WHAT BUSINESSES NEED TO KNOW ABOUT THE TAX TREATMENT OF BITCOIN AND OTHER VIRTUAL CURRENCIES Over the last several years, virtual currency has become increasingly popular. Bitcoin is the most widely recognized form of virtual currency, also commonly referred to as...
Innovative Strategies For Winning Tax Controversies, Business Structuring And Estate Planning
income taxes
European and State Governments Squeezing Businesses for tax Dollars!
European governments are attacking American businesses trying to get as much tax money as possible. The latest leader in this witchhunt is France. They are not only going after companies for large civil taxes but they are at going after the businesses and the...
Hillary Clinton Proposes Tax Increases
Here we go again! It is campaign season and some candidates just cannot wait to say how they are going to penalize business. Hillary Clinton is proposing a new scheme where businesses that manufactured things will be tax differently than businesses that are “trading”...
No W-2 – You can still file your 1040
IRS Issues Annual Advice on Missing Form W-2’s Each year, the IRS issues annual advice on actions a taxpayer should take when the taxpayer has not received his or her Form W-2. IRS Website (2/8/13). According to the IRS, if a taxpayer has not received his or her Form...
Employers – are you stuck with “Obamacare
EMPLOYERS – ARE YOU STUCK WITH “OBAMACARE” Obamacare is a disaster for employers that have low wage employees. Frankly, many companies will need to change how they conduct business in order to stay competitive. Number of Employees Does your business have emough...
What will the Fiscal Cliff Do to Income Taxes?
On January 1, 2013 income tax rates are set to dramatically increase. Taxes on wages, investment interest, and other types of ordinary income, the top rates will rise from 35% to 39.6%. In addition, the 3.8% Obamacare Medicare surtax will start January 1, 2013. The...
Trick or Treat Obama Style
As unemployment climbs to new highs, President Obama is claiming credit for 640k new jobs “created” be spending taxpayer’s money. The $1 trillion dollar stimulus went to big banks and union industries that are rapidly lowering their workforces and eliminating jobs....
Credit Card Payments Reported to IRS
Payment Card Reporting. Under new Code Section 6050W, a business client who accepts payment cards will receive annual statements from the banks or other organizations issuing the cards showing the gross amount of card payments made to the client. The bank or other...
Taxes are Killing the Economy
Taxes are Killing the Economy The Stock Market has rallied since March 10. Is this a short term improvement in a Bear Market? Unless we see some positive progress in the real economy, the stock market cannot sustain the upward movement. The economy is lousy with...
