TaxConnections
TaxConnections Worldwide Directory of Tax Professionals is an authority site of tax advisors from around the world. As the leaders in our market vertical, you can find and interact with tax professionals in corporations, law firms, public accounting firms, tax services firms, government and academia in one click. Through our innovative technology, we maximize the exposure of a tax professional’s expertise and services to the more than one billion people who go online for tax advice each year.
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You Could Be Taxed on That “Non-Taxable” Employee Benefit
A benefit frequently offered to employees is discounts on products or services that the company sells. Under the Internal Revenue Code, all benefits provided to an employee are taxable, unless they are specifically excluded from…
Owners Should Utilize the Work Opportunity Tax Credit
With the utilization rate of less than five percent, business owners are leaving a ton of money unclaimed for this tax credit. What is the Work Opportunity Tax Credit? WOTC is a Federal tax credit…
Unused LLCs and Corps
Why do you keep forming LLCs, partnerships or any kind of corporation when you’re not really ready to do business? Then, you have these legal entities, with stringent tax filing responsibilities – and you do…
Protecting Your Company: Asset Control
What controls should be put in place to protect the company’s assets from fraud? Company assets such as inventory, equipment and vehicles are highly susceptible to fraud and need to be protected. Internal controls should…
What Most Frustrates Me About Startups!
One of the services my firm offers is assistance in Entity Selection for startups. This is usually when we talk about various options available for the incorporator and what type of entity would be the…
Tax Advantages: Reimbursing Employees for Education
Reimbursing employees for education expenses can both strengthen the capabilities of your staff and help you retain them. In addition, you and your employees may be able to save valuable tax dollars. But you have…
Tax Rules for Bad Debts on a Balance Sheet
How do income tax rules treat bad debts? Facts: There are two provisions in the Income Tax Act (ITA) for bad debts. Discussion: The first way to claim a bad debt is covered in Section…
How to Determine Taxability of Services
If you followed our recent series about multi-state tax facts for various types of technology companies, you likely noticed a common theme: it’s important to determine which states a business has created in so that…
Business Entity Selection and Tax Consequences of Converting
For this post, Brandon Rains, founder of the Rains Laws Firm and an expert on business formation, espouses his observations about business structure changes and I address the income tax reporting requirements of those changes…
Long-Term Debt on a Balance Sheet
What is Long-Term Debt on a Balance Sheet? The Long-Term Debt category appears as a long-term liability on a Balance Sheet. The balance represents the total outstanding balances of all bank loans, mortgages and financial…