To avoid the stress of having to deal with the IRS, come to the experts – our Tax Attorneys. We will guide you every step of the way to keep you tax documents filed on time and taxes paid on time.
Many tax problems are caused by bad advice or misunderstanding. If you had proper tax information, you could avoid some common mistakes and problems. Our tax attorneys will prepare your tax forms and information to reduce the possibility of mistakes. You don’t have to be a tax expert. Even people with no special tax knowledge have filed taxes successfully. For our qualified tax information, please contact us.
Filing Tax Returns (You have to file each year, even if you did not earn any income.)
If you are not sure where to start in filing a tax return, it is best to look at all your tax information first.
If you don’t file your taxes, or if you don’t have all of your tax documents, it is very easy to file the wrong returns. If you made a business expense and are not sure whether it was correctly deducted, this is when you need to look carefully at your returns.
Some items have multiple uses. For example, when you write off a car, you can write off the business costs, such as depreciation, as well as personal costs, such as gasoline. Check all of your expenses for multiple deductibility.
Filing tax returns – when to file. (For most tax years, you must file a return by April 15.)
There is a short waiting period between April 15 and the first of the month. From that first to the 15th is a short waiting period, then a long waiting period, then you can file for extensions.
Filing for an extension is fairly easy, and we can do it for you. Our team is ready to provide you with an extension at any time.
To get started, call us now and we’ll provide you with all of your tax information for the year (we have done it for more than 8,000 clients).
What are you doing on April 15?
Here’s a guide to why the tax system is confusing.
January 15 – This is the beginning of the new tax year, and also the deadline for filing new taxes (i.e. for a refund).
April 15 – This is the deadline for filing all income and expense information, including wages and benefits.
Business Tax (including Corporation tax)
Here’s what to do with all your business receipts and invoices – and how much you’ll get back.
Receipts
Each invoice must be matched to a receipt, using either the product or invoice number.
Tax Receipts
Receipts are receipts issued by your business or a third-party for tax purposes. For example, receipts issued by an accountant to a client for business and/or income tax purposes are considered receipts.
Tax Expense
Business expenses are those that you incur for the purpose of your business. They include things such as wages paid to employees, materials or repairs, advertising, and so on.
Business Expenses
Business expenses are those that you incur for the purpose of your business. They include things such as wages paid to employees, materials or repairs, advertising, and so on.
Corporation Tax
Most of us receive a tax return from the government at the end of the financial year.
Corporation Tax Return
Most of us receive a tax return from the government at the end of the financial year. The money is paid at the end of the year, and is called the Corporation Tax Return. In a few cases, the money is taken out of your company’s bank account and paid at the end of the year.
Deductions
Deductions are the tax-deductible amounts you have to pay. Most businesses will have expenses that you can deduct from your taxable income. They include wages and benefits paid to employees, materials used in a business, and repairs to equipment.
Taxable Income
A company’s taxable income is the total of its income and its deductions.
Income
Income is money that you earn through a job or business. Most businesses pay you income for work that you do.
Income Tax
Income tax is the tax you have to pay on your income, and the amount you pay depends on your personal circumstances and the tax rate in your State or Territory. Income tax rates vary between different States and Territories.
Liabilities
A liability is anything that you have to pay. Most businesses have debts and loan repayments that have to be paid in cash.
Non-Deductible Income
Your non-deductible income is money that you have to pay that is not a tax deduction. This includes things such as the cost of your food and accommodation, money that you pay out of pocket on something you buy for your business, and so on.
Partnership
A partnership is when a number of individuals or companies work together and share the money they make. For example, a plumber and an architect might have their own businesses. If they work together and share the profit they make from providing plumbing and architectural services, they are partners.
Shares
Shares are when you or your business (the company you own) sells part of your company to another person or company. This is called being issued shares. For example, you could sell your business and split your shares with your partner.
Capital Gains
Capital gains is the money you make when you sell something that you have owned for more than 12 months. Capital gains are taxed at a different rate to normal income.
Repayments of Debt
The money that you pay to your bank to use your credit card is called interest. Repayments of debt are when you pay more than the interest and make a profit.
Tax Rate
Tax rates are the rates at which you pay tax. Most tax rates are based on your income.
Tax Rate Changes
The Tax Office changes the rate of tax that you pay for certain types of income. This is called making a tax rate change. You need to know when the Tax Office is going to change the tax rate so that you can plan how much money you will need to spend and save.
The top rate is based on your total income. The bottom rate is called the basic rate. The basic rate is the rate of tax that you pay on your income that is up to $180,000.
For specific questions please Call (888)489-4889 for a free tax consultation.