International Tax Strategy -The Internal Revenue Service has issued new procedures to help nonresident U.S. taxpayers, including dual Canadian citizens, comply with U.S. tax laws even if they have previously undeclared foreign bank accounts. For no obligation free consultation contact us today!
30 Eylül 2012 Pazar
International Tax Strategy
To contact us Click HERE
ABA Tax Accounting | International Tax
International Tax Strategy -The Internal Revenue Service has issued new procedures to help nonresident U.S. taxpayers, including dual Canadian citizens, comply with U.S. tax laws even if they have previously undeclared foreign bank accounts. For no obligation free consultation contact us today!
International Tax Strategy -The Internal Revenue Service has issued new procedures to help nonresident U.S. taxpayers, including dual Canadian citizens, comply with U.S. tax laws even if they have previously undeclared foreign bank accounts. For no obligation free consultation contact us today!
Put more money in your pocket now and prevent tax bills later
To contact us Click HERE
ABA Tax Accounting | Tax Planning
Tax Planning - Check your withholding: It's not too late to adjust your 2012 tax withholding to avoid big tax refunds or tax bills when you file your tax return next year. You should act soon to adjust your tax withholding to bring the taxes you pay closer to what you actually owe. In some cases, this will put more money in your paycheck. Each year, millions of American workers have far more taxes withheld from their pay than is required, resulting in large refunds. They must wait for their tax return and refund to process before they can access their money. If they’ve tied major financial decisions to the receipt of their refund, they may face stress. This is especially true if they’re depending on their refund to arrive by a certain date.
Others wind up owing money on tax day. They may experience stress from having to add an unanticipated federal tax bill into their budget.
Here is some information to help bring the taxes you pay during the year closer to what you will actually owe when you file your tax return.
Employees
You can submit a new Form W–4 anytime you wish to change the number of your withholding allowances. However, if your life event results in the need to decrease your withholding allowances or changes your marital status from married to single; you must give your employer a new Form W-4 within 10 days of that life event.
Self-Employed
Tax Planning - Check your withholding: It's not too late to adjust your 2012 tax withholding to avoid big tax refunds or tax bills when you file your tax return next year. You should act soon to adjust your tax withholding to bring the taxes you pay closer to what you actually owe. In some cases, this will put more money in your paycheck. Each year, millions of American workers have far more taxes withheld from their pay than is required, resulting in large refunds. They must wait for their tax return and refund to process before they can access their money. If they’ve tied major financial decisions to the receipt of their refund, they may face stress. This is especially true if they’re depending on their refund to arrive by a certain date.
Others wind up owing money on tax day. They may experience stress from having to add an unanticipated federal tax bill into their budget.
Here is some information to help bring the taxes you pay during the year closer to what you will actually owe when you file your tax return.
Employees
You can submit a new Form W–4 anytime you wish to change the number of your withholding allowances. However, if your life event results in the need to decrease your withholding allowances or changes your marital status from married to single; you must give your employer a new Form W-4 within 10 days of that life event.
Self-Employed
It's not too late to file your 2011 tax return
To contact us Click HERE
ABA Tax Accounting | Tax Services
Income tax Services - Believe it or not, your kids don’t always have to separate you from your money. Sometimes they can actually help you keep some. If you haven’t filed your 2011 tax return yet, you have five good reasons to file today.
Adoption Credit
Child Tax Credit
Child and Dependent Care Credit
Earned Income Tax Credit
Education Credit
For information about these credits and much, contact us today to for Free Consultation!
Income tax Services - Believe it or not, your kids don’t always have to separate you from your money. Sometimes they can actually help you keep some. If you haven’t filed your 2011 tax return yet, you have five good reasons to file today.
Adoption Credit
Child Tax Credit
Child and Dependent Care Credit
Earned Income Tax Credit
Education Credit
For information about these credits and much, contact us today to for Free Consultation!
Pay less tax! What's New with Self-employment tax for 2012?
To contact us Click HERE
ABA Tax Accounting | Small Business Accounting
Small Business Accounting – The maximum net self-employment earnings subject to the social security part of the self-employment tax is $110,100 for 2012. For no obligation free consultation contact us today!ABA Tax Accounting
Small Business Accounting – The maximum net self-employment earnings subject to the social security part of the self-employment tax is $110,100 for 2012. For no obligation free consultation contact us today!ABA Tax Accounting
Romney's 47% Comments Distance Him from Bush-Era Republicans
To contact us Click HERE
ABA Tax Accounting | Tax Services
Eleven years ago, eliminating income taxes for low-income Americans was an applause line for a Republican president. Mitt Romney in 2012 sees the number of people paying nothing as a political problem. To read the full story click here. For more info please contact us:
Eleven years ago, eliminating income taxes for low-income Americans was an applause line for a Republican president. Mitt Romney in 2012 sees the number of people paying nothing as a political problem. To read the full story click here. For more info please contact us:
29 Eylül 2012 Cumartesi
It's not too late to file your 2011 tax return
To contact us Click HERE
ABA Tax Accounting | Tax Services
Income tax Services - Believe it or not, your kids don’t always have to separate you from your money. Sometimes they can actually help you keep some. If you haven’t filed your 2011 tax return yet, you have five good reasons to file today.
