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Need an Offshore Sales Office in a Tax Free Environment?

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,... Read More

Small Businesses Filing Amended Federal Tax Returns to Recover Money

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... Read More

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

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.... Read More

Alas! In E-Commerce Taxland

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... Read More

Rearrange Your Affairs For Maximum Tax Savings

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... Read More

Organizing Your Taxes

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... Read More

Seven Key Tax Deductions for the Self Employed

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... Read More

How To Set Up A Tax-Saving Bookkeeping System

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... Read More

Knock-Knock-Knock

Knock-Knock-KnockWho's there?The IRS!The next quarterly payment of estimated income tax for the self-employed is not far off. Network marketers who receive a form 1099 at the end of the year, and/or who are expected to owe $1,000 or more in taxes, must file a form 1040-ES Payment Voucher quarterly to... Read More

How to Reduce the Estate Tax Using the A-B Revocable Living Trust

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... Read More

In The News:

Maldives decides not to press GMR for taxes over airport compensation Business StandardIn a breather to the GMR Group, the Maldivian government has decided not to press for income tax and fines of over $20 million from the infra major on the ...

Focus on direct tax reforms as panel set to submit report Moneycontrol.comThe next thing that the people of India, who gave Narendra Modi his second full majority term, would be looking towards is reduced tax rates in the full budget.

Jaitley gives 2-month extension to CBDT task force on direct tax code; panel to now submit report by July 31 Business TodayIn a meeting held with top finance ministry officials, Arun Jaitley on Friday gave the Central Board of Direct Taxes (CBDT) task force an extension of two months ...

Task force on direct tax laws gets two more months to submit report Business StandardThe deadline for the direct tax code task force to submit its report has been extended by two months to July 31, according to a government official. This decision ...

Average tax payer will need to work over 300 years to match an MPs assets Business StandardThe wealth gap between Lok Sabha MPs and their constituents may have just widened. The average assets of a Lok Sabha MP is now 345.8 times that of the ...

UK tax system is more progressive than thought, says IFS Financial TimesBritain's tax system is progressive and takes significantly more money from the rich than the poor, the Institute for Fiscal Studies, a respected think-tank, said on ...

Tax optimiser: NPS, perks can help salaried Kumar save Rs 66,000 in tax Economic TimesYou should always ask your employer for the NPS benefit and also invest in the scheme on your own. This way you can reduce your tax outgo significantly.

Botched your tax withholding in 2018? It's about to get more complicated CNBCFine-tuning your tax withholding is about to get a little more complicated. The Internal Revenue *Service* is expected to release a draft of its new Form W-4, the ...

CBDT eyes 20% jump in tax kitty BusinessLineSets target of ₹13.80 lakh crore for current fiscal year.

Chainsaws, Pixy Stix and other unnecessary items that are tax exempt, while tampons aren't CBS NewsHere are some of the most egregious examples of products states exempt from sales tax, while neglecting to do the same for menstrual hygiene products.

Govt may reintroduce tax on cash transactions, inherited property Moneycontrol.comThe government might also introduce an estate tax on inherited property.

Going reasonable: Finance Ministry revises tax collection target for FY20 Business StandardA day after election results are out, the Ministry of Finance has moderated the tax collection target for smaller cities, while increasing it for bigger centres like ...

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 ...

Trump tax returns legal battle: IRS lawyers agree with Democrats Vox.comAccording to Josh Dawsey and Jeff Stein of the Washington Post, an internal IRS legal memo agrees with most outside observers that the Treasury Department ...

India notifies pact with US to check tax evasion by MNCs Economic TimesThis information will enable an enhanced level of assessment of tax risk .

Corporate America paying its lowest share of taxes since Eisenhower CBS NewsFederal income tax revenue from U.S. corporations hasn't been this low since 1960, IRS data show.

Havenly as ever Switzerland will remain a low-tax centre for big firms The EconomistSWITZERLAND IS KNOWN for its delicious chocolate, its luxury watches—and its lightly taxed multinationals. Some 24000 international companies are ...

Curbing black money: Now, get ready to pay tax on cash transactions at bank Business StandardThe Narendra Modi government in its second term will put in place measures to further curb black money generation. According to sources, policymakers have ...

