If you have filed Business Return Extensions the following Deadlines are looming in near future:
1. C-Corp Tax Return - September 17, 2012
2. S-Corp Tax Return - September 17, 2012
3. LLC - Multi Partner - September 17, 2012
4. Partnerships - September 17, 2012
Tip: Remember it's extension to file not Extension to Pay
For Q & A Call Kash @ (925) 963 4891. Email : Kash @ yajnikandmehta.com
Monday, August 27, 2012
Monday, August 20, 2012
" When To Seek A Tax Professional ? "
In certain situations it is advisable to seek a Tax Professional such as Yajnik And Mehta Associates. While the cost of Tax Professional Service is generally high, the following reasons make it very desirable:
1. When you receive IRS Letter describing the Tax Return Examination Process and referring to Tax matters that you don't understand, or don't have time to address, or you feel a need to be defended in the Tax issues raised in the IRS letter.
2. IRS seeks your response within 30 days. So, the earlier you hire a Tax Representative, the greater the response time for your defense in IRS Audit.
3. Remember Tax Research time is critical in preparing your case defense
4. Recommend open communication with your Tax Representative. Attorney Client Privilege applies to your communication.
5. If the Tax Law Violation charges are Criminal in Nature, you must have Criminal Attorney Specializing in Tax Laws Represent you in Tax Court.
Remember the Adage: " Person who represents himself in court has a fool for a lawyer. "
For Tax Q & A call Kash @ Yajnik And Mehta Associates (925) 963 4891.
Email: kyajnik@yajnikandmehta.com
1. When you receive IRS Letter describing the Tax Return Examination Process and referring to Tax matters that you don't understand, or don't have time to address, or you feel a need to be defended in the Tax issues raised in the IRS letter.
2. IRS seeks your response within 30 days. So, the earlier you hire a Tax Representative, the greater the response time for your defense in IRS Audit.
3. Remember Tax Research time is critical in preparing your case defense
4. Recommend open communication with your Tax Representative. Attorney Client Privilege applies to your communication.
5. If the Tax Law Violation charges are Criminal in Nature, you must have Criminal Attorney Specializing in Tax Laws Represent you in Tax Court.
Remember the Adage: " Person who represents himself in court has a fool for a lawyer. "
For Tax Q & A call Kash @ Yajnik And Mehta Associates (925) 963 4891.
Email: kyajnik@yajnikandmehta.com
Sunday, August 12, 2012
" When Not to Use Low End Tax Software ? "
While low price is the most attractive reason to Low End Tax Software, consider some of the reasons why it might get you in trouble:
1. Multiple states Return Usually Requires more expensive solution because of tax differing treatment of many items in different states.
2. More Complicated Tax Returns usually require Tax Research and customized tax solutions for different tax payers.
3. Tax Tip: When you find that the Tax Program is asking for data you aren't sure of or the Tax Knowledge required to address your tax situation is beyond your scope, it is time to find a Tax Professional to seek the help.
4. When you need to Amend Prior Year Tax Return, the Tax Program gets more expensive.
For Tax Q & A call Kash @ Yajnik And Mehta Associates (925) 963 4891.
Email: kyajnik@yajnikandmehta.com
1. Multiple states Return Usually Requires more expensive solution because of tax differing treatment of many items in different states.
2. More Complicated Tax Returns usually require Tax Research and customized tax solutions for different tax payers.
3. Tax Tip: When you find that the Tax Program is asking for data you aren't sure of or the Tax Knowledge required to address your tax situation is beyond your scope, it is time to find a Tax Professional to seek the help.
4. When you need to Amend Prior Year Tax Return, the Tax Program gets more expensive.
For Tax Q & A call Kash @ Yajnik And Mehta Associates (925) 963 4891.
Email: kyajnik@yajnikandmehta.com
Monday, August 6, 2012
" When To Use Low Price Tax Software ? "
In Some Situations Listed Below, It is Advisable To Use Low Price or On Line Software:
1. For Simple Tax Returns - Students, First Time Job Seekers, First Home Buyers, Etc. it is prudent to buy low end software such as Tax Cut, or Turbo Tax.
2. For Some Self Employed Sole Proprietors, Micro or Start Up Business, Or New Franchises, Industry Specific Low End Software is Recommended.
3. Single State Returns are better processed by low end software.
4. Tax Software Tip: If the answer to a tax question is unknown to the user, Seek On Line Help, or Do the Tax Research to get correct answers. Don't Guess Answers.
5. For Q & A Call Kash @ Yajnik And Mehta Associates @ 925 963 4891.
1. For Simple Tax Returns - Students, First Time Job Seekers, First Home Buyers, Etc. it is prudent to buy low end software such as Tax Cut, or Turbo Tax.
2. For Some Self Employed Sole Proprietors, Micro or Start Up Business, Or New Franchises, Industry Specific Low End Software is Recommended.
3. Single State Returns are better processed by low end software.
4. Tax Software Tip: If the answer to a tax question is unknown to the user, Seek On Line Help, or Do the Tax Research to get correct answers. Don't Guess Answers.
5. For Q & A Call Kash @ Yajnik And Mehta Associates @ 925 963 4891.
Sunday, July 29, 2012
" What Are The Tax Consequences Of Not Filing a Tax Return By Octo 15? "
If you owe money to IRS, The Tax Consequences can be as follows:
1. Failure to File a Tax Return Penalty
2. Penalty For Late Filing
3. Interest Charges on the Payment Owed to IRS.
For Q & A, Call Kash 925 963 4891@ Yajnik and Mehta Associates.
1. Failure to File a Tax Return Penalty
2. Penalty For Late Filing
3. Interest Charges on the Payment Owed to IRS.
For Q & A, Call Kash 925 963 4891@ Yajnik and Mehta Associates.
Monday, July 23, 2012
WHAT TO DO AFTER FILING TAX EXTENSION IN APRIL 2012?
REMEMBER EXTENSION TO FILE TAX RETURN IS NOT AN EXTENSION TO PAY TAXES. IF YOU OWE TAXES, IT IS BETTER TO FILE TAX RETURN AS EARLY AS POSSIBLE TO REDUCE THE INTEREST CHARGE. A SECOND EXTENSION IS NOT AVAILABLE. eFILE TAX RETURN BY OCTO 15, 2012.
FOR Q & A CALL KASH @ YAJNIK AND MEHTA ASSOCIATES 925 963 4891
FOR Q & A CALL KASH @ YAJNIK AND MEHTA ASSOCIATES 925 963 4891
Monday, July 16, 2012
DID YOUR CORP. FILE EXTENSION?
WHEN THE S-CROP. , C-CORP FILES AN EXTENSION BY MID MARCH, THE 2011 TAX RETURN NEED TO BE FILED BY SPT. 15, 2012. A SECOND EXTENSION IS NOT AVAILABLE. IT IS AN EXTENSION TO FILE NOT EXTENSION TO PAY IRS.
FOR Q & A CALL KASH @ YAJNIK AND MEHTA (925) 963 4891
FOR Q & A CALL KASH @ YAJNIK AND MEHTA (925) 963 4891
Subscribe to:
Comments (Atom)