Tax Doesn’t Have to Be Taxing

And did you know the IRS is substantially increasing its audits of small businesses? Or that a welfare benefit plan can make your estate, business succession, or buy-sell plan tax deductible? You can even have a welfare benefit plan in addition to a retirement plan. Not only that, but medical expenses reimbursed to employees are… Continue reading Tax Doesn’t Have to Be Taxing

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How to Initiate a 1031 Exchange

If you want to defer your capital gains tax, a 1031 exchange can be a way to do this while purchasing new property. There are several steps to follow if you want to initiate a 1031 exchange. First of all, you should have real estate that qualifies for the exchange. Investment real estate or real… Continue reading How to Initiate a 1031 Exchange

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Tax Reforms

Implementing “flat tax” on Income Rate One tax reform issue that requires addressing is the amount of revenue that needs to be raised by the federal tax system. When there is a disproportion between revenue and spending, debts and federal deficits will increase and reach unsustainable limits. Policy makers need to assess tax policies and… Continue reading Tax Reforms

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Individuals Responsible for the Tax Reportings Need to Follow the Guidelines to Apply for an ITIN

An ITIN is a number that is made available to only the taxpayers who are required to have a legal identification number for the tax purposes in the US but have not yet qualified for a Social Security Number and regardless of their immigration status. Individuals working and earning money can apply for an ITIN… Continue reading Individuals Responsible for the Tax Reportings Need to Follow the Guidelines to Apply for an ITIN

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