South Africa's Carbon Tax Set To Go Into Effect Next Week NPRA carbon tax in South Africa will go into effect on June 1. President Cyril Ramaphosa signed the measure into law on Sunday, making South Africa one of about ...

CBDT rejects report on decline in income tax e-filing, says 18% spike instead Business TodayThe Central Board of Direct Taxes (CBDT) has refuted media reports about the reduction in numbers of Income Tax Returns (ITR) e-filers, saying that figures for ...

PMO has no records of income tax refunds of former PMs Deccan HeraldThe Prime Minister's Office has no records of income tax refunds of former prime ministers, according to an RTI reply.

Memorial Day: Spouses of fallen service members lobby to eliminate "widow's tax" CBS NewsA 1972 law blocks some 65000 military widows nationwide from receiving full benefits from both the Pentagon and the Department of Veterans Affairs.

View: Modi has failed to end India's tax terror Economic TimesOverseas investors would like PM Modi to fulfill his 2014 pledge to make the tax system less capricious.

How Loopholes Help Trump and Other Real Estate Moguls Avoid Taxes The New York TimesDonald Trump reported more than $1 billion in real estate losses on his tax returns from 1985 to 1994, The New York Times revealed this week. Those losses ...

Low-Income College Students Are Being Taxed Like Trust-Fund Babies The New York TimesWASHINGTON — A little-noticed provision in President Trump's sprawling new tax law is treating middle- and low-income college students as if they are ...

Hike farmer income support, raise peak tax threshold: Ficci Business StandardRead more about Hike farmer income support, raise peak tax threshold: Ficci on Business Standard. The recent slowdown in the economy stem not only from ...

Albany Closes a Loophole for Trump Pardons. Next Up: His Taxes. The New York TimesThe Legislature is poised to pass a bill that would allow three congressional committees to seek the release of President Trump's state tax returns.

Mayor Pete’s 49.9999% Tax Bracket The New York TimesThis article is part of David Leonhardt's newsletter. You can sign up here to receive it each weekday. “Being left of Obama doesn't make you extremely ...

Tax break under 54EC only for property sale LivemintMy long-term profit on unlisted shares after indexation is ₹8 lakh for the financial year 2018-19. Can I invest in 54EC bonds to save tax? —Sanjay Pahuja.

Where does California’s cannabis tax money go? You might be surprised. The Mercury NewsDrug abuse prevention, public safety, protecting the environment, economic development — these were some of the visionary promises that legalized cannabis ...

Elections 2019: Industry roots for Angel Tax abolition, AI-enabled solutions Economic TimesThe startup industry is hopeful that the new government will create a thriving ecosystem to make them flourish. Buoyed by earlier positive initiatives such as the ...

Trump Accidentally Raised Taxes on the Children of Dead Veterans New York MagazineAn ill-considered provision in Donald Trump's signature law hiked taxes on the survivor's benefits of Gold Star families, and low-income students' college ...

The property tax reform package is heading to Gov. Greg Abbott's desk The Texas TribuneThe bill aims to slow rising property tax revenues and make it easier for Texans to understand how their tax bills are determined. The House and Senate both ...

3 Ways to Pay Less Tax on Your Investments Motley FoolInvesting is a great way to grow your wealth. But the money you earn on investments isn't always yours to keep. Just as the IRS is entitled to a portion of the ...

Are any of the Coalition's claims of new Labor taxes actually true? The GuardianGuardian Australia asks two experts if eight ALP election policies can really be considered a 'new tax'

Two tax hikes for schools could end up on California’s 2020 ballot Los Angeles TimesThough it's never a sure bet that California voters will sign off on a tax increase, the odds improve when the money is promised to schools. Less clear, though, is ...

Viewpoint | The quick and simple tax filing guide for NRIs - FY19 MoneycontrolLovaii Navlakhi. Tax filing season is here and everyone is getting ready with their documents and financial details for the same. However, there is one question ...

Victorian Budget 2019 hits foreign investors, car buyers and public service as stamp duty slumps ABC NewsForeign property investors, luxury car buyers and public servants will bear the brunt of a steep decline in stamp duty revenue, as the Andrews Government ...

