The IRS Dirty Dozen Tax Scams: Fuel Tax Credit Scam

The IRS Dirty Dozen Tax Scams: Fuel Tax Credit Scam

Each year, the Internal Revenue Service releases a list of the 12 most popular tax scams for the year. The 2008 list is out,
and I thought it would be fun to go through them individually to show
you how criminals are trying to take advantage of taxpayers. The basic
idea behind all of these scams is simple: prey on a taxpayer’s fear of
the IRS or their desire to avoid paying taxes.

Use the
information here to help avoid being taken advantage of by a scammer
who wants your money. And use this basic rule of thumb for any offer or
communication regarding taxes: If it sounds too good to be true, it
probably is. Don’t get fooled by claims regarding mysterious refunds or
tax bills. When in doubt contact the IRS directly for help with your
situation.

The federal government has a tax credit program related to certain nontaxable uses of fuel. This credit is most often legitimately used by farmers, as it was intended to be used. But there are scammers out there who may convince you that you can also claim this credit, even when you don’t really qualify for it. Be careful to
follow all the rules related to this credit, and when in doubt, contact a reputable tax professional to help you determine if you legitimately qualify for the fuel tax credit.
 

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Taking Stock of Sensitive Functions – A Crisis Management Technique

Taking Stock of Sensitive Functions – A Crisis Management Technique

There are activities in every company that, if scrutinized by an adversary during hard times, have the ability to make management seem like it has been less than astute.

This is probably more sensitive in small cap companies than in privately/closely held organizations. In large cap companies, they don’t even amount to financial statement footnotes.

When management senses that difficulty could be on the horizon, it might be a worthwhile investment to do some introspective anomaly hunting. The opportunity to purge what you would be embarrassed to have an adversary use against you long before trouble actually became a present tense event is a blessing. Almost no one ever does this. The reasons are that no one ever thinks of doing it and that it can be politically sensitive.

Most folks go through their files and “clean them up.” They usually do this too late in the game, when it is clear that files disclosure is in the immediate offing. This can be catastrophic, as Arthur Anderson found out in the context of Enron.

Files cleansing is only part of the “let’s get ready to rumble” project. It has to start a lot earlier than it usually does if it is to be done lawfully. Think of it as something to be thought about when the first hair stands up on the back of your neck.

But files cleansing is just part of the project. Think of all the things that happen within the company’s regular activities that are not subject to accusation in good times, but that have the ability to make management look less than astute in leaner times.

Then think of all the people who know about these items who could become informants to/subpoenaed by an adversary were such an event to become real.

It sometimes helps to be a bit paranoid. There are areas of inquiry within the company that you probably won’t think of. You may wish to consider having your own phantom adversary strategize for you how such an assault might play out, and assist you to prepare for it when the preparation itself won’t become part of the accusatory litany.

If you have done this once, you probably will want to make it a periodic re-check just so that you are aware of weaknesses in your armor at an earlier stage.

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How Will You Measure Success?

How Will You Measure Success?

New entrepreneurs obviously expect some degree of success or they wouldn’t have started businesses. The business community generally views a successful firm as one that generates significant revenue, leads its market in some way, and is profitable.  But not all entrepreneurs aim for wealth and pre-eminence. Success has to be relative to some set of goals, and different business people have different goals and priorities.

Goals are essential to defining your success, and frankly, goals can’t be vague. They need to be measurable in some terms — numbers associated with volume of sales, profit margins, market share and so on — and accomplished within a given timeframe. If breaking even after taking a modest salary is what you want, that’s OK. Just have a goal for when you’re going to accomplish that.

To some people the goal can be as simple as a happier lifestyle — perhaps working in a field that is truly rewarding or working close to home to enable spending more time with family.  OK, how do you measure that?  I measure my own success in part by eliminating 15 hours/week of commute time by starting a business that operates out of my home instead of a long stressful daily commute to an employer. For you it could be lowering your blood pressure by 20 points.

The important thing is being clear on your goals and, in fact, ranking your goals according to your own priorities. Then find some way you will be able to measure your success against these goals and identify a date when you can reasonably achieve them. You won’t be successful, by anyone’s definition, over night.  But if you check your progress against your goals regularly and keep moving in the right direction, you most probably will achieve success in your own terms. Whose terms matter more than yours?!

