Ponzi losses can sometimes lead to tax refunds if you talk to me. A poniz loss means someone such a Madoff or Meridian stole your money and if it was big enough I may be able to process a claim for a refund. Normally a ponzi loss law suit means it will take years if ever to get any money returned.
I have found when I claim a tax refund for my clients they get money back much sooner. My clients have received refund claims of $20,000 to $450,000. Call or email your story and I can fairly quickly let you know if you will qualify for a refund.
425-451-8400 or Jim@CPAhotline.com
Thursday, December 8, 2011
Friday, December 2, 2011
Tax Chatter 12/2/2011
I just learned of an intersting bit of inside information about IRS 2012 audit strategy. They are moving away from 2011 closely held corporations and LLCs to emphasize high income 1040 individuals. What is high income? Above $150,000 of adjusted gross income. Talk to me and be better prepared.
Jim
Jim
Tuesday, November 22, 2011
Jim's Business Tax Credits and Deductions
I want you to be proactive with your business.
The very best 2011/2012 tax deduction tool is to own a legitimate business no matter how large or small. A business that generates revenue and deductions as an S Corporation, an LLC, or a sole proprietorship will allow you to claim business deductions and credits on your personal income tax return.
I have a business owner tax reduction strategy which is very effective at spotting tax credits and deductions to reduce your 2011 tax burden before the end of the year. Several of these tools mean you, the business owner, need to become informed and then take action prior to the end of the year.
A few of the subjects I can discuss if they help you are;
-Business logged mileage
-Annual LLC or Corporate strategy meeting
-$5,250 of formal education for an employee
-Section 179 deduction for 2011 equipment
-Inventory changes
-Medical insurance above the line
-Best business entity?
Business tax credits:
-9% Production credit
-20% R & D credit
-WOTC new hire 40% credit up to $6,000
Net Operating loss carry back for tax refunds
The best way to plan your year-end strategy is to schedule a one-on-one tax planning meeting, either virtual or in my office to set up your year end tax action to do list.
Send me an email at Jim@cpahotline.com to set up a date and time to discuss and review your 2011 tax information and compile a list of items you will need to bring with you.
http://www.cpahotline.com/
The very best 2011/2012 tax deduction tool is to own a legitimate business no matter how large or small. A business that generates revenue and deductions as an S Corporation, an LLC, or a sole proprietorship will allow you to claim business deductions and credits on your personal income tax return.
I have a business owner tax reduction strategy which is very effective at spotting tax credits and deductions to reduce your 2011 tax burden before the end of the year. Several of these tools mean you, the business owner, need to become informed and then take action prior to the end of the year.
A few of the subjects I can discuss if they help you are;
-Business logged mileage
-Annual LLC or Corporate strategy meeting
-$5,250 of formal education for an employee
-Section 179 deduction for 2011 equipment
-Inventory changes
-Medical insurance above the line
-Best business entity?
Business tax credits:
-9% Production credit
-20% R & D credit
-WOTC new hire 40% credit up to $6,000
Net Operating loss carry back for tax refunds
The best way to plan your year-end strategy is to schedule a one-on-one tax planning meeting, either virtual or in my office to set up your year end tax action to do list.
Send me an email at Jim@cpahotline.com to set up a date and time to discuss and review your 2011 tax information and compile a list of items you will need to bring with you.
http://www.cpahotline.com/
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