Maine cities and towns may get the chance to collect local sales taxes Press HeraldAUGUSTA — Maine cities and towns would have a chance to add a 1 percent sales tax to meals and lodgings sold within their borders if a bill approved ...

Soda stream 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 ...

TurboTax Uses A “Military Discount” to Trick Troops Into Paying to File Their Taxes ProPublicaIntuit, the maker of TurboTax, created and promoted a “military discount” that charges *service* members who are eligible to file for free.

Trump+Taxes+Deutsche Bank+Mnuchin+Barr = Cover-Up BloombergFor a White House that's as dedicated to “transparency” as this one, there sure are a lot of things being kept under wraps.

Special Public Prosecutors Vacancy (Income Tax, Chennai) Live LawIncome Tax Office, Chennai invites applications from advocates of substantial standing and repute and with good academic credentials for the empanelment of ...

Soda Taxes Are a 'No-Brainer' for Public Health, Says the Author of a New Study on Them TIMEA new JAMA study suggests taxing sugary drinks really can make people buy fewer of them, potentially translating to better public health. Taxes on soda and ...

Trump feels squeeze in tax return fight | TheHill The HillPresident Trump is being squeezed in the fight over his tax returns.

Profitable Giants Like Amazon Pay $0 in Corporate Taxes. Some Voters Are Sick of It. The Indian ExpressIn Ohio, where companies like FirstEnergy and Goodyear pay no federal corporate taxes, Democrats haven't figured out how to leverage anxiety over income ...

The secret of why Donald Trump won't release his taxes CNNOn Monday night, as expected, Treasury Secretary Steve Mnuchin informed House Ways and Means Committee Chairman Richard Neal, D-Massachusetts, that ...

Direct tax panel gets more time for report Times of IndiaIndia Business News: NEW DELHI: Finance minister Arun Jaitley on Friday extended by two months the tenure of the task force set up to draft the new direct ...

Income tax e-filers drop by over 6.6 lakh in FY19: Official data Economic TimesIncome tax e-filings have dropped in FY2019 contrary to believes that the tax base will increase post DeMo.

Land reforms, tax reduction: How Modi govt plans to spur economic growth Business StandardIn its second term, the Narendra Modi government wants to embark on new reforms and complete the unfinished business of its first term at a difficult time when ...

5 Takeaways From 10 Years of Trump Tax Figures The New York TimesThe Times obtained details from a decade of the president's tax returns, revealing $1.17 billion in business losses. Here's what else the numbers show.

Four commonly-held misconceptions about ELSS or tax saving mutual funds Economic TimesEquity Linked Saving Scheme or ELSS may be the stepping stone to the stock market for many individual investors. However, many of them nurse a lot of ...

California's governor pushes new taxes, fees despite whopping $21.5 billion surplus CNBCLOS ANGELES — Gov. Gavin Newsom is pushing new taxes and fees even as California enjoys a huge surplus, but lawmakers, including his fellow Democrats, ...

How Vanguard Patented a Way to Avoid Taxes on Mutual Funds BloombergControversial heartbeat trades help the funds avoid taxable gains.

Employers will now have to download full Form16 from TRACES portal only Economic TimesEarlier, employers were mandatorily required to download only Part-A of Form-16 from the TRACES portal and Part -B was issued using third-party software.

GOP tax law included surprise tax hike for college students Inside Higher EdTax-cut law rushed to passage in 2017 included increase in taxes on students with college scholarships. Lawmakers say they plan to introduce fix this week.

IRS could be forced to release Trump’s taxes in the heat of 2020 POLITICOThe administration is betting that it can drag out the coming case beyond next year's elections. That could prove a bad strategy.

Car industry slams Victoria's proposed tax on vehicles over $100,000 - UPDATE CarAdviceThe car industry has slammed a proposal by the Victorian Government to slug vehicles priced over $100000 with an additional tax – on top of the 10 per cent ...

Modi 2.0: Jobs, agriculture, tax reforms await push Deccan HeraldPrime Minister Narendra Modi stunned the nation when he introduced some striking economic reforms soon after taking over in 2014. Jan Dhan Yojana ...

More GST to come from the party of lower taxes Sydney Morning HeraldLess than a week after the election we hear the Tax Office will recommend to the government that it introduce the GST to some food items (''Morrison rejects tax ...