Adoption Credit
Child Tax Credit
Child and Dependent Care Credit
Earned Income Tax Credit
Education Credit
For information about these credits and much, contact us today to for Free Consultation!
Income tax Services - Believe it or not, your kids don’t always have to separate you from your money. Sometimes they can actually help you keep some. If you haven’t filed your 2011 tax return yet, you have five good reasons to file today.
Adoption Credit
Child Tax Credit
Child and Dependent Care Credit
Earned Income Tax Credit
Education Credit
For information about these credits and much, contact us today to for Free Consultation!
How outsourcing tax functions can keep you compliant and focused on your core business | Smart Business
To contact us Click HERE
How outsourcing tax functions can keep you compliant and focused on your core business | Smart Business
U.S. Based Strategic Outsourcing Solutions for CPA and Law firms
U.S. Based Strategic Outsourcing Solutions for CPA and Law firms
Pay less tax! What's New with Self-employment tax for 2012?
To contact us Click HERE
ABA Tax Accounting | Small Business Accounting
Small Business Accounting – The maximum net self-employment earnings subject to the social security part of the self-employment tax is $110,100 for 2012. For no obligation free consultation contact us today!ABA Tax Accounting
Small Business Accounting – The maximum net self-employment earnings subject to the social security part of the self-employment tax is $110,100 for 2012. For no obligation free consultation contact us today!ABA Tax Accounting
Romney's 47% Comments Distance Him from Bush-Era Republicans
To contact us Click HERE
ABA Tax Accounting | Tax Services
Eleven years ago, eliminating income taxes for low-income Americans was an applause line for a Republican president. Mitt Romney in 2012 sees the number of people paying nothing as a political problem. To read the full story click here. For more info please contact us:
Eleven years ago, eliminating income taxes for low-income Americans was an applause line for a Republican president. Mitt Romney in 2012 sees the number of people paying nothing as a political problem. To read the full story click here. For more info please contact us:
Help! What If I Can't Make My IRS Payment?
To contact us Click HERE
If you are one of thousands of taxpayers who are in a payment plan with the IRS, but due to current economic conditions cannot make your payment, you have options. If you have lost your job and your entire financial situation has changed, you need to contact the IRS and be prepared to lay out your new situation. If you expenses have not changed and your income is all that has changed, you may just need proof (like a termination letter) you no longer have a job.
If your expenses have changed as well, you may need to provide proof of those changes as well. When you talk to the IRS, only say what has happened and answer honestly and completely any questions they may ask. Do not volunteer information, except to briefly explain your situation. Don't get chatty, even if the person you talk is friendly and personable, remember, they work for the IRS. You could make one simple statement that could cause you problems.
If your liability is substantial and you need assistance, contact an Enrolled Agent, who can represent you before the IRS. What ever you do, do not ignore your situation. If you default you payment plan, the IRS can levy your bank accounts, retirement accounts and file a lien even if your tax liability is low. Call either the IRS or an Enrolled Agent before the IRS makes a bad financial situation even worse.
If you are one of thousands of taxpayers who are in a payment plan with the IRS, but due to current economic conditions cannot make your payment, you have options. If you have lost your job and your entire financial situation has changed, you need to contact the IRS and be prepared to lay out your new situation. If you expenses have not changed and your income is all that has changed, you may just need proof (like a termination letter) you no longer have a job.
If your expenses have changed as well, you may need to provide proof of those changes as well. When you talk to the IRS, only say what has happened and answer honestly and completely any questions they may ask. Do not volunteer information, except to briefly explain your situation. Don't get chatty, even if the person you talk is friendly and personable, remember, they work for the IRS. You could make one simple statement that could cause you problems.
If your liability is substantial and you need assistance, contact an Enrolled Agent, who can represent you before the IRS. What ever you do, do not ignore your situation. If you default you payment plan, the IRS can levy your bank accounts, retirement accounts and file a lien even if your tax liability is low. Call either the IRS or an Enrolled Agent before the IRS makes a bad financial situation even worse.
28 Eylül 2012 Cuma
Now is the time for 2013 tax planning
To contact us Click HERE
ABA Tax Accounting | Tax Services
With the current income, estate and gift, and capital gains tax rates scheduled to expire and new taxes under the health care reform legislation set to take effect in 2013, high income taxpayers may see marginal tax rate increases of up to 189% percent, depending on the type of income. Yes, we are available to help. For no obligation free consultation contact us today!
