Damage and Theft Related Tax Claims

Damage and Theft Related Tax Claims

When you go through a loss of property, whether through theft or natural disaster, the first thing you think of may not be the ability to use the lost property…

Understand Your Retirement Plan

Understand Your Retirement Plan

Retirement is one of the most feared times of life especially when there are no plans laid down. Today, the government pension cannot be totally counted on for the best…

Who should pick C Corporation?

Who should pick C Corporation?

This is a very common question asked by our readers. Who should use a C Corporation as a business entity? You should pick a C Corporation if you: Have noncitizen…

IRS Wins Foreign Account Case Over Former Mobil Senior Executive

IRS Wins Foreign Account Case Over Former Mobil Senior Executive

IRS (Internal Revenue Service) has achieved a great victory over the former Mobil senior executive Bryan Williams. He was alleged in a case of offshore tax evasion. He concealed foreign…

How Tax Shelters Help To Reduce Tax Burden?

How Tax Shelters Help To Reduce Tax Burden?

Tax shelter is a great way of reducing tax. It can effectively reduce your tax burden to the IRS (Internal Revenue Service). But tax shelters can turn to be a…

Understanding Self Employment Tax

Understanding Self Employment Tax

The word tax never fails to not to scare us right? No matter however much money we are paying to the government as tax it seems that when ever it’s…

Top 3 Deductions for Self Employed | Infographics

Top 3 Deductions for Self Employed | Infographics

Self employed individuals can also take advantage of many tax breaks.  Here are the three most popular tax breaks that can help you reduce your tax bill.  Do you have…

All You Wanted to Know About Medicare Tax

All You Wanted to Know About Medicare Tax

Medicare tax is quite popular in theUS. Like land tax and service tax, Medicare tax is imposed on earning/ wage / salary of an employee or a self employed individual….

July News Letter | Tax Tips

July News Letter | Tax Tips

  July/2012 Tax Tips From Sanjiv Gupta CPA I am back from India.  It was a fun trip but as always it was short. It was great pleasure to see…

Obama’s Health Care Plan and Tax Deductions

Obama’s Health Care Plan and Tax Deductions

As many of you may know that starting 2014 Obama’s healthcare plan will kick in that may allow low income families to enroll in qualified health care plan and claim…