If you’re familiar with the taxing laws in various countries, you know that they can be tricky. There are generally complex formulas based on the number of days physically present inside of a country which will determines whether a person can be taxes as a resident – or non-resident – for income tax purposes (in…
Is the number one tax prep service in the world about to get a little bigger? Liberty Tax Service founder John Hewitt has allegedly been shopping a deal with H&R Block Inc. Block is tops in the commercial tax prep world by the numbers but has taken a beating in recent months. Despite reports all…
It’s funny, my line of work. I practice tax law alongside my husband who practices international and corporate law. A significant portion of his practice involves business immigration work for companies who are interested in setting up shop here in the US. It’s always interesting to me, then, to read about taxpayers who are interested…
Shortly after his conviction on tax evasion charges, Wesley Snipes declared that he would appeal on the grounds that the sentence was unreasonable. Snipes got his answer today. A federal court disagreed with his assessment, virtually guaranteeing that the actor will do time. Two years ago, Snipes was found guilty of failing to file tax…
This week, the death of George Steinbrenner rekindled discussions about the federal estate tax. As you may be aware, there is no federal estate tax for 2010. However, assuming that Congress doesn’t take action, next year the federal estate tax returns with a personal exemption of $1 million and a flat rate of 55%. Under…
About six months ago, a bipartisan effort to kickstart the economy in the form of new tax incentives, was signed into law by President Obama. The Hiring Incentives to Restore Employment (HIRE) Act, referred to as the HIRE Act, offered a tax break to businesses who hired previously unemployed workers. The break basically exempted employers…
On July 14, US Senators Blanche Lincoln (D-AR) and Jon Kyl (R-AZ) released a press release with a proposal to “permanently reform the federal estate tax.” Under the current scheme, there is no federal estate tax for 2010 but decedents’ estates for this year are subject to a set of complicated capital gains rules. Beginning…
Just days after Usain Bolt announced that he would not be participating in any meets in the UK due to tax reasons, Britain’s sports minister has stepped in and offered to help. Sports Minister Hugh Robertson has told the BBC that he will look into whether there is something that could be done to encourage…
Nobody likes a tax hike. It especially hurts when you’re already tops for taxes in the nation. New Jersey, which holds the distinction of having the highest tax burden in the nation for three years running, has been pushing back at a budget with increases that Governor Christie (R) insists are necessary. This week, the…
The fastest man in the world has finally found the one thing that will slow him down: Britain’s tax laws. According to the BBC, Bolt may not compete in the UK until the 2012 Olympics. He told a news audience, “I am definitely not going to run [in London].” Like the US, the UK attempts…