Category Archives: Taxation

USA Tax Lawyers

Tax attorneys specialize in tax laws. A tax attorney understands the ever changing tax laws and rules. Tax lawyers can assist you file your income tax returns. Not filing your tax returns in time is an offense. If you have missed filing your tax returns, consult with an experienced tax lawyer.

Tax attorneys know there is a difference between tax evasion and tax planning. Tax planning is perfectly legally. Tax planning basically uses the provisions of law to lower your tax liability. Seek the assistance of an experienced tax attorney if you want to lower your tax liability through tax planning. Tax planning requires deep knowledge of the tax laws. Attempting to do it without the assistance of a tax attorney can result in trouble. Your do it yourself tax planning can result in tax evasion. A tax attorney will ensure that your tax planning strategies are within the framework of law and legal. read more

Business Tax and Deductions

If you are a business owner, you should be careful about what you claim as deductions on your business tax returns. Claiming the wrong deductions can cause problems for you. Not all interest is deductible. Personal interest, interest paid on money borrowed to buy personal items such as clothing, gifts, artwork, furniture, and cars not used for business, is not deductible at all.

Business interest, interest paid on money borrowed to use in a trade or business, is always deductible in full. For the business owner, the goal is to separate business borrowings from investment or personal borrowings and, whenever possible, to borrow for or through the business. It is the failure to make this separation that gets businesspeople into trouble. read more