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Sowing More Big Government with the Farm Bill, by US Rep. Ron Paul
2008-06-02 07:00:00 Recently Congress sent the latest Farm Bill to the president. The bill features brand new federal programs, expansion of existing subsidies, more food stamps and more foreign food aid. This bill hits the taxpayer hard, while at the same time ensuring food prices will remain elevated. The president vetoed the bill, citing concerns over its costs and subsidies for the wealthy in a time of high food prices and record farm income. Nevertheless, this over-reaching, government-expanding Farm Bill will soon be law. The truth is most farmers simply want honest pay for honest work. However, if the government is providing competing farms with advantages, and one wants to remain a farmer, one must seek a proportional advantage from government. It is a difficult position for the farmer. Some are better at qualifying for taxpayers? largesse than others as evidenced by the fact that more than 60% of the subsidies go to just 10% of recipients, edging out the small family farm. This entir...
Salute to Veterans, by US Rep. Ron Paul
2008-05-27 07:00:00 Most of my efforts on Capitol Hill are focused on reducing the federal government?s size and scope, but I make an exception for a very important group of people. Our nation?s men and women in uniform commit a selfless act of patriotism when they take up arms in defense of our country. As a veteran myself, I salute all those currently serving, or who have served in our armed forces. Our nation owes them a debt of gratitude for their sacrifices, their courage, their time away from friends and family, and the dangers they undertake. This Memorial Day we honor our soldiers and vets, we remember those who never came home, or who have since passed on. Above all, we acknowledge our respect for all who have served in the military. Congress has considered several bills this past week that would affect veterans. Many of the measures are very positive. I applaud efforts to shore up health care for veterans, and make sure that veterans know about the services available to them. I stron...
The Economy: Another Casualty of War, by US Rep. Ron Paul
2008-05-18 07:00:00 This week, as the American economy continued to suffer the effects of big government, the House attempted to pass two multibillion dollar "emergency" spending bills, one for continued spending on the war in Iraq , and one increasing spending on domestic and international welfare programs. The plan was to pass these two bills and then send them to the president as one package. Even though the House failed to pass the war spending bill, opponents of the war should not be fooled into believing this vote signals a long term change in policy. At the end of the day, those favoring continued military occupation of Iraq will receive every penny they are requesting and more as long as they agree to dramatically increase domestic and international welfare spending as well. read more
Basic Bookkeeping Principals
2008-05-07 23:19:00 A client who’s recently set themselves up in business has been confused by information his accountant gave him. “Don’t worry about having a seperate bank account for your business”, he was told. The Australian Taxation Office recommends that you should pay for business purchases from your business account wherever possible. These days that may mean EFTPOS ...
BAS Service Providers Rule (ok?)
2008-05-02 07:24:00 On 15 April 2008, the Australian Treasury contacted members of the Bookkeeping Industry Group (BIG), regarding the Draft Tax Agent Services Bill. The proposed Bill calls for the introduction of a National Tax Practitioners Board who, among other things, will oversee and regulate the supply of BAS Services to the public. As we’ve discussed previously, ...
ATO Targetting Executive Share Options
2008-05-01 06:40:00 In an interview on Radio National on 1 May 2008, the Treasurer, Wayne Swan, indicated that the Australian Federal Government will be targeting executive share options in the upcoming May Budget. He said: “Well, there’s been a loophole in the system, Steve, where those with the shares who are predominately higher incomes earners and people who’ve ...
