TaxConnections


 

Tax Professionals- A Free Gift For You And Tax Clients

Each year when you give your clients their bill it is also a good idea to give them a free gift – one of those gifts that will keep them thinking about you all year long. Without question, the best free gift you can give to your clients this year is the 20% coupon discount from MileIQ Business Miles Traveled App.

Every Tax Professional who registers through the link below will be give a free MILEIQ Business Miles App. You will also be able to give your clients that special 20% discount link along with the comfort of knowing your client is protected on an audit with this amazing App. Tax Professionals receive a FREE PREMIUM ACCOUNT exclusively through TaxConnections so take this opportunity while you have it at your fingertips. It is an amazing gift for you and your clients, too!

CLICK HERE TO RECEIVE FREE BUSINESS MILES APP

Onboard Your New Clients In Minutes With Practice Ignition

A Virtual Tax Office – Tax Professionals Get A Tour Now!

TaxConnections Complimentary Webinar For Tax Professionals-Thursday, April 13th 2017 at 1:00PM EST /3:00PM CT /4:00PM EST

  1. A Virtual Tax Office Tour To Reduce Your Overhead
  2. Tax Experts- Ask Tax Question (High Traffic Platform)
  3. Tax Lawyers- How To Outperform The Competition

Due to the high number of visitors searching for tax experts through our new mobile platform, you are invited to view this exciting client acquisition feature during our complimentary webinar on Virtual Tax Offices today Thursday, April 13th 2017 at 1:00PM EST/3:00PM CT/4:PM EST. Read More

Last Minute Tips For Filing Tax Returns

Are you one of the millions of Americans who hasn’t filed (or even started) your taxes yet? With the April 18 tax filing deadline quickly approaching, here is some last minute tax advice for you.

1. Stop Procrastinating. Resist the temptation to put off your taxes until the very last minute. It takes time to prepare accurate returns and additional information may be needed from you to complete your tax return.

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How Long Does The IRS Have To Audit A Tax Return?

A federal audit is, not surprisingly, an unwelcome event for most taxpayers. An audit is stressful and may result in a taxpayer owing additional money to the Internal Revenue Service (IRS). One question that many taxpayers have concerning federal audits is how long the IRS can take before auditing a tax return after that return has been filed. While the common perception that the statute of limitations on IRS tax audits is three years, the fact is that there are plenty of instances where the IRS can take much longer than that to audit one’s return. Below is a brief overview of the statute of limitations on tax audits in certain situations.
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Complimentary Tax Lawyer Webinar- Want A Steady Stream of Prospective Tax Clients?

As CEO of www.taxconnections.com, I invite tax lawyers to a complimentary webinar this week to learn how to gain a steady stream of prospective new clients. What TaxConnections does is provide an affordable and smart marketing solution for tax professionals and tax lawyers worldwide. You have my promise that the information shared during this complimentary webinar will be stunning.

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International Entrepreneur Rule: Foreign Investment In The U.S.

INTRODUCTION

On January 17, 2017, the Department of Homeland Security (“DHS”) published the final regulation allowing the Secretary of Homeland Security’s discretionary parole authority in order to increase and enhance entrepreneurship, innovation, and job creation in the United States. The International Entrepreneur Rule (the “Final Rule”) will become effective on July 17, 2017.

Usually, parole was granted for urgent humanitarian reasons or significant public benefit to applicants for admission temporarily on a case-by-case basis. The Final Rule adds new regulatory provisions guiding the use of parole on a case-by-case basis with respect to entrepreneurs of start-up entities who can demonstrate through evidence of substantial and demonstrated potential for rapid business growth and job creation that they would provide a significant public benefit to the United States.

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Who Controls Funds In A 529 Plan?

Who controls the funds held in a Section 529 qualified tuition account? These accounts can become quite large, as they are limited only by the projected cost of a college education, and those costs will vary between state plans. Some states base their maximums on the cost of an in-state, four-year education, but others use the cost of the most expensive schools in the U.S.—including graduate studies. Most have limits in excess of $200,000, and some can reach $475,000 or more. Thus, it is only natural that those who fund an account would be concerned about who controls the account’s distributions. Read More

What Drives Constitute Business Miles Drives?

If you drive your car or other vehicle for business purposes, you can take a mileage deduction of 53.5 cents for every mile you drive for work in 2017 (54 cents per mile for 2016). Here is everything you need to know in order to get the most out of your mileage write off.

What Drives Are Business Drives?

With the mileage deduction, the IRS only lets you deduct trips that are for business. The natural question is: What types of trips are considered business drives? We’ve put together this simple chart to let you know what drives are considered business by the IRS:

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U.S. Taxpayers Face Horrendous Fines When They Fail To Report Foreign Financial Assets

US taxpayers face horrendous fines for failing to accurately report foreign financial assets on the annual 1040 tax return using form 8938. The fines range from 50%-125% of the asset value every year not accurately reported. This is very serious stuff.

One individual pointed out that the IRS has a document called “Question & Answers on Form 8938” which says that ownership of “foreign real estate is not is not a specified foreign financial asset required to be reported on form 8938.” While this is narrowly true, it is dangerously misleading. Here’s why.

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How The U.S. Can Leverage FATCA Bilateral Process

TaxConnections Member Professor William Byrnes examines whether it is prudent for taxpayers to trust the governments of the 117 countries that scored a fifty or below on Transparency International’s corruption index. The complete information system invoked by the Foreign Account Tax Compliance Act (FATCA) encourages, even prolongs, the bad behavior of black hat governments by providing fuel (financial information) to feed the fire of corruption and suppression of rivals. Professor Byrnes recommends that the United States leverage a “carrot-stick” policy tool to incentivize bad actors to adopt best tax administration practices.

Article download at https://ssrn.com/abstract=2916444

A Virtual Tax Office Tour – April 6th 2017 Webinar Today

TaxConnections Complimentary Webinar For tax Professionals-Thursday, April 6th 2017 at 1:00PM EST /3:00PM CT /4:00PM EST

  1. A Virtual Tax Office Tour To Reduce Your Overhead
  2. Tax Experts- Ask Tax Question (High Traffic Platform)

Due to the high number of visitors searching for tax experts through our new mobile platform, you are invited to view this exciting client acquisition feature during our complimentary webinar on Virtual Tax Offices today Thursday, April 6th 2017 at 1:00PM EST/3:00PM CT/4:PM EST. Read More

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