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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:

This Short Animation Might Make You Think Twice About Taxes Bitcoin NewsA Bitcoin Cash (BCH) supporter recently noted that the biggest hindrance to cryptocurrency adoption is tax laws and reporting taxes on digital currency usage.

These people won't have their taxes ready by April 15 CNBCIf there was ever a year in which you were likely to ask the IRS for more time, this is probably it. Filers have four more weeks to submit their 2018 tax returns and ...

CBDT gives 90 startups immunity from Angel Tax Economic TimesIn what will give relief to 90 startups from taxman's questioning their valuation during fund raising rounds and slapping angel tax, the Central Board of Direct ...

Here's What Happens If You File Taxes Late Or Pay Your Taxes Late HuffPostThere used to be a time when I couldn't wait to file my taxes. As a 20-something with little income and tons of tax deductions available (and probably the wrong ...

Blow for I-T department’s year-end tax recovery drive Economic TimesNew Delhi: The income tax department's plans to arm itself with an SC order to boost year-end recoveries have hit a roadblock. The authorities had approached ...

Taxes From A To Z 2019: G Is For Gross Estate ForbesIt's my annual Taxes from A to Z series! This time, it's Tax Cuts and Jobs Act (TCJA) style. If you're wondering whether you can claim home office expenses or ...

Explainer | What does GST Council's transition plan for new taxes in real estate sector mean Moneycontrol.comWith the government providing options to the developer under the GST regime, they cannot charge increase rates from buyers, say experts.

How to tax the rich, explained Vox.comIt's no accident that the Democratic Party went from wanting a 39.6 percent top tax rate to wanting much more.

Mangaluru: ICICI Bank opens digital tax collection centre for MCC Times of IndiaMANGALURU: ICICI Bank in association with Mangaluru City Corporation (MCC) on Wednesday inaugurated digital tax collection centre to facilitate digita.

Tax queries: Can you claim tax refund on TDS deducted by employer on gratuity? Economic TimesDilip Lakhani Senior Chartered Accountant, answers queries from our readers on income tax and other levies.

Foreign students who stay to work in UK pay £3.2bn in taxes – study The GuardianReport finds highly qualified, non-British graduates do not take jobs from local residents.

Warren dim on raising gas taxes to pay for infrastructure CNNDemocratic presidential candidate Sen. Elizabeth Warren has pitched a wide array of proposals that would make most Republicans shudder, but there is one ...

Tax deductions the self employed can claim CBS NewsFor the self-employed, taxes are a huge deal. The total tax on your last dollar of income as a sole proprietor can be over 50 percent. That's because the top ...

6 fixed income investments to help you save tax under section 80C Economic TimesLong-term debt investments should form a part of every investor's portfolio to maintain stability, especially during economic volatility.

Here are 5 quirky deductions you may not know about that can help lower your taxes CNBCIf you are looking for a way to pay less to the IRS, think outside the box when it comes to deductions.

Owner of Raleigh tax prep firm indicted, arrested for filing false tax returns, federal officials say WRAL.comA Raleigh man has been arrested after he was indicted by a federal grand jury in connection with charges that he conspired to file false tax returns, federal ...

7 red flags that could trigger an IRS audit of your taxes USA TODAYNo one wants a visit from the Internal Revenue *Service*. But if you get too generous with your calculations, you may need to back up your tax return.

Still Waiting On Your Tax Refund? Here's When To Expect Yours ForbesWhen should you expect your tax refund, especially if it's particularly large? It depends on how you file - e-file or paper file, direct deposit or paper check.

How much tax can you save via tax saving investments, expenditures? Economic TimesThe amount of tax you can save via tax-saving investments and expenditures depends on the tax bracket you fall in after claiming all the deductions you are ...

This just might be the worst tax-filing status to claim CNBCWhether your spouse has dubious sources of income or you're in the process of a split, there are a few situations in which it makes sense to file separate tax ...

I-T department, other tax agencies can initiate insolvency: NCLAT Business StandardThe Income Tax department of the central government, the sales tax department of the state government and other local authorities “who are entitled for dues ...

