SR&ED are a very important and significant financial aid to companies that make new technological discoveries. They exist in Canada and help promote growth through the development and marketing of innovative new technologies. It works almost like a tax cr...

For the companies worldwide, tax return season is a hectic one. It is in this hurry that important tax details are overlooked while aiming for the profit curve for their businesses. Often, time is a casualty here, because the timely payment of the taxes b...

We’ve all heard about the impact of the Economic Stimulus Plan on individual taxpayers, but not as much information has been reported by the media regarding its effect on small business. To stimulate a sluggish economy, Congress has included in HR5140 a...

No one wants to pay more taxes than they are lawfully required to. But sometimes in their quest for lower taxes, many people will fall prey to many scams that promise a lower tax bill. In the end, these scams are always more trouble than they are worth...

Do you know what tax information you need in case you are faced with an audit? Don’t be audited and not have the right papers. Though your chance of being audited is not high, it’s better to be prepared. So what are the chances of being audited? A...

Companies that develop new or improved products or processes, or make significant investments in the development of internal-use software, may be able to benefit from the research and development incentives. The research tax credit is a dollar-for-dollar ...

As a small business owner, you are most likely going to incur some expenses related to the promotion of your business. Generally, most of the expenses you incur are deductible either as advertising expense or as some other expense. Some expenses are not...

Millions of families are facing foreclosure because of rising mortgage payments in our ever-weakening economy. However, if you follow these simple tips you may be able to reduce the amount you pay in property taxes. Understand Your Local Tax System ...

The Internal Revenue Service (IRS) is feared by millions of American’s because of their aggressive collections. However, generally they cannot make attempts to collect a debt that accrued over 10 years ago. The IRS is one of the most aggressive and...

Now is the best time to start thinking about your yearend tax planning for your business? These tax strategies can be put into effect by the end of the year and some as late as when the tax return is due. Planning now will save you money and reduce your t...

Every year American taxpayers attempt to lower their federal tax liability by including any credits or deductions they can think of. Below is a list of the most ridiculous tax write-offs ever allowed by the Internal Revenue Service. Some of these deduc...

You all probably know there are a lot of firms nowadays that claim to be able to provide people with IRS tax debt settlement help. Among these we may find attorney firms specializing in tax law and debt counseling agencies that have some experience in dea...

Why is it that almost every Tax Representation Firm out there needs you to owe more than $10,000 before they will take your case? The Answer is money, the money they will make off of you. I'm here to tell you, you can handle it all yourself. You he...

Myth Number One: The IRS will Accept Pennies on the Dollar You may have heard the term “Pennies on the Dollar” in reference to settling a tax debt. However, 99 cents is “pennies on the dollar,” and filing an Offer in Compromise is compli...

What Can I Expect in an Audit? In recent years, the focus of the exam division of the IRS has changed. The service used to examine claims to see if they were true or false. For example, if you claimed a charitable contribution, they’d want to ...