• Due to a mixture of favorable depreciation and expensing guidelines, you could also be able to write down off most of the price of the heavy SUV this year. • If you’re in the market for a enterprise automotive, consider buying in 2013 an SUV constructed on a truck chassis and rated at greater than 6,000 pounds gross (loaded) automobile weight. A…[Read more]

  • All of this is creating what Bank of America Corp., the second greatest underwriter of the notes, sees as a grim outlook for buyers… Some seem to really feel that we have achieved a marvelous and very courageous thing by “escaping America” and wish they may do they similar. To begin with, the United States of America would have to admit (and t…[Read more]

  • The United States (U.S.) system of federal income taxation is a citizenship-based income tax. Elsewhere in the world, the basic rule is that taxes are based on residency and not on taxation of worldwide income based on citizenship.

    The origin of the U.S. taxation of worldwide income is the first federal U.S. income tax. Enacted in 1861 in…[Read more]

  • Should you itemize deductions, be aware that the AGI threshold for deducting certified medical expenses on Schedule A increased this year from 7.5% to 10% for most people. For tax years beginning after Dec. 31, 2012, the adjusted gross revenue (AGI) threshold for claiming the itemized deduction for medical expenses might be increased from 7.5% to…[Read more]

  • The Bloomberg Commodities Index declined 1.1% (down 1.3% y-t-d). For the week on the draw back, the Mexican peso declined 8.3%, the Norwegian krone 8.1%, the Australian greenback 6.5%, the British pound 5.9%, the Brazilian actual 4.3%, the South African rand 3.7%, the new Zealand dollar 3.4%, the Swedish krona 3.2%, the Canadian dollar 2.8%, the…[Read more]

  • Section 5321(a)(5) of the American Jobs Creation Act of 2004 imposes penalties of up to $10,000 for nonwillful failure to file the report or disclose international accounts. International Tax Services – The IRS introduced the creation of a new Advance Pricing and Mutual Agreement Program to handle switch pricing points formerly administered…[Read more]

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