Kamis, 18 April 2013

Can I download federal or state estate taxes?

“I heard you can download my fiscal debt, is it true?” The previous question is one that often arises in our Utah bankruptcy practice. Federal and state income taxes are eligible for discharge under Chapter 7 or chapter 13 of the bankruptcy code under certain circumstances.

Chapter 7 bankruptcy is a complete download of eligible debts. Chapter 13 bankruptcy is a debt consolidation and a partial refund of dues for a period of time; then eligible debts that are downloaded are paid after completion of repayment plan. As a result, under Chapter 7 or chapter 13 can be exhausted, provided that the requirements are met for the discharge.

There are five rules that determine the dischargeability of tax liabilities:

The deadline for submission of the tax return is at least three years before the bankruptcy filing.
The tax returns was “filed” at least two years before the filing of the application for bankruptcy.
The assessment of the tax is at least 240 days (starting from the date of filing of the application).
The tax return is not fraudulent.
The taxpayer is not guilty of tax evasion.
First, the tax debt must derive from a tax return that was caused by at least three years before the filing of the bankruptcy petition. This requirement includes all extensions. So if presented to an extension, calculates the period of time from the expiration date of the extension.

Secondly, the debtor has filed a return. This requirement is met when a debtor is involved (provides information and documentation) or signs on a return, pursuant to Internal Revenue Code section 6020 (a). This requirement seemingly does not include, however, a return filed in service pursuant to Internal Revenue Code section 6020 (b) where the deposit is not made with the cooperation of the debtor and is based on information obtained from tax authorities on their own.

Thirdly, the taxing authority must assess the fee at least 240 days before submitting the petition. That’s when the tax authorities Submit that is a notice of assessment or the IRS issues a certificate of assessment.

Fourth, the tax liability is only corroded unless fraudulent return file.

Fifth, the tax liability can not be downloaded if you are guilty of intentionally trying to evade taxes.

If you are satisfied with the five requirements listed above, the fees are corroded. In some cases it may be advantageous to wait to file the bankruptcy petition until the tax liabilities are corroded. If taxes are not corroded, but the debtor can’t wait to file for bankruptcy, chapter 13 bankruptcy may provide additional benefits for managing tax debt. To evaluate a particular situation and determine the dischargeability of tax debt, you should consult with an experienced bankruptcy attorney.

No Soliciting

This is the message given to most people who approach my front door. There are many others as well that have such a warning posted. Does it help? Not really. It is largely ignored by most people who come through my neighborhood. Of course, mine is not an isolated incident as I hear reports from many people that solicitors just pretend they did not see it or that they just flat out ignore the message. There is a reason too that this message is about as pointless as posting a sign on your door that says, “Zombie Apocalypse Approaching!”. That reason.. money!

About 15 years ago I had a sales job that among other tactics, required a bit of door to doors sales of small businesses. When one gentleman in my group inquired about the “No Soliciting” signs and stickers, we were told to just ignore them. The instructor told us that most people put those up forget about them or they were there when they took ownership and they just did not remove them.

“If someone points the message out to you, just apologize and move on, but there is no reason to ignore a possible sale because of a sticker”.

While this made sense to me at the time, now that I am seemingly plagued by these door to door salespeople at my home it is more than a bit annoying. So what can we do to fix the situation? Is there anything we can do, or do we have to take this to City Hall or some other code enforcement entity? Sometimes, if the mood presents itself, I will have a bit of fun with them. Much like the occasional telemarketer. Problem is however, these people are coming to my home. Knocking on my door. Wanting to sit there and talk with me while just 5 minutes ago I finished dinner and was just about to relax for a minute before the kids decide Dad has sat down long enough.

Recently the biggest offenders in my part of town have been Comcast. I have a personal issue with Comcast, but I think I will save that for another day because in the end, don’t we all? I will make one complaint here about their outside salespeople however, since I have the floor. You would think that they would send them out with some sort of information about the people they are trying to sell to. Maybe a list of current subscribers, or what services people have so they could try and sell add-ons. Instead, they came to my door as if I have never been a customer and knew nothing about the services they offered. Not only did that make me a bit upset, but I was offended that they apparently do not care enough about me as a customer to try and make my service better.Â

Why do we have so many solicitors? Well, because we have a friendly and rich city. It is no big secret that people in St. Charles and Geneva are for the most part, well off. Or at least most are above the national average for household income. I am on the other side of that line however so I don’t know why they bother me.. oh yea.. because I live here.

