers will keep coming back to buy. Unhappy ones will never be seen again. When they stop coming back, sales will be lost and your business will suffer.
  • Reduce credit to customers.
    Don't sell on credit unless you have to. Provide credit to customers who are regulars and who support the business all the time. Give credit to those who pay their bills on time. Late payers should be dropped as the costs of servicing them will drain your profits.
  • Keep all papers.
    Remember papers are "worth more than money". Keep a record of all claims you make and all receipts to justify those claims. It is very important for you to write/record in your working papers the basis or reasoning or viewpoint relating to every claim you make. If your basis is sound but wrong then you will have a better chance to resist any claim for tax avoidance or evasion directed at you. If you have no basis at all and no thought given to how you arrived at the claim made, and your claim is rejected, you could be up for the "high jump" and be charged with the intention to evade tax.

  • Copyright 2005 StartRunGrow
    http://www.startrungrow.com

    StartRunGrow (http://www.startrungrow.com) is a global online information organization that specializes in creating, developing and marketing business help information specifically with the aim of "making business easier" for entrepreneurs around the world. The StartRunGrow objective is to become a dominant player in the business help arena providing end to end solutions for the millions of small and medium businesses worldwide who continue to struggle daily with the difficulties of starting, running and growing a successful business.

    In The News:

    Opinion | Time for a global tax net for the internet  LivemintEven if an international consensus is hard to obtain on the taxation of digital services that make money off large user bases in countries like India, we should not ...
    Filing out a tax return for the first time? Here are seven important tips  Business StandardThere are many who find income tax calculation and filing to be a tough task. However, reading and learning about it can turn out to be a skill useful for a lifetime.
    GST Council meet on 21 June to focus on checking tax evasion  LivemintNEW DELHI: Goods and Services Tax Council, the federal indirect tax body, is set to take several decisions to curb tax evasion in its first meeting to be chaired ...
    Is receiving money from friend through e-wallet taxable?  Economic TimesThrough e-wallets and UPI, it has become easy to send and receive money through your phone. Often, debts to friends may be settled in this manner.
    How to file a loved one’s taxes after they’ve passed away  MarketWatchWhen a financially comfortable loved one departs, a bevy of tax issues can come into play.
    What You Need to Know About Capital-Gains Taxes (but Probably Don’t)  The Wall Street JournalBy tax-law standards, the rules on capital-gains taxes may appear fairly straightforward, especially for taxpayers who qualify for a zero-percent rate. But many ...
    Budget 2019: Govt may ask 'loss-making' companies to pay tax  India TodayThe finance ministry is likely to propose a minimum amount of tax on loss-making companies in the upcoming budget or just after that. However, genuine ...
    Does Amazon Really Pay No Taxes? Here’s the Complicated Answer  The Wall Street JournalDemocratic presidential candidates have seized on reports that Amazon.com Inc. paid no 2018 federal taxes as they press for changes in the tax system.
    Budget 2019 | Direct tax reforms – It’s a case of now or never!  Moneycontrol.comNaveen Aggarwal. Nineteen years into the 21st century and we are still following a tax law that is half a century old. A law that is now largely considered ...
    US tax authorities admit to 'wrongly collecting millions of dollars' from Americans in France  The Local FranceThe struggle of American citizens living in France to protect themselves from inflated tax bills from the US has taken a positive turn, with US tax authorities ...
    G20 agrees to push ahead with digital tax  Economic TimesG20 nations have agreed to push ahead on compiling common rules to lock tax havens' door for tech giants.
    Tax-free bonds could be reintroduced in Budget  LivemintHighway sector has been one of the best performing areas of the government.Infra majors can hope Budget to approve *fresh* issue of tax free bonds to raise ...
    Cut taxes to boost investments, growth, CII’s Kirloskar tells govt  LivemintThe Confederation of Indian Industries (CII) has called upon the government to lower a broad range of taxes to encourage equity investments by both individuals ...
    Filing Income Tax Returns? Avoid These Six Common Mistakes  News18From the intimidating number of forms available, to claiming deductions, in the last-minute rush to file income tax returns, make sure to keep in mind some details ...
