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Tax Credits for Employers Hiring Veterans by Dec 31

Leave a comment News, Tax Credit, Veterans Benefts

IRS Urges Employers to Hire Veterans by Dec. 31, Save on Taxes

Employers looking to hire sometime soon are urged to consider hiring veterans. Such hiring may entitle the employer to claim the federal Work Opportunity Tax Credit worth thousands of dollars. Employer must however act soon…the WOTC is available to employers that hire qualified veterans before the new year.

Some key facts about the WOTC include:

1. Hiring Deadline. To qualify for the WOTC, Employers must hire qualified veterans before Jan. 1, 2014. Though the credit was previously set to expire at the end of 2012, the American Taxpayer Relief Act of 2012 extended it for one year.

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Disappearing Deductions

Leave a comment Deductions, Form 1040, Income, News

Disappearing Deductions
As tax planning for the oncoming year 2014 get into full swing, it may be helpful to highlight some of the popular deductions that are currently slated to become unavailable to taxpayers by year-end. Of course, your New York Tax Attorney can give you fuller details and tell you how each of the deductions specifically apply to you.

1. A $250 deduction available to taxpayers, for expenses related to their jobs, is currently set to expire by December 31, 2013.

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IRS Fast Track Settlement Program

Leave a comment Appeals, Audit, Business Expenses, Civil Liabilities, Deductions, Fast Track Settlement Program, News, Ordinary and Necessary Expenses

Yesterday, November 6, 2013, the IRS expanded nationwide, its streamlined Fast Track Settlement program (FTS), which aims to help small businesses and self-employed individuals under audit settle their differences with the IRS over their tax debts more quickly. The Fast Track Settlement program is designed to help small businesses and self-employed individuals who are under examination by the IRS.

The FTS program uses alternative dispute resolution techniques to help taxpayers save time and avoid a formal administrative appeal or lengthy litigation. As a result, your New York Tax Lawyer can resolve audit issues within 60 days, rather than months or years that it otherwise may take. Taxpayers nonetheless retain all of their rights to appeal even if they take advantage of the FTS program and they are not pleased with the outcome.

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How to Locate the NYC Tax Attorney

Leave a comment Audit, Deductions, Income, News, Taxable Income

When you have identified the need to see a NYC tax attorney, the second step is to find him. If you have never used the services of any such lawyer, you might be at a loss on how to actually get access to one. There are several avenues from which you just might get the professional that you seeking.

Ordinarily, you may have been in contact or heard of someone who had taxation problems. When you get direction from one who has had an experience with a particular lawyer, you are better placed to know the strong and weak points he has. This will help you make an informed choice. The one on one account of the way the client was handled is an indicator of the kind of treatment you can expect as well.

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The importance of a New York City Tax Attorney

Leave a comment Appeals, Audit, Income, News, Taxable Income

A lot of the people I have met never really understood the roles that a New York City Tax Attorney could play in their lives till they had a need for one. Taxation problems are usually complex and an ordinary citizen might need to be helped to understand them by a professional. Thus, a competent New York tax attorney definitely has sound knowledge of what the laws say about paying taxes. This will enable him to effectively guide his clients on problems they have with revenue agencies.

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The Benefits of Hiring A New York City Tax Attorney

Leave a comment Appeals, Audit, Income, News, Ordinary and Necessary Expenses, Representation

Facing taxation problems is not at all uncommon for the American population. It is not at all surprising, given the complexity of the economic system of the United States, which is a leading superpower in the whole world. Economic opportunities abound and one such opportunity is the availability of multiple jobs for its citizens. This, of course, is by itself good. Except that for many individuals, holding multiple jobs and thereby having a multiple source of income can get to be a headache when it comes to taxation. Some barely have enough time for fulfilling their work obligations, and it is such a real trouble when the IRS runs after them for unintentional tax miscalculations.

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How Can A New York Tax Lawyer Help You?

Leave a comment Audit, Business Expenses, News, Representation

Just recently, an entertainment company in New York that is in the business of distributing TV shows throughout the state and the country was involved in a tax case before the state’s highest court. This stemmed from the said company’s charging of sales tax from its customers who lease their satellite dish, which is needed to receive signals for TV shows, for a monthly fee. After four years of operating the business, state auditors found out that the company have committed violations of the state’s tax laws. State auditors argued that the company’s parent company should have paid sales tax for acquiring the satellite dishes, but it did not and instead passed the sales tax payment to its customers. The case is still pending with the state’s Court of Appeals.

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Getting Help from A Tax Lawyer in New York

Leave a comment Appeals, Audit, Business Expenses, Income, News, Representation, Taxable Income

Ascertaining taxes that are due to be paid is not a simple job. This is especially true if the taxpayer concerned has multiple sources of income at hand. The fact is that having multiple sources of income is the current trend in our economy, and this in turn can be attributed to the revolutionizing effect of technology to the society in general and the economy in particular.

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Tips to Start Planning Next Year’s Returns

Leave a comment Audit, Business Expenses, Income, News, Taxable Income

Tips
to Start Planning Next Year’s Tax Return

It’s certainly not too early to begin planning for next year’s tax return. Though, for most taxpayers, the deadline for this year has just recently passed, the countdown for next year has already begun.  Planning for next year should start now. The
earlier you begin preparing for the next tax filing season, the better prepared you will be, maximizing your deductions and tax credits. Being organized and planning ahead also will save time and money in 2014. Here are six things you can do now to make next April 15 easier.

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Considerations in choosing a NYC Tax Attorney

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When people come to see me as a NYC Tax Attorney, they may sometimes ignore certain qualities they ought to look out for. It should be known that there are some qualities that people need to establish in the lawyer they go to for these services. The first thing that you need to ask is whether the professional is a member of the state bar. This will be a pointer of whether the professional you have your eyes on is qualified or not.

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