Mnuchin refuses to turn over Trump taxes to House Democrats CNNTreasury Secretary Steven Mnuchin on Monday denied a request from House Democrats for access to six years of President Donald Trump's personal tax ...

Income tax implications of PF withdrawal LivemintThere should not be any gap in contribution to PF to avail of the continuous *service* clause.In the event of PF withdrawal before five years of continuous *service*, ...

President Trump proposes import tax on gaming consoles due to China trade war Windows CentralCurrently, there's a trade war going on between China and the United States. Both countries keep on raising tariffs on imported goods, which means that the cost ...

Budget corporate tax cuts depend on LS outcome: Sources Economic TimesThe government had assured industry of fulfilling its earlier promise of lowering the corporate tax rate in the full budget in July if it is voted back to power.

Trump’s Tariffs Are a New Tax on Americans The New York TimesPresident Trump's new tariffs on Chinese imports, which took effect at 12:01 a.m. on Friday, are taxes that will be paid by Americans. That is a simple fact, and it ...

Council candidate: Vancouver's taxes punish business The ColumbianA former Vancouver city council candidate, who in his wildcard 2015 and 2017 campaigns stood out for his candor and strong opinions on fluoride, is running ...

Heres how the new Form 16 will change income tax return filing this year Business StandardForm 16 is issued annually, by an employer to an employee as a proof of salary paid and taxes deducted on it. It has two parts i.e., Part A and Part B as ...

Netflix tax: Chicago successfully taxes streaming services CBS NewsFour years ago, Chicago imposed a 9% tax on streaming entertainment services, leading to a flurry of lawsuits. Now, the city has collected $2 million in sales tax ...

Mexico tax plan for Uber creates friction among ride hailing firms ReutersMEXICO CITY (Reuters) - Mexico on Monday detailed plans to withhold tax from drivers for ride-hailing and food delivery firms such as Uber Technologies Inc ...

What is tax liability if I surrender my insurance policy before maturity? Economic TimesIf you surrender the policy and opt out of the annuity scheme, the entire sum received by you from the insurance company will be treated as income.

In Wake Of Federal Tax Reform, Blue States Scramble To Hide High Taxes The FederalistDemocrats insist richer people need to pay more taxes. When that becomes slightly more true because of a Republican initiative, they hide income.

Tax you pay on equity investments LivemintFor unlisted equity shares and units of debt-oriented mutual fund, the holding period should be 24 months and 36 months or more.Long-term capital gains ...

Why the Rich Don’t Get Audited The New York TimesThe I.R.S. doesn't have the resources it needs to chase offshore accounts and tax cheats.

Slowing direct tax collections may push govt to reset its budget math for FY20 LivemintNEW DELHI: Slowing tax collections may prompt India to cut its FY20 direct taxes target from the ₹13.8 trillion estimated in the interim budget, necessitating a ...

TRIBUNE: Legislature agrees on school finance, property taxes, more Brazosport FactsTexas House, Senate agree on school finance, property taxes, Hurricane Harvey recovery. The Texas Legislature on Sunday advanced a $250.7 billion ...

Tax optimiser: Salaried Shanker can save more tax if employer contributes to his NPS Economic TimesNot only should you ask your employer for the NPS benefit, but you should also invest in the scheme on your own. You can reduce your tax outgo significantly.

First 100 days of Modi 2.0 could see tax cut, GST rejig, bank reform Economic TimesNEW DELHI: With the major event risk of election out of the way, analysts on Dalal Street have started speculating on what measures the government may unveil ...

Decoding income tax exemptions LivemintEET stands for exempt-exempt-taxable where an investor can receive two exemptions on investments.The last exempt implies that lump sum amount received at ...

Looking to save tax? Here are 7 ways to take charge of your investments The News MinuteWe are in a new financial year and it's the time to file taxes. Along with it, it is now the perfect time to plan your finances and tax-saving options. So, if you are ...

Blue-state House members try to reclaim higher SALT deductions that were cut in Trump's tax overhaul CNBCSome House members want to lift the cap on state and local tax deductions, but it could be tough, in part because the move is expected to benefit high earners.