[Hero] Calif. college students protest proposed beer tax: ?No taxation on i
2008-04-27 03:57:00 CBS13.com - CBS Sacramento
Double Trouble of Taxation, by US Rep. Ron Paul
2008-04-20 07:00:00 Taxes were on the forefront of many Americans? minds this week as they scrambled to meet the April 15th deadline to file their returns. Tax policy in this country hurts taxpayers twice ? once when they pay taxes, and then when the government spends the money. Americans are sick and tired of the financial burden and the endless forms to fill out. To add insult to injury, after collecting this money the government does some very detrimental things to the economy. read more
The Fair Tax: Universal Welfare is Bad for America
2008-04-14 23:33:00 Libertarian Presidential candidate George Phillies today pointed out a deep flaw in the "Fair Tax" advocated by some Republicans, including former Presidential candidate Mike Huckabee. "The so-called 'fair' tax has two parts, namely a sales tax on almost everything, and a monthly welfare check mailed to every household. Fair tax advocates say the welfare check is a tax rebate, but you get the check even if you paid no tax." read more
taxation Officer
2008-04-14 07:30:00 TAXATION OFFICER Qualifications : -Female -Min S1 degree in Accounting/ Finance/ Economic preferably from reputable university. -Total 10 years experience out of which 5 years in Garment Manufacturing unit. -Experience in preparing and analyzing financial statement as per Indonesian Tax rules and regulations. -Familiar with tax planning, tax report, and tax regulation. -Holding Tax Brevet A & B certificate ...
Rental properties - claiming borrowing expenses
2008-04-14 03:54:00 Clients ask us about what they can claim for their rental properties - since we are not registered tax agents we cannot give any information in that regard. If you go to the Australian Taxation Office website (ato.gov.au) you may be able to navigate to the correct page. The information below is taken from their ...
Bailing Out Banks, by US Rep. Ron Paul
2008-04-13 07:00:00 There has been a lot of talk in the news recently about the Federal Reserve and the actions it has taken over the past few months. Many media pundits have been bending over backwards to praise the Fed for supposedly restoring stability to the market. This interpretation of the Fed's actions couldn't be further from the truth. The current market crisis began because of Federal Reserve monetary policy during the early 2000s in which the Fed lowered the interest rate to a below-market rate. The artificially low rates led to overinvestment in housing and other malinvestments. When the first indications of market trouble began back in August of 2007, instead of holding back and allowing bad decision-makers to suffer the consequences of their actions, the Federal Reserve took aggressive, inflationary action to ensure that large Wall Street firms would not lose money. read more
Needing A Bookkeeper For BAS due 28 April
2008-04-11 01:14:00 Things get pretty hectic for bookkeepers in the weeks before the Business Activity Statements (BAS) are due for lodgment We get enquiries from small - to medium sized businesses (SME’s) as they suddenly realise that the paperwork is all too much, and they need help in getting the bookkeepeing upto date on time. So when new clients ...
Nation?s Largest Taxpayers Group Honors Congressman Ron Paul
2008-04-09 07:00:00 WASHINGTON , DC ? Congressman Ron Paul deserves applause for a pro-taxpayer voting record last year, according to the 362,000-member National Taxpayers Union (NTU). The nonpartisan citizen group announced that Congressman Paul was one of only a few dozen lawmakers in the House and Senate to win the 2007 ?Taxpayers? Friend Award.? read more
Why Small Business Needs Bookkeepers
2008-04-08 05:26:00 In the last two days we’ve had calls from small business owners who understand that they cannot do everything that needs to be done to keep their business going. The cost of hiring a bookkeeper may seem expensive until you consider the cost of trying to do the bookkeeping yourself. Contact us now for a free ...
Need A Gold Coast Bookkeeper
2008-04-07 07:06:00 We’ve a client who’s been waiting for a good bookkeeper to help them out on the northern end of the Gold Coast. If you think that you can fulfil the requirements then please contact us today All our bookkeepers are very proficient, experienced, fast and efficient. Some specialise only in MYOB, others in Quickbooks, and a few ...
Third Quarter BAS due April 28
2008-04-05 22:52:00 For many business owners it seems like you’ve only just completed a BAS submission, and now we’re due for another round of Business Activity Statements With the Easter Holiday being so early in the year, and now school holidays, there seems little time for business owners to get the bookwork upto date for the ATO third ...
South Texas leaders blast plan to speed up border fence
2008-04-03 01:12:00 Texas border land owners, mayors and wildlife groups blasted the Bush administration’s sweeping plan to waive nearly three dozen federal laws to speed construction of a border fence by year’s end. Using authority granted by Congress, the Department of Homeland Security announced Tuesday it plans to issue two waivers to complete 670 miles of fencing in ...