Fox tax ruling to help other MNCs Economic TimesGovt looking to articulate rules to tax MNCs based on volume of transactions and number of consumers in India.

7 Things Artists Should Know before Filing Taxes ArtsyWe spoke to artist-accountant Hannah Cole to learn some basic tips that can help artists navigate tax season.

Report: Philly’s per-capita taxes are No. 5 in the nation, behind NYC and SF Philly.comA report comparing tax revenue and spending in Philadelphia to other large cities found that the city's tax burden is high, but also pointed out reasons behind the ...

Remember The Grasim Demerger? It’s Staring At A Tax Hit Of Over Rs 5,800 Crore BloombergQuintNearly two years after the Aditya Birla Group implemented a restructuring of group companies Nuvo, Grasim and Aditya Birla Capital, the income tax department ...

To tax or not? Govt makes last ditch attempt to save India-US trade package Business StandardLess than a month before the country goes to polls, the government is pushing forward on the proposed India-US trade package to clear pending bilateral issues ...

How High-Tax Countries Tax BloombergThey don't tax wealth much, their income taxes are high but not very progressive, and they rely a lot on consumption taxes.

Govt banking on advance tax collection to meet direct tax target of Rs 12 lakh cr Economic TimesNEW DELHI: With fiscal math under pressure due to lower buoyancy in tax collection, the government is eyeing advance tax payment to meet the revised Budget ...

Nintendo Tortures Animal Crossing Fans With Tweet About Taxes KotakuYesterday, the Nintendo of America Twitter account posted the above image of Animal Crossing's Tom Nook and suggested the money-lending raccoon had ...

Many Americans Are Shocked by Their Tax Returns in 2019. Here’s What You Should Know TIMEAs tax season starts to heat up, people with big plans for their tax refunds may be surprised to find they are receiving less money than in years past. The initial ...

Amazon federal taxes: how the company’s corporate tax bill was $0 Vox.comAmazon's founder is America's richest person, but the company paid no corporate income tax last year. How can that be? For starters, Jeff Bezos is rich because ...

Inequality and Tax Rates: A Global Comparison Council on Foreign RelationsAs the 2020 campaign for the presidency of the United States gets underway, candidates have announced a raft of new tax proposals, including increases in the ...

Small businesses cheer Trump tax reforms, but some feel they didn't go far enough CNBCTax breaks enacted to help small businesses aren't permanent, and that's made it difficult for business owners to make long-term decisions.

Seth Meyers Says Trump Should Pay His Taxes, Not Donate His Salary The New York TimesWelcome to Best of Late Night, a rundown of the previous night's highlights that lets you sleep — and lets us get paid to watch comedy. If you're interested in ...

Tax optimiser: How salaried Kamal can save Rs 40,000 tax via perks, NPS Economic TimesNot only should you ask your employer/company for the NPS benefit, but you should also ask for other tax-free perks like LTA, telephone bill. You can reduce ...

Here's why the average tax refund check is down 16% from last year CNBCThe average tax refund check is still smaller this year compared to last. If you're unhappy with those results, it might be time to revisit your withholding at work.

How Democrats Want to Tax the Rich BloombergDemocrats are leading the 2020 presidential campaign with a slew of tax-the-rich proposals, representing a tone change revealing a party moving to the left.

Angel tax: Some relaxation for startups but riders remain VCCircleThe Indian government on Tuesday sought to relax the provisions of the 'angel tax' that ends up taxing startups for raising angel funding, but the devil in the fine ...

That scholarship may be subject to income tax CNBCIf your child is deciding between two schools based on a financial aid package, be sure to weigh the taxes that may accompany the offer. Families depend on ...

Northam Signs Bill to Lower Taxes on Tampons, Diapers U.S. News & World ReportRICHMOND, Va. (AP) — Virginians will soon be paying fewer taxes on tampons and diapers.

5 unexpected tax breaks you can claim on your tax return Business InsiderThere are several legitimate ways to pay less taxes. Under-the-radar tax breaks include deductions for jury duty and bringing your pet to work.