    GST Council may tighten rules to curb tax evasion  Hindustan TimesGoods and Services Tax (GST) Council, the federal indirect tax body, is set to take several steps to curb tax evasion in its first meeting to be chaired by new ...
    India Incs advance tax mop-up surges 171% in Q1, Mumbai collection up 133%  Business StandardIndia Inc's advance tax figures grew exponentially by 171 per cent during the first quarter of 2019-20, prompting the tax authorities to say that the economy may ...
    House Democrat says current Congress may not see Trump taxes  ReutersA senior Democrat on a congressional panel seeking President Donald Trump's tax returns warned on Saturday that the current Congress may not see the ...
    Kerala Assembly Adopts Uniform Tax Rate on Lotteries Against Centre's Move  News18Thiruvananthapuram: The Kerala Assembly Monday adopted a resolution against the Centre's proposal to impose a uniform tax rate on lotteries instead of the ...
    G20 to move ahead with plans for digital tax on world’s tech giants  The VergeThe G20 is pushing ahead with plans to close international tax loopholes used by tech giants. In a draft communique obtained by Reuters, the group said that it ...
    Budget 2019: Follow these simple steps to reduce your taxable income under new rules  India TodayNot even a month is left for the announcement of full Budget 2019 and the government is all set to make effective new income tax laws that will benefit millions of ...
    New GST return forms to help authorities check tax evasion  LivemintNEW DELHI: Return forms proposed for the goods and services tax (GST) are set to put an end to one of the widely used methods for tax evasion—claiming ...
    Biden Criticized Amazon for Not Paying Taxes. Here's His Record on Tax Reform  InsideSources2020 presidential candidate Joe Biden slammed Amazon for not paying any federal income taxes last year — mimicking comments from Bernie Sanders and.
    Goods and services tax, a game changer? Not for home decor firms at least  LivemintAfter the goods and services tax (GST) was introduced in 2017, home decor companies were in the spotlight because plywood, laminate and ceramic tile ...
    Pay first instalment of advance tax now  LivemintThe deadline to deposit the first out of total four instalments of advance tax for FY 2019-20 is on 15 June.Remember that you are just required to pay the advance ...
    Government plans fresh set of tax sops for startups in budget  Times of IndiaIndia Business News: The department for promotion of industry and internal trade (DPIIT) and the revenue department have discussed a package of tax sops in ...
    Imran Khan follows PM Modi's footsteps, asks countrymen to pay taxes  India TodayPakistan Prime Minister Imran Khan urged the countrymen to pay taxes and reminded them to take benefit of the 'last' Asset Declaration Scheme launched by ...
    GST collection at ₹1 lakh cr in May below target, tax rate cut unlikely soon  LivemintGross collection at ₹1,00289 crore in May is lower than ₹1,13865 crore in April.A total of 72.45 lakh GSTR-3B returns were filed in May, higher than 72.13 lakh ...
    With his tax plans, Boris Johnson is gambling on the public's ignorance about the true nature of wealth  ProspectNot only do most voters have little idea of what an "average" wage is in reality, they also find it difficult to see the link between taxation and their local public ...
    `Tax on digital service contradicts policy’  The Daily StarBangladesh Mobile Phone Consumers Association today said the government is trying to expedite the digitalisation of the country but they are imposing ...
    DOJ releases legal opinion supporting Treasury refusal to turn over Trump tax returns  CNNThe Justice Department released Friday a new legal opinion supporting the Treasury secretary's refusal to hand over President Donald Trump's tax returns.
    Uber says IRS probing its 2013-14 tax returns  LivemintThe U.S. Internal Revenue *Service* is auditing Uber Technologies Inc's taxes for 2013 and 2014 and the ride-hailing company expects unrecognized tax benefits ...
    Yes, Taxing the Rich Is Possible  The New York TimesThis article is part of David Leonhardt's newsletter. You can sign up here to receive it each weekday. For a long time, there was a predictable response to any ...
    Tax optimiser: Salaried Chaddha can save over Rs 71,000 in tax via NPS, perks  Economic TimesET Wealth tells readers how they can optimise their tax by rejigging their income and investments, like in this salaried taxpayer's case.
    Erdoğan says Turkish exporters will be exempt from currency taxes  AhvalTurkish President Recep Tayyip Erdoğan said the country's exporters will be exempt from taxes on purchases of foreign currency.
    Brazil authorities put freeze on Neymar mansions amid tax dispute  MoneycontrolParis Saint-Germain striker Neymar's off-pitch woes continue to mount, as Brazilian tax authorities put a freeze on dozens of his mansions and other properties ...