By: TexasFred's
Taxation Without Representation
2008-03-26 06:31:00 Rivals.com is kind enough to have a page listing all of this year’s the high school basketball champions in every class in every state. It’s an extremely nice feature, but it has one problem. Nowhere is there a mention of the Washington D.C. City champions. Those champions are the Gonzaga Purple Eagles. They’re led by D.C. Player of the Year Max Kenyi (who will be playing basketball at Harvard next fall) and last month they beat Theodore Roosevelt to give coach Steve Turner his city first title. All I ask is that Rivals.com give them the same respect they give Carvel (the Delaware state champions) and everybody else.
By: ShakedownSports
Making a Recession Great, by US Rep. Ron Paul
2008-03-16 06:00:00 House Democrats recently adopted a budget with massive tax hikes, many of which are directed at those Americans who can least afford them. By allowing the Bush tax cuts to expire in 2010, this budget will raise income taxes not only on those in the highest income brackets, but raises the lowest bracket from 10% to 15% as well. Estates would again be taxed at 55%. The child tax credit would drop from $1000 to $500. Senior citizens relying on investment income would be hurt by increases in dividend and capital gains taxes. It's not just that the Democrats want to raises taxes on the rich. They want to raises taxes on everybody. The problem is, policing the world is expensive, and if elected officials insist upon continuing to fund our current foreign policy, the money has to come from somewhere. The wars in Iraq and Afghanistan have already cost us over $1 trillion. The Democrats' budget gives the President all the funding he needs for his foreign policy, so one wonders how...
BAS Lodgement Due 28 April 2008
2008-03-02 22:19:00 No sooner have we finished lodging BAS for the December Quarter, to find the January - March 2008 Quarter will soon be due Monthly BAS If your business submits the (BAS) Business Activity Statement monthly, then 21 March 08 is the due date for for lodgement and payment of the February 2008 monthly activity statements Quarterly BAS Most businesses ...
Replacing The Simplified Tax System
2008-03-01 22:19:00 It seems that the simplified tax system wasn’t really simple after all. The ATO have decided that the simplified tax system will no longer operate from 2007?08 and later income years. It’s been replaced by the small business entity provisions. You can continue to use the concessions that were in the STS if you are a ...
Taxation without Representation
2008-03-01 00:00:00 -By Dan Scott Before the founding of the Republic, the colonies were a source of income to the British Empire. Besides the profitable trade made by the various investment houses of England, the Empire shared in that trade via taxation. The principle interest of the colonies to the Empire ...
By: Publius Forum
Superannuation Contributions Due 28 April 2008
2008-02-28 22:10:00 Employers have until 28 April 2008 to make super guarantee contributions to a super fund or retirement savings account for the quarter ending 31 March 2008. If employers don’t make these contributions by the due date they will be liable to pay the super guarantee charge (SGC). Employers liable to pay the SGC must: pay the ...
If You Offer a Web Affiliate Program, Look Out for New Taxation
2008-02-28 18:54:00 Small Business Trends – If you offer an affiliate program for websites to sell your products, you might want to become aware of a plan afoot by the State of New York to tax you. If you sold $10,000 worth of products to those in the state of New York and had one Web affiliate in New York, under ... read more
How to Lodge a BAS Statement
2008-02-28 01:55:00 The Second Quarter BAS is due today, and there’s a mad panic around Australia as everyone rushes to complete their Business Activity Statements We’ve had clients from different parts of the country email us their accounting software files for us to extract the relevant figures to lodge their BAS. Local clients have been calling around with ...
Accountant Gold Coast
2008-02-26 06:39:00 Looking for an accountant on the Gold Coast? Contact us and we’ll give you some pointers. We work with a number of accountants on the Gold Coast, as our clients use various accountancy practices. The benefit to us is that we get to experience first hand different accounting practices. So when our clients ask for ...
Why They Call Her ?The Janitor?