Startups Caught In Angel Tax Net Also Getting Relief BloombergQuintStartups that received angel tax notices are also getting relief after the government last month tweaked rules amid fears that the levy could deter early-stage ...

"We definitely didn't *all* forget to pay our DC taxes those years!" PoPville“Dear PoPville,. This weekend I received a bizarre notice from DC OTR saying that they have no record of my 2015 tax filings — and that I need to reply within 30 ...

Why Americans Don’t Cheat on Their Taxes The AtlanticThe weirdly hopeful story of how the U.S. came to be a leader in tax compliance.

Most people want higher taxes on rich to support poor – OECD The Guardian'Deeply troubling' survey of 21 countries finds 60% believe they are not getting 'fair share'

Income Tax-Saving Fixed Deposit: Interest Rates, Maturity Period And Other Key Details NDTV NewsMany banks today offer income tax benefits under a special type of fixed deposit (FD) or term deposit account. This income tax benefit can be availed by the ...

4 important tax benefits of buying a house jointly Economic TimesBy Homi Mistry Buying a house is a dream for millions of people in India. The government has provided various tax benefits to individuals to encourage them to ...

How to save income tax via medical expenditures under sections 80D, 80DD, 80DDB, 80U Economic TimesIf you can't afford to pay for health insurance premium or unable to buy one due to pre-existing conditions, then also you can save tax via medical expenditures.

Lorraine Kelly wins £1.2m tax case against HMRC over ITV work BBC NewsLorraine Kelly has won a row over a £1.2m tax bill, after a judge ruled she was not employed by ITV, but performs as her "chatty" TV persona. Kelly, 59, who ...

Don't wait to file for an extension on your tax return CNBCCongressional Democrats have been talking about providing an extension to the April 15 deadline for filing your tax return. The rules under the new Tax Cuts ...

Amazon Doesn’t Plan to Pay the IRS Anything This Tax Season BloombergAmazon.com Inc. does not plan to pay the IRS anything this tax season. Yet that's not largely because of President Donald Trump's tax overhaul.

Are Tax Credits Better Than Tax Deductions? The Motley FoolAs a taxpayer, it helps to do everything you can to lower your ultimate IRS burden. And part of that means capitalizing on key deductions and credits that save ...

Long-shot presidential candidate Andrew Yang wants to tax Amazon sales and give that money to Americans CNBCYang, who announced his candidacy in late 2017, is proposing a 10 percent VAT on big companies like Amazon and Google. But he said he doesn't believe ...

"Link Aadhaar With PAN To Enjoy Seamless Income Tax Services Online": Taxman To Assessees NDTV NewsThe Income Tax Department has once again urged income tax assessees to link their PAN or Permanent Account Number with Aadhaar. Stating that it is ...

Tax queries: Annuity received on a periodic basis is taxable as an income under the head ‘Salaries’ Economic TimesDilip Lakhani Senior Chartered Accountant, answers queries from our readers on income tax and other levies.

Berkeley considers Trump tax bill provision to bolster affordable housing Daily CalifornianThe city of Berkeley is exploring the prospect of creating an opportunity fund — an investment vehicle created under President Donald Trump's 2017 tax bill — to ...

Powerball's jackpot surges to $550 million. Here's what the winner would pay in taxes CNBCRight off the bat, the IRS would shave tens of millions of dollars off the windfall, and more would be due at tax time. And depending where you live, state taxes ...

Illegal immigration taxes: Unauthorized immigrants pay state taxes Vox.comUndocumented workers paid about $11 billion in state and local taxes, according to a 2017 report by the Institute of Taxation and Economic Policy.

Gas-Tax Hike: A Rare Big Idea With Bipartisan Backing The Wall Street JournalThe U.S. Chamber of Commerce advocates raising the federal tax on a gallon of gas to help fix the country's crumbling transportation network, a initiative that ...

Audit: $2.6M in gambling taxes uncollected in Guam Guam Pacific Daily NewsGovGuam failed to collect $2.6 million in\u00a0uncollected\u00a0limited gaming taxes from 2014 to 2017.