With the current income, estate and gift, and capital gains tax rates scheduled to expire and new taxes under the health care reform legislation set to take effect in 2013, high income taxpayers may see marginal tax rate increases of up to 189% percent, depending on the type of income. Yes, we are available to help. For no obligation free consultation contact us today!
Pay less tax! What's New with Self-employment tax for 2012?
To contact us Click HERE
ABA Tax Accounting | Small Business Accounting
Small Business Accounting – The maximum net self-employment earnings subject to the social security part of the self-employment tax is $110,100 for 2012. For no obligation free consultation contact us today!ABA Tax Accounting
Small Business Accounting – The maximum net self-employment earnings subject to the social security part of the self-employment tax is $110,100 for 2012. For no obligation free consultation contact us today!ABA Tax Accounting
Romney's 47% Comments Distance Him from Bush-Era Republicans
To contact us Click HERE
ABA Tax Accounting | Tax Services
Eleven years ago, eliminating income taxes for low-income Americans was an applause line for a Republican president. Mitt Romney in 2012 sees the number of people paying nothing as a political problem. To read the full story click here. For more info please contact us:
Eleven years ago, eliminating income taxes for low-income Americans was an applause line for a Republican president. Mitt Romney in 2012 sees the number of people paying nothing as a political problem. To read the full story click here. For more info please contact us:
Is it a Business or Hobby? Answer Has Implications for Deductions
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ABA Tax Accounting | Small Business Accounting | St. Paul, MN Accounting Firm
In general, taxpayers may deduct ordinary and necessary expenses for conducting a trade or business. An ordinary expense is an expense that is common and accepted in the taxpayer’s trade or business. A necessary expense is one that is appropriate for the business. Generally, an activity qualifies as a business if it is carried on with the reasonable expectation of earning a profit.
In order to make this determination, taxpayers should consider the following factors:
The IRS presumes that an activity is carried on for profit if it makes a profit during at least three of the last five tax years, including the current year — at least two of the last seven years for activities that consist primarily of breeding, showing, training or racing horses.
If an activity is not for profit, losses from that activity may not be used to offset other income. An activity produces a loss when related expenses exceed income. The limit on not-for-profit losses applies to individuals, partnerships, estates, trusts, and S corporations. It does not apply to corporations other than S corporations. For no obligation free consultation contact us today!
What New Business Owners Need to Know About Taxes
Small Business Accounting – The Internal Revenue Service reminds taxpayers to follow appropriate guidelines when determining whether an activity is a business or a hobby, an activity not engaged in for profit.In general, taxpayers may deduct ordinary and necessary expenses for conducting a trade or business. An ordinary expense is an expense that is common and accepted in the taxpayer’s trade or business. A necessary expense is one that is appropriate for the business. Generally, an activity qualifies as a business if it is carried on with the reasonable expectation of earning a profit.
In order to make this determination, taxpayers should consider the following factors:
- Does the time and effort put into the activity indicate an intention to make a profit?
- Does the taxpayer depend on income from the activity?
- If there are losses, are they due to circumstances beyond the taxpayer’s control or did they occur in the start-up phase of the business?
- Has the taxpayer changed methods of operation to improve profitability?
- Does the taxpayer or his/her advisors have the knowledge needed to carry on the activity as a successful business?
- Has the taxpayer made a profit in similar activities in the past?
- Does the activity make a profit in some years?
- Can the taxpayer expect to make a profit in the future from the appreciation of assets used in the activity?
The IRS presumes that an activity is carried on for profit if it makes a profit during at least three of the last five tax years, including the current year — at least two of the last seven years for activities that consist primarily of breeding, showing, training or racing horses.
If an activity is not for profit, losses from that activity may not be used to offset other income. An activity produces a loss when related expenses exceed income. The limit on not-for-profit losses applies to individuals, partnerships, estates, trusts, and S corporations. It does not apply to corporations other than S corporations. For no obligation free consultation contact us today!
Help! What If I Can't Make My IRS Payment?
To contact us Click HERE
If you are one of thousands of taxpayers who are in a payment plan with the IRS, but due to current economic conditions cannot make your payment, you have options. If you have lost your job and your entire financial situation has changed, you need to contact the IRS and be prepared to lay out your new situation. If you expenses have not changed and your income is all that has changed, you may just need proof (like a termination letter) you no longer have a job.
If your expenses have changed as well, you may need to provide proof of those changes as well. When you talk to the IRS, only say what has happened and answer honestly and completely any questions they may ask. Do not volunteer information, except to briefly explain your situation. Don't get chatty, even if the person you talk is friendly and personable, remember, they work for the IRS. You could make one simple statement that could cause you problems.