2008-02-25 00:00:00 When you get a desparate call from a client wanting a bookkeeper, you know there’ll be a challenge ahead. There’s a number of reasons why they need help with bookkeepping. They may have just taken over the business, or just started out in a new business venture. The Australian Taxation Office may have just undertaken ...
UK Taxation Treatment For Rental Income Posted By : Arthor Pens
2008-02-22 09:07:00 Land and property income is all income deriving from such property as if it were a trade. Therefore this is calculated as all income being assessed in the tax year on an accruals basis. Are you looking for some inside information on income tax refund? Here’s up-to-date information on Taxes and personal finance and also on Taxes.
In the ?Interest of Society? ? Justifications for Taxation
2008-02-20 15:00:00 By Sabrina Workman The UK government is proposing another increase for tax on fuel in April 2008. Fuel duty currently stands at 50.35p per litre since the last increase of 2p per litre in October 2007, with the average litre of unleaded now costing over Ł1. The average tax on fuel in the rest of Europe ...
If We Subsidize Them..., by US Rep. Ron Paul
2008-02-17 07:00:00 For decades we have welcomed new immigrants to our American "melting pot". We respect those who come here peacefully to pursue their American Dream. But Americans have noticed lately that modern problems associated with illegal immigration are at a crisis point. Taxpayers are now suffering the consequences. Costs of social services for the estimated 21 million illegal immigrants in this country are approaching $400 billion. We educate 4.2 million children of illegals at a cost of $13.8 billion. There have been almost 2 million anchor babies born in this country since 2002, with labor and delivery costs of between $3 and 6 billion. There are currently 360,000 illegals in our prisons and we have spent $1.4 billion to incarcerate them since 2001. In Prince William County near DC, ICE can't deport criminal illegals fast enough and has actually asked its local jails to slow down on referring them. Jurisdiction over illegal immigration lies at the federal level, yet many municipa...
Savage claimed Lantos used the Holocaust as "a weapon the rest of his life"
2008-02-16 23:26:00 "The one thing I fear if either of these cretins become president is higher taxes because I don't want to give the bums any more than I'm already giving them. They're bleeding me dry. I don't want to give the bums in the street another turkey sandwich. I don't want to give junkies another needle. I am sick and tired of the taxes I pay, and I don't want to pay another dime." from Trevor Zimmer: Savage claimed Lantos used the Holocaust as "a weapon the rest of his life" read more
Are You in a Panic About Your BAS Lodgment?
2008-02-12 07:12:00 As the end of the month approaches many small business owners suddenly realise that the last quarter (ending 31 December 2007) BAS is due for lodgement, on 28 February 2008. Consequently bookkeepers are being inundated with requests for help in getting all the documentation together on time for the BAS lodgement at the end of this ...
The Proposed Income Trust Taxation -- Impact to Canada and Investors Around
2008-02-09 13:17:00 On October 31, 2006, the Canadian government gave a rather nasty surprise to the market by imposing a new tax on income trusts. Existing trust will be taxed starting from 2011, for new one the effective date is as early as 2007.The Toronto stock exchange dropped 2.6% and the S&P/TSX Income Trust Index plunged 12%.What is Income Trust?It is an entity that is required by law to distribute almost
FICCI suggests taxation of real estate investment trusts’ income on lines
2008-02-06 09:53:00 The Federation of Indian Chambers of Commerce and Industry has advocated for taxation of real estate investment trusts’ (REITS) income on the lines of mutual funds and permission to investment in housing development activities. The group has also come out in favour of exemption of capital gains tax on the sale of assets of REITS and VAT ability of stamp duty payable by a REIT. The FICCI has suggested that taxation on REITS income should be such that the income gets taxed only once till the stage of its distribution to the end investor. In a mutual fund if it is dividend, the fund pays the dividend distribution tax and there is no tax in the hands of the investors. A similar tax structure should be worked out for REITs as well. Further, it feels that there should be no capital gains tax on sale of assets of REITS, the group said. Apart from the recommendations on the draft REITS regulation, FICCI has called upon the Union Finance Minister P Chidambara...
