People might also want to use this end of year tax time to evaluate their Individual Retirement Account.
The firm is India's largest overseas corporate investor, but has been caught up in a five-year tax battle.
The most-watched item is the one-year tax credit for research and experimentation, which expired at the end of 2009.
One year tax credits were able to offset the alternative minimum tax in the annual fix passed by Congress.
FORBES: Obama vs. Romney -- Which Presidential Candidate Favors Small Businesses?
Besides, does anybody seriously expect firms to open and shut plants to take advantage of a modest two-year tax break?
Each year tax planners like myself attempt to predict what the next piece of tax legislation will throw at us.
This mini-state guarantees a 15-year tax holiday, an easy promise given the fact that it has no personal or corporate income tax.
Few news outlets reported that the Democrats were pushing a ten year tax increase to pay for this one year payroll tax cut.
Perhaps because of it, last year tax revenue rose by 9%, says the government, even though the economy grew by less than 1%.
Clinton has accused Republicans of cutting too deeply into spending proposals, such as capital improvements for schools, in order to provide election-year tax cuts.
CNN: Big issues await Congress as budget deadline, campaign loom
Employers are not going to take on a permanent employee in return for a temporary, one year tax reduction covering just 3% of his salary.
FORBES: Instead Of Obama's Jobs Plan, Pass Something That Will Work
Aside from some end-of-year tax selling and concerns regarding the fiscal cliff, shares of Apple took a brutal beating towards the end of 2012.
FORBES: Why Apple Should Hang-up On The iPhone, iWear Is Next
Have your tax advisor do multi-year tax projections, so you can do a better job of spreading deductions over multiple years to minimize the impact.
FORBES: Pease Limitation Puts A Lid On Itemized Deductions For Wealthy Folks
Whether resorting to two-month extensions, one-year reprises or two-year tax patches (remember the AMT?), Congress is having an increasingly hard time committing to the long term.
We had a two-year tax cut for Make Work Pay for -- 95 percent of working Americans got a tax cut, middle-class families, small business people.
If we want more people to be able to afford houses in the long-run, a two-year tax holiday for home-buyers isn't the way to do it.
That would seem to leave those Tory councils with their hearts set on year on year tax increases in direct ideological conflict with their colleagues at Westminster.
The company noted the raised earnings guidance reflected increased sales expectations and shares repurchased through June 30, interest on borrowings, and a lower full year tax rate.
Congress figured out a good way to coax back some of that cash in 2004 when it created a one-year tax holiday on the repatriation of offshore cash.
House GOP leaders finally passed their long-overdue budget plan, but that does not mean the Republican faithful are any closer to delivering an election-year tax cut to the voters.
The 2003 Bush tax cuts were powerful, but their inherent flaw was their sunset provision in 2010, which created uncertainty for economic actors about the 5-year tax outlook by 2006.
Until 1981, companies like Apple set up shop in Ireland because it offered not only an eager, English-speaking work force and ready access to European markets, but a 10 year tax rate of zero percent.
FORBES: What Can Go Wrong Next? Global Arrows Pointing At The Apple Atop Ireland's Head
It would be cleaner to figure out a way to deliver the credit through the income tax system if this becomes a permanent feature of our tax system, rather than a one year tax cut.
FORBES: Federal Payroll Tax Cut in 2011--Roots for an Individual Worker Credit?
The last thing that you probably want to think about this month is taxes, but now is actually the perfect time to tackle some key end-of-year tax planning that could save you beaucoup bucks come April.
The supply of deals coming to market in the US should also get a boost this year due to the two-year tax cut extension that may spur some sellers to lock in profits at lower capital gains tax rates.
Full details, including the start date for the relief in various locations and information on how to claim a disaster loss by amending a prior-year tax return, can be found in tax relief announcements for individual states on the IRS website, www.
FORBES: Hurricane Irene Extends Some Deadlines - 1.5 Cheers from Tax Preparers
For Tax Year 2003, about 61.9 percent of all corporations filed a Form 1120S. The total number of returns filed by S corporations for Tax Year 2003 increased 5.9 percent to nearly 3.3 million, from nearly 3.2 million reported in Tax Year 2002.
FORBES: Two Thirds of US Corporations Don't Pay Federal Income Tax: True But Horribly Misleading
That means you must be single, divorced, or otherwise unmarried at the end of the tax year and (1) you paid more than 50% to keep a home for the entire tax year for a parent who was a dependent OR (2) you paid more than 50% to keep a home for the entire tax year with your dependent (there are some exceptions to this rule).
However, if you have a casualty loss from a federally declared disaster, you can choose to treat the loss as having occurred in the year immediately preceding the tax year in which the disaster happened, and you can deduct the loss on your return or amended return for that preceding tax year.
For this purpose, deductions are more or less calculated in the same manner as you would calculate ordinary deductions so long as they are associated with the passive activity for the tax year or carried forward from a prior tax year.
FORBES: Taxes From A To Z (2013): P Is For Passive Activity Rules
应用推荐