Taxes and penalties may await wealthy parents in college admissions scam CNBCWealthy parents ensnared in a massive college admissions scheme may have another worry on the horizon: the IRS. Two famous actresses and a group of ...

Copper, aluminium prices higher after Chinas tax cut for manufacturers Business StandardRead more about Copper, aluminium prices higher after China's tax cut for manufacturers on Business Standard. The tax cut will save tax burden for enterprises ...

Copper, aluminium edge higher on China tax cut BusinessLineCopper and aluminium prices ticked up on Tuesday, supported by China's announcement to cut tax for manufacturers from next month to boost growth in the ...

Tax refunds went up for these consumers Detroit Free PressThe tax refund story is mixed. Some are seeing bigger refunds, while homeowners in high tax states report paying taxes, instead of getting refunds.

Taxes 2019: How long should I keep my tax returns? USA TODAYWhen it comes to tax returns, the rule of thumb is to store those suckers for seven years in case the Internal Revenue *Service* or state government has some ...

Billionaire investor Ron Baron: It's OK for me to pay 50% in taxes — but I could always move to Florida if I didn't want to CNBCBillionaire Ron Baron says capitalism works for people if "they are educated and are able to take advantage of the system."

Amazon paid no federal tax for 2018 – but how much profit did it earn? The GuardianThough Amazon's Queens headquarters were ultimately scuppered it turns out the company is already receiving benefits from the government.

Canada Wants to Tax Your Cannabis Based on THC Content LeaflyEdibles, extracts, and topicals will be taxed according to their THC *content* under the 2019 budget. The Feds will also uphold excise taxes on medical cannabis.

Will Abolish Angel Tax After Cong Comes to Power: Rahul’s Promise The QuintCongress President Rahul Gandhi on Monday, 18 March, said that angel tax goes counter to the philosophy of startups and his party would get rid of it on ...

Americans want the wealthy and corporations to pay more taxes, but are elected officials listening? Brookings InstitutionEconomic inequality is on the rise in the United States and has been for the past 40 years. Prominent Democrats have offered several proposals to curb ...

Five new ways to save on your taxes in the Federal Budget Financial PostWhile today's 2019 federal budget contained no tax rate cuts, the government did provide a variety of tax goodies and incentives. Your ability to take advantage ...

If you think your spouse has hidden money secrets, tax returns will show red flags CNBCIf you think your spouse is hiding something from you, don't just take a look at phone records and browsing history. Crack open that income tax return and dig ...

Powerball $550M lottery jackpot: Here’s the tax damage Fox BusinessMany Americans are hoping they will be the lucky recipient of the $550 million Powerball prize – though the actual amount a winner Opens a New Window.

3 tax-deductible investment expenses you should take AOLAs investors file their tax returns, they're discovering they can take fewer deductions related to investment expenses.

Arkansas Senate Approves Tobacco Tax Increases For Tax Cuts KFSM 5NewsonlineLITTLE ROCK, Ark. (AP) — The Arkansas Senate narrowly approved a $100 million plan Wednesday to raise taxes on tobacco and e-cigarettes to pay for a ...

NFL Panthers Rookie Owner Already Gets the Tax Game BloombergQuint(Bloomberg Opinion) -- Say this for David Tepper: He's a fast learner. The founder and managing partner of Appaloosa Management LP, Tepper is something of ...

Is paying your taxes with a credit card a good idea? CNBCIn general, paying taxes with a regular credit card, without rewards, is not a great idea given record-high credit card interest rates. Here's what you need to know.

Disabled can claim tax saving deductions up to Rs 1.25 lakh under sections 80DD, 80U Economic TimesThe Income Tax Act allows deductions from your gross total income, before the levy of tax, if medical expenditure has been incurred on the treatment of a ...

Resolve angel tax issues fast, CBDT tells its officers Economic TimesMUMBAI: The Central Board of Direct Taxes (CBDT) has asked its officers across India to avoid taking “coercive measures” against companies that have ...

View: A case for a minimum alternative tax on revenues, not on profits Economic TimesThe right alternative is to tax revenues, not profits. A tax on revenue will apply even to loss-making companies.