By: B4U India
Why Some Do Not Understand Taxation Debate
2008-02-06 07:03:00 Many American Voters do not understand the taxation debate around election time. They hear stories of businesses and rich folks getting big tax breaks and yet do not fully understand, although at first glance they feel that is somewhat unfair. What is very unfortunate is that many politicians will claim that only the rich get the tax breaks. But in reality what is happening is that government is
Paving Paradise, by US Rep. Ron Paul
2008-02-04 18:23:00 The Constitution guarantees Americans the right to be secure against all unreasonable seizures. My home state of Texas is unfortunately planning on some very unreasonable seizures of land with the monstrous Trans Texas Corridor highway project. The TTC plans call for a highway to cut through about 4,000 Texas miles, and with separate rail lines for passenger and freight, a multi-lane highway with separate truck lanes, utility and cable easements, this highway could be as wide as 1200 feet across. In the end this project would consume something like half a million acres of land in Texas . However, since the exact path of the road has not been determined, it is putting much more acreage in jeopardy, and in limbo. Taking land is destructive enough. But the perpetual threat of taking an undetermined amount of land is hanging over the heads of millions of Texans and putting their lives at a standstill. Land is a store of wealth and a source of stability. This highway project is tr...
DIY Bookkeeping ? Top 10 Mistakes
2008-02-01 07:14:00 For many small business owners, bookkeeping is a part of the business that is often overlooked, or left until the last minute. Bookkeeping is a task that many business owners hate doing, and is often rushed, left to the last minute, or carried out late at night after a hard day at the office or on ...
Belize Offshore Company Taxation
2008-01-29 10:59:00 When it comes to the taxation of an offshore company incorporated in Belize there is really only one thing to know and that is an offshore IBC is exempt from all taxes and stamp duty! The structure of a Belize IBC is totally non-restrictive. There are many potential benefits to establishing an International Business Company offshore, but few jurisdictions offer the features and benefits that
Statement on H.R. 5140, by US Rep. Ron Paul
2008-01-29 07:00:00 Madame Speaker, I find it odd that HR 5140, a bill allegedly designed to provide a stimulus for the anemic American economy, contains provisions that could damage the economy and hurt American taxpayers. Specifically, the provisions increasing the loan limitations of the Federal Housing Administration and the Government Sponsored Enterprises (e.g. Fannie Mae and Freddie Mac), will exacerbate the long-term problems in the housing market, and may even lead to a future taxpayer bailout of the housing industry. The recent bursting of the housing bubble should have taught my colleagues the dangers of government polices that distort the market by diverting resources to housing, when those resources would be more efficiently used in other sectors of the economy. Ironically, many of the same members who insisted that upper income taxpayers be denied the tax rebates are enthusiastic champions of the provisions in HR 5140 increasing the FHA loan limit to $633,500 and the GSE loan limit to $72...
Economic Stimulus Concerns, by US Rep. Ron Paul
2008-01-29 01:07:00 This past week in Washington there has been much talk about the economy. It seems by their actions the leadership and the Fed is finally willing to admit we have a problem, and we need to do something about the economic mess we are in. This is a good thing. However, they are still not being honest about the root cause of our impending crisis and want to deal only with symptoms, not the disease. There are some positive aspects of the highly lauded economic stimulus package that has been negotiated. I am in favor of taxpayers getting some of their money back, however temporary tax cuts and one-time rebates will not ?fix? the economy. What we desperately need right now is real deep significant tax cuts that are enabled by big spending cuts and reduction of government waste that is so rampant. Unfortunately, too many in Washington still believe we can spend our way into prosperity, which does not work and never has. read more
Stimulus Package ? What is Not Seen
2008-01-27 22:33:00 Regarding the proposed stimulus package: What we see may be the government scrambling for solutions that make the problems worse. I know that it will fail in the long run. It might help if total expenditures are cut drastically and the 2002-03 tax cuts are made permanent. What we do not see is the cause of the problem and what the end result of this fix will be.read more
Capitalism without the Thorns
2008-01-27 10:03:00 In graduate school, I shared an apartment with a very interesting fellow who argued in favor of the American Libertarian party. The Libertarians, in America, are a minor party that gets something like 1% of the vote in most elections, so they wield very little influence, but they make some interesting arguments in favor of ...
