Taxes
China Tax Update - New Corporate Tax Laws Take Effect
A new Corporate Income Tax Law (”CIT Law”) was passed by China’s legislature, the National People’s Congress. The new law was launched on March 16, 2007 and it takes out many of the tax incentives that had specifically been provided to foreign invested manufacturing companies.
However, it decreased the current corporate income tax rate from 33% […]
Room For Further Tax Cutting In Hong Kong
Hong Kong’s top financial officials have put forward some amendments aimed at bringing back wealth to people, including tax cuts and other compromises. The package of measures and compromises are offered to help the disadvantaged, improve Hong Kong’s economical stability and guarantee lasting development.
The government has predicted a surplus in the Consolidated Account of 115.6 […]
Property Tax Fat Trimming: Shaving Cost in New Jersey
With expenditures rising in almost every category when it comes to consumerism in the U.S., it’s no wonder that property tax is in line with that trend too. Although it’s not the most expensive thing a homeowner has to pay with a house, it can add the extra sting to mortgage payments or a seemingly […]
Learning About Your Tax Status
It’s tax season. Are you done with your taxes or are you just panicking about all of the unfamiliar terms? Let’s take one of those terms, tax status, and try to make some sense of it.
There are five tax classifications to consider when you are filing your income taxes: single, married filing jointly, married filing […]
Take The Pain Out Tax Season With Advancements In Tax Software
Tax season can take its toll on tax preparers and individuals scrambling to decipher all of the forms and rules and regulations set out by the IRS. With changes to laws and calculations each year, how is one to stay up to date on the latest and greatest? The answer: Tax Preparation Software.
There […]
Can The Bush Tax Cut Work?
After weeks of increasingly dismal reports from the financial sector, many regular Americans are beginning to worry that the US may be close to or already in recession. While government intervention in the economy is relatively uncommon in US history, since its establishment in the 1930’s, the Federal Reserve has been able to manipulate interest […]
Audit Triggers - How Does the IRS Decide Who To Audit?
With the tax clock ticking down lots of people are finishing up their tax returns. A common question that comes up during this joyous time of year is, “How can I avoid an audit?” Fortunately for most taxpayers the question is far more common than an actual audit. Only around 1% of […]
Tax Refund Options for Americans without Bank Accounts
Therefore, it is the dreaded tax filing season again, and you are faced with many questions. How should I prepare my return? Should I itemize my deductions? In addition, (if you are lucky enough to get a refund) how should I receive my refund?
In addition, although you do not really have a choice when […]
Making Taxes Less Taxing
April 15th can be the most stressful day of the year for many Americans. The date when federal taxes are due can strike fear into the hearts of the most serious taxpayers. Writing that yearly check to Uncle Sam can be quite distressing, especially if we find we owe more than we thought we would.
What […]
Business Tax Reform In The UK Introduces Annual Investment Allowance
When a business buys a long term fixed asset it is normal to depreciate that capital asset over a number of years to smooth out the effect on net profit. Depreciation being a management decision is not allowed as a deductible taxable expense and while being deducted to arrive at the management net profit is […]