What about our local laws and ordinances, are they “solicitor friendly”? Actually, our local laws regarding this are pretty standard. The ordinance states that it is up to the residents to determine if a solicitor or peddler shall be invited or not. This means, and it is backed up by the context of the law, that if we say “No Soliciting” or “No Peddling”, they have to obey.

The Geneva Municipal Code, Title 4-Chapter 8-Section 5 deals with the “Uninvited Solicitor” and the penalties involved. Keep in mind that the “Uninvited Solicitor” is one that ignores a posted sign or tries to otherwise gain the attention of the resident with the intention of selling something to them. This appears to me to be about 95% of the people I have encountered in my time living in Geneva. What about you?

So what are the penalties for such a nuisance (as they are referred to)? The first offense is a $50 fine, the second (within a 72 hour period) is $100. The fine doubles every 72 hours from there. Without such a penalty there is nothing stopping these people from engaging in this practice. I fear that most residents of Geneva are not aware that it is illegal to solicit door to door if you have previously made it clear that you do not wish to be bothered in this manner. Unfortunately none of this will stop unless people start acting on the law and force some of these companies to pay the fines. The penalties levied against such perpetrators is one that will hit them right where it hurts, their wallet. I would not think that a solicitor would continue to bug a homeowner after the first fine however. If they did, the second would surely stop them.

Now we ask ourselves, “is it really necessary to call the police or otherwise cause financial penalty to be sought”? That depends on how you feel about what is happening and whether or not you are bothered by it. Consider why we have so many in our neighborhoods for a minute. Then you can decide if it is better to just shoo them away or try and put an end to it for good.

So what or who we are dealing with. There is big push to help grow local small businesses and I have no qualms with that, in fact I support it. Last year I was solicited twice at my home from a local financial firm asking if they could help me with my retirement. Needless to say, I am not about to discuss my finances with someone who comes to my front door, but I am not about to call the police on someone who is polite, does not push for a sale when I say no, and does not come back over and over again. Ok, this is one type of solicitor that I have seen lately, what about the other?

You should have seen them at some point over the last couple of years, mostly during the summer months of course. They are dropped off on your block by someone in a van or a car, 4-5 deep. They spread out and attack a 2 mile radius before anyone knows what hit them. They sell anything from magazines and newspapers to cooking supplies and cheaper natural gas.This is a coordinated effort and one that is used because not only does it allow them to cover more area in the least amount of time. But because they want to be in and out quick. They know that they are normally not welcome and they have dealt with local police before. Last year I had a discussion with one of our fine Geneva Police Officers and they were all too aware of the “out of town peddlers”.

The issue that I have with these people is not necessarily their warez, but rather where the money goes and how they go about getting the sales. Most of them are inner city kids or young adults. They sell magazines and newspapers with the guise that it is going to help them get to college or some other academic program that costs too much money for them to attend. They hit you with the oldest sales strategy in the book – guilt and sympathy. If you feel sorry enough for their plight you just might buy something. Have you ever taken the time to really examine their product catalogs? They look like they are on their last legs and have been used by what could be hundreds of previous salespeople.

They often hit you with, “your neighbor just signed up for 3 issues” or “I am only a couple more sales away from hitting my goal”. The best part about some of these people is their use of the English language. I probably shouldn’t get a chuckle out of it but I do. I cannot help myself because they are trying so hard to sound professional, but they struggle putting together a simple sentence. Especially when what they are telling you is a flat out lie. Furthermore, you can usually tell that they have been coached by people who are experienced salespeople because they will not take the first “no” for an answer and usually have a quick rebuttal for your first rejection.

One of the biggest problems with the whole scenario is that in most cases, you stand a good chance of not getting what you ordered in the first place. I have looked at a couple of the sheets when they claimed that “my neighbors” signed up or bought something. I did not recognize any of the names on the sheet. Of course I don’t know everyone, but you would think that if the address matched someone I knew, that I would at least see the name of a friend. Instead it was obvious that the name on the order form did not match that of the person who lived at the “claimed” address. You have to be leery of these so-called salesmen, in most cases this is a scam.

The best thing that you can do to protect yourself is to first get a No Soliciting sticker or card. A simple 3″ x 4″ card that indicates your determination to not be bothered. Place it near the front entrance of your residence, and you will be protected by law. Should you be bothered because someone has ignored your message you then have every right to call the police. However this is entirely your choice. I only suggest that you exercise a little bit of common sense in this type of situation. In some cases you will be targeted a couple of times in a 3 day period because they are canvasing your area in the hopes to make as many sales as possible. If this happens you might want to call the police because they are probably claiming to be working for a charity and none of it is true.

