The Tax Preparation Blog

Posts Tagged ‘refunds’

Question: Finding an accountant and ideas for investing?

I was wanting to know, I have inherited a bit of money from a relative who recently passed away. I won’t go into all the details but was thinking I should find an accountant to get some advice on things like tax, investment etc.

I guess the first thing I wanted to know was where and what do I look for when searching for an accountant. I have heard some articles say that private banking sectors might be able to suggest some names but I was wondering if there are any sites or any cirriculum I should look for when trying to choose one. Also I should point out I live in Brisbane, Australia.

Additionally when it comes to other areas what else should I look out for? Like for example finding a financial planner, getting financial advice, tax issues. etc.

Thanks for any help people can give me.

Answer: Dear Friend….

I think you should try your hands in FX market. this will fetch good returns and will provide tax shield to your investment.

Dont look for any Accountants but try some forex broker. I have not worked with much brokers online as most of them are found to be scam. From past 2 years i am using Finexo. It is providing this facility to trade with multiple exchange and allows margin to be deposited in Euro or USD, I am quite satisfied with its services. there are many attractive features of finexo like morning analysis, chart patterns, glossary, trading techniques etc which has make me earn much more than i expected.

My account is very well managed by the account managers and i have no complaints about E-billing, cash recipts etc. thought there are some features which should get improved but still i found this better than any other dealer.

WCC2010: Tax incentives needed to push entrepreneurial freedom

Taxation incentives from the Federal Government are required to boost local entrepreneurial activity in the technology industry, according to Wotif.com founder and executive director, Graeme Wood.

Gary Wilson (Tax Accountant) – February 2009

Question: IRS AMENDED RETURN THEN AUDIT LETTER NEXT DAY?

I HAD THE IRS HOLD MOST OF MY MONEY SAYING I HAD TO FILE AN AMENDED RETURN BECAUSE I FORGOT A W2 THAT I WAS WAITNG ON BUT I DID GET SOME OF IT.I FILED AN AMENDED RETURN YESTERDAY AND TODAY I RECEIVED A LETTER ABOUT A AUDIT AND A QUESTIONAIRE FORM ABOUT MY EIC.MY QUESTION IS IF THE AUDIT FORM WAS SENT OFF THE SAME DAY AS A FILED THE AMENDMENT SHOULD I STILL SEND THE FORM BACK OR SHOULD I FORGET ABOUT IT SINCE I AMENDED YESTERDAY AND THE IRS HAVEN’T RECEVIED MY AMENDED PAPERS YET SINCE I HAD TO HAND SEND THEM AND NOT EFILE.?
I received the letter today because yesterday was a holiday so it has me really confused on what all would be the right steps to take.

Answer: NEVER just ignore a form from the IRS, you could end up giving up your rights to contest whatever they are asking about. Send back the form, noting that you have filed an amendment for a missing W-2.

Study shows majority of Texas companies given taxpayer money to create jobs failed to meet goals

In a study released Wednesday, the progressive watchdog group Texans for Public Justice compared Texas Enterprise Fund contracts to compliance reports that were filed in the governor’s office in 2009. Of the 50 companies that were given a combined $368 million to create or maintain 49,581 jobs by the end of last year, six were terminated, 13 failed to meet promises and 14 were amended to lower …

Daniel Ahart Tax Service, Atlanta, GA

Question: Is there a place to get taxes done cheaply?

My friend was ill most of last year and did not do her taxes. Now, she received a bill from the IRS. She’s doing better, but still not completely on her feet so she needs some inexpensive help with her tax preparation. She lives in San Jose, Ca. Is there any organization that offers inexpensive tax help? Thanks you!

Answer: Try and find a VITA site. VITA = Volunteer Income Tax Assistance. Unfortunately, they may not be around until tax season.

I believe that you can search for VITA sites at IRS.gov.

Power & Light District tax revenues head higher

New businesses helped the Power & Light District boost its sale-based tax revenues substantially last year, but still far below what’s necessary to meet city debt obligations. The downtown entertainment district generated an estimated $4.1 million in sales-based tax revenues in 2009, up 78.3 percent from 2008, according to the Kansas City Finance Department. The district also is expected to …

Tax Help : Is Cost of Tax Preparation Software Deductible?

Question: How can I find out how much I get back in my tax return, for free?

Some website names would be preferred, thanks.

Answer: You can sit down with a paper form 1040, fill it out and figure out your refund. The forms are available on www.irs.gov

Roth IRA conversion strategies to consider

These tactics help you hedge against the risk of owing taxes on converted assets that fall in value.

Tax Tips: First-Time Filing a Tax Return? – February 2010

Question: Is there any limit for House Rent to avail the Income Tax exemption in India without providing the receipts..?

I heard that if the House Rent is below Rs. 3000 per month then there is no necessity to provide the Rent Receipt to the company… Is it true..??? Is there any limit for House rent to avail the tax deductions while filing the Income Tax returns in India…?? If yes, how much can a salaried employee show in his Income Tax return to avail the exemption for House Rent without providing the rent receipts…??? Is it necessary to provide Rent Receipts to the company in which he is working while in the preparation of Form-16…???

Answer: It is mandatory to give copies of rent reciepts irrespective of the amount paid

The HRA is calculated at lower of

Actual HRA
or
Excess of Rent paid over 10% of Salary (Excluding HRA)
or
50% (In case of Metro Residents) / 40% (In case of other residents) of the Basic Salary

Times Q&A: Plenty of tax-return aid available for El Pasoans

EL PASO — T.S. Eliot may not have been thinking of taxes when he said April was the cruelest month. It’s only March, but April is on many people’s minds because tax day is six weeks away. Eleazar Pando has worked for Strickler and Prieto, an accounting firm in El Paso, for two years.

Give to Haiti and Receive an Instant Tax Deduction on Your 2009 Tax Return