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Why Rock Bands Are Wailing Against Tax Havens

Why Rock Bands Are Wailing Against Tax Havens

Wilco, Coldplay, Radiohead. What do these rock bands have in common? It’s more than just great music, it’s a passion for ending tax havens (sheltering money in a foreign country or independent area where taxes are low). Surprisingly, rock bands have a long and fascinating history when it comes to forging ahead into uncharted tax strategy territories. 

What Triggers a Tax Audit?

What Triggers a Tax Audit?
You may have heard that IRS audits of individuals have hit an 11-year low. This past year, the IRS has been auditing fewer than 1 in 100 individual taxpayers. But don’t allow those statistics to embolden you. Thousands of taxpayers still get audited each year. If you’re a high-earner, with $500,000 to $1 million earned annually, your chances of an audit jump to more than 4 percent. The picture changes again when it comes to business audits. Corporations tend to be audited more often (as much as 12 percent of large corporations).

10 Business Identify Theft Tips

10 Business Identify Theft Tips

Last year, Ars Technica reports, the IRS shut down an electronic tool for obtaining tax data after a massive fraud operation involving commercial data breaches managed to extract filing data for hundreds of thousands of taxpayers. This year, the IRS is facing a new wave of fraud, as criminals engage in a phishing campaign to obtain employees' W-2 form data.

Fake Rappers Exposed in Biggest Tax Fraud Bust in U.S. History

Fake Rappers Exposed in Biggest Tax Fraud Bust in U.S. History
Tax fraud comes in many shapes and sizes. In fact, the IRS estimates that 17 percent of all taxpayers fail to comply with tax laws in one way or another. Cash-intensive businesses and service industry workers are the worst offenders. The IRS claims that waiters and waitresses underreport their cash tips by an average of 84 percent.

Taxes and Your Texas Ranch

Taxes and Your Texas Ranch

Do you own a farm or ranch or are you thinking of buying one? For many Texans, in particular, living the ranch life is an American Dream. But how do taxes come into play?

FINANCIAL RISE OF THE ELITE E-ATHLETE (PROFESSIONAL GAMERS)

FINANCIAL RISE OF THE ELITE E-ATHLETE (PROFESSIONAL GAMERS)

The internet has opened a world of possibilities when it comes to earning a living in interesting ways. Case in point: the e-athlete. These professional online gamers play video games…for a living. They make money as other professional athletes do: through competitions, endorsements and, basically, allowing others to watch them play (often, in this case, through YouTube and live streaming).

What Keeps Employees Truly Happy?

  • 26 April 2016
  • Author: Cari Holbrook
  • Number of views: 1056
  • 0 Comments
What Keeps Employees Truly Happy?

Low unemployment rates are a good thing, right? For business owners, it can be a mixed bag. The current job market means that attracting and retaining top employees is critically important. Essentially, there are more jobs than there are good candidates to fill them.  

Strange Taxes from Around the Nation

  • 23 March 2016
  • Author: Cari Holbrook
  • Number of views: 940
  • 0 Comments
Strange Taxes from Around the Nation

With tax season in full swing, there’s a chance you may need your mood lightened. If so, enjoy this roundup of crazy taxes from around this great nation.

Is the U.S. a Top Global Tax Haven?

  • 23 February 2016
  • Author: Cari Holbrook
  • Number of views: 1005
  • 0 Comments
Is the U.S. a Top Global Tax Haven?

 Last month we covered how U.S. citizens working abroad were escaping outrageous U.S. taxes by renouncing their citizenships. It has now been announced that the U.S. has moved from the world’s sixth to the third top tax haven behind only Switzerland and Hong Kong  It is estimated that $21 trillion to $32 trillion in private wealth is untaxed or lightly taxed in what it calls worldwide “secrecy jurisdictions,” with the U.S. being a top spot for activity.

Have a Question for the IRS? Hang on!

  • 22 September 2015
  • Author: Cari Holbrook
  • Number of views: 1314
  • 0 Comments
Have a Question for the IRS?  Hang on!

During the latest tax season, the average wait time for taxpayers calling the IRS was nearly 25 minutes, which is double the amount of time of the previous year. Some days, fewer than 40 percent of calls actually reached a live person. In fact, the IRS hung up on about 8.8 million taxpayers during this year’s tax filing season, labeling the act “courtesy disconnects.”

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