Tips For Finding A Good Tax Preparer

by Guest on January 26, 2016

how to find a good tax preparerTax season is one of the most frustrating aspects of having a job. The one thing that compounds this frustration is waiting or forgetting to do your taxes until the last minute, meaning you have to rush just to get everything done on time to avoid a penalty. This can lead to mistakes and pointless errors that can cost you even more money. As taxes are officially due next week, it’s important to find a tax preparer that can complete this preparation quickly and without error. Thankfully, there are a number of tips that you can utilize when searching for a good last-minute tax preparer.

Verify Eligibility to File the Return

The tips for finding a good tax preparer when there’s not much time left before taxes are due are not all that different from tips for finding a good tax preparer when there’s lots of time before taxes are due. Following a few simple tips will always yield a good tax preparer. The only difference with waiting until the last minute is that it might be more difficult to find one that isn’t completely busy. The first tip to remember is to verify if the tax preparer is fully eligible to file your return. Due to certain regulations, all tax preparers are required by law to have a PTIN number in order to file your return. Ask immediately if the tax preparer has this number and make sure they are compliant with any further state regulations.
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disability tax creditFor most people who live with a disability, finding ways to save a bit of money is a top concern. There are so many different ways that a person will be able to get the right savings in place, but it will take some work. The government has special provisions and tax credits that can help a disabled person get some money back at the end of the year. Finding a professional, like, will help a disabled person get the help they need to get these credits. Here are some of the things that a disabled person will need to find in a professional to help with their tax credits.

They Need a Lot of Experience

The first thing that a person will need to look for in a professional is the level of experience they have to offer. Finding the right professionals is a time-consuming process and will require a person to do some homework. Ideally, finding a person that has been in the business for a number of years can be very beneficial in a case like this. The more experience that a person has in this line of work, the easier it will be to get the right results in regards to the tax credit.
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States With Higher Corporate Taxes

by Guest on July 7, 2015

corporate taxCorporate taxation is a complex tax system, and differs by country. This tax can also be referred to as corporation tax or company tax and is a tax on the income of some types of corporations. Company income tax is often decided like taxable income for individuals but sometimes the corporate tax rates can differ. Some countries tax companies on income and when the business pays a dividend. Sometimes businesses may not have to pay any tax.

There are some countries that do not have a corporate income tax rate but the companies are required to pay other types of taxation. In some countries, multinationals (MNCs) pay a potential tax rate of between 5% and 15% conditional on market cap.

US Claims the Highest Corporate Tax Rate

The foremost corporate tax rate in the world belongs to the US. At 40% the highest-ranking corporate tax rate the US has motivated many industries to “invert”. Inversion of US businesses means that a business buys a foreign subsidiary and relocates its main office (on paper at least) to that country where it benefits from a reduced tax rate. Some have called this practice “positively un-American.” [click to read…]


tax tipsWe would all love to save on our tax bill. For one thing, no one likes forking out twenty per cent of their wage even if it is the law. But, more importantly, the money we spend on taxes is our largest outgoing. If we could cut that, we cut save ourselves a fortune. How do you do it without ending up in a jail cell? Just follow these simple tricks.

Top up your Pension

The amount you pay into your pension is taken from your yearly earnings, and that figure is then taxed. What’s the result? You pay far less tax than you would do without paying into your pension. For example, say you earn $40,000 a year and pay 20% in tax, you will pay around $6,000. But, if you pay $1,000 into your pension and then get taxed on $39,000, you will only pay $5,712 in tax and save around $300.

$300 a year is a lot of money that you could spend on a holiday. So, instead of paying tax, spend two weeks of the winter in sunnier climates.
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Tips To Help Save On Your Taxes

by Pam on May 28, 2015

taxesThere are two sureties of life – death, and taxes. Neither can be avoided,  but at least the pain can be alleviated. In the case of taxes, the effects can actually be reduced. Everybody wants to be able to save a little money but if taxes are unavoidable, how can you save money on them?

For a start, getting your tax returns in on time can help you avoid a nice fine from HMRC but else can you do to keep everyone happy and come away with some change?

Check your tax code

Your tax code may change from year to year, so make sure you check it. Using the wrong tax code can mean that you end up paying more tax than you should, so this is something worth keeping an eye on.

If you are not sure of what your tax code actually is, you can find it on your payslip. Take a look at the Which? tax calculator to see how much you should be paying.
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what not to give your tax preparerThere is often some confusion around what you do and do not need to provide when someone is doing your taxes for you. To make it simpler for yourself and the tax preparer, I am going to give you some ideas as to what you don’t need and hopefully it will save you and your tax preparer some precious time.

Here is a list of the things you don’t need to provide to your accountant when they are preparing your personal tax return:

  • GST Credit statement – If you receive a GST cheque or deposit from the government, this is not an item that is taxable, so you don’t need to provide it.
  • Provincial Health Care deduction limit – Some provinces have a program whereby after a certain amount of medical expenses are reached, the province will cover the rest. This is not something used for preparing your tax return.

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Claiming A Tax Refund: Agency or HMRC?

by Guest on May 12, 2014

tax refund tipsIf you are – or were – an expat living in a foreign country, it’s not uncommon for you to feel overwhelmed by an entirely new tax system. Many expats who have lived and worked in the UK don’t know that they could be due a tax refund, let alone how to claim it. Here we explain the two ways to claim back your UK tax refund.

What is a tax refund?

A tax refund is a repayment of PAYE tax that you have overpaid during the tax year. You might be eligible for a tax refund if:

  • You’ve only worked for part of a tax year
  • You’ve worked for more than one employer in a tax year
  • You’ve had two or more jobs at the same time
  • You’ve been taxed on a basic rate tax code
  • You’ve left the UK before the end of the tax year (6 April – 5 April the following year)
  • You’ve been on an incorrect tax code at any point in the last five years

In order to get your tax refund, you need to claim through an agency or take the solo route by claiming through HM Revenue & Customs (HMRC). The route you choose to claim your refund depends completely on your personal preference and what works best for you.
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