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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.

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 by filing an amended return. According to the IRS tax code, you have three years from the filing date for the tax year in question to file an amended return.

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.
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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.

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.

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.

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 system, and the drudgery of daily maintenance.

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 avoid paying a penalty.

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 told me that she only learned of this after her husband passed away.

Keeping Your Own Money - NOT Handing It Over To The Taxman


Most people trying to make a crust online (or offline for that matter) are so focused on doing just that, they ignore taking simple steps to ensure that they hang on to just as much of it as they can. Instead, they hand over large lumps of their hard-earned money in tax, usually in one of two mistaken beliefs.

Tax Reform, My Way


We need real tax reform and we need it now. Previous attempts have been made at tax reform, but they have only provided band-aid solutions that have still left us with too many quirks, complication, and read tape.

Surprising Truths About Tax Preparers


Choosing the right tax preparer for your business is a decision best not left until April. A former tax preparer and small business mastermind offers insights into the secret world of tax preparers.

Navigating The Internet Sales Tax Laws


QUESTION: I have been contacted by my local city government to say that my business is scheduled to be audited to determine if I owe any sales tax from items purchased on the Internet. Can they really make me pay this tax? I thought you could buy things online tax free? -- Katie R.

Home Based Business Tax Deductions


Running a home based business reaps many wonderful tax deductions that other businesses some times may not claim. Unfortunately to many small business owners end up paying the government taxes every year because they are unaware or several small business deductions that are available.

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TAX NEWS


On October 9, 2019, the United States Internal Revenue Service issued two new pieces of guidance for taxpayers who engage in transactions involving virtual currency.

On October 1, 2019, the United States Treasury Department and the Internal Revenue Service announced a relief for certain US persons that own stock in certain foreign corporations.

United States Senator Bernie Sanders (D-VT), a leading contender for the Democratic presidential nomination, has proposed a new tax, as well as a series of enforcement measures, targeting America's wealthiest individuals.

Many US states will begin to impose sales and use tax obligations on remote sellers and marketplace facilitators from October 1, 2019, largely in response to the United States Supreme Court's landmark decision in the Wayfair case.

The Swiss Government on September 20, 2019, announced that it has exchanged instruments of ratification with the United States to bring into force a Protocol to their double tax agreement.

The Irish Government is arguing that favorable tax treatment was not granted to Apple under two rulings deemed by the EU to have constituted illegal state aid to the company.

On September 16, 2019, the United States Internal Revenue Service announced the mailing of a time-limited settlement offer for certain taxpayers under audit who participated in abusive micro-captive insurance transactions.

According to a recent comment by United States Vice President Mike Pence, the Polish Government has decided not to proceed with a national digital services tax.

The Governments of France and the United States are reportedly close to settling a dispute surrounding France's digital services tax.

On August 22, 2019, a notice was published which announces the intention of the United States Treasury Department and the Internal Revenue Service to issue new regulations providing relief to domestic partnerships and S corporations attempting to comply with final global intangible low-taxed income regulations with respect to shareholdings in controlled foreign corporations.

United States President Donald Trump said on August 20, 2019, that the administration is considering additional tax cuts to help maintain economic growth.

On August 19, 2019, the Office of the United States Trade Representative held an off-camera public hearing on France's recently introduced digital services tax, attended by three major technology firms.

On August 16, 2019, the United States Court of Appeals for the Ninth Circuit issued a decision in favor of Amazon, in a case involving the regulatory definition of intangible assets and the method of their valuation in a cost-sharing arrangement.

The OECD on August 13, 2019, released follow-up reports for Belgium, Canada, the Netherlands, Switzerland, the United Kingdom, and the United States on their efforts to implement BEPS recommendations on dispute resolution.

On August 5, 2019, the US Department of Justice announced that Swiss bank LLB Verwaltung (Switzerland) AG has agreed to pay a penalty of USD10.6m to resolve a case in which it was accused of helping US clients to conceal income.

On July 31, 2019, the United States Internal Revenue Service issued a memorandum for all Large Business and International Division employees informing them of the withdrawal of a directive regarding cost sharing arrangements in the light of the recent Court of Appeals ruling in the Altera case.

A group of 21 Republican members of the US Senate have signed a letter to the Treasury Secretary urging him to amend how capital gains tax liability is calculated.

Bulgaria's Council of Ministers earlier this month approved two agreements with the United States allowing for the automatic exchange of country-by-country transfer pricing reports.

On July 19, 2019, the United States Internal Revenue Service updated its webpage on foreign tax credits to clarify that it will not challenge foreign tax credit claims involving certain French taxes.

On July 19, 2019, the United States Internal Revenue Service Large Business and International Division announced six additional compliance campaigns.

G7 finance ministers have said that there is an urgent need to address the tax challenges posed by the digitalization of the economy.

The United States Senate has approved protocols to four existing bilateral double tax avoidance treaties that have been pending in the chamber for as much as a decade.

On July 16, 2019, the United States Internal Revenue Service announced the publication of additional information to help taxpayers meet their filing and payment requirements in respect of the Section 965 transition tax on untaxed foreign earnings.

The United States Senate could soon approve ratification of four long-pending double tax avoidance treaty protocols.

On July 3, 2019, the Seychelles Government announced that it has signed an intergovernmental agreement with the United States to implement the requirements of the US Foreign Account Tax Compliance Act.

On June 25, 2019, the United States Senate Foreign Relations Committee approved amendments to four double tax avoidance agreements which have been pending in the Senate for several years.

The leaders of the United States Committee on Finance have written Treasury Secretary Steven Mnuchin urging him to use "all tools available" to counter France's proposed digital services tax, which they argue unfairly discriminates against US companies.

On June 14, 2019, the US Internal Revenue Service announced that it is looking for new applicants for the Compliance Assurance Process (CAP), a cooperative compliance program aimed at publicly traded corporate taxpayers.

On June 13, 2019, the US Senate approved the Taxpayer First Act, which is intended to overhaul the Internal Revenue Service and strengthen taxpayer rights.

On June 10, 2019, the United States House of Representatives approved legislation which would reform the rules governing the Internal Revenue Service.

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