The Tax Preparation Blog

Archive for June, 2008

Enseco Energy Services Corp. Announces a United States Directional Drilling Acquisition

CALGARY, ALBERTA–(Marketwire – Jan. 13, 2010) – Enseco Energy Services Corp. (“Enseco” or the “Company”) (TSX VENTURE:ENS) is pleased to announce the Company has signed a definitive agreement to acquire the assets (the “Directional Drilling Assets”) of a private directional services company (the “Private Company”) with operations primarily in the United States (the “Acquisition”). The payment …

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Liberty proves taxes can be fun

This isn’t a typical “waving” job, either. Scruggs hired 15 but had 35-40 apply. Everyone who applied knew they had to wear the costume, which is the company’s logo, had to pass a physical test and show some personality doing it.

Obama, Why So Socialist?

Question: If I incorporate my foreign business in Delaware, can I remit all online payments outside the U.S.?

I plan to incorporate in Delaware, but will operate my business outside the U.S. I want to incorporate in Delaware to be able to use a U.S. merchant account, which means all online payments will pass through a U.S. bank account before being remitted outside the country. Does passing the payment through Delaware make the company subject to tax? If I bill the Delaware company and that company makes no profits, the tax issue is averted?

Answer: yes.
yes.

Excise tax on ‘Cadillac’ health-care plans is a bad idea

The idea of an excise tax on “Cadillac” health-care plans sounds like magic. It would raise almost $150 billion over 10 years to help finance health-care “reform”; it would be paid by employers, insurance companies and “the rich”; it would help “bend the cost curve” in the future; and for all I know, it might help regrow hair and cure warts.

How to Complete and File a 1040A Tax Form : 1040A Tax Payment Tips

Question: What legal issues or taxes issues implies, if I get a huge deposit on my U.S. Checking account?

What legal issues or taxes issues implies, if I get a huge deposit on my U.S. Checking account, if my average for the last 5 years have been really low. All this for me been a foreing person, not US Citizen. And the money comming from a well known bank in the US.

Answer: There is no tax issue related to making a bank deposit. But where you got the money determines whether there will be taxes or legal issues.

For example, if someone gives you $5,000 as a gift, you do not owe any taxes because gifts aren’t taxable. But if you get a $20,000 bonus from your job, you will owe income tax because wages are subject to income tax.

If the deposit is in cash, there will be forms to fill out if the amount is over $10,000. If the deposit is by check or bank transfer, there are no forms.

Corporate/Company Law

The Enviroco case will be of interest to banks’ in-house lawyers, credit policy teams and credit documenters dealing with security issues.

McCain: NBC 10/26/08 Part 2 of 4

Question: Where can I find a letter that helps me solicite business for tax preparation?

Answer: Why a letter – why not an ad for the local paper or magazine – in the long run it would be cheaper and more prospective customers would see it!@ You can go to the local library and they have a book that list most business form letters – hope this helps!@

Claims of nearly $400,000 filed on ex-mayor’s estate

Mayor Frank Melton left no will dividing his estate when he died in office last May, but he did leave a number of people who claim he owed them money.

Got IRS letter about late 2007 tax return?