Ontario Liberal MPs eye 'soda tax' idea for October election campaign CBC NewsA "sugar sweetened beverages levy" or what is more commonly known as a soda tax, is included in a list of Ontario caucus priorities obtained by CBC News.

How is long-term capital gains tax on sale of property calculated Economic TimesThe CII of 2019-20 has yet not been announced. To arrive at the capital gain, you will have to reduce the indexed cost of acquisition from the selling price.

Hotels, realtors move Delhi HC over Input Tax Credit issue Economic TimesA writ petition was filed in the Delhi High Court on Monday, challenging a change in the GST framework this year, whereby input tax credits were denied.

Israeli Court Rules Bitcoin Is Not a Currency in Court Case Over Taxes on BTC Gains CointelegraphThe ruling is a setback for crypto entrepreneur Noam Copel, who will now have to pay tax on $830000 in profits he made by selling bitcoin.

Directorate General of GST Intelligence issues notices to auto ancillaries over tax evasion ETAuto.comMumbai:The Directorate General of GST Intelligence (DGGSTI), intelligence arm of the indirect tax department, has issued notices to multiple ancillary ...

Single authority for sanctioning, processing GST refunds likely by August LivemintNew Delhi: A single authority for sanctioning and processing GST refunds is in the offing as the Finance Ministry looks to speed up and simplify the process for ...

Samsung's Founding Family Faces a $7 Billion Estate Tax BloombergThe lives of the rich and famous are news fodder everywhere. But in South Korea it's an expected death that has the country enthralled. The country's wealthiest ...

US Income Tax Payers Can Now Get Refunds in Bitcoin CoinDeskIncome tax payers in the U.S. now have the option to receive their federal and state refunds in bitcoin. Blockchain payments processor Bitpay announced the ...

They Got Rich Off Uber and Lyft. Then They Moved to Low-Tax States. The New York TimesMeet the semiretired millennials who left California for low-tax, low-stress places like Texas, as their former start-ups stampede toward the stock market.

I-T dept set to bring changes in tax audit report for charitable trusts Business StandardThe income tax department is set to bring changes in the tax audit report for charitable trusts to check misuse of funds, including foreign donations. This will be ...

Bill on increased taxes on alcohol, cigarettes gets support Manila BulletinHouse of Representatives Speaker Gloria Macapagal Arroyo has assured Senate President Vicente C. Sotto that her legislative chamber would support ...

Manpasand Beverages MD, CFO arrested in Rs 40 crore GST tax invasion and invoice fraud case Business TodayThe Goods and Services Tax (GST) department officers have arrested the top executives of Vadodara-based Manpasand Beverages for creating fake company ...

Tumakuru City Corporation officials visit citizens’ homes to collect taxes Times of IndiaBENGALURU: At a time when city corporations across the state are struggling to step up tax collections, a young IAS officer, T Bhoobalan, is changing the rules ...

Rethinking Wealth, From Birthright Capital to Big Spender Taxes BloombergBloomberg Businessweek's special Money Issue is a survey of how global wealth is distributed, spent, fought over, and invested. But the borderlines of wealth ...

Dividends from equities are tax-free for investors Economic TimesDilip Lakhani Senior Chartered Accountant, answers queries from our readers on income tax and other levies.

San Jose: New city survey shows voters hesitant on new tax for homelessness San José SpotlightAfter saying “yes” to hundreds of millions of dollars in general obligation bonds in recent years, new polling shows San Jose voters aren't so keen on supporting ...

ITAT ruling on ‘stock in trade’ may lead to spate of litigations Economic TimesA recent ruling allows higher deductions if the stock held by the taxpayer was 'stock in trade.

Tax optimiser: How salaried Karthik can save Rs 1 lakh tax via perks, NPS Economic TimesNot only should you ask your employer for the NPS benefit, but you should also invest in the scheme on your own for up to Rs 50000. You can reduce your tax ...

Angara sponsors bill seeking to increase tobacco taxes RapplerThe Senate ways and means committee report proposes a starting tax rate of P45 per cigarette pack in 2020, followed by a series of annual P5 increases until ...

No, corporate tax avoidance is not legal Financial TimesNicholas Shaxson is the author of Treasure Islands, a book about tax havens, and The Finance Curse, a book about countries with oversized financial sectors.

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