Tax

California Corporate Reinstatement Our clients constantly come to us with two main questions: “Why am I suspended with the Franchise Tax Board?” And “How do I revive my business?” When a California business is suspended, the entity has lost all its rights and privileges and cannot legally operate until the corporation or LLC has been reinstated. During this suspension period, the entity is required to close its doors and stop all business related activity. In order to once again achieve good…

March 22, 1765, that it is a great idea to tax all of our paper products that we buy from England. It finally started on November 1, 1765. This tax money is going to be used to help pay for defending us in the colonies. This is not right because they did not have approval from colonial legislatures. The problem is, we are only allowed to buy products from England. I have decided that my family needs to have a discussion about this. “This is an unfair tax that needs to stop. If the Parliament…

For tax year 2000, US taxpayer J. Bryan Williams, who had an interest in and control over his two Swiss bank accounts, failed to mark “yes” to a tax return question regarding his existing foreign bank accounts, and did not file the Report of Foreign Bank and Financial Accounts (also known as “FBAR”) by June 30, 2001, deadline. The question that arose was whether Defendant J. Bryan Williams willfully failed to report his interest in his two Swiss bank accounts for the tax year 2000. Based upon…

hope is tax breaks, for example, say you pay 100,000 dollars for a house, say you pay 1 thousand dollars a month, your taxes can decrease a little bit, but say a rich person buys a house for the same price and pay the same amount per month, he gets a bigger tax break than you would and that is unfair to the middle class. My last hope for America, better veteran appreciation.…

limitations set by current government tax laws. The Roth IRA…

government revenue as taxes were cut tremendously. From the end of 2007 to 2009, real tax receipts had fallen by over 15 percent and in the third quarter of 2009, tax receipts only financed 62 percent, the lowest shares since World War II. In 2012, the U.S. government raised 24 percent of the GDP in tax revenue, a percentage lower than many countries, including Japan, Canada, France, and Sweden. So what source of tax revenue has raised the most amount of money? Historically, personal income…

“Mother, why are all our neighbors complaining about stamps?” asked Ansel. “Great Britain has placed a tax on us, called the Stamp Act of 1765. It makes all people have to have a certain stamp from the British on all of their papers.” explained Mother. “How come Father doesn’t have stamps on his papers?” “Because he is openly boycotting the Stamp Act.” “Father, why do you not like this tax?” “This tax is violating our rights. It says in the English Bill of Rights that we are to be represented…

In the book, Winner-Take-All Politics, the authors Jacob S. Hacker and Paul Pierson take a look at how over the last half a century the economy of the United States has become skewed to benefit the richest of the rich in the country. They treat the problem as if they were solving a crime, referring to the information and data they collect as DNA evidence or clues, and run through a list of prime suspects (13). They describe how others have interpreted the facts, and come up with different…

The contributions towards nonprofits from individuals and businesses have been a critical factor to why thousands of organizations exist to this day. The tax regulations that the United States has created in relation to charitable deductions allows for all of these individuals and businesses to deduct the contributions that essentially reduces their taxable income. As we work to understand charitable contributions and the effect it has on the government, some basic information will be reviewed…

savings plan called a 401K. This plan allowed employees to invest their hard-earned monies in a retirement account on a pre-tax basis. The only caveat was they had to keep their monies in said account until the age of 59 1/2 to avoid an early withdrawal penalty. Understanding Complicated 401K Withdrawal Rules After 40…