Kat Jennings, TaxConnections CEO and internationally recognized tax search consultant, has worked with many firms over the years. One of her clients is an East Bay Area boutique tax practice with former Big Four Tax Partners and has grown to around a 50-person tax practice. They offer a culture of support, respect, flexibility, and opportunity that is refreshing to experience these days.
If you drive a personal car for business reasons, your employer may provide a mileage expense reimbursement. Here’s a quick explanation on how you calculate your reimbursement.
How to Calculate Mileage Expenses Reimbursement
You’ll want to keep a mileage log book of all your drives. Nowadays, companies prefer a digital mileage log like those generated by MileIQ. Make sure you’re including: Read More
I have written many posts that include a discussion of PFICs. This post has been motivated by a post by Karen Alpert at “Fix The Tax Treaty” (well it can’t really be fixed). The post focuses on the use of “non-U.S. mutual funds” in retirement planning. The post is written from the perspective that “non-U.S. mutual funds” ARE PFICs. Read More
We previously discussed that the U.S. Tax Court ruled against the IRS in this $1.5 billion transfer pricing dispute with Amazon, which currently has experts calling for a re-examination of the agency’s valuation methodologies in order to prevent it from wasting its own resources and those of taxpayers. Read More
This month brings us to the Sooner State of Oklahoma. The state lies between the Great Plains to the West and the Ozark Plateau to the East and is in the Gulf of Mexico watershed, generally sloping from the high plains of its western boundary to the low wetlands of its southeastern boundary. With small mountain ranges, prairies, mesas and eastern forests, most of the state lies in the Great Plains, Cross Timbers, and the U.S. Interior Highlands, a region prone to severe weather. Read More
Campaigners lobbying for the repeal of FATCA in the USA are demanding to know why President Donald Trump and Republicans in Washington are ignoring their call to axe the controversial tax law.
Around 24 separate lobby groups have come together under the Repeal FATCA banner.
They want to abolish FATCA and have spoken with Republicans in Washington DC to support them.
But despite the Republicans listing the repeal of FATCA as one of their presidential election policies, no mention has been made of FATCA since President Trump has entered office. Read More
Benjamin Franklin famously said, ‘A Penny Saved is a Penny Earned’ and I couldn’t agree more. Investors are always looking for ways to grow their account balances and reducing their tax bill might be the simplest way. Here are a few ways to get more out of your investments by paying less in taxes:
High net worth individuals are loathe to transfer assets to any entity over which they have no control. This fact creates an unresolvable problem when forming an offshore asset protection trust: so long as a U.S. person can exert even a modicum of control over a foreign entity, a U.S. court has sufficient grounds to rule that a U.S. based debtor can repatriate assets. More importantly, failure to comply with a repatriation order could lead to contempt citation against the U.S. debtor. The facts of Federal Trade Commission v. Affordable Media typify this problem. Read More
I will be speaking, July 12 in Anaheim at the Phoenix Club at the Orange County Chapter of the California Society of Tax Consultant’s. The topic is “Business Without Borders – A Primer on Multistate and Multinational Taxation.”
The event will be from 6:00pm to 8:30pm PST. The event will be broadcast on Facebook Live. For those of you interested in viewing the event please be sure to visit my Facebook page at https://www.facebook.com/AscendBusinessAdvisory/ Read More
Join me as I introduce Ryan Embree from Practice Ignition who will walk you through step by step instructions on how to use this super easy template software. What Practice Ignition has done is take the client onboarding process including proposals, engagement letters, and billing clients super easy and fun. This elegant template software takes what would normally take any tax, accounting or legal professionals hours and streamlines it to minutes. All attendees will receive a two week for trial for attending this webinar since you will become a pro after one easy training webinar. Read More
On June 20, 2017, Speaker Paul Ryan spoke to the National Association of Manufacturers about tax reform. He has a 1 minute YouTube video of highlights here. The tag line is “Tax reform is happening. Not next year or next Congress. It is happening now, in 2017.”
Per his email message of 7/5, “We’re not talking about some rinky-dink, watered-down version of reform where the status quo basically remains as is. No, instead, imagine transformational tax reform that closes decades of loopholes, shakes up the IRS, and actually encourages businesses to stay and grow here in America.” Read More
After failed attempts in the past, the Internal Revenue Service has engaged the services of four private-sector collection agencies. As most people are aware, there are numerous tax-related scams in today’s world. If you are contacted by someone who states they are attempting to collect a tax debt for the IRS, you need to know what to expect and how to determine if the individual is legitimate. Read More