    Madhya Pradesh govt to raise Rs 20,000 crore revenue without new tax  MoneycontrolThe Madhya Pradesh government is hopeful to raise around Rs 20,000 crore in revenue without imposing any new tax on public in the next budget, Finance ...
    How Silicon Valley Avoids Paying Taxes Using Small Biz Break  BloombergSilicon Valley has won big with a tax break aimed at small businesses.
    How to make full use of section 80D to save tax on health insurance?  Economic TimesHealth insurance is a necessity that can also help you save taxes. Generally, you can save tax on health insurance premium for a maximum of Rs 1 lakh in case ...
    Lower Tax, Interest Rate, Healthcare: 10 Things India Wants Its New Fin Min to Address in Budget 2019  News18People, who commented on the online forum seeking suggestions for the budget, have wished that minimum exemption for income tax purposes be raised to Rs ...
    How to tax sugary drinks  The EconomistSUGAR TAXES are on a high. Around 40 countries and seven American cities have started to tax sugary drinks, mostly in the past few years. Supporters say ...
    IOC, HPCL to contest over ₹4,000-crore tax demand  LivemintNew Delhi: Oil refiners Indian Oil Corp (IOC) and Hindustan Petroleum Corp Ltd (HPCL) on Thursday said they will contest tax authorities demand for over ...
    I-T summons Naresh Goyal in tax evasion case  Economic TimesThe case is related to alleged irregularities in dealings between Jet and Dubai-based cos.
    Low jet fuel taxes, expansion of airports seen boosting aviation sector  LivemintMUMBAI: India's aviation sector, one of the fastest growing in the world, will need a push from the new government to achieve its potential. Former diplomat ...
    How tax efficiency varies across states  LivemintStudy shows that some states are more efficient in generating tax revenues than others.
    Opinion | Using the Singapore nudge in Indian tax law  LivemintMany years ago, on a vacation in Singapore, I was surprised to see the number of babies all over town. It looked like a baby boom in the city state. Cute, chubby ...
    Tax saving tips: Invest in real estate and save tax on LTCG  Business StandardInvestments in real estate are borne out of savings made out several years of earnings. These investments have both monetary value and emotional value for ...
    New direct tax code draft by July-end  LivemintFinance minister Arun Jaitley extends deadline till 31 July for a task force to come up with a new draft direct tax code.The proposed new direct tax code will ...
    ESRI warns that carbon taxes 'often regressive in nature'  TheJournal.ieTHE ECONOMIC AND Social Research Institute (ESRI) has said the impact of introducing a carbon tax will strongly depend on the policy the government ...
    How much tax do you pay on your equity investments?  LivemintGiven that different equity assets attract different tax rules, an investor must take a careful look at the suitability of an investment in terms of taxes too.Here's a ...
    Budget 2019: From income tax slab changes to 80C limit extension, 5 key things to expect from the upcoming Union Budget  The Financial ExpressFM Nirmala Sitharaman is expected to announce a number of big-ticket decisions in the Union Budget 2019 considering the thumping majority her party secured ...
    Sitharaman should give tax benefits to common man, remove MAT in Budget: Experts  Economic TimesFinance Minister Nirmala Sitharaman should consider increasing the income tax exemption limit to at least Rs 3 lakh and abolish minimum alternate tax (MAT) ...
    Viewpoint | Here's why you should file your income tax returns in time  Moneycontrol.comDivya Baweja, Divya Agarwal and Pooja Verma. Filing of income tax returns (ITR) is around the corner and authorities have already released the necessary ...
    Where does Colorado's marijuana tax money go? The state made a flow chart to answer the $1 billion question  The Colorado SunColorado officials announced Wednesday that marijuana tax revenue has now surpassed $1 billion since recreational sales began in 2014.
    Budget 2019: Slashing tax rates is a good way to boost collections; here’s why  The Financial ExpressUnion budget 2019 India: Hiking surcharges on higher income brackets tempting, but won't help as much as cutting rates to get more into tax net.
    Cap personal income tax rate at 25 pc to boost demand: PHDCCI  Economic TimesNEW DELHI: The maximum personal income tax rate in the country should move towards 25 per cent to increase disposable income, thereby boosting demand ...
    Industry seeks tax cuts, bold land, labour reforms from NDA  LivemintIndustry executives on Monday sought tax cuts, lower interest rates and bold reforms in land acquisition and labour laws in a blueprint prepared to aid the Modi ...
    Tax structure a reason for Jet Airways fall: Ajay Singh, SpiceJet chairman  Economic TimesSpiceJet chairman Ajay Singh has replaced Jet Airways' Naresh Goyal on the board of governors at IATA — an achievement, considering his carrier joined the ...
