• Surviving Tax Time 2012

    Before filing your taxes you need to get familiar with terms that will help you in getting ready for this Tax season. There are things which you need to understand because when some people think of filing and paying their taxes, they panic. Many have no clue on how to manage their Tax Obligations etc. Thus, in order to make your life easier we decided to create your small business TAX glossary for your convenience. Filing and Paying Your Taxes So before you get started with your tax filing session, go through the following list, it will help you in speeding up the entire filing process. The first and foremost thing which

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  • New CPP Rules

    Retirement planning is so important because things change overtime and there is no guarantee what type of government benefits will be available to you once you finally reach the age of retirement. The younger you are the wider that gap and planning for retirement at a younger age is less expensive and gives you more time to ensure that you are prepared and financially stable once you are ready to retire. Just this year some good news was reported about Canada Pension Plan benefits. As of this year, you no longer have to stop working to draw CPP. You can simultaneously receive and accrue CPP benefits between the ages of 60

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  • The Voluntary Disclosure Program and What to Do if You Failed to Declare Income to the Canada Revenue Agency

    If you have failed to declare income to the Canada Revenue Agency this is very serious and should be dealt with immediately. The consequences of failing to declare income to the CRA are very serious and range from financial consequences like penalties and interest all the way up to criminal prosecution in severe circumstances. People fail to declare income many different ways, some intentional, some unintentional. These include failing to file tax returns, writing off expenses that you are not entitled to, declaring less income on a tax return than what you earned and more. If you have undeclared income you can take steps

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  • Understanding The Use Of an IRS Tax Garnishment

    Principally, a tax levy occurs when the IRS seizes your property as settlement for the debt that you owe. The law states that the IRS is not required to take action in a court in order to be approved for their decision. Likewise, the IRS can take any possessions as settlement for your debt. This means that property, such as a home, car, or anything of actual worth can be used as a settlement for your debt. The IRS can also sell your property in order to acquire money as settlement for your debt. An additional option is that the IRS can subtract money from your earnings and wages to get their payment. Whether you are

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  • Trusts and Annuities

    Trusts come in many different forms and are used for many different purposes. Generally, trusts are either revocable or irrevocable, grantor or non-grantor, inter vivos or testamentary, and simple or complex. Trusts are used to manage assets, distribute income, provide for college educations, pay for funerals, pay estate tax liabilities, and qualify for government entitlement benefits - Medicaid, SSI, and Veterans pension.Annuities also come in many different forms and are used for many different purposes. Generally, annuities are either tax-deferred or immediate; fixed, indexed or variable; qualified or nonqualified;

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  • Don’t Get Offended With The IRS Get A Business Tax Lawyer

    My Business Tax Lawyer Saved Me From The IRS This Is How A Business Tax Lawyer must be talented to obliterate one's tax concerns with one best possible result. That simply doesn't just mean the least taxes handed over back. A Business Tax Lawyer should additionally be capable of fix what triggered the problem in the very first place. Only an skilled Business Tax Lawyer can understand how both the Internal Revenue Service in addition to State revenue boards work. Additionally a Business Tax Lawyer must recognize the intense pressures taxpayers are under. A Business Tax Lawyer manages everything from unfiled taxes,

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