Global Tax & Consulting Experts LLC

Why financial planning is very important? Read this....

Have you prepared your Will & Trust yet? If not, it is still not too late. 10 best reasons to have will: - You need to elect someone to handle your affairs after you pass on. Designate who is in charge of your estate. - Ease the Grieving Process... - If you don't have a legally binding will, the state will decide who gets what. Minimize Probate - A will establishes legal guardianship of your children if they are still minors. - If you live in a community property state. - You can amend your will at any time. - Reduce Estate Taxes - Not as Expensive or Difficult as You Think - Maintain a Small Business - Make Charitable Donations Are you ready to prepare your will? Click below to start the simple process now: https://tinyurl.netlawinc.com/link/3v3y

Be careful with these new SCAMS: https://www.irs.gov//taxpayers-should-be-on-the-lookout-fo

Very nice article about Traditional IRA vs. Roth IRA https://www.investors.com//r/roth-vs-traditional-ira-401k/

https://www.yahoo.com//thanks-tax-law-t-claim-183102225.ht

Don’t Fall for Scam Calls and Emails Posing as IRS Scammers and cyberthieves continue to use the IRS as bait. The most common tax scams are phone calls and emails from thieves who pretend to be from the IRS. Scammers use the IRS name, logo, fake employee names and badge numbers to try to steal money and identities from taxpayers. Taxpayers need to be wary of phone calls or automated messages from someone who claims to be from the IRS. Often, these criminals will say taxpayers... owe money and demand payment right away. Other times, scammers will lie to taxpayers and say they’re due a refund. The thieves ask for bank account information over the phone. The IRS warns taxpayers not to fall for these scams. Below are several tips that will help filers avoid becoming a scam victim. IRS employees will not: Call demanding an immediate payment. The IRS won’t call taxpayers if they owe taxes without first sending a bill in the mail. Demand payment without allowing taxpayers to question or appeal the amount owed. Demand that taxpayers pay their taxes in a specific way, such as with a prepaid debit card. Ask for credit or debit card numbers over the phone. Threaten to contact local police or similar agencies to arrest taxpayers for non-payment of taxes. Threaten legal action, such as a lawsuit. If taxpayers don’t owe or don’t think they owe any tax, and they receive an inquiry like this, they should: Contact the Treasury Inspector General for Tax Administration. Use TIGTA’s IRS Impersonation Scam Reporting web page to report the incident. Report the incident to the Federal Trade Commission. Use the FTC Complaint Assistant on FTC.gov. Add "IRS Telephone Scam" to the comments of your report. In most cases, an IRS phishing scam is an unsolicited, fake email that claims to come from the IRS. Some emails link to sham websites that look real. The scammers’ goal is to lure victims to give up their personal and financial information. If the thieves get what they’re after, they use it to steal a victim’s money and identity. For those taxpayers who get a phishing email, the IRS offers this advice: Don’t reply to the message. Don’t give out your personal or financial information. Forward the email to [email protected]. Then delete it. Don’t open any attachments or click on any links. They may have malicious code that will infect your computer.

Very nice tips: https://www.yahoo.com//most-people-blow-70-money-123700500

http://www.accountingtoday.com//grab-these-tax-breaks-befo

http://www.fool.com//avoid-the-8-most-common-tax-mistakes.

IRS refund delays for tax returns with Earned Income Tax Credit & Additional Child Tax Credit: The PATH Act of 2015 requires the IRS to hold refunds on returns claiming the Earned Income Tax Credit (EITC) and/or the Additional Child Tax Credit (ACTC) until February 15. The IRS is required to hold the entire refund even the portion not associated with the EITC and ACTC until at least February 15. The IRS cautions that these refunds likely won’t arrive in bank accounts or d...ebit cards until the week of February 27 - if there are no processing issues with the tax return and the taxpayer chose direct deposit. Where's My Refund? on IRS.gov and the IRS2Go mobile app will be updated with projected deposit dates for early EITC /ACTC refund filers a few days after February 15. Taxpayers will not see a refund date on Where's My Refund? until then.

IRS will start tax season from January 23rd: https://www.irs.gov//2017-tax-filing-season-begins-jan-23-

Question: Do you think that Amazon is negatively impacting other small businesses, unemployment rate, culture, consumer expectation,.....?? Before people used to go to local stores to purchase even a small thing now they buy grocery from amazon. Is that a good thing or bad? Is Amazon trying to create a monopoly? I agree it is very convenient to buy from amazon and get the stuff at your door instead of you driving to store and spend time to find the item you want but are you helping your economy by supporting Amazon?

FYI, Monday is the last day to file your personal tax return for 2015. If you have not filed it yet, you still have time to do it.