    Here’s how to comply with new rules on keeping digital tax records  The SunTENS of thousands of British businesses could find themselves in trouble with the taxman by failing to follow new rules on keeping digital records. More than one ...
    Coalition's tax plan would benefit men almost twice as much as women, analysis finds  The GuardianThe Coalition's plan to flatten tax brackets for middle to high income earners will provide twice as much benefit to men than women, a new analysis has found.
    Digital economy taxation: OECD’s roadmap and implications for India  Economic TimesBy Ajay Rotti In today's world, with technology seeping into virtually every section of the economy, the 'digital economy' is becoming intertwined with the ...
    Withdrawing Rs 10 lakh a year may attract 3-5% tax: Finance Ministry  India TodayWithdrawing a cumulative Rs 10 lakh a year can attract 3-5 per cent tax if a proposal going around in the Finance Ministry takes shape in the Budget to track high ...
    New York Can Tell Congress Lots About Trump’s Taxes  The New York TimesHis state returns will give the House a glimpse of past I.R.S. audits, before and after he entered the Oval Office.
    G20 countries agree to close tax loopholes for tech companies  EngadgetTech giants are already finding themselves on the hook for more taxes in parts of Europe, but there could now be a much more coordinated effort to have them ...
    Most millionaires support a tax on wealth above $50 million, CNBC survey says  CNBCA majority of millionaires support Sen. Elizabeth Warren's proposed tax on large wealth, according to the CNBC Millionaire survey.
    'No decisions made' as to how Ireland will quadruple its carbon tax by 2030  TheJournal.ieTO MEET IRELAND'S emissions target, the government will quadruple the carbon tax from €20 to €80 per tonne by 2030. The measure has been well-flagged, ...
    No taxes owed by GMR from $270-million arbitration award: Maldives  LivemintThe Maldivian government in 2017 had slapped a notice seeking $20.5 million.The arbitration ruling indemnified the Indian developer from any tax liabilities.
    Bring down corporate tax to 18 pc sans exemptions: CII  Economic TimesCII wants the govt to bring down the corp tax rate to 18 per cent along with elimination of all exemptions.
    How to quadruple the number of tax payers in India  Business StandardIndia's tax to GDP ratio is around 12 per cent currently. It used to be around 10 per cent till recently. Most people think even this 12 per cent is too low and that it ...
    ITR filing: Don't make these mistakes to avoid getting tax notice  Economic TimesFind out what you should do to avoid getting a notice for small errors on income tax returns.
    A Former Business Partner Alleges the Trumps Evaded Taxes in Panama  The New York TimesThe owners of a luxury hotel in Panama City that ousted the Trump Organization as property managers last year accused it on Monday of evading taxes in ...
    California considers adopting part of Trump's tax law  CBS NewsThe state is looking to expand the state's earned income tax credit.
    IT industry, startups meet Anurag Thakur to discuss data protection, tax issues  YourStoryAhead of the Budget, representatives of tech sector and industry bodies like Nasscom, IAMAI, and MAIT met Minister of State for Finance Anurag Thakur on ...
    Big businesses paying even less than expected under GOP tax law  POLITICOFederal tax payments by big businesses are falling much faster than anticipated in the wake of Republicans' tax cuts, providing ammunition to Democrats who ...
    G20 nations set to endorse new tax framework to ensure fair play  Economic TimesNEW DELHI: India and other G20 members are set to endorse a new tax framework that could force multinational companies to abandon aggressive tax ...
    Got a tax notice? Here’s what you should do  Economic TimesMistakes while filing ITR can fetch you a tax notice. Here's how you can respond to such tax notices.
    How to report tax-exempt incomes in ITR-1  Economic TimesThis year in ITR-1, tax-exempt incomes have to be reported in the tab, 'Computation of income and tax'.
    CM Arvind Kejriwal raises statehood demand, hike in tax share at NITI meet  Times of IndiaChief minister Arvind Kejriwal raised the pitch for full statehood for Delhi and an increase in the share of central taxes at the fifth governing coun.
    Budget 2019: Tax officials likely to seek up to Rs 1.5 lakh crore reduction in collection target  India TodayOfficials from the tax department are likely to ask the finance ministry for a reduction in the tax collection target up to 6 per cent, translating to Rs 1.5 lakh crore, ...
    Karnataka Wants Goods and Services Tax Compensation Extended Beyond 2022  NDTV NewsKarnataka on Saturday sought extension of the Compensation Act beyond 2022 to bridge the revenue gap likely to arise out of a shortfall in the collection of the ...
