Earned Income Tax Credit

Corporate Tax Planning Is Not An Option, It Is A Must

Australia is a country with a sound taxing system. The taxation system prevailing in the country is not unlike most countries where the greater denomination of tax revenue arises from income tax. Here is a brief description about its major tax systems and superannuation schemes. Taxes are Unavoidable It is impossible to avoid paying taxes [...]

Corporate Tax Planning Is Not An Option, It Is A Must

Australia is a country with a sound taxing system. The taxation system prevailing in the country is not unlike most countries where the greater denomination of tax revenue arises from income tax. Here is a brief description about its major tax systems and superannuation schemes. Taxes are Unavoidable It is impossible to avoid paying taxes [...]

Internal Revenue Service Tax Audit Is Very Unlikely To Occur

Most people would rather get a root canal than get an audit by the Internal Revenue Service. An IRS notice of an impending audit is nothing any person wants to experience at all, as the prospect is very intimidating. An individual actually has about a 1 in 100 chance of audited by the Internal Revenue [...]

Income Tax Information — Never Ignore A Letter From The IRS

Filing income tax returns on time is the only way to avoid interest and penalties. This isn’t rocket science, yet millions of U.S. taxpayers annually spend the last few weeks before the April deadline in a state of perpetual anxiety induced by the habit of putting it off to the last possible moment. Here are [...]

Withholding Tax May be Hazardous to your quality of life

In news bulletins, they keep announcing all the gains that are being made in America during the period of the much-applauded recovery; companies are supposed to be turning out better profits, and companies are supposed to be generously adding to their jobs rosters continuously. Even so, compared to how many people are unemployed out there, [...]

Taxation and rates of savings dictate your financials

Federal income taxation and savings rates establish your future financial security Be aware of just how your current rate of savings determines your financial future. In addition to your career development to improve your pay, your rate of savings primarily affects your family’s long-term financial health by steadily and more substantially raising your net worth. [...]

Give to Relief in Haiti – Get Immediate Tax Deduction on 2009 Tax Return

Raleigh NC Accountant A few days ago in a email news post I made the distinction that the Haiti disaster is now a qualified disaster says the IRS (http://www.irs.gov/newsroom/article/0,,id=218615,00.html). I said in the email that the IRS was rumoring that people are able to make a deduction for contributions to Haiti on the current year’s [...]

A Short Timeline of Taxation Practices of the USA, Chapter 3

Raleigh NC CPA W. Marc Gilfillan, CPA, NC, individual and business CPA and Tax expert, shares about the history of taxes… So the question remains, what happened with taxes in the US? US tax makers have been collecting what they have been sowing for a long time. Our honor system has been trumped by a [...]

A Brief Timeline of Taxation of the United States, Chapter Two

Raleigh NC Accountant W. Marc Gilfillan, CPA, NC, individual and business CPA and Tax expert, shares about the history of taxes… 1861 – After Lincoln’s election, southerners walk out of Congress and create the Confederacy with a new constitution to sustain the new government power to tax in check. 1862 – The beginning of US [...]

The History of Taxation, Part Nine: Taxes, Slavery, and the American Civil War

Raleigh NC Accountant W. Marc Gilfillan, CPA, NC, individual and business CPA and Tax expert, shares about the history of taxes… “Slavery – the one cause of the Civil War.” – John Stuart Mill, 1862 Could there be any doubt about this topic? Certainly the American Civil War was about slavery… wasn’t it? Well actually, [...]