President Signs HR 5771 Retroactively Extending Expired Tax Incentives For Businesses & Individuals Through 2014

Tax Increase Prevention Act of 2014 Signed The Tax Resolution Institute marks the decision by President Obama and the Congress to extend expired business and individual tax incentives and provisions. On December 16, the Senate passed a bill that retroactively extended over 50 expired tax provisions through 2014. President Obama signed the Tax Increase Prevention Act of 2014 on December 19th. Although the bill addresses a multitude of expired tax provisions, the following incentives are the most pertinent for small businesses. 6 Top Tax Incentive Extensions: Research and Development Credits First-Year Bonus Depreciation – 50% 15 Year Depreciation [...]

2017-05-23T10:01:52-07:00December 22nd, 2014|Tax Planning, Tax Resolution Services|

Tax Planning Tips for Small To Mid-Sized Business Owners As 2014 Comes To A Close

As 2014 comes to a close, many small to mid-sized business owners are facing escalating tax rates on account of new rules and regulations instituted by the American Taxpayer Relief Act and the Affordable Care Act of 2012. If you want to counter the cost, effective wealth management strategies are needed. Continual tax planning is recommended year-round to find the opportunities that will reduce the financial burden. The goal is to retain capital while reducing a company’s tax burden legally. Tax Planning Tips for Small to Mid-Sized Businesses For example, by offering retirement packages to your employees, you can defer [...]

Three Tax Tips For Small Business Owners To Help Avoid Employment Tax Problems

Why are so many small business owners suffering from employment tax problems and payroll tax issues? The Tax Resolution Institute want to help by providing three tax tips to help small business owners with business tax questions and employment tax problems. After all, the Tax Resolution Institute has a long history of helping business owners with payroll tax issues and trust fund recovery difficulties find the tax relief they so desperately need. Employment Tax Problems Avoided Facing Employment Tax Problems Although these three tax tips are not the answer if you have serious payroll tax issues, they will [...]

October 15 Tax Deadline For 2014 Federal Income Tax Extension Filings Rapidly Approaching

Did you know the October 15 tax deadline for 2014 Federal Income Tax Extension filings is rapidly approaching? If you filed for an extension to pay your IRS income taxes on April 15, you need to file your unfiled tax return and pay your delinquent tax bill by October 15. If you fail to file by the October 15 tax deadline, the problem will only get worse. October 15 Tax Deadline Looming October 15 Tax Deadline If you filed for a federal tax extension in April, your tax returns need to be filed by October 15. Taxes are normally due [...]

National Taxpayer Advocate Highlights New Taxpayer Bill Of Rights To Congress But Tax Resolution Help Needed

In National Taxpayer Advocate Nina E. Olson’s mid-year report to Congress to identify the priority issues the Taxpayer Advocate Service, she emphasizes the importance of taking concrete steps to give meaning to the recently adopted the Taxpayer Bill of Rights. Olson’s report praises the IRS for implementing the Advocate’s longstanding recommendation to adopt a Taxpayer Bill of Rights. The Tax Resolution Institute supports this decision. Taxpayer Bill of Rights Important In The Right Direction But Tax Resolution Help Needed National Taxpayer Advocate Nina E. Olson wrote in a preface to the report, that “this is generally good news. [...]

IRS Tax Tips About Profitable Hobbies, Deductions And Summertime Tax Problems

Hobby Deductions Cause Trouble IRS tax tips are not a bad thing. The Tax Resolution Institute wants to note IRS efforts to help American taxpayers with tax challenges through their ongoing series IRS Tax Tips. Unfortunately, most people never see these online offerings. As a result, in celebration of summer, here is the IRS summertime version of Tax Tips focused on hobbies taken from the IRS website. When your hobby is also a source of income like stamp and coin collecting, craft making, and horsemanship, you need to be aware that any income generated is taxable. You must report [...]

Tax Resolution Specialist Peter Stephan Shows Pasadena Business Owners How To Avoid Tax Pitfalls Of Success

On July 25, tax resolution specialist Peter Stephan led the most recent session of the ongoing Business Growth Workshops at the University Club in Pasadena. In an insightful and highly specific presentation entitled Managing Business Success Through Tax Planning And Minimalization, Peter Stephan illuminated how the success and growth of a business does not have to lead to tax difficulties and troubles. As a tax resolution specialist, Peter showed the gathered Pasadena business owners how to avoid the pitfalls of tax problems. Help From A Tax Resolution Specialist Peter Stephan on Tax Planning In the beginning of his [...]

Peter Stephan to Speak at the Business Growth Workshop at The University Club in Pasadena on July 25, 2014

Peter Stephan at the University Club in Pasadena BUSINESS GROWTH WORKSHOP The Topic - Managing Business Success Through Tax Planning   Peter Stephan on KRLA as The Tax Guru Friday, July 25th, 2014 from 7:30am to 9:30am Breakfast Included   This is FREE EVENT for members of the University Club Non-Members Fee is $25 For reservations please call 626-793-5157 or email the  frontdesk@universityclubpasadena.com   University Club of Pasadena 175 N. Oakland Avenue Pasadena, CA 91101           About This Workshop In this presentation, Peter Stephan will focus on managing business success through tax planning and minimalization. As companies grow [...]

2014 Small Business Tax Relief Act Passed By House Of Representatives Supported By Tax Resolution Institute

Although many small business owners are still facing business tax problems, the Tax Resolution Institute notes the passing of the 2014 Small Business Tax Relief Act. The House of Representatives voted to pass H.R. 4457, America’s Small Business Tax Relief Act. The act still needs to pass the Senate to become law. Designed to help small business owners streamline records and purchase needed equipment, the 2014 Small Business Tax Relief Act could provide important tax relief. Although it does not cover the many small business owners already in need of tax resolution support, the 2014 Small Business Tax Relief Act could [...]

Medtronic Abandons The U.S. Tax System, Revealing Flaws In IRS Business Taxes And Payroll Taxation

Medtronic Runs Away From The IRS Given the crushing IRS business and payroll taxes experienced by American companies, the Tax Resolution Institute is not surprised that Medtronic Inc., the globe-spanning medical device maker founded in a Minneapolis garage in 1949, is preparing to break a true boundary by becoming the biggest company yet to escape the IRS and the U.S. tax system by shifting its incorporation abroad. Medtronic announced on June 14 that it plans to take a legal address in tax-friendly Ireland as part of a $42.9 billion takeover of Covidien Plc. (COV). Although Covidien is run from Massachusetts, it’s [...]