Oklahoma Creativitity » Finance :: Tax

1031 Reverse Exchange Rules Similar to Those For Other Exchanges

admin — Thu, 05 Nov 2009 13:40:44 +0000

Conducting a 1031 exchange, which allows taxpayers to defer capital gains on the sale of a property by exchanging into a new property, is not entirely simple. And whether you sell the property first and then acquire the new property or if you do a Starker Reverse, the fundamental 1031 reverse exchange rules are the same.First , all exchanges must be for like-kind properties; you cannot sell a condo in exchange for agricultural property. Second, there are strict 45- and 180- day timelines associated with these transactions. And finally, like all exchanges, they must be conducted through a Qualified Intermediary.

Creating a Charitable Foundation

admin — Fri, 12 Sep 2008 12:43:47 +0000

When you are creating a charitable foundation, it is truly great if you are not thinking just about how much of tax it will be saving for you. If you make sure that the beneficiary is of some assistance to society and will use your asset for its betterment, you will have done a very philanthropic thing. This will be the additional benefit you will get for setting up a charity. Of course, the tax advantage stands too and you are welcome to take all benefit you can of it.

A Sure Shot Way To Pay A Lower Property Tax

admin — Tue, 17 Jun 2008 19:44:22 +0000

The property taxes have risen more than twice owing to the growing inflation. But the problem is that taxes are still comparatively higher than the property rates. But, here is a way that could help you pay a much lower property tax. You must learn all about the property tax system of the authorities. If you have all the details in hand, you could easily find some way out to reduce your taxes. Look for the factors your tax liability is based on and work on them. Make a detailed note of how the calculations are done and then try to figure a way out.

Why Should You Outsource To The Payroll Processing Services

admin — Sat, 07 Jun 2008 19:42:07 +0000

Payroll processing is one of the most hectic tasks for the human resources department of any company. It has to be done at a rapid pace because the personnel are waiting for their renumeration. In case of big companies this becomes a very complicated task as the HR department has a number of other things to be concerned about. The best approach here is outsource the work to payroll processing services. These payroll processing services are very fast and reliable because they keep on doing payroll processing all the time. The small business payroll services have specialized software packages which can do payroll processing in a matter of minutes.

1031 Exchange Corporation – A High-Quality Intermediary Services Provider-Part I

admin — Fri, 14 Mar 2008 20:40:36 +0000

1031 exchange guidelinesAn Exchange Agreement with a Qualified Intermediary is necessary under section 1031 of the internal revenue code (IRC). Services of such intermediaries are available through many service providers. One such service provider is 1031 Exchange Corporation. It is located in Austin, Texas. Incorporated in 1993, it is one of the pioneers in the field of providing qualified intermediary services. It facilitates 1031 property exchanges in all the fifty states of the US.

It has a team of experienced and resourceful Qualified Intermediaries. They have provided high quality services to thousands of 1031 exchange clients spread all over the US. The clients have been satisfied with the intermediary services provided by them. An important facet of the company is that it is bonded and insured and is covered by errors and omissions insurance.

This provides adequate protection to the exchange clients and also to the funds they place in the hands of the company's intermediaries. The company even has a Certified Exchange Specialist (CES) on its staff.

The CES designation is awarded to certain exchange professionals by the Federation of Exchange Accommodators (FEA). The FEA conducts a Certification and Continuing Education Program. Such CES professionals meet a minimum acceptable level of work experience in the field of 1031 exchanges. They must have also passed an exam in 1031 exchange corporation laws and procedures.

Michael Goh

Small Business Accounting Software Review

admin — Thu, 10 Jan 2008 15:41:23 +0000

Business accounting is a serious business and you need to make sure that nothing goes wrong in your accounting, especially of you are a small business entrepreneur. Choosing a small business accounting software for your purposes may best serve your needs and you can do this by considering a Small Business Accounting Software Review online. Look for features, the ease of using it, the supports it has and consider the prices of the software application. Done that, you can short list your software.

What is the Best Thing I Can Do If I Receive a Federal Tax Lien?

admin — Sat, 15 Dec 2007 13:43:06 +0000

The best thing you can do is pay it if you can afford it. After that, you may want to hire an accountant and a lawyer in order to fully audit your financial records. If you are able to establish that the IRS was incorrect in their estimates, chances are you can start court proceedings. Other than that, don't forget about the federal tax lien when it comes election time, and make sure that the politicians you elect know you want the system abolished