Beware of this scam: http://www.accountingtoday.com//beware-orlando-related-sca

Be careful of tax frauds: http://www.forbes.com//mo-money-tax-preparers-are-senten/

Global Tax sign at our Clairmont office

Good summary of tax changes for 2016 tax season: http://www.fool.com///06/2016s-10-biggest-tax-changes.aspx

Hello All, The national Open Enrollment Period for health insurance starts on November 1, 2015 and ends on January 31, 2016. During this time, those seeking health insurance for 2016 can apply and get coverage starting as early as January 1, 2016. Here are the key dates: Key Dates for 2016 Open Enrollment Season... Open Enrollment Period Begins: November 1, 2015 Deadline for January 1 effective date: December 15, 2015 Deadline for February 1 effective date: January 15, 2016 Open Enrollment Period Ends: January 31, 2016 If anyone signs up between January 16, 2016 and January 31, 2016, the policy will have a March 1, 2016 effective date and the individual will likely incur a partial tax penalty.

Roth IRA vs. Traditional IRA contribution? http://time.com//retirement-investing-traditional-ira-ro/

Deadline to file personal tax return is October 15th, 2015. If you have not filed your tax return by now, still its not too late. Contact us at 678-395-3589.

Nice strategy: http://finance.yahoo.com//much-money-save-day-become-15000

Tax season is almost over....If you have not filed your tax return by now, you have only one week left to do so. Last day to file tax return is April 15. If you are not ready to file your tax return, you can file an extension. As I mentioned earlier in my post, extension is only to file return not to pay. If you think you owe taxes, you should pay with your extension. If you are planning to contribute to IRA, you have only till April 15. Let us know if you need any help. Call us at 678-395-3589

Are you ready to file your tax return??? You can call us at 678-395-3589 to schedule an appointment. If you don't have time in weekdays you can come in weekends too with an appointment. Why to pay so much money to franchise tax preparer when it can be done for less than $100. Hurry....

Look out for these new forms for your health insurance coverage for 2014. These forms may be issued by Marketplace or your health insurance provider. Provide these forms to your accountant to prepare your 2014 personal tax return: http://www.freep.com//aca-tax-forms-marketplace-/21125345/

http://www.csmonitor.com//Roth-IRA-Part-of-a-major-new-tax

End of year tax planning strategies: http://finance.yahoo.com//live-chat--end-of-year-tax-plann

Tax Filing Deadline: Hi everybody. I would like to remind you all that to file your personal tax return, deadline is October 15th, 2014. If you have not filed your tax return yet, please get all your tax papers together and call us at 678-395-3589, fax to 678-928-9498 or email us.

Tax Brackets for 2014 and some tips for end of year: http://www.fool.com//how-tax-brackets-really-work-and-how-

Deadline coming to report foreign bank accounts: June 30th is the deadline to report your foreign bank accounts if you had more than $10,000 balance at any point in 2013 in any of your foreign bank accounts for US residents. You need to file form TD F 90-22.1... http://www.fincen.gov/forms/files/f9022-1_fbar.pdf

Very nice article about gain on primary home sale: http://www.marketwatch.com//how-to-get-a-500000-tax-break-

Do you do stock strading??? See this: http://www.forbes.com//benefits-of-using-an-s-corporation/

http://finance.yahoo.com//irs-paid-least-13b-improper-tax-

http://news.yahoo.com/senate-votes-open-debate-renewing-tax

Please renew your company on Georgia Secretary of State by May 31st, 2014. See below for more info: http://sos.ga.gov//secretary_of_state_kemp_reminds_corpora

This is just a reminder to everybody who have not filed their personal tax return that deadline to file return is April 15th. If you are not ready to file it, make sure you file an extension before April 15th. It will give you additional 6 months to file your tax return. Also, to save income tax, if you decide to contribute to IRA, please fund your IRA contribution before April 15th.

Be Careful with IRS Scam: One of my clients got a call from number 979-705-5132 and 507-540-0419 that he is IRS agent. He said his name is Brendon Walter and his ID number is 19735641. He mentioned that you owe IRS $3500 for tax years from 2008 to 2012. My client said to him that this is a scam and she will call 911. Within 5 mins, she got a call from local police department about the same thing. Somehow they managed to call from local police department. When we researched a...bout the phone numbers, we found out that this is nothing but a scam. Just be careful. REMEMBER: IRS never calls or send emails. They always send letters.......so be careful

Some helpful info: http://finance.yahoo.com//10-tax-audit-red-flags-164411371

Filing an extension tip: Lot of people have this misunderstanding that I have filed an extension so I have 6 more months to deal with my taxes. Let me clarify, extension is just for filing tax return not to pay. It means if you think you will owe some taxes to federal and state, your tax is due before March 17 (Corporate) or April 15 (Personal) and not Sept 15 or Oct 15. You can file your tax return before the extended deadline but the payment is due before March 17 (Corporate) or April 15 (Personal). Hope this help

