Posts tagged as:
Nobody enjoys paying income taxes. Most business owners grumble a bit about their tax bills, find legal ways to minimize them and resign themselves to sending the government more than they would like. For some people, this isn’t enough. They look for ways to avoid paying U.S. income taxes even if [...]
{ 0 comments }
Continue ReadingBy now most people have filed their tax returns or asked for an extension. While this provides a momentary respite from tax worries, nagging thoughts lurk in the back of many business owners’ minds: Will I get audited? Will the IRS dispute the amount I owe? For most people this is [...]
{ 0 comments }
Continue ReadingFor years small business owners have sent a clear message to national elected officials: We need tax reform! The complexity of the tax code and the burdens it places on small businesses are tremendous. According to the non-partisan Tax Foundation in Washington, D.C., the average person has to work until Apr. [...]
{ 0 comments }
Continue ReadingIn 1912, President William Howard Taft signed into law the Lloyd — La Follette Act which protected civil servants from “unwarranted or abusive removal” and gave employees the right to furnish information to members of Congress without interference. This in effect became the first law to protect whistleblowers in the [...]
{ 0 comments }
Continue ReadingThe Small Business Jobs Act of 2010 has been one of many controversial pieces of legislation that have become law this year. Right here on OPEN Forum there were differing opinions on the value and efficacy of the legislation, as you can see here and here. While this debate will continue for [...]
{ 0 comments }
Continue ReadingFew activities can be considered less desirable than an audit by the Internal Revenue Service. Even a root canal may rank slightly above it. Last year, 1.03 percent of tax returns filed were audited. This represents over 1.4 million audits. Over 97 percent of these audits were for individual [...]
{ 0 comments }
Continue ReadingState governments across the country are facing some of the worst budget deficits in history. According to the National Conference of State Legislatures, a bipartisan organization that provides research, technical assistance and opportunities for idea exchange among legislators, states are facing an aggregate budget gap of at least $83.9 billion for the [...]
{ 0 comments }
Continue ReadingThere is a great deal of buzz starting to generate around the “value-added tax” (or VAT). The concept of a VAT was first proposed by Wilhelm von Siemens, son of the founder of Siemens in 1918. The first country to implement a value-added tax was France in 1954. Today, nearly 100 [...]
{ 0 comments }
Continue ReadingFor every one dollar in federal income taxes owed, the IRS is only able to collect 84 cents. The missing 16 cents is called the tax gap. It’s the difference between what individuals and businesses should pay and what they actually do pay. After adjusting for late payments and enforcement actions by [...]
{ 0 comments }
Continue Reading
I can teach you proven strategies for growing sales and for raising money from investors. I founded EcoFin Media, Trans 24/7 and Proximo International.
