Consulting can help a business by examining existing problems, developing solutions and identifying best practices. Consulting can also be targeted to one segment of the business like taxes or information technology.
The Fair Tax Bill was first introduced in July 1999 and was re-introduced in early 2003 by U.S. Representative John Linder. The Bill repeals all federal personal income taxes, corporate income taxes, payroll taxes, self-employment taxes, capital gains taxes, gift taxes and estate taxes. In place of the repealed taxes, there would be a 23% national retail sales tax on all retail sales of new goods and services. Let us explore some of the elements of the Fair Tax Bill.
Withholding money from your paycheck is part of our “pay as you go” system for paying income tax. Generally you want to withhold enough to cover 90% of your tax liability.
If you do not want to wait 39 years to deduct the cost of your commercial building, a cost segregation study can classify some elements as personal property.