According to the IRS one in every four eligible taxpayers do not claim their Earned Income Tax Credit (EITC). This often overlooked tax credit is also one of the largest credits available to taxpayers. This year, the maximum EITC is $6,143 and that is a LOT of money to leave on the table.
For the export to be successful we should obtain a realistic response to the questions that will help us to assess the real situation of the company and whether if the company has a real export potential and capacity.
While many of us show our generosity throughout the year by donating to charity and volunteering our time to help causes we support, there's no better time than the holidays to get into the spirit of giving.
So give yourself one final gift this year and consider your taxes as you do what you normally do during the end of the year and the holiday season. A bit more attention to the tax rules and possibly tweaking what you do, might give you a bigger refund at tax time.
The flurry of activity during the last weeks of December can make it difficult to pay attention to finances. If you want to save on your tax bill come April, now's the time to make some critical moves.
Exit polling data from Election Day showed clear majorities in against growing corporate influence on the political process and in favor of greater corporate accountability. The message is clear: inversions must stop, corporate tax avoidance must end, and special corporate loopholes must close.
The mid-term elections are over, but -- as of this minute -- Congress has not tackled extending some tax breaks, i.e. that collective group known as the "Tax Extenders", which we address seemingly every couple of years.
It is important to note that UP is administered at the state level. In fact, all 50 states and Washington D.C. have their own laws and regulations regarding types of property that can be classified as UP, the dormancy period by property type, and the reporting requirements for holders of UP.
Time is running out for Dave Camp to leave a positive legacy on taxes. Putting multinational corporations on the road to paying their fair share would be the perfect parting gift to his Michigan constituents.
In addition to supporting members of Congress and civil servants, U.S. taxpayers support welfare recipients. And they support them lavishly, too. Hawaii, Massachusetts, and D.C. residents receive sizeable welfare payments (Read: salaries).
For millions of Americans, 2015 open enrollment for employer-provided benefits is right around the corner. While it may be tempting to simply opt for the same coverage you have this year, doing so could cost you hundreds -- or thousands -- of dollars in tax savings.
By buying out a foreign company and using it as a tax haven, companies that "invert" don't move abroad in any real sense, and continue to benefit from America's infrastructure, education system, security and large consumer market.
The real revolution happens every year on election day. And one day, I'm going to see millions of American's finally realize that we had the power all along and act accordingly. What a wonderful day that will be.
In my more than 25 years of helping individuals and businesses navigate the complexities of state and local taxes, I have found there to be one constant: States are very welcoming to new residents but make it extremely difficult for them to leave.
Airlines and their congressional allies have subverted parliamentary procedure to pass the Transparent Airfares Act, first through committee and now through Congress, where the bill is expected to be added to the suspension calendar.
The internationalization is not a simple step, since it requires time for planning, evaluation and implementation. Before taking the leap into foreign markets, we must take into account the following factors.
As soon as you start thinking about starting a business, you should begin tracking your expenses -- whether you use an app, a notebook or go the old-school route and use shoeboxes, be sure to keep receipts and cancelled checks.
It's an Elon Musk world, and we're just living in it. Before we bow down to a seemingly fearless and altruistic pioneer of electric vehicles and libertarianism, it's important to point out the ongoing contradictions with Musk and markets.