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Archive for the ‘TaxPlanning’ Category

Year-End Tax Planning

Posted by taxguru on October 14, 2013

CCH has issued a handy free year-end tax planning report.

Their description of the report

Download the 14 page pdf file

  

Posted in CCH, TaxPlanning | Comments Off

Is minimizing taxes wrong?

Posted by taxguru on May 21, 2013

According to some people, especially those who believe all money rightfully belongs to government, it is wrong to take steps to reduce one’s tax burden.  Those of us who believe in the capitalist free market system understand that legally arranging things to preserve as much of our hard earned income is the fiscally responsible thing to do.

A reminder of the quotes that have always summarized my tax planning philosophy, from Judge Learned Hand in 1934 and 1947.

Any one may so arrange his affairs that his taxes shall be as low as possible; he is not bound to choose that pattern which will best pay the Treasury; there is not even a patriotic duty to increase one’s taxes.

Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.

 

Our rulers in DC, including some RINOs, need to be reminded of this, as they try to embarrass some large American companies for just doing what they should be in order to continue succeeding.

Google insider exposes ‘immoral’ tax scam –  Whether something is a “scam” or just smart business management is in the mind of the beholder.

 

Apple is also under the gun for being too successful and not kicking enough money up to the organized crime bosses in DC:

Panel: Apple uses firms outside US to avoid taxes  

High-Tech Lynching: Senate Attempts to Crucify Apple

Apple Avoided Taxes on Overseas Billions, Senate Panel Finds 

Apple’s Cook to face Senate questions on taxes 

Apple CEO makes no apology for company’s tax strategy – Good for him.

Senate investigators: Apple sheltered $44 billion from taxes

 

 MAD-Magazine-Apple-Taxes

 

This is a contentious issue all over the world.

100 of UK’s richest people concealing billions in offshore tax havens –  All countries with high tax rates will have those who refuse to just bend over and accept a fiscal buggering.

 

Taxes on some wealthy French top 100 pct of income: paper –  This takes the concept of taxes as slavery to a ridiculous extreme. Having to pay the government more than you earn is nothing less than outright theft.

 

TaxCoach Software: Finally! Plain-English Tax Planning That Builds Your Business!

 

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Year-End Tax Planning

Posted by taxguru on October 27, 2012

ACAT has posted some handy year-end tax planning client letters that they adapted from CCH sources. 

For Businesses (4 page DOC)

For Individuals (4 page DOC)

 

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Posted by taxguru on July 30, 2012

A Mid-Year Look at the Coming Tax Mess – Year-end tax planning is going to be a mess, especially if the Bush rates aren’t extended.

Even if Romney wins, will he push for a retroactive extension of those rates when he takes office?  One of the first things Clinton & Gore did in 1993 was retroactively raise everyone’s taxes. 

 

Posted in TaxHikes, TaxPlanning | Comments Off

Smart Tax Planning Upsets the Left

Posted by taxguru on April 29, 2012

How Apple Sidesteps Billions in Taxes – Of course, the NY Slimes thinks this is a bad thing when anyone uses proactive techniques to avoid being fiscally raped by the tax collectors.  I’ve been helping clients shift income out of high tax states such as the PRC and into tax free states, such as Nevada, Washington and Texas, for decades; so this is nothing new.  Actually, it’s a tool in the tax planning arsenal that not enough businesses consider.  Rather than be bitter about what Apple is doing to reduce its tax burden, more business owners should be following its example.

Rush nails this liberal hypocrisy.

From Blog Pix

Time Magazine chimes in: Apple’s Tax Avoidance: Evil Scheming, Good Business, or Both?

 

PJTV dissects this NY Slimes attack on Apple:

 

 

TaxCoach Software: Are you giving your clients what they really want?

Posted in StateTaxes, TaxPlanning | Comments Off

Tax planning more difficult than ever…

Posted by taxguru on October 11, 2010

 

Expiration of Bush Tax Cuts: How Will It Affect You?

 

Estate tax may become another nail-biter when lawmakers return

 

 

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