The end of year tax return must be the most stressful part of running your own business. It is even worse if you have earnings abroad and have to fill in tax returns from those countries as well.

How can you make life easier?

1. Start an accounts system. This can be in a hardbck ruled ledger that you can buy from any stationery store.

2. Keep receipts for everything. Enter these into your accounts once a week, or once a month

3. Enter any payments made to you in your accounts system as soon as you get them. (more…)

Do you dread to see the brown envelopes to the IRS or the internal Renenue address them? You put aside until you’ve summoned the courage to read his latest demand for money? Does the thought of filing your tax return you unbearably stressful?

Tax laws in most countries are extremely complex and open to interpretation by the courts. Every contributor who wants to reduce taxes paid to the legal minimum. Even in these days of the easiest ways to understand there are still many possibilities of interpretation of tax laws.

Government departments such as tax collection IRS employ highly paid lawyers to persuade the courts in favor of the government’s interpretation of tax laws. The more persuasive of a lawyer who has proven to be able to charge more. The IRS attorneys are paid out of the bottom pocket of the taxpayers (more…)