Tag Archives: TAX

What Does A Tax Fraud Lawyer Do?

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Although we would like to believe that just the odd few people decide they do not want to pay their taxes to the government, this is not the case as many businesses fall foul of tax laws as well. This is of course against the law and a person of company found attempting this act is committing a crime. The act of flaunting the rules and laws institutionalized for the proper functioning of the government is considered a serious offence. Despite the seriousness, crimes such as tax evasion are often referred to as ‘white collar’ owing to the type of person or company that commits them.

Tax fraud is a general term used to refer to offenses such as tax evasion, non-filing of tax returns, forgery, non-declaration of assets and income, misrepresentation of conditions for the purpose of tax exemption and other such actions related to the payment of taxes. Tax fraud lawyers are specialized attorneys that deal with issues of tax fraud and represent clients who are accused of tax fraud.

Tax fraud lawyers have only one function and are not used for advice on how to plan for future tax commitments. Often people or companies that just suspect the Internal Revenue Service is investigating their tax records will use the services of an attorney prior to any charges being levied. Though the issue is morally wrong, tax fraud lawyers work on ways to negotiate with tax authorities and help their clients legally evade taxes to a limited extent and mitigate their situation with regard to the charge of tax fraud.

Despite the serious nature of tax fraud, it is not always the fault of the person being investigated as ignorance of the laws can be to blame. It is also not unusual for people and companies to fall victim to the poor advice of tax consultants.

Often attorneys will provide proof that their client was the unwilling victim of tax fraud and although still guilty it is usual for the punishment in these circumstances to be more lenient or the charges dropped completely. It is very important to select tax consultants carefully as only those with proper industry certifications and detailed exposure to such cases can help people solve what can be tricky situations with the IRS.

Tax fraud lawyers often put across the point that prosecution and imprisonment will not necessarily recover lost tax revenue but this method should not be relied on to win a case. Often this line of reasoning works if presented by a good lawyer as it means that the offender will still pay any tax that is owed without the financial burden of paying for them to be in prison.

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Accounting Suggestions: Apply Dividend Rather Than Bonus To Help Save Tax

For the majority of Small to medium sized Companies, it’s pretty much a well-known strategy to make use of dividend rather than increased wages in order to reduce tax bill for the working investor. This kind of approach can be applied in instances where the reduced rate of business tax applies. The savings in this regard comes via the fact that NI is due on earned income but not dividends.

Without earned income, there are going to be no National Insurance. And so the real question is why then pay a wage at all? Why not simply pay all of it out as dividend and prevent the National Insurance pitfall entirely? Well the answer is in what we gain as a result of paying NI.

The N.I. Contribution has a bearing on some of our entitlement to state benefits including pension, sick pay, statutory maternity , statutory paternity pay, and so on.

The thing with National Insurance Contribution and the benefits most of us derive from it would be that the amounts won’t be specifically proportional. Nevertheless the actual contributions happen to be directly proportional to your chargeable salary.

Following from the above, after a certain amount of National Insurance Contribution, virtually no further gains is going to accrue from additional payment. Usually the optimum amount of salary needed to realize this benefit level depends upon individual situations.

Commercial enterprise owners, like every one else need money on a frequent time frame. Having figured out just what annual salary you will need, you need to make up the remainder by way of dividend. When establishing the regular dividend level, it’s crucial to make sure that you don’t go beyond the legitimate limit.

The legitimate limit here basically refers to the amount that helps to ensure that dividends are usually only paid out using distributable reserves. Usually the distributable reserves of a Company would be the accumulated earnings less it’s accrued losses. The major risk of exceeding the distributable profits is usually that HM Revenue & Customs can claim that the surplus are borrowings to directors which can complicate issues.

Thus, though dividend is the more tax efficient way to draw out income from your business enterprise, it’s essential that the company entrepreneurs make certain that the dividend levels don’t go beyond the company’s distributable reserves.

Want to find out more about accountants London, then visit Benjamine Teacher’s site on how to choose the best accountant for your needs.

categories: Accountants, accounting, accountancy, tax, London Accountant, Accounts

Frugal Living Enables You to Keep More Cash

There are so many tried and true ways to be frugal but few are as timeless as these below. If you want to save some money, read on to see if you can learn a thing or two.

Open the windows so there’s airflow. You don’t need air conditioning all the time and chances are, it’s actually cooler if you open the windows. The fresh air is also nice too.

There are many free magazines around the web so you really don’t need to pay for most of them. Just search the web for free magazine offers and they will probably give you a complimentary one year subscription.

Cancel your land line because you don’t need it. Cell phone work just as well these days and unless you fax multiple times a day, staples or kinkos will do the trick for fractions of the cost.

Ebay is a great place to sell your junk but the listing fees are really expensive. If you wait until they have promotions, you can list your items for free without fear that the listing fees will eat up your profit.

Coupons used to be a newspaper clipping exercise but not anymore. With online coupon sites, they do all the work while you get all the benefit. All you have to do is just search for them before you buy anything.

Those free printers can never be sold because there are so many free printer offers out there. If you want to save some money, keep them and just plug in a new one every time you run out of ink.

Shipping boxes are annoying to keep around the house but they are very useful when you resell your item. You may think that it’s not much money but small costs really add up.

Costco sells forever stamps at about a 10% discount than everywhere else. You are already saving on inflation, why not buy in bulk and save some more?

Go to garage sales and see if you can find something that you can reuse. Someone else’s trash could become your treasure. I know someone who regularly does this and her house is beautiful.

Do your laundry when there’s a big load because it will cost you less money, not to mention less time as well. With less trips, you will waste less water, use less detergent and gain much needed time.

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Using Press Releases As A Link Building Tool

Include The Keyword Throughout Release Once you’ve identified a keyword, write out a rough draft of your press release, making sure to include the keyword throughout your release. The keyword should be included, at minimum, in the header of your press release, one to three times in the body of the release, and at least once in the “About” section of your press release.

Hyperlink Thoughtfully For press release services that allow you to include hyperlinks within the release, make sure to hyperlink from the keyword you identified instead of using non-optimized keywords like “click here.” While not all press release services allow html or hyperlinking, most will allow you to at least include a link back to your site in a resource or contact box, or once in the “about” section.

Consider the Upgrade Option If presented with the opportunity to upgrade, in most cases, do so. Upgrades generally offer you the opportunity to specify the anchor text of a hyperlink or in some cases, include a hyperlink that a free package doesn’t allow. Not all upgrades are created equally, though. Consider the page rank, traffic volume, trust factors, and cost when determining whether to upgrade or not.

Distribute to a Variety of Services When submitting press releases for link building purposes, don’t submit to just one service – instead submit to a variety. Some press release sites will check to make sure that your release is unique, however, so make sure to distribute to those sites first. Start with the quality sites that have a number of links and tend to be picked up by the press; also re-write some of the verbiage in your release so as to avoid duplicate content. Simple things like re-writing the header or a few sentences within the release can make sure that your release will be picked up by a number of services.

Include Press Release On Your Own Site and Link Internally Once you’ve submitted your press releases to a few press release distribution services, you should also make sure that it has a home on your own web site. In a news or press release section of your site, upload your press release, then add in hyperlinks from the keywords in the release, linking to relevant pages on your site. While you shouldn’t overdo it on internal hyperlinking, three to four hyperlinks to relevant pages – from keywords – is fine.

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