For this post, Brandon Rains, founder of the Rains Laws Firm and an expert on business formation, espouses his observations about business structure changes and I address the income tax reporting requirements of those changes therein.
The “unfiled FBAR” continues to be a problem for certain Homeland Americans with “offshore accounts” and all Americans abroad, who continue to “commit personal finance abroad”.
Introducing Mr. and Mrs. Kentara
In September, 2016, we discussed that the European Commission’s probe into Apple, which resulted in an order for the tech giant to pay up to €13 billion ($14.5 billion) in back taxes to Ireland, was prompted by a U.S. Senate investigation, European Union Competition Commissioner Margrethe Vestager said on Friday.
TaxConnections is committed to bringing you the best information about improving your tax business. Over the years, we have hosted many opportunities to our members to build the connections and gain the knowledge they need to succeed.
TaxConnections is partnering with two professionals in the field of networking in order to offer free webinars to help you grow your business.
It’s true that this tax season some taxpayers have been unaware of a new rule that requires the IRS to hold tax refunds for taxpayers who claim the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit. As a result, the IRS has acknowledged that there are now a number of “misunderstandings and speculation about refunds.”
The Canada Revenue Agency (CRA) has issued me a business number. Now what do I do?
In Canada, once a company is assigned a business number then it needs to request which type of program account it needs to be setup. There are five types of accounts:
This month we travel across the country to Virginia. One of the original 13 colonies, Virginia possesses a lot of living history with the Jamestown Settlement and Colonial Williamsburg being notable historic landmarks.
The Shenandoah National Park lies in the eastern part of the state deep in the Blue Ridge Mountains. Mostly forested, the park features wetlands, waterfalls and rocky peaks, like Hawksbill, and Old Rag mountains. It is also home to many bird species, deer, squirrels and the elusive black bear.
We’re happy to spotlight the amazing work MileIQ users do every day. This week, we’re excited to speak with Lisa Jeffries, founder of Raleighwood Media. See why there’s no typical day for this go-getter and how automatic mileage tracking comes in handy for her and her events-planning company.
The American Institute of Certified Public Accountants (hereinafter “AICPA”) has requested the Department of the Treasury and the Internal Revenue Service (hereinafter the “Service”) to issue some form of immediate administrative authority governing the enhanced R&D Tax Credit Program (hereinafter “RTCP”) in connection to qualifying Small Businesses and qualifying Start-Up Companies to accurately calculate the R&D Tax Credit from a quantitative perspective effective for tax years beginning on or after January 1, 2016.
TaxConnections training webinar on Thursday, February 9th 2017 at 1:00PM PDT /2:00PM MST/3:00PM CT/4:00PM EST. With Kat Jennings, TaxConnections CEO as your host you will learn the following:
- How Do You Acquire New Clients Through TaxConnections?
- What Is A Virtual Tax Office? Why A Virtual Tax Office Is Your Future.
- How To Secure The Best Real Estate For Your Virtual Office Today
Real Examples Of New Business Acquired By TaxConnections Members With Virtual Offices… Read More
There is lots of talk about federal tax reform. We are likely to see some legislative language from the House in spring, according to Speaker of the House Paul Ryan (see Jeremy Quittner, “Paul Ryan Says Tax Reform Won’t Happen Any Time Soon,” Fortune, 2/2/17).
Over the past few weeks, I’ve had numerous clients ask me about how they might be impacted by the border adjustment tax. In fact, so many have expressed concern that they’re already seeking advice on how to avoid being impacted, even though nothing has been enacted into law. For those of you whom are unfamiliar with the subject, the border adjustment tax is currently a proposal, not law. The idea is derived from the House Republican’s Ways and Means Committee tax reform blueprint, “A Better Way”.[i]