If your liability is substantial and you need assistance, contact an Enrolled Agent, who can represent you before the IRS. What ever you do, do not ignore your situation. If you default you payment plan, the IRS can levy your bank accounts, retirement accounts and file a lien even if your tax liability is low. Call either the IRS or an Enrolled Agent before the IRS makes a bad financial situation even worse.
If you are one of thousands of taxpayers who are in a payment plan with the IRS, but due to current economic conditions cannot make your payment, you have options. If you have lost your job and your entire financial situation has changed, you need to contact the IRS and be prepared to lay out your new situation. If you expenses have not changed and your income is all that has changed, you may just need proof (like a termination letter) you no longer have a job.
If your expenses have changed as well, you may need to provide proof of those changes as well. When you talk to the IRS, only say what has happened and answer honestly and completely any questions they may ask. Do not volunteer information, except to briefly explain your situation. Don't get chatty, even if the person you talk is friendly and personable, remember, they work for the IRS. You could make one simple statement that could cause you problems.
If your liability is substantial and you need assistance, contact an Enrolled Agent, who can represent you before the IRS. What ever you do, do not ignore your situation. If you default you payment plan, the IRS can levy your bank accounts, retirement accounts and file a lien even if your tax liability is low. Call either the IRS or an Enrolled Agent before the IRS makes a bad financial situation even worse.
27 Eylül 2012 Perşembe
2012 Offshore Voluntary Disclosure Program
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ABA Tax Accounting | International Tax Services
The IRS began an open-ended offshore voluntary disclosure program (OVDP) in January 2012 on the heels of strong interest in the 2011 and 2009 programs. The IRS may end the 2012 program at any time in the future. The IRS is offering people with undisclosed income from offshore accounts another opportunity to get current with their tax returns. The 2012 OVDP has a higher penalty rate than the previous program but offers clear benefits to encourage taxpayers to disclose foreign accounts now rather than risk detection by the IRS and possible criminal prosecution.
Whether you need to structure an international transaction, reorganize your business, transfer family property or defer tax on the sale of assets, ABA Tax Accounting provides a wide array of services that cover every aspect of your business and personal finances. For a Free Consultation call or email:
The IRS began an open-ended offshore voluntary disclosure program (OVDP) in January 2012 on the heels of strong interest in the 2011 and 2009 programs. The IRS may end the 2012 program at any time in the future. The IRS is offering people with undisclosed income from offshore accounts another opportunity to get current with their tax returns. The 2012 OVDP has a higher penalty rate than the previous program but offers clear benefits to encourage taxpayers to disclose foreign accounts now rather than risk detection by the IRS and possible criminal prosecution.
Whether you need to structure an international transaction, reorganize your business, transfer family property or defer tax on the sale of assets, ABA Tax Accounting provides a wide array of services that cover every aspect of your business and personal finances. For a Free Consultation call or email:
Tax Strategies for Business Owners - Home Office Deduction
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ABA Tax Accounting | Small Business Accounting
The Home Office Deduction – Under the IRS rules, a taxpayer is allowed to deduct expenses related to business use of a home, but only if the space is used "exclusively" on a "regular basis". To qualify for a home office deduction you must meet one of the following requirements:
The exclusive-use test is satisfied if a specific portion of the taxpayer's home is used solely for business purposes or inventory storage. The regular-basis test is satisfied if the space is used on a continuing basis for business purposes. Incidental business use does not qualify.
In determining the principal place of business, the IRS considers two factors: Does the taxpayer spend more business-related time in the home office than anywhere else? Are the most significant revenue-generating activities performed in the home office? Both of these factors must be considered when determining the principal place of business. If you have any questions, don't hesitate to contact us for no obligation free consultation! ABA Tax Accounting
The Home Office Deduction – Under the IRS rules, a taxpayer is allowed to deduct expenses related to business use of a home, but only if the space is used "exclusively" on a "regular basis". To qualify for a home office deduction you must meet one of the following requirements:
- Exclusive and regular use as your principal place of business
- A place for meeting with clients or customers in the ordinary course of business
- A place for the taxpayer to perform administrative or management activities associated with the business, provided there is no other fixed location from which the taxpayer conducts a substantial amount of such administrative or management activities
The exclusive-use test is satisfied if a specific portion of the taxpayer's home is used solely for business purposes or inventory storage. The regular-basis test is satisfied if the space is used on a continuing basis for business purposes. Incidental business use does not qualify.
