Fair Tax Accountants Geelong Fair Tax Accountants Geelong has been first founded in 2010 and registered as a Pty Ltd in 2016. The accounting firm intends to assist small business owners, individuals, and medical professionals with all their accounting needs. It is the fastest-growing accounting service company in Geelong Victoria, based on the strength of the local talent pool. But Geelong Accountants at Fair Tax are very much more than just an accounting service. Our specialist accounting firm in Geelong is providing in-house support services is also available. A variety of in-house services, such as individual tax planning, tax compliance, and extensive personal preparation services, are not all that is offered at Geelong Accountants. A specialist firm is available that handles all aspects of the administration of these services. Fair Tax Accountant Geelong is offered a place among the top 3 accounting firms in Geelong Victoria. While most accounting services providers will accept the services of accountants only, Fair Tax Accountants has taken the step of opening an in-house accountancy team to ensure that their accountants are handled with professional…

How to Handle an IRS Tax Levy Effectively Tax obligations are among the toughest debts to do away with. Only bankruptcy cannot wipe out all the unpaid taxes, and the taxation authorities have more power to seize properties than other forms of creditors. For example, the IRS can use a tax levy to take possession of the property without having to bring you to court and win a judgment against you. On the other hand, a bank or credit card company would have to bring a lawsuit against you successfully, and meet other requirements. Fortunately, it is possible to avoid a levy. When does the IRS issue a Tax Levy If you do not pay your taxes (or make arrangements to settle your debt), and the IRS decides that the next appropriate action is to levy a levy. IRS will seize any property that you have a right of ownership or interest. For instance, the IRS could levy property that is yours but is held by someone else (such as your wages, retirement accounts, dividends, bank accounts, licenses, rental income,…

Key Features of an IRS Tax Levy There are many instances whereby a taxpayer may find themselves on the wrong side of the taxman. If debt reaches up to a certain point, the Internal Revenue Service may close in on you and file a tax levy against you. Challenges that come with an IRS Tax Levy The limitations of having an IRS Tax Levy imposed on you are many and cannot be underestimated. The collection methods used by the IRS include having your account frozen, seizure of assets, and even slashing your wages or salary to meet the debt owed to them. The whole situation can be overwhelming and may leave you dead and broke. What happens if the IRS has already slashed my wages? If such a situation arises, you still have several options to exhaust to prevent the impact caused by IRS Tax Levy. The law only allows the IRS to take only a certain percentage of the wage of an employee. This is according to the Publication 1494 that was passed in 2016 that prevents them from…

Who is a Traveler?   Introduction If travel is the “movement from one place to another,” then everyone is to be regarded as a traveler. It does not necessarily mean that this definition is wrong. So, who is a traveler, and who is not a traveler yet moves from one place to another? To some people, the word “traveler” and “tourist” have the same meaning. However, to other people, the terms have different meanings. Let’s take a look at this.   Definitions Travel is a multi-dimensional word. The more you think about this term, the more its meaning seems to broaden. In its simplest sense, a traveler is someone who goes anywhere. Funny, right? With this definition, even going to the grocery store is a form of traveling. To make it more understandable, we will look at who is considered a traveler. After that, we will study who is not considered as a traveler but moves from one place to another.   Who is a Traveler and their Characteristics? One main characteristic of a traveler is that the person makes lots of journeys…

Tax and Trusts Solicitors As age catches up with you, it is potent that you have some arrangements for the people you cherish. Make provisions so that they do not have to suffer once you are gone. It is always very crucial to have them in mind and to allot something to sustain them in the future. Yes, you may have a drafted will already, but have you looked at the tax implications that the inheriting parties might face? With probably a huge chunk of resources taken as Inheritance Tax from your estate, how will you be sure that your loved ones acquire maximum funds from the estate? Redkite Solicitors, we are aware of how crucial it is that your estate is divided according to how you would exactly want it. It is the sole reason why our specialists are always on the move to assist people and clients on these tax matters. We will ensure you are well acquainted with all the tax trusts and planning hence allowing you to distribute your wealth to your next of kin. The…