Use your best judgement. Talk to your neighbors. Do not let yourself fall victim to any type of scam or theft. It is a bit more common than you might think. Remember, you are protected by the law in this case and if you need to utilize it then do so. You have every right to enjoy the privacy of your own home.

Book review: the path of the law

Title: the path of the law

I agree-title: learning, understanding and mastery of the right

• Author: Oliver Wendell Holmes Jr.

Publication date: 2009

• ISBN: 978-1933230-08-5

Introduction

The thoughtful reader of the path of the law will enjoy the feeling of having her side a guide, philosopher and teacher who guides him carefully to learn, understand and master the law. To read and reread this book is to experiment taking a great master some of the things I learned and become excited about the subject too.

The path of the law presents the conclusions drawn from Holmes after more than 30 years of observation, thought and the practice of law. He probably wrote this essay to further discuss began in his most famous publication, the Common Law. The way the law was written not as a manual on the practice of law, but a manual to show students how to think like a lawyer; What does it mean to be a good lawyer; and what does it mean to have a successful law career.

What is this book?

Of course, many changes and improvements have taken place in the legal profession and legal education since Holmes wrote this essay in 1897. But in this book, Holmes isn’t concerned with the practical learning minute details on the law: “the theory is my subject, unfamiliar details. Have been improved the teaching mode from my time, but the ability and industry exceeds the material in any way. Theory is the most important part of the doctrine of the law, as the architect is the most important man who participates in the construction of a house “.

Who is Holmes?

Holmes was able to talk about American law with great authority. After graduating from Harvard with his law degree, he taught law. He served for 20 years on the Supreme Judicial Court of Massachusetts. Then he was appointed to the United States Supreme Court as an associate justice, where he worked for 30 years. Despite his fancy titles and very extensive experience, Holmes never speaks to the reader of this book. Holmes ‘ obvious love of the law and his desire to help others understand this attraction comes through loud and clear reader. Holmes uses many examples to understand everything the essay to make the point.

The “bad man Theory” and “Morality vs law”

The quality and simplicity of writing Holmes is reason enough to attract readers-especially law students. His illustrations are obviously chosen from the extensive experience and are as vivid images flashed on the screen in thumbnail. Everyone’s favorite illustration is usually Holmes ‘ explanation of his “bad man’s theory”. Holmes explains that a bad man has as much reason as good for wanting to avoid a meeting with the public force, and then you can see the practical importance of the distinction between law and morality “. In other words, a bad man will want to know just what material will the consequences of his behaviour; He will not be motivated by morals or conscience. This example sets the stage for most of the book. Holmes puts a lot of effort to give examples of differences between law and morality.

History and tradition

A large portion of the book discusses the importance of history, or tradition, as an important part of the study of law. Holmes tells us that “the rational study of the law is still to a large extent the study of history. History should be a part of the study, because without it we cannot know the exact scope of the rules that it’s our business to know. Is a part of the study rationale, because it is the first step towards an enlightened skepticism, namely towards a deliberate reconsideration of the value of those rules. ”

This book is not exceeded?

The hurried reader might assume that this book was written a long time ago of any practical use for modern law student or a lawyer. But a careful reader will quickly realize that Holmes has a lot to offer us today. Holmes resumes his whole book in two short paragraphs:

“Take it for granted that doesn’t listen to my you misunderstand what I say as the language of cynicism. The law is the witness and external deposit of our moral life. His story is the story of the moral development of the breed. The practice of it, despite the popular pranks, tends to make good citizens and good men. When I emphasize the difference between law and morality to do so with reference to a single purpose, to learn and understand the law. To do this they must master his specific marks definitely, and for that I ask you to imagine yourself indifferent to major and other things. ”

Selasa, 16 April 2013

5 fun tips: how to save money at work

We’ve all heard the old adage: “you gotta spend money to make money”. But when you add the money for gas exchange, run your Starbucks mid-morning, and wardrobe costs, sometimes, get a job and get through the workday can be a charge in its own right.

But though it may not seem like it, saving money at work can be easy, and if you play your cards right, it can also strengthen labour relations and build Office morale. Here’s how.

