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30Jul2017

Tax Reform Will Hit Affluent Americans the Hardest

Americans earning between $149,400 and $307,900 stand to lose the most as a result of tax reform according to a new study done by the Tax Policy Center (“the Center”). The Center predicts that one-third of nearly 19 million households within that income bracket will see their tax bill increase by $3,000-$4,000 a year. Overall,
  • 30 Jul, 2017
  • Karina Torres
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26Jul2017

Payroll Taxes – Beware the Pitfalls of Avoidance (Part 2)

The IRS has become aggressive in its effort to collect unpaid payroll taxes. Payroll taxes are the taxes paid on the wages and salaries of employees. They are used to finance social insurance programs, such as Social Security and Medicare. An employer is responsible for paying half of payroll taxes (7.65%) while the other half
  • 26 Jul, 2017
  • Karina Torres
  • 0 Comments
  • Global Law, Payroll Taxes, Responsible Person Test, Willful Failure Test,
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16Jun2017

Audit Proof Your Business Deduction for Entertainment Expenses

Nearly every business can utilize the business deduction for meal and entertainment expenses. Wining and dining clients is a common long-standing tradition used to cultivate business. For example, here at Global Law, we break bread and talk business, as well as everyday life, with our clients as a means of creating a relaxed and intimate
  • 16 Jun, 2017
  • Karina Torres
  • 0 Comments
  • Business Deduction, Meal and Entertainment Expenses, Tax Deductions,
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26Apr2017

President Trump Signs Executive Order Targeting H-1B Visas

On April 18, 2017, President trump signed the “Buy American, Hire American” Executive Order on the premise that the H-1B program is taking away jobs from American workers. H-1B visa workers do not take jobs away from U.S. workers and the program does not drive down wages, but rather is filling gaps in America’s workforce. The
  • 26 Apr, 2017
  • Karina Torres
  • 0 Comments
  • Global Law, H-1B program, H-1B Visa Workers,
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20Apr2017

Tax 101 Series: To Itemize or Not To Itemize, That is the Question

Every year you have the option to either take the standard deduction or itemize deductions on your tax return. Depending on your circumstances, one may make more sense than the other. The Standard Deduction The standard deduction is a fixed dollar amount that reduces the income you’re taxed on. This fixed amount depends on your
  • 20 Apr, 2017
  • Karina Torres
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  • Itemized Deductions, Standard Deductions, Tax Deductions,
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19Apr2017

Payroll Taxes – Beware the Pitfalls of Avoidance

Payroll taxes are the taxes paid on the wages and salaries of employees. They are used to finance social insurance programs such as Social Security and Medicare. An employer is responsible for paying half of payroll taxes (7.65%) while the other half should be withheld from employees’ paychecks and deposited to the IRS at regular
  • 19 Apr, 2017
  • Karina Torres
  • 0 Comments
  • Payroll Tax Avoidance, Payroll Taxes,
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03Mar2017

Trump’s First 100 Days

During Trump’s first 100 days in office, many changes have been implemented, including the immigration policies that he promised in his presidential campaign. On February 21, the Trump administration did away with most of Obama’s policies by releasing two memorandums from Homeland Security Secretary John Kelly. The memorandum on border security beefs up Customs and
  • 3 Mar, 2017
  • Karina Torres
  • 0 Comments
  • Immigration, Trump, Undocumented Immigrants,
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15Feb2017

R&D Credit

In an effort to help US companies maintain their technological competitiveness, Congress instituted the Research & Experimentation credit (known today as the Research & Development credit) as part of the Economic Recovery Tax Act of 1981. Throughout its storied history the R&E (R&D) credit has expired eight times and been extended fifteen times. Because of
  • 15 Feb, 2017
  • Karina Torres
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  • law, R&D Credit, tax,
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07Jan2017

Tax Alert: Re-Evaluating W-4 Withholdings May Reduce Sticker Shock Next Tax Season

We have defended hundreds of taxpayers for delinquent taxes over the years. One very common mistake that launches taxpayers into huge IRS debt is failure to have the employer withhold the right amount of taxes from their paycheck. This tax season is coming to an end. If you have not had the right amount of
  • 7 Jan, 2017
  • suzette blackwell
  • 0 Comments
  • allowances, Global Law, W-4, withholdings,
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01Jan2017

Tax Compliance Help for U.S. Expatriates

The IRS has increased tax compliance requirements for U.S. taxpayers with foreign accounts in recent years, and many U.S citizens overseas do not understand how to file, or that they are even supposed to file. For example, one client thought that because he was paying taxes to the foreign country where he lived and works,
  • 1 Jan, 2017
  • suzette blackwell
  • 0 Comments
  • compliance, expatriates, FATCA, foreign taxpayer,
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