127 startups apply for angel tax exemption, wait with bated breath for Income Tax department decision The Financial ExpressOut of 127 startups that had applied for angel tax exemption through Form-2, 92 startups have received an acknowledgment email from the CBDT that their forms ...

Americans' Long-Standing Interest in Taxing the Rich GallupCandidates' proposals to increase taxes on the wealthy are not new, but do generally resonate with American public opinion.

How to find Income Tax Assessing Officer or AO details? Economic TimesAssessing Officer is authorized to assess the income tax return you have filed and if he finds any discrepancy in your filed return, he will send you a notice ...

No respite from Angel Tax despite DPIIT notification Economic TimesStartups complain that little work has been done on the ground to bring them relief from the so-called 'Angel Tax demon.

Tax the Rich? Here’s How to Do It (Sensibly) The New York TimesEveryone, it seems, has ideas about new tax strategies, some more realistic than others. The list of tax revolutionaries is long. The short list includes ...

Rahul Gandhi promises to remove ‘Gabbar Singh Tax’ after Congress comes to power Economic TimesWhile addressing public meeting in Itanagar Congress president Rahul Gandhi said, “Prime Minister Narendra Modi in his speech said we will bring one nation ...

Pre and post-Budget 2019: How tax benefit changes for individuals with 2 home loans Economic TimesThe interim Budget 2019 has proposed to treat the second house owned by an individual as self-occupied and thereby removed the necessity of paying tax on ...

FACT CHECK: Does This Meme Demonstrate Racial Bias in Tax-Evasion Prosecutions? Snopes.comOne of the more unusual political memes we've come across presented four different cases of tax-related financial improprieties to suggest that tax-evasion ...

Half-measures: new angel tax rules for start-ups The HinduIt is good the 'angel tax' has been moderated, but its arbitrary nature remains intact.

ET Wealth Wisdom: Tax-saving 101 for young earners Economic TimesIn this week's ET Wealth Wisdom podcast, Shambhavi Mehrotra and Tania Kishore Jaleel try to simplify tax saving for young earners.

Federal budget 2019: Liberals raise stock option taxes on high-paid executives The Globe and MailThe federal government dusted off an old campaign promise Tuesday by pledging in the budget to increase taxation on the stock option gains of some of ...

I-T verification starts, 11 lakh tax notices on the way DNA IndiaThe Income Tax Department's newly set-up Centralised Verification Centre (CenVC) is planning to send the first set of e-tax notices to 'non-filers', starting this ...

Lawmakers Support ‘Pied-à-Terre’ Tax on Multimillion-Dollar Second Homes The New York TimesGov. Andrew Cuomo said the tax on homes in New York City could allow the state to raise $9 billion in bonds to help fix the subway.

Pay your pending advance tax by 15 March LivemintYou need to pay the fourth and last instalment of advance tax for financial year (FY) 2018-19 by 15 March, if you want avoid paying an interest on the amount ...

What is pink tax and are you paying it ? LivemintPink tax refers to the invisible cost that women have to pay for products designed and marketed specifically to them.One way to beat pink tax is to not fall for ...

Even SALT-Pinched Minnesotans Flocking to ‘Last Great Tax Haven’ BloombergIt's not only residents of high-cost coastal states that are plowing into municipal bonds as a haven from the new deduction limits. It's happening in Minnesota, too.

Get up to 8.55% rate, EEE tax benefit with these 3 risk-free tax saving options Times NowAs of now, there are a couple of tax saving investment options which are best suited for risk-averse investors and offer interest rates of up to 8.55 per cent.

Democrats Want to Tax the Wealthy. Many Voters Agree. The New York TimesA proposal to tax wealth finds support across party lines, along with the premise that the government should combat inequality.

Do your taxes for cheap! H&R Block Tax Software Deluxe is on sale for just $18 PCWorldThe tax deadline is still a few months away, but this deal for H&R Block Tax Software Deluxe can't be missed.

How to avoid last-minute tax planning mistakes Economic TimesTaxpayers often commit mistakes in a rush to save tax. Here's how to avoid investing errors you might regret later.

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