    Boris Johnson’s proposed income tax cut for those earning over £50,000 is a stinker for the average Brit  The SunBORIS Johnson's first big policy announcement is a stinker. We're all for tax cuts . . . Tories should be tax cutters, above all. But what possessed Boris to think his ...
    What to Expect When the IRS Alters Its Bitcoin Tax Policy  CoinDeskThe Takeaway. Coming guidance from the IRS will address longstanding questions about the tax treatment of cryptocurrency. The tax collector has identified ...
    Rich New Yorkers are fleeing to Miami to escape high taxes. I spent 3 days there, and it was immediately clear  Business Insider IndiaKatie Warren/Business InsiderI recently spent three days in Miami touring exclusive private islands and oceanfront mansions.Wealthy New Yorkers are fleeing.
    Bring down corporate tax, simplify taxation, revive infra investment: Industry to FM  Economic TimesCII President suggested that a simplified taxation regime is pivotal for improving the revenue flows and help government stick to fiscal prudence without ...
    NY state passes bill allowing Congress to request Trump's tax returns  CNNDemocrats in New York state passed a pair of bills Wednesday that would allow Congress to get hold of President Donald Trump's state tax returns amid an ...
    Budget 2019: Will the new direct tax law find a mention in the FM’s speech?  The Financial ExpressBudget 2019-20: The original Direct Taxes Code (DTC) had proposed personal tax rates and income slabs which would lead to higher disposable income for ...
    Budget 2019: Godrej, Nestle united against corporate tax; say reduction needed for big cos  The Financial ExpressUnion Budget 2019 India: As FMCG industry has borne the brunt of the ongoing rural distress, Suresh Narayanan said that he hopes the budget addresses ...
    Capital Gain on Shares? Wait Few More Days Before Filing Income Tax Returns  MoneylifeWith the Income Tax (I-T) department changing the method for calculation of capital gains tax, taxpayer are being advised not to file returns in a hurry and wait for ...
    Revised tax treaties usher in a new era in investment, taxation  LivemintNEW DELHI: For about a decade-and-a-half, revenue authorities examining foreign investment proposals received by the erstwhile Foreign Investment ...
    How to get tax e-refund  Economic TimesIt is important for the assessee to first link the PAN to the bank account to be able to prevalidate the bank account.
    Extend tax sops to retail investors in corporate bonds: Market players to FM  LivemintNew Delhi: Market players on Thursday urged Finance Minister Nirmala Sitharaman to extend tax incentives to retail investors in corporate bonds, and also ...
    SCOTUS Won't Review Three Tax Cases With Session Nearing Close  Bloomberg TaxThe Supreme Court won't review three tax cases involving deductions, omitted taxes, and excessive fines, it said June 17.
    Estate tax amnesty scheme starts today  INQUIRER.netThe Bureau of Internal Revenue (BIR) today starts accepting applications for the much-awaited reprieve for heirs who have yet to pay the taxes due from their ...
    Tax break to land reforms: 10 things wished from Sitharamans first budget  Business StandardEverybody wants everything. The challenge for finance minister Nirmala Sitharaman's first budget is to give everybody something. Here is a look at some ...
    U.S. Business Contributes Smallest Share of Taxes in Generation  BloombergU.S. corporations are contributing the smallest share of federal tax revenue in a generation. That's one of the findings in the Data Book for 2018, released by the ...
    India’s DTAA with Canada doesn’t offer tax relief on gains from sale of property  LivemintI bought a flat in December 2017 for ₹1.2 crore in New Delhi. However, I got a job offer in 2018 and moved to Canada as a permanent resident. I have some ...
    Tax settlement body orders Indiabulls Real Estate to pay Rs 300 cr on undisclosed income  MoneycontrolThe Income Tax Settlement Commission, in an order on April 30, has asked Indiabulls Real Estate to pay Rs 300 crore, as tax and interest charges, ...
    UK industry calls for delay of IR35 off-payroll tax rules to private sector  The RegisterIndustry bodies are urging the British government to delay its plans to extend much-hated anti-avoidance tax law IR35 to the private sector, according to an ...
    KCMO voters to tackle tax incentives in Question 1 on Tuesday's ballot  KSHBQuestion 1 asks voters in Kansas City, Missouri, to set a cap on how much of an exemption the city can give developers on their property taxes at 50 percent.
    PF tax-exempt on completion of five years of continuous service  LivemintAs per Fourth Schedule of the Income-tax Act, the accumulated PF balance due and payable to an employee is exempt from tax, if the employee has rendered ...