In determining the principal place of business, the IRS considers two factors: Does the taxpayer spend more business-related time in the home office than anywhere else? Are the most significant revenue-generating activities performed in the home office? Both of these factors must be considered when determining the principal place of business. If you have any questions, don't hesitate to contact us for no obligation free consultation! ABA Tax Accounting
Romney's 47% Comments Distance Him from Bush-Era Republicans
To contact us Click HERE
ABA Tax Accounting | Tax Services
Eleven years ago, eliminating income taxes for low-income Americans was an applause line for a Republican president. Mitt Romney in 2012 sees the number of people paying nothing as a political problem. To read the full story click here. For more info please contact us:
Eleven years ago, eliminating income taxes for low-income Americans was an applause line for a Republican president. Mitt Romney in 2012 sees the number of people paying nothing as a political problem. To read the full story click here. For more info please contact us:
QUICKBOOKS TIPS - Recording of Barter Exchanges
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ABA Tax Accounting | QuickBooks Accounting Services | St. Paul, MN Accounting Firm
If you have customers who are also vendors you may decide to trade some or all of your services / products in exchange for payment.
To record such a barter transaction, invoice the customer for the goods provided or services performed as you normally would. To record the "payment" use the "Receive Payment" function to apply the barter amount against the invoice the same as you would when receiving cash or a check as follows:
Go to Customers: Receive Payment. Payment Amount will be the barter amount (the amount of the invoice you received from your vendor). Pmt. Method will be Barter. Check the radio button for "Group with other undeposited funds". Save this transaction.
Go to Banking: Make Deposits. The payment you just received will come up in the Payments to Deposit screen. If there are also other payments to deposit, make sure you select only the payment(s) being recorded for the barter exchange. When you hit OK the Make Deposits screen will come up with the barter deposit(s) showing. Before recording the deposit make a negative deposit entry on the next blank line below the barter deposit for the amount of the barter as follows:
Deposit To be your normal operating checking account. Date is the date you would have normally paid your vendors invoice. Memo should be changed from Deposit to Barter.
If you have entered the vendors invoice as a bill for payment, Received From is the vendor name and From Account is Accounts Payable.
If you have not entered the vendors invoice as a bill for payment, leave Received From blank. In the From Account column select the expense account you would charge the vendors invoice to, the same as if you were entering it for payment. In the Memo column note the vendors invoice number.
In the Amount column enter the vendors invoice amount with a negative sign first. This negative amount should exactly offset the deposit amount above, resulting in a "Zero" deposit transaction. Save the "deposit" and the transaction is complete. For no obligation free consultation contact us today!
If you have customers who are also vendors you may decide to trade some or all of your services / products in exchange for payment.
To record such a barter transaction, invoice the customer for the goods provided or services performed as you normally would. To record the "payment" use the "Receive Payment" function to apply the barter amount against the invoice the same as you would when receiving cash or a check as follows:
Go to Customers: Receive Payment. Payment Amount will be the barter amount (the amount of the invoice you received from your vendor). Pmt. Method will be Barter. Check the radio button for "Group with other undeposited funds". Save this transaction.
Go to Banking: Make Deposits. The payment you just received will come up in the Payments to Deposit screen. If there are also other payments to deposit, make sure you select only the payment(s) being recorded for the barter exchange. When you hit OK the Make Deposits screen will come up with the barter deposit(s) showing. Before recording the deposit make a negative deposit entry on the next blank line below the barter deposit for the amount of the barter as follows:
Deposit To be your normal operating checking account. Date is the date you would have normally paid your vendors invoice. Memo should be changed from Deposit to Barter.
If you have entered the vendors invoice as a bill for payment, Received From is the vendor name and From Account is Accounts Payable.
If you have not entered the vendors invoice as a bill for payment, leave Received From blank. In the From Account column select the expense account you would charge the vendors invoice to, the same as if you were entering it for payment. In the Memo column note the vendors invoice number.
In the Amount column enter the vendors invoice amount with a negative sign first. This negative amount should exactly offset the deposit amount above, resulting in a "Zero" deposit transaction. Save the "deposit" and the transaction is complete. For no obligation free consultation contact us today!
Starting a Business
To contact us Click HERE
ABA Tax Accounting | Small Business Accounting | St. Paul, MN Accounting Firm
Small Business Accounting – Starting, Operating, or Closing a Business - Important tax information related to the various stages of owning a business. Starting a business could be exciting. If you're considering starting a business, please consult experienced professional that provides information on everything from a checklist for a new business, to selecting a business structure, and more. For no obligation free consultation contact us today!
Small Business Accounting – Starting, Operating, or Closing a Business - Important tax information related to the various stages of owning a business. Starting a business could be exciting. If you're considering starting a business, please consult experienced professional that provides information on everything from a checklist for a new business, to selecting a business structure, and more. For no obligation free consultation contact us today!
26 Eylül 2012 Çarşamba
U.S. Treasury, United Kingdom Sign Bilateral Agreement to Improve Tax Compliance, Combat Offshore Tax Evasion and Implement FATCA
To contact us Click HERE
ABA Tax Accounting | Expatriate Tax Services
EXPATRIATE TAX – The U.S. Department of the Treasury announced today that it has signed a bilateral agreement with the United Kingdom to implement the information reporting and withholding tax provisions commonly known as the Foreign Account Tax Compliance Act (FATCA). Enacted by Congress in 2010, these provisions target non-compliance by U.S. taxpayers using foreign accounts. The bilateral agreement signed this week is based on the model published in July of this year and developed in consultation with France, Germany, Italy, Spain, and the United Kingdom and marks an important step in establishing a common approach to combating tax evasion based on the automatic exchange of information. For free consultation contact us today.