Start an Office Potluck Club
Everyone knows that one of the easiest ways to save money at work is to prepare and bring your own lunch. But after endless weeks of PB & J and tuna sandwiches, it’s easy to throw in the towel and head out to something that is warm, satisfying and probably expensive.

Why not kill two birds with one stone and start an Office lunch club? As popular dinner clubs that have sprung up across the country, and any affected employees would sign up for preparing lunch on different days throughout the week. Your day, you’re liable to make enough food for everyone in the group. The trade-off is that you get a free meal, prepared by the other four days of the week! In addition to saving yourself some serious cash, lunch is a great way to take a break from the grind and get some face time with your teammates.

Groupon power channel
Office happy hours and parties out of Office are important to celebrate the milestones of the company, reinforcing the relationships between employees and building morale. But tough economies like these, can add the cost of these excursions in a hurry. Instead of asking employees to shell out extra cash or canceling these events altogether, Groupon power channel for your business events. [http://www.groupon.com/]

Groupon posts different offers throughout the day-most of which are for restaurants, lounges, pubs and other social venues, and your colleagues can buy into a group. Key to access Groupon savings (ranging from 50 to 90 percent) is to get a group of people to buy into a deal, make their offerings perfect for Office teams.

Organize a party wardrobe swap
Let’s face it: keeping a business wardrobe can get expensive. And no matter how much care you care for clothes, sooner or later should upgrade. But the next time you need a new skirt or skirt, don’t pull out that credit card. Organize a party wardrobe change instead.

Wardrobe change parts work like this: you invite your colleagues, friends and family to a room of your choice. Everyone is asked to bring some gently used clothes (like the Banana Republic Turtleneck that was too small for you, but it was on sale so I bought it anyway). Guests can then try on other items and to select a few that work. You get to clean your closet, get some new elements and save money. It’s all about a win-win.

Start a gripe Penny Jar
There is an Office pet peeve that you and your co-workers joke? Everybody laugh when Bob takes up the last of the coffee or Suzy jams the machine copy for 50° time? Open a can of “gripe”. Like a jar of “oath”, employees are encouraged to put $ 1 in the pot each time you commit a specific crime. When it is full, use the money to treat the entire Office to pizza or lattes.

Buy wholesale
Everybody needs a little snack to get through the day. But these extras-a coffee here, granola bars-you can add quickly, especially when you are buying on impulse to the expensive drug store across the street.

If you need these little extras to get through the day, find people with the same tastes as you and buy in bulk from Sam’s Club or Costco. Of course, a 50-pound bag of coffee might go stale before you use it all, but if everyone contributes and therefore, you divvy enough to last for several weeks. And with lattes Starbucks costing about $ 3 a pop, buy wholesale can save some money.

What is In QNUPS?

QNUPS is a pension plan that provides you with a series of choices. There are many aspects that you need to be aware in order to make the most of the schemas.

While you are thinking about QNUPS, what exactly will? Well, the kind of investment that you want to do will help you decide on that. This non-UK programme Board lets you choose from a variety of schemas.

When it comes to taxes, surely you want to pay as little as possible. After all, who wants to lose the richness of a tax? Will be glad to know that you can exempt the much debated concept of paying inheritance tax when you choose to make your investment in QNUPS. HMRC has itself stated that it is free from the clutches of the IHT. Inheritance tax was considered a pain for most people UK for a long time. Therefore, the scheme is really a relief to most of them. However, if you are a non-resident, must take into account the State inheritance tax in the country in which the pension is based.

Take the help of a qualified lawyer. He will be able to guide you in this respect and help to understand your needs. It is possible that local taxes and laws of succession can be circumvented with this schema. Might as well do away with the tax gain easily. It might be tempting to consider exotic goods class that QNUPS has to offer. Might also be attracted to choose pedestrian activities in your offshore pension scheme.

QNUPS allows you to think about finances and your property when you are very much alive. Allows more freedom to plan your money more systematically and enjoy the benefits. This is where, it is vital that you seek advice from an experienced professional because you must understand the position from the point of view of Britain, as well as the regime’s domestic jurisdiction.

The trend says that foreigners, as well as retirees are beneficial and attractive offshore schemes. You must be interested in knowing where you are putting your retirement funds and what is the procedure to follow to pick it up when you are in need. Well, there’s no upper age limit and can keep putting your contributions; but you must ensure that the rules governing the QNUPS about it.

