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Cross-Border Tax Issues With Canada

If you're doing business in Canada or have plans to expand into Canada, you may be subject to Canadian income tax. Typically, selling goods or services into Canada from the U.S. without conducting any other activities in Canada would not cause a U.S. company to be...

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Tax Calendar for the Rest of 2017

July 10 Employees Who Work for Tips: If you received $20 or more in tips during the month of June, you should report them to your employer. Use IRS Form 4070 (Employee's Report of Tips to Employer). Due on the 10th of every month. September 15 Individuals: If you are...

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How to Work With the IRS Office of Appeals

Audited by the IRS? That's bad, but it doesn't have to be the end of the matter. Even if the auditor ruled against you, you can appeal. You will receive a copy of the auditor's ruling and a letter detailing how to make an appeal. You'll have to file your appeal in a...

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The Future of Work: Digital Transformation

Digital technology is transforming the very nature of work — the way we innovate, connect, interact and produce. A recent survey by Intel revealed that 63 percent of employees no longer have a traditional office fixed-desk work environment. About 43 percent of...

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What Dead Celebrities Can Teach Us About Estate Planning

You may want to live like a celebrity, but you shouldn't die like some famous people who left a mess for their heirs. Dying Intestate You'd think that the rich and famous would care about who inherits their riches when they're dead and gone. But oddly, many...

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Time to Think About 401(k) Audits

By Sara Johnson, CPA, Audit Manager   Vrakas is proud to audit over 60 employee benefit plans each year.  Our team's emphasis is to ensure your plan is being served by qualified professionals who not only can provide the compliance audit services that you require, but...

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What to Do if You’re Audited

he IRS will assure you that you've been randomly selected for closer examination. You may feel totally unhinged, like you are entering Dante's Inferno. For one Manhattan man, the letter about the audit was the opening act of a five-month-long drama. He methodically...

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Don’t Try to Be Funny with the IRS

Nobody likes paying taxes, and the IRS gets that. But citizens who come up with the-dog-ate-my-homework excuses for not paying their fair share of taxes really annoy the U.S. government. They're called "frivolous tax arguments," and the IRS has a response for every...

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Don’t Forget Your Military Tax Breaks

If you're in the U.S. military, Uncle Sam thanks you for your service in the way of special tax breaks. Some types of income are not taxable, some deductions and credits are especially for you, and you may be able to get more time to file your federal tax return and...

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