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About metals – how can you use them?

About metals – how can you use them?

Home » Starting a business » About metals – how can you use them?
November 18, 2016 Frank Bullock Starting a business
When it comes to building things, some of the most important and common materials which are used by people are metals. In fact, metals are chemical elements with physical properties such as the fact that they can take a solid form at a regular temperature or that they are very good conductors of electricity. But what about using metals in your own house? Haven’t thought that this can be done in a creative way? Well, it is. And if you want to know more about this particular subject, you should read about it on buymetalonline.co.uk. Also, here are some good tips that we would like to suggest you. You can do them by using some handmade techniques. Or if you think that you do not have the necessary time to do so, you can try buying them.

Make your own hanger by using metal

 

Firstly, this hanger will prove very resistant. You can use it for all of your jackets, overcoats and so on. Secondly, it can prove a very elegant choice. Our advice is trying to paint it in black, in order to be matched with the rest of the furniture from your house.

What about making your own lamp?

 

You can use metal for creating an amazing lamp for your house and garden. It can be also considered a smart choice, due to the fact that it can make your place look vintage. Just think about those summer evenings when you can sit in your own garden and enjoy the fresh air. Moreover, a lamp is capable of producing the exact type of light that you need.

Invest in a magnetic board

 

Unfortunately, it is kind of difficult to create your own magnetic board, but you can buy one. And trust us when we say that it is a very useful investment, due to the fact that can be used for planning your activities. You can put it in your home office or in the conference room, if you are the manager of a company.

An elegant flower support

 

Are you a flower lover? Do you want the best for your orchids or magnolias? Why don’t you create a metal flower support where you can arrange them? And don’t forget to put it in a place where the flowers have enough light. Also, you can use metal for creating a support for your bottles of wine. And if you are a wine collector, this thing is even more important. Moreover, you will have to take into consideration the fact that many metals such as aluminium are corrosion resistant and this is the reason why a lot of tools or types of equipment are made by this particular material.

Do not forget about recycling!

 

Using metals in a creative way is a good option for your house, but you should not ignore the idea of recycling. This is the reason why you should think about some good ways of recycling them. Firstly, you can try to reuse the pieces of metals, and if you cannot, because of the fact that they are too deteriorated, you should try to donate them to a company that deals with this stuff. According to specialists, there are even companies which are able to pay those who give them metals, but usually we are talking about large quantities.

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Why should you recycle your scrap metal?
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How can a tax investigation specialist help you?

How can a tax investigation specialist help you?

Home » Business Tips » How can a tax investigation specialist help you?
August 16, 2016 Frank Bullock Business Tips
Many small businesses believe that only large corporations are the target of the HMRC, but this is not always the case. If a tax inspector has contacted you, and an investigation will be targeted towards your small business, then perhaps you should hire a specialist to help you through the entire process. Although frauds or tax evasions might not be the issue in your case, tax investigations are more complicated than you would expect, and it will come in handy to receive the advice of someone who has been working in this area for a long time. Here are the main reasons why hiring a tax investigation specialist could be a wise decision:

Avoiding the strain and stress

Firstly, if you have never been through a tax inspection in the past, then you are probably under a lot of pressure and stress. You probably do not know what to expect, and all your time and energy is directed towards this problem. Get your life back on track, and focus on your core business activities by leaving this issue in the hands of a pro. You will avoid the stress that comes with a tax inspection.

They have extensive experience

A specialist of this domain has sufficient past experience, meaning they have dealt with various types of tax enquires, from fraud investigations to simple checks. A vast experience gives a professional the skills and abilities necessary to handle and manage the entire investigation on your behalf. Due to their thorough knowledge of the HMRC system and tax legislation, they will manage to use and interpret the law to your advantage.

Coming up with effective tactics and communication skills

Due to their qualification, experience and expertise, such a specialist will help you come up with the best tactics and communication skills while facing the tax investigator. They will advise you on how to reach a settlement, and which action plan could be the best option in your particular situation.

As you can see, resorting to the services of an experienced tax investigation specialist can prove to be extremely useful, allowing you to avoid a lot of stress and complications. If you have been targeted by the HMRC, do not worry, and just search for the right specialist to provide you with some professional advice and guidance. You will take care of the issue in no time is you choose to have a pro by your side.

More Business Ideas

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