EXPATRIATE TAX – The U.S. Department of the Treasury announced today that it has signed a bilateral agreement with the United Kingdom to implement the information reporting and withholding tax provisions commonly known as the Foreign Account Tax Compliance Act (FATCA). Enacted by Congress in 2010, these provisions target non-compliance by U.S. taxpayers using foreign accounts. The bilateral agreement signed this week is based on the model published in July of this year and developed in consultation with France, Germany, Italy, Spain, and the United Kingdom and marks an important step in establishing a common approach to combating tax evasion based on the automatic exchange of information. For free consultation contact us today.
Strategic Outsourcing: Lowers Costs, Improves Efficiency, and Reduces Risk.
To contact us Click HERE
ABA Tax Accounting | Domestic Outsourcing
In a rapidly changing world, forward-thinking CFOs and managers are looking for innovative strategies and creative collaborations to keep their businesses thriving. More and more, they are turning to third party experts like ABA Tax Accounting for strategic outsourcing of their behind-the-scenes business processing as a way to streamline operations and reduce costs and risk. For more info or to explore possibilities please contact us today.
In a rapidly changing world, forward-thinking CFOs and managers are looking for innovative strategies and creative collaborations to keep their businesses thriving. More and more, they are turning to third party experts like ABA Tax Accounting for strategic outsourcing of their behind-the-scenes business processing as a way to streamline operations and reduce costs and risk. For more info or to explore possibilities please contact us today.
Romney's 47% Comments Distance Him from Bush-Era Republicans
To contact us Click HERE
ABA Tax Accounting | Tax Services
Eleven years ago, eliminating income taxes for low-income Americans was an applause line for a Republican president. Mitt Romney in 2012 sees the number of people paying nothing as a political problem. To read the full story click here. For more info please contact us:
Eleven years ago, eliminating income taxes for low-income Americans was an applause line for a Republican president. Mitt Romney in 2012 sees the number of people paying nothing as a political problem. To read the full story click here. For more info please contact us:
ABA Tax Accounting | QuickBooks Point of Sale | St. Paul, MN Accounting Firm
To contact us Click HERE
ABA Tax Accounting | QuickBooks Point of Sale
QuickBooks Point of Sale provides sales, inventory and customer information that helps you understand your business so you can make better decisions.
QuickBooks Point of Sale 2013 gives you detailed sales and inventory reports that let you know what is selling and what is not. You can also keep track of your customers' shopping history so you can delight them with personalized service and rewards.
NEW Point of Sale now includes a mobile feature that lets you accept credit and debit cards on your mobile phone or tablet-all mobile sales and inventory information syncs with your software keeping your records accurate and up-to-date.
And, Point of Sale is designed to be easy to set up so most retailers can start using the software the same day. For no obligation free consultation contact us today!
QuickBooks Point of Sale provides sales, inventory and customer information that helps you understand your business so you can make better decisions.
QuickBooks Point of Sale 2013 gives you detailed sales and inventory reports that let you know what is selling and what is not. You can also keep track of your customers' shopping history so you can delight them with personalized service and rewards.
NEW Point of Sale now includes a mobile feature that lets you accept credit and debit cards on your mobile phone or tablet-all mobile sales and inventory information syncs with your software keeping your records accurate and up-to-date.
And, Point of Sale is designed to be easy to set up so most retailers can start using the software the same day. For no obligation free consultation contact us today!
U.S. Senate: Transfer pricing, other tax strategies lead to avoidance
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Microsoft, HP skirted taxes via offshore units: U.S. Senate panel | Reuters
Members of the U.S. Senate's Permanent Subcommittee on Investigations questioned transfer pricing used by large companies, including Hewlett-Packard, Google, Apple and Microsoft, to avoid taxes. Sen. Carl Levin called the strategy "gimmicks and charades," but the companies defended the practice as legal. For free consultation contact us today.
Members of the U.S. Senate's Permanent Subcommittee on Investigations questioned transfer pricing used by large companies, including Hewlett-Packard, Google, Apple and Microsoft, to avoid taxes. Sen. Carl Levin called the strategy "gimmicks and charades," but the companies defended the practice as legal. For free consultation contact us today.
25 Eylül 2012 Salı
QuickBooks Online Goes Global
To contact us Click HERE
ABA Tax Accounting | QuickBooks Accounting Services
QuickBooks Accounting - Intuit has confirmed that its QuickBooks Online has gone global through multi-language and multi-currency features that will allow businesses and accounting firms in any country to utilize the product.