There are other advantages associated with it. For example, lets you bypass the rigors of DTA or double taxation agreement and you have a better choice of countries to select from. Moreover, it is not necessary that the investment you make must be income earned; can be from any source whatsoever. QNUPS is a flexible plan that helps you plan your retirement and save your heirs from the burden of IHT.

Emergency relief-debt because bankruptcy should always be considered as the last option

If you are in a hurry to get rid of your debts at a glance you might get the idea that bankruptcy is the best method that can help you in it. But you are in the dark! Now you should be aware of the defects of failure that is always advised to avoid. If you upgrade your car with the latest trends relating to debts, must already learn about it.

If you are going to file bankruptcy, you have to go through a court declaration and will take your financial situation and convince creditors to eliminate your debt. But you don’t want to accept it in the empty hand. Some how they want to get their money back. Is right for them that they spent on you and they are never ready to let you go out without paying them back. There to take your claims as a weapon and try to ensure their money.

For this purpose will be peep in to your claims as a method how can replace your debt. So it is at risk of losing all of the property is the value of them to replace the debt. So why take the risk when you have other options?

Nowadays, debt settlement has proven to be the best and most effective way to eliminate debt. You can just go to a site and have the ability to reduce the debt by 50 to 70 percent of the original amount. Surprisingly lenders are prepared to accept such plans submitted by the companies claimed.

There is up to you to select a company well-known and established for a dinner service. Then you will have to pay the debt in installments and that it will be easier for you to lose all your claims and restarting their lives.

Senin, 15 April 2013

Learn the basics and general information on the income statement

In this article, we will discuss the specific details of the income statement. Will include the General format. Also, identify its purpose. More specifically, I will make a comparison between the purpose of this document the purpose of a balance sheet. In addition, I will describe its different aspects, in other words, consists of an income statement.

To begin, compare the purpose of a statement of income for the purpose of a budget. An income statement is essentially a report of earnings or a loss over a period of time. On the other hand, the purpose of a budget is to review a company’s financial position at one point in time. For example, a company will produce a budget at the end of each month, or at the end of each quarter, depending on the system by which a company chooses to operate.

Now I would like to discuss the allocation of a profit and loss account. Identifies specific aspects of this document and as financial aspects are related, as well as illustrate the General format. The top of the income statement is usually where you will find the name of the company. In addition, positioned at the top of this document will be the words “income statement” beyond the time when the information shown on this budget are valid. For example, if Google Inc. had to make a statement of income, shown at the top of the document would be the words, “Google Inc.” Directly below the name of the company would be the words, “Declaration of income.” If the document provided accurate financial information to September 2010, the words “For the month ended September 30, 2010″ would appear directly under the “Declaration of income.” Typically the name of the company would be bigger than words “income statement”, as well as an indication of the time that was intended to reflect the financial information.

The essence of this is financial report expense subtracted from income. However, this format is used only for a loss of pace. Before discussing the substance of a statement of income in multiple passes, I will look at further single-pass version of this document. Revenue, included in this budget are often subdivided and classified into different sections. For example, revenue can be divided into rental revenues and net sales, or even taxes, depending on the operations of the company that produces the report of landscaping. To be more specific, the amounts associated with each type of income will be placed in the account as a credit. In addition, a company’s costs will be, in most cases, be divided into several categories. For example, each company will have an insurance expenses and salaries expenses. Depending on what type of business the company deals, each holding costs section will look very different, displaying multiple categories, dedicated to different types of expenses. Unlike in the revenue amounts associated with each charge will be placed on the account as a debt. After each section of the income statement (revenue section and the section of expenditure), would be accumulated and totaled categories created to reflect the different types of income and expenses. Appears at the bottom of the revenue section, the words “total revenues”. Following the same method of revenue section, at the bottom of the grocery section, the words “expenses” appears. As respected categories of each section, in which revenues and expenses are divided and separated, the totals are also debited or credited accordingly. For example, “total revenues” is credited with the account, while “expenses” is debited the account. To complete this legislative financial statement, at the bottom of the document, there will be a section called “net income” or “Net Income/loss.”

To end this article I will explain briefly the basics of an income statement in multiple steps. This specific type of financial relationship is very different from the income statement format step because most income declarations steps separate the revenues/operating expenses from non-operating income/expenses. Moreover, “gross profit” that appears in this version of the document, calculated by subtracting the cost of goods sold from net sales. Gross margin is credited to the account. Step by step and multi-step income statement, however, share many similarities, including the format of the header in the document, as well as the applied system of debts and credits.