Bloomberg News Service reports that the Internal Revenue Service will audit 6,000 U.S. companies to determine whether they pay all their required employment taxes.
The IRS said the audits will show how often companies (a) misclassify workers as contractors in order to reduce tax obligations, (b) fail to pay taxes on fringe benefits such as personal use of company cars, and (c) improperly pay taxes for company executives.
The IRS is especially suspicious of Sole Proprietorships. Expect the bulk of the audits to hit unincorporated small businesses.
Part of strategic tax planning is taking action that will increase your chances of surviving an audit.
The time is now to strategically plan to stop wasting money on taxes you are not required to pay. Most changes need to be in place by December 31 to reduce your current year taxes, and sooner implementation results in greater savings, so act now!
The IRS admits that American taxpayers leave money on the table. Planning to pay less taxes is legal and prudent. Depending upon your goals, career, income, investments, age and family circumstances, I can devise and help you implement strategies that legally reduce your tax payments, so you can stop wasting money on taxes you are not required to pay. Instead, you can put those dollars into education, savings, investments, home improvement, vacations or spend them as you choose.
9/21/09
9/11/09
BusinessWeek Magazine (Sept 10, 2009) says, "investors have turned away from anything remotely risky."
The next big risk is not declines in portfolio value, it's TAXES. Taxes will devour retirement savings if not planned properly.
The time is now to strategically plan to stop wasting money on taxes you are not required to pay. Most changes need to be in place by December 31 to reduce your current year taxes, and sooner implementation results in greater savings, so act now!
The next big risk is not declines in portfolio value, it's TAXES. Taxes will devour retirement savings if not planned properly.
The time is now to strategically plan to stop wasting money on taxes you are not required to pay. Most changes need to be in place by December 31 to reduce your current year taxes, and sooner implementation results in greater savings, so act now!
9/1/09
2010 will be the year for Roth conversions.
In 2010, previously ineligible taxpayers will qualify to convert traditional IRA funds to Roths. And, the resulting tax can be spread over two years. However, there are always traps and landmines in the tax code and this process is easy to mismanage. If you have traditional IRAs, get professional advice about whether it is advantageous for you over the long run to convert in 2010 and, if so, how.
The time is now to strategically plan to stop wasting money on taxes you are not required to pay. Most changes need to be in place by December 31 to reduce your current year taxes, and sooner implementation results in greater savings, so act now!
The time is now to strategically plan to stop wasting money on taxes you are not required to pay. Most changes need to be in place by December 31 to reduce your current year taxes, and sooner implementation results in greater savings, so act now!