As an Authorized QuickBooks Affiliate, you may access QuickBooks' products website directly from ABA Tax Accounting's website. When you place orders for QuickBooks software or programs through our website, you will receive the same discounts as our Pro Advisors with all the conveniences of ordering directly from QuickBooks.
Furthermore, our in house QuickBooks Pro Advisors provide the opportunity for year round training to clients. Having both Affiliate and Pro Advisor status keeps us current with all the QuickBooks products and updates. For no obligation free consultation contact us today!
QuickBooks Accounting - Intuit has confirmed that its QuickBooks Online has gone global through multi-language and multi-currency features that will allow businesses and accounting firms in any country to utilize the product.
As an Authorized QuickBooks Affiliate, you may access QuickBooks' products website directly from ABA Tax Accounting's website. When you place orders for QuickBooks software or programs through our website, you will receive the same discounts as our Pro Advisors with all the conveniences of ordering directly from QuickBooks.
Furthermore, our in house QuickBooks Pro Advisors provide the opportunity for year round training to clients. Having both Affiliate and Pro Advisor status keeps us current with all the QuickBooks products and updates. For no obligation free consultation contact us today!
Romney's 47% Comments Distance Him from Bush-Era Republicans
To contact us Click HERE
ABA Tax Accounting | Tax Services
Eleven years ago, eliminating income taxes for low-income Americans was an applause line for a Republican president. Mitt Romney in 2012 sees the number of people paying nothing as a political problem. To read the full story click here. For more info please contact us:
Eleven years ago, eliminating income taxes for low-income Americans was an applause line for a Republican president. Mitt Romney in 2012 sees the number of people paying nothing as a political problem. To read the full story click here. For more info please contact us:
Romney Releases 2011 Tax Return
To contact us Click HERE
ABA Tax Accounting | Tax Planning | St. Paul, MN Accounting Firm
Mitt Romney released his 2011 tax return this afternoon, which revealed that the Republican presidential candidate paid taxes of $1,935,708 on $13.7 million in income, mostly from investments, giving him an effective tax rate of 14.1 percent. To Read More... click the link. For more info please contact us:
Mitt Romney released his 2011 tax return this afternoon, which revealed that the Republican presidential candidate paid taxes of $1,935,708 on $13.7 million in income, mostly from investments, giving him an effective tax rate of 14.1 percent. To Read More... click the link. For more info please contact us:
Domestic Outsourcing Lowers Costs, Improves Efficiency, and Reduces Risk.
To contact us Click HERE
ABA Tax Accounting | Domestic Outsourcing
ABA Tax Accounting provides customized, high-quality and cost effective outsourcing solutions for Accountants / CPA firms as well as other small, medium, large businesses, non-profit organizations, and federal, state, local governments who do not want to have a large in-house accounting team. Our aim is to reduce the burden of “behind the scene" functions of businesses so that they can focus on their core revenue generating roles. For more info or to explore possibilities please contact us today.ABA Tax Accounting
ABA Tax Accounting provides customized, high-quality and cost effective outsourcing solutions for Accountants / CPA firms as well as other small, medium, large businesses, non-profit organizations, and federal, state, local governments who do not want to have a large in-house accounting team. Our aim is to reduce the burden of “behind the scene" functions of businesses so that they can focus on their core revenue generating roles. For more info or to explore possibilities please contact us today.ABA Tax Accounting
Help! What If I Can't Make My IRS Payment?
To contact us Click HERE
If you are one of thousands of taxpayers who are in a payment plan with the IRS, but due to current economic conditions cannot make your payment, you have options. If you have lost your job and your entire financial situation has changed, you need to contact the IRS and be prepared to lay out your new situation. If you expenses have not changed and your income is all that has changed, you may just need proof (like a termination letter) you no longer have a job.
If your expenses have changed as well, you may need to provide proof of those changes as well. When you talk to the IRS, only say what has happened and answer honestly and completely any questions they may ask. Do not volunteer information, except to briefly explain your situation. Don't get chatty, even if the person you talk is friendly and personable, remember, they work for the IRS. You could make one simple statement that could cause you problems.
If your liability is substantial and you need assistance, contact an Enrolled Agent, who can represent you before the IRS. What ever you do, do not ignore your situation. If you default you payment plan, the IRS can levy your bank accounts, retirement accounts and file a lien even if your tax liability is low. Call either the IRS or an Enrolled Agent before the IRS makes a bad financial situation even worse.
If you are one of thousands of taxpayers who are in a payment plan with the IRS, but due to current economic conditions cannot make your payment, you have options. If you have lost your job and your entire financial situation has changed, you need to contact the IRS and be prepared to lay out your new situation. If you expenses have not changed and your income is all that has changed, you may just need proof (like a termination letter) you no longer have a job.