India, Mexico to sign pact on double taxation avoidance, fiscal evasion pre
2008-01-25 12:12:00 The Union Cabinet today gave its ex-post-facto approval for signing of the agreement between India and Mexico for double taxation avoidance and fiscal evasion prevention with respect to taxes on income. This agreement will stimulate the flow of capital, technology and personnel from India to Mexico and vice-versa. It will also provide tax stability and reduce any obstacles in providing mutual cooperation. India has so far signed such bilateral treaties for double taxation avoidance with 71 other counties. (ANI)
By: B4U India
Can Bookkeepers Help Reduce Your Tax?
2008-01-24 07:44:00 The Simplified Tax System seems to get increasingly more complicated. We all work hard to make a dollar, so most people are not in a hurry to hand over more than is absolutely necessary to the Government Coffers. Can bookkeepers help to reduce your taxes? The short answer is since most bookkeepers are not registered tax ...
Congressman Ron Paul Fights to Block Congressional Pay Raises
2008-01-23 07:00:00 Congressman Ron Paul is an original cosponsor on legislation proposed by Representative Harry Mitchell (AZ-5) to block Members of Congress from receiving the automatic pay adjustment scheduled to take effect in 2009. ?With all the waste going on in government, the dollar losing its purchasing power, the collapse of the housing bubble, the economy is really struggling. We Members of Congress should not be padding our pocketbooks when our constituents are tightening their belts,? stated Congressman Paul. read more
BAS Lodgement due 28 February 2008
2008-01-21 03:38:00 With Christmas over, and the summer holidays coming to an end, the December 2007 quarter is due. Business Activity Statements for quarter ending December 2007 are due to be lodged by 28 February 2008 for those businesses that report each quarter. Don’t expect to get an extension, you’ve already had four weeks Business owners that are struggling ...
Challenges of Taxation on Internet Business
2008-01-21 03:36:00 Electronic commerce (e-commerce) has changed the way business is conducted in the twenty-first century. Since the advent of e-commerce distances and national borders have become much less significant and the concept of a global marketplace has become much more of a reality.Sales can now be made via the Internet thereby increasing the availability of new ranges of products and services worldwide in the so-called global market. Commercial transactions no longer require traditional intermediaries. Government regulatory and tax authorities are therefore finding it much more difficult to track the flow of intangible products and services. Although taxation is less of an issue in the internet business practitioners, it is an issue of concern for many governments.The Internet as a market place without boundaries, presents complicated administrative challenges for traditional means of levying taxation. There are however fears that some jurisdictions may target on-line transactions with new ...
Legislative Forecast for 2008, by US Rep. Ron Paul
2008-01-13 07:00:00 Congress is re-convening this coming week and I would like to take this opportunity to give my legislative forecast for the coming year. Here are a few things we can expect to see from Washington . First and foremost, we will see ramped up spending for the warfare/welfare state. There is no resolution or end in sight on the Iraq occupation. While the American people try repeatedly to communicate to Washington that enough is enough, there still remains little political will in Washington to bring the troops home. The war will continue to require mountains of taxpayer and newly printed dollars, and our economy will sink under the burden. If we are manipulated into a second war, the effects on our economy will be truly devastating. Welfare and entitlement programs will also be ramped up as the economy flounders and budgets in American households are strained. read more
Paul Returns Thousands to Treasury
2008-01-11 23:26:00 The U.S. House of Representatives reports that Congressman Ron Paul has once again run his Congressional office in a frugal manner, and he will likely return tens of thousands of dollars to the Treasury once again this year. Preliminary estimates forwarded to Paul?s office indicate he has about $75,000 left in his account. ?Since my first year in Congress representing the 14th district I have managed my office in a frugal manner, instructing staff to provide the greatest possible service to the people of the 14th district at the least possible cost to taxpayers,? said Paul. read more |
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