    How Home-Based Businesses Can Avoid Giving Uncle Sam More than His Share

    How Home-Based Businesses Can Avoid Giving Uncle Sam... Read More

    What is a Federal Tax Lien?

    A Federal Tax Lien (FTL) is a legal instrument that... Read More

    Tax Deduction for Alimony Payments? - Yes!

    Over 50% of marriages end in divorce in the United... Read More

    How to Maximize Your Home Business Tax Deductions for 2005

    Someone once said, 'the best way to calculate your taxes... Read More

    Take Control of Your Taxes

    As everyone in the U.S. knows, we have just passed... Read More

    What You Need To Know About Taxes If You?re Getting Married

    It may not be high on the list of wedding... Read More

    Small Businesses: Company Car Vs. Personal Mileage Reimbursement In Hurricane Katrinas Wake

    With gas prices at an all time high before Hurricane... Read More

    Access to E-records by Taxing Authorities: A Case for Pakistan (Part I)

    Background issues of access to recordsTo assess the records at... Read More

    Tax Records - What You Should Keep And For How Long

    Many taxpayers are confused about how long they should keep... Read More

    Requirements To Produce Tax Information (Whats Up With That?)

    "What we've got here is a failure to communicate." ... Read More

    Rearrange Your Affairs For Maximum Tax Savings

    One way to maximize your business profits is by reducing... Read More

    Amending Procedural Laws for Collection of E-taxation

    The electronic transaction ordinance defines the certificated copies in which... Read More

    Reducing Taxes Through Dividend-Salary Mix Calculations

    Should I take wages or dividends from my privately owned... Read More

    IRS Lock-In Letters ? What?s An Employer To Do?

    Employers often ask employees to designate the amount of tax... Read More

    Tax Time Tune Up

    Excerpted from the new book, "How to Do Space Age... Read More

    To Tax or Not to Tax - This is the Question

    To tax or not to tax - this question could... Read More

    IRS Certifies 2006 Toyota Hybrid for Clean Fuel Deduction

    The Internal Revenue Service has certified the 2006 Toyota Highlander... Read More

    Organizing Your Taxes

    Does this scene sound familiar? It's April 7. You haven't... Read More

    IRS Obtains More Than 100 Injunctions Against Tax Scheme Promoters

    The IRS has obtained civil injunctions against more than 100... Read More

    I Havent Filed a Tax Return with IRS in Years, What Do I Do?

    In elementary school, kids come up with creative excuses why... Read More

    10 Thoughts on Tax Offer in Compromise

    Beware of advertisements that claim to settle tax debts for... Read More

    How To Get An Instant Pay Raise

    As a gentleman was leaving my class recently, he wanted... Read More

    How to Cut Duty Cost and Increase Profit as an Importer

    Import duties continue to be significant elements in the cost... Read More

    Failure To Pay Employment Taxes ? Penalties

    As an employer, you must pay employment taxes if you... Read More

    Business Tax Deductions

    As we enter mid-March, taxpayers begin to become very interested... Read More