If your expenses have changed as well, you may need to provide proof of those changes as well. When you talk to the IRS, only say what has happened and answer honestly and completely any questions they may ask. Do not volunteer information, except to briefly explain your situation. Don't get chatty, even if the person you talk is friendly and personable, remember, they work for the IRS. You could make one simple statement that could cause you problems.
If your liability is substantial and you need assistance, contact an Enrolled Agent, who can represent you before the IRS. What ever you do, do not ignore your situation. If you default you payment plan, the IRS can levy your bank accounts, retirement accounts and file a lien even if your tax liability is low. Call either the IRS or an Enrolled Agent before the IRS makes a bad financial situation even worse.
23 Eylül 2012 Pazar
Tax Strategies for Business Owners - Home Office Deduction
ABA Tax Accounting | Small Business Accounting
The Home Office Deduction – Under the IRS rules, a taxpayer is allowed to deduct expenses related to business use of a home, but only if the space is used "exclusively" on a "regular basis". To qualify for a home office deduction you must meet one of the following requirements:
The exclusive-use test is satisfied if a specific portion of the taxpayer's home is used solely for business purposes or inventory storage. The regular-basis test is satisfied if the space is used on a continuing basis for business purposes. Incidental business use does not qualify.
In determining the principal place of business, the IRS considers two factors: Does the taxpayer spend more business-related time in the home office than anywhere else? Are the most significant revenue-generating activities performed in the home office? Both of these factors must be considered when determining the principal place of business. If you have any questions, don't hesitate to contact us for no obligation free consultation! ABA Tax Accounting
The Home Office Deduction – Under the IRS rules, a taxpayer is allowed to deduct expenses related to business use of a home, but only if the space is used "exclusively" on a "regular basis". To qualify for a home office deduction you must meet one of the following requirements:
- Exclusive and regular use as your principal place of business
- A place for meeting with clients or customers in the ordinary course of business
- A place for the taxpayer to perform administrative or management activities associated with the business, provided there is no other fixed location from which the taxpayer conducts a substantial amount of such administrative or management activities
The exclusive-use test is satisfied if a specific portion of the taxpayer's home is used solely for business purposes or inventory storage. The regular-basis test is satisfied if the space is used on a continuing basis for business purposes. Incidental business use does not qualify.
In determining the principal place of business, the IRS considers two factors: Does the taxpayer spend more business-related time in the home office than anywhere else? Are the most significant revenue-generating activities performed in the home office? Both of these factors must be considered when determining the principal place of business. If you have any questions, don't hesitate to contact us for no obligation free consultation! ABA Tax Accounting
U.S. Treasury, United Kingdom Sign Bilateral Agreement to Improve Tax Compliance, Combat Offshore Tax Evasion and Implement FATCA
ABA Tax Accounting | Expatriate Tax Services
EXPATRIATE TAX – The U.S. Department of the Treasury announced today that it has signed a bilateral agreement with the United Kingdom to implement the information reporting and withholding tax provisions commonly known as the Foreign Account Tax Compliance Act (FATCA). Enacted by Congress in 2010, these provisions target non-compliance by U.S. taxpayers using foreign accounts. The bilateral agreement signed this week is based on the model published in July of this year and developed in consultation with France, Germany, Italy, Spain, and the United Kingdom and marks an important step in establishing a common approach to combating tax evasion based on the automatic exchange of information. For free consultation contact us today.
EXPATRIATE TAX – The U.S. Department of the Treasury announced today that it has signed a bilateral agreement with the United Kingdom to implement the information reporting and withholding tax provisions commonly known as the Foreign Account Tax Compliance Act (FATCA). Enacted by Congress in 2010, these provisions target non-compliance by U.S. taxpayers using foreign accounts. The bilateral agreement signed this week is based on the model published in July of this year and developed in consultation with France, Germany, Italy, Spain, and the United Kingdom and marks an important step in establishing a common approach to combating tax evasion based on the automatic exchange of information. For free consultation contact us today.
Strategic Outsourcing: Lowers Costs, Improves Efficiency, and Reduces Risk.
ABA Tax Accounting | Domestic Outsourcing
In a rapidly changing world, forward-thinking CFOs and managers are looking for innovative strategies and creative collaborations to keep their businesses thriving. More and more, they are turning to third party experts like ABA Tax Accounting for strategic outsourcing of their behind-the-scenes business processing as a way to streamline operations and reduce costs and risk. For more info or to explore possibilities please contact us today.
In a rapidly changing world, forward-thinking CFOs and managers are looking for innovative strategies and creative collaborations to keep their businesses thriving. More and more, they are turning to third party experts like ABA Tax Accounting for strategic outsourcing of their behind-the-scenes business processing as a way to streamline operations and reduce costs and risk. For more info or to explore possibilities please contact us today.
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