Autor: frank.rosillo

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…

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…

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…

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…

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,…

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…

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…

For federal tax purposes, an organization is exempted from taxation, if it is organized and operated exclusively with the purpose to promote or assist a particular social cause. To be exempted the organization must apply to the Internal Revenue Service…

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…

United States Citizens and/or taxpayers who has authority over assets, including a bank account, brokerage account, mutual funds, trust, or other type of financial accounts located outside of United States aggregating to $10,000 during the calendar year must file the…