Soda Tax Many people love sugary drinks. They have been increasingly popular and a part of everyday life for a long time. While tasty, they may not be the healthiest. As these are extremely popular, the government has seen an opportunity to make money off of these sugary drinks by increasing tax on soda. However, the move to create a soda tax is not only for generating revenue but also to incentivize people to drink other healthier options. In my opinion, I see it is fair to impose a tax on soda to fund Kindergarten. The soda companies are making a lot of profit because they market their products more to people with low income. Therefore taxing soda will help to create revenue to bring projects that can benefit residents in the city of which the majority are poor. Taxing soda drinks to Support free Kindergarten will be beneficial to most people, especially the poor, to take their children to Kindergarten. According to Kenney, the profit collected will be taken back to the neighborhoods, which are the biggest customers of…

Lowering the property tax with few tricks You may have heard that most of the homeowners have complaints on the property tax. The local governments calculate the tax, and the property owners have to pay it. The government assesses it, based on your property value. The property tax is the source of revenue to the government. Although the government use it for benefitting the society, the tax is a burden to lots of homeowners. Every year, the homeowners find an increase of property rate. The homeowners may not get a chance of reducing the standard tax rate. However, they can lower their tax bill in other ways. You can look for consultants to get Atlanta lower property tax services. How do consultants help you? With the guidance of consultants, you can understand the details of your property tax bill. You may have paid your property tax in the past years without knowing to read the bill. It is much confusing to the homeowners to find that there is no connection to the property tax between two nearby towns. The assessors…

Some of the essential facts about taxes in Ukraine that expatriates must know Ukraine is the second-largest country of Europe with a beautiful landscape. Well, it is mostly famous for its agricultural brilliance. To be precise, agriculture is one of the most significant parts of the Ukrainian economy. Besides, it is amongst the most popular destinations for expatriates. So, if you are one of them, you are in the right place. Here, we will discuss some of the facts about taxes for expatriates in Ukraine. We assure you that it will help you a lot. So, here are the points that you must know. Impact of Ukrainian tax on the expatriates Well, the first thing that you should know about tax services Ukraine for the expatriates is not that easy. Even if you are living in the US, you have to take care of your US taxes as well. However, if you want to avoid the dual-taxations, you have to maintain specific criteria. Then only you will able to enjoy these exclusions. Foreign Earned Income Exclusion Foreign Tax Credit Foreign…

How to Check Income Tax Refund Status in India As a responsible Indian citizen, you are responsible for paying income tax. However, there can be circumstances when the taxpayer has paid more than the due amount. In such a case taxpayer can demand a refund of money. In this blog, we will be unveiling the ways to check the refund status and other features associated with the same.   In which case, the person might end up paying higher income tax:   In normal case, an employer deducts the tax based on the proofs furnished by the employee about an investment like 80C. But there are circumstances when the employee is not able to provide the proofs, and in such a case a higher amount might get deducted. But, later, the employee can claim for the extra amount and get the refund on the same. The second case is when an individual doesn’t fall in the tax bar, and yet the tax gets deducted on the income. In this case, as well, the person can claim for the higher tax…

TAX RESEARCH MEMO Directions Your clients Millie and Bob have asked you to prepare a tax research memo to help them understand some complex tax issues. In the Word document titled “AC312 Unit 3 Tax Research Memo #1” you will find a summary of the issues Millie and Bob would like you to research along with the pertinent facts you require to reach a proper conclusion. You have also been provided the relevant Internal Revenue Code sections in pdf format. You will NOT need to reference any additional source of authoritative guidance to provide a complete and accurate analysis for your client. Closely study the “Tax Research Memo – Helpful Tips” Word document as well as the grading rubric for this research memo assignment as you complete your tax research memo for Millie and Bob using Microsoft Word. [unique_solution]You may also find it beneficial to review the Word document titled “Sample Tax Research Memo” to better help you visualize the proper layout and format of a professional tax research memo. Directions Your clients Millie and Bob have asked you to…