Category: Tax Planning

Tangible Personal Property Deadline

By frank.rosillo - 03/31/2017

Due April 1st, 2017 Tangible Personal Property (TPP) refers to everything other than real estate, that is used in a business or rental property, and whose chief value is intrinsic to the article itself. Generally they are your business assets,

Posted in Tax Planning

Six Reasons to hire a licensed Certified Public Accountant (CPA)

By frank.rosillo - 03/16/2017

Sometimes business owners try to do it all by themselves thinking that it could help to keep the budget low. As business owners we all can relate to “keeping it on a budget”. However, there are circumstances when it is

Posted in Tax Planning

How to save money on taxes?

By frank.rosillo - 03/14/2017

It is officially tax time! There are only two viable options: either face it and file taxes on time, or procrastinate on it longer, by asking for an extension. If you do choose to “procrastinate on it” make sure to

Posted in Tax Planning

5 Tax Planning Mistakes to Avoid

By frank.rosillo - 03/13/2017

A person jumps over the word Risk to symbolzine avoiding danger or hazards and being careful and prepared to overcome dangerous obstacles

Tax planning is essential to keep up with tax obligations deadlines. The question is: where does tax planning start?  Tax planning starts with the bookkeeping records. Proper bookkeeping is the foundation of accurate and successful tax planning; for this reason

Posted in Tax Planning

How to Avoid Tax Penalties

By frank.rosillo - 03/10/2017

Failure to comply with the tax law could end up in tax penalties. Taxpayers could face several penalties for non-compliance of the Federal, State, County and City tax requirements plus interest charged in addition to outstanding taxes assessed; which could

Posted in Tax Planning

Four Tax Planning Tips for Successful People

By frank.rosillo - 03/10/2017

Portrait of happy young friends touching the glasses with each other

Tax planning is the process of analyzing the financial situation from the tax point of view, to be able to estimate the tax liabilities and formulate ways to ensure tax efficiency. In simple words tax planning is the art of

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International Tax Filing: Non-Resident vs. Resident

By frank.rosillo - 03/03/2017

Various flags isolated on a white background.

Resident (RA) vs Non-Resident (NRA) Tax Filing For tax purposes U.S. tax law treats U.S. persons and foreign persons differently. So, it is relevant to distinguish between these two types of taxpayers. Resident or United States Persons:   In tax law,

Posted in Foreign, Multi-National, Tax Planning

Saving on the Cost to Prepare Your Not-For-Profit Tax Return

By frank.rosillo - 03/02/2017

Tax preparation in general could imply to set aside lengthy periods of time. It is not different for a non-for-profit organization. As it should be, members’ passion and energy could direct them to focus on building the mission of the

Posted in Non Profit, Tax Planning

Five Ways to Stay on Top of Your Taxes

By frank.rosillo - 03/01/2017

Enlarged eye of tax inspector looking through magnifying glass, inspecting offshore company financial papers, documents and reports.

Whether you are ready or not, taxes must be filed and paid at their due dates.  Mark your calendars with the following tax deadlines for the first quarter of 2017. March 15: partnerships and corporations 2016 income tax return; April

Posted in Tax Planning

Managing Estimated Tax Payments and Cash Flow

By frank.rosillo - 02/27/2017

If you own or run a business you must add to your quarterly tax activities the estimated tax payment as requirement to comply with the federal and state tax law to avoid penalties from your tax authorities. The rule is

Posted in Tax Planning