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Tagged With: Garnishment, IRS Garnishment, IRS Levy, IRS Wage Garnishment, Wage Garnishment, Wage Garnishment Law
Garnishment law has been in force to improvise the mode of collection of payment for the money due towards the federal government or any other creditor. Garnishment law also states wage garnishment according to which the money is deducted directly from the persons salary after assessing the monthly expenses vis-à-vis monthly income.
Garnishment law can be levied by any agency and is not limited to the IRS. Any private creditor, federal government department, or even an e…
Tagged With: Partnerships, tax advantages, taxation laws
There are several advantages to establishing a limited liability company and many of these compensations revolve around the tax advantages. A limited liability company if often sought as a third alternative to forming a corporation or a partnership. Many corporations are formed because they offer attractive limits on the personal liability that the business may suffer due to debts or liabilities. Partnerships dont offer the same kind of protection, but do provide better tax …
Tagged With: Accounts, inland revenue, irs, revenue, tax, tax attorney, tax return, tax solicitor
Do you dread seeing those brown envelopes with the IRS or Inland Renenue address on them? Do you put them on one side until you have summoned the courage to read their latest demand for money? Does the thought of filing your tax return stress you out unbearably?
Tax laws in most countries are exceedingly complex and open to interpretation by the courts. Every taxpayer wants to legally reduce the taxes he or she pays to the minimum. Even in these days of more easily underst…
Tagged With: dead, death, deceased, estate tax, final return, irs, tax, tax refund, tax return, taxes
Two things in life are certain death and taxes. Heres what to do if the two are combined as far as filing a tax return.
Tagged With: Internet sales taxation, small business
Q: I was contacted by the city tax collector to say that my business is scheduled to be audited to see if I owe sales tax on items purchased on the Internet. Can they really make me pay sales tax on internet purchase? I thought you could buy things online tax free? — Charlie B.
A: Sorry, but your local municipality is well within its rights to audit your business to identify items purchased online. The city can also demand payment of sales tax on those items if sales tax …
Tagged With: financial planning, income taxes, saving on taxes, tax planning
Are you paying too much in income taxes? Are you getting all the credits and deductions you are entitled to? Here are 7 tips to help you minimize taxes and keep more in your pocket:
Tagged With: 1031, exchange, Property, Real Estate, services, tax
A tax deferred exchange represents a simple, strategic method for selling one qualifying property and the subsequent acquisition of another qualifying property within a specific time frame.
Although the logistics of selling one property and buying another are virtually identical to any standard sale and purchase scenario, an exchange is different because the entire transaction is memorialized as an exchange and not a sale. And it is this distinction between exchanging and …
Tagged With: bad debts, debt, debts, deduct, deduction, deductions, irs, tax, taxes, write off
Practically every small business has receivables that it cannot obtain from clients. For those small businesses that suffer from uncollected receivables, solace can be taken from the fact you can claim a tax deduction.
In an effort to help promote alternative energy and energy conservation, the federal government is offering some tax credits to people who buy certain products like insulated windows, energy-efficient heat pumps and hybrid cars.
In August of 2005 the federal government passed the Energy Policy Act, and the resulting tax credits went into effect January 1 of 2006. Not only are energy-efficient products rewarded, but certain building techniques and materials are too.
So y…
Tagged With: Business, corporation, incorporating, incorporation, llc
The tax advantages of incorporating a business is one of the main reasons that owners choose to incorporate their businesses, no matter what market they work in. Other types of businesses, such as sole proprietorships, are not afforded nearly as many tax advantages as an incorporation.
A move called income shifting is one that helps the business, and its owners, immensely. This is a method in which the total income of your corporation is divided among its members. How doe…
Tagged With: Andorra, Grand Prix, holidays, hotels, map, Monaco, Monte Carlo, Nice airport, Property, re, weather
While Monaco is a well known European tax haven, Andorra has remained little known outside of the financial community – despite enjoying the same tax advantages and arguably more private banking than her better known rival.
In contrast to the similar financial benefits both Monaco and Andorra residents enjoy, the two small countries have quite different climates.
Monaco has good all year round weather and is located next to the French Riveria, while Andorra is in the P…
Tagged With: turbo tax
Earning an income is just a mean of solving your financial problems. Once you steady your fiscal situation, you find the filing of your income tax return a rather stressful procedure. It refers as well to 1040ez form as to 1040 or 1040a forms. The main reason for the stress in filling in these tax return forms is the numerous exemptions and deductions that have to be taken into consideration.