Don't ignore this: http://finance.yahoo.com/news/audited-140000289.html

This is just a reminder to everybody who are self employed that to file corporate tax return, deadline is March 15th. So hurry up....or file an extension :-)

Not sure how many people know about this $2500 education credit from Georgia Department of Revenue. You donate $2500, get deduction of federal and state gives you tax credit of $2500. To claim this credit, you need to send paperwork to state to qualify. Once Georgia approves your donation then you can make this donation. See more info in this link: http://www.goalscholarship.org//page/frequently-asked-ques

Once again, this is just to remind everybody that open enrollment for healthcare is open till March 31st. For coverage starting March 1st, enrollment ends February 15th. Also, make sure you show all possible income when you enroll, not only your W-2 income. Otherwise you will have tax due on your income difference in 2015 for 2014 tax year.

Common mistakes people make on their tax return: http://finance.yahoo.com/n/dont-tax-mistakes-234200980.html

4 Ways to reduce your 2013 tax bill: - Maximize IRA contribution: - Take advantage of new home-office calculation ($5 per sq. feet.) - Troll for tax credits... - Stay Organized For more info, read this article: http://finance.yahoo.com//4-ways-reduce-2013-tax-130000205

Link for form W-4 (Federal Withholding) to submit to your employer: http://www.irs.gov/pub/irs-pdf/fw4.pdf

Higher taxes for 2013: http://finance.yahoo.com//6-reasons-you-may-face-higher-ta

ARE YOU A VICTIM OF IDENTITY THEFT????? Every year, identity theft cases are increasing. So before you file your own tax return, someone has already used your social security number and claimed refund. When you try to efile your tax return and if it is rejected by IRS even though all your information is correct, you might be victim of identity theft. In this case, you need to file "Form 14039 - Identity Theft Affidavit". Once you file this form, IRS will issue on PIN that you need to put on your form 1040. After you filed your tax return for current year using secret PIN, from next year nobody can file your tax return. IRS will catch them. See below link for form 14039.

http://finance.yahoo.com//why-irs-customer-awful-may-12000

http://finance.yahoo.com//8-errors-youre-most-likely-19473

http://www.fool.com//7-tax-deductions-credits-that-many-pe

JC Penney is closing 33 stores in US. If you see the below list, none of them is in Georgia. JC Penney has over 25 stores in Georgia itself. So, does it mean Georgia is doing well compared to other states? http://blogs.wsj.com//heres-the-list-of-the-33-stores-j-/

January tax to-do list: http://finance.yahoo.com/ne/13-tax-moves-now-125904216.html

Today morning I heard on local radio that more and more people are signing for Obamacare. I believe its like 2.2 million in overall USA and approx 56200 in Georgia. Majority of them are young people.

Are you looking to get home mortgage loan? See this might help... http://homes.yahoo.com//is-it-easier-to-get-a-mortgage-014

http://finance.yahoo.com//beware-these-5-terrible-tax-surp

Obamacare Recent Example: I know this person who just got the health insurance from Marketplace (healthcare.gov). I will say total expected income for 2014 is around 20-25k range and is Single. Based on the information, that person got insurance quote for $210 and after $150 premium credit, final insurance cost per month is $60. This is just cheap. I don't think you can find insurance for this cheap anywhere else in USA. Please share your experience......

List of deductions:

Quiz: What you like the most, refund or balance due on your tax return? It sounds like an easy question but think....

10 companies pay highest income tax, guess who is no. 1? Its not Apple or Google: http://finance.yahoo.com//companies-paying-most-taxes-1745

Now you can check your social security benefit update online. Create your account and check how much you add into your social security account. http://www.ssa.gov/myaccount/

IRS will start accepting business tax returns for 2013 from January 13, 2014. They will accept individual tax return from January 31st, 2014.

IRS has increased standard business mileage rate to 56 cents for deductible auto expense. http://www.irs.gov/2014-Standard-Mileage-Rates-for-Business

Few tips for tax coming season: - Start collecting your total cash or non-cash donations - Collect all medical bills for you and your family - Look for safe deposit box payment, mortgage interest statement, property tax payment, ad valorem tax receipt, job hunting expense, etc. ... - For employees unreimbursed expenses, prepare mileage log book & other expenses paid out of pocket for your job - Either download your stock trade statement or contact the brokerage company for expected statement date - Fill out tax organizer for 2013 year. If you don't have blank tax organizer, please contact us. See more

IRS will start accepting tax returns from January 31st, 2014. http://www.irs.gov//2014-Tax-Season-to-Open-Jan.-31;-efile

http://www.marketwatch.com//7-changes-to-tax-form-1040-201

http://www.fool.com//what-to-know-about-new-2014-tax-brack