|
I am a Sarasota , Fl. Luthier, who happens to own and operate
a small C.P.A. firm. I have been in practice for over fifteen
(15) years, and a Member of the American Institute of Certified
Public Accountants (A.I.C.P.A.) and the Florida Institute
of Certified Public Accountants (F.I.C.P.A.). I am a N.A.S.D.
Arbitration Judge/Arbiter, Florida Supreme Court Certified,
Family and County Court Mediator and Florida Supreme Court
Certified Arbitrator.
While you
may call me anytime, to discuss a tax issue, it is best
to consult your own, personal, C.P.A. If you don’t
have one, GET ONE! Don’t wait too long as some elections
have time limits as to when they must be filed to effective
for the upcoming year. A C.P.A. is trained, tested, and
certified, to help you make the right decision. He or she
usually has many years experience dealing with many different
types of businesses. He or She is licensed and that means
there is a License to lose. The State Departments of Professional
Regulation is very adamant about monitoring CPA’s.
Yes, you might pay a little more…but you get what
you pay for. We all try to get the best tone woods and usually
get what we pay for. We always explain this concept to our
customers so why not take a little of our own advice? Especially
when making an important business decision.
Well it’s
almost "Tax Time" once again. There are many changes
for 2006 in the works. Make sure you set an appointment
with your C.P.A. early so you can take full advantage of
them. If you wait until 2006- next year, you may lose any
current opportunity to lower your 2005 tax bill. Simply
put…Do It Now…there is no way to help you in
2006 if you needed to act in 2005. I was going to write
about the tax law changes, unfortunately, at the time this
article was being compiled, many of the new laws are still
being re-written and changed. The new laws should be finalized
sometime between 11/30/05 and 12/15/05(Although we have
seen Congress issue, and even revise, new law right in the
middle of tax season ).
I will write
about the new laws in the next article – issue 55.
You may want to re-read some of my prior articles in Guitar
Magazine issues 46,48, and 51. Most of what was written
still has application for 2005 and 2006. You can also read
them at my Luthier Website: www.siestakeyguitars.com
In this article
I will discuss another topic "Frivolous Tax Arguments".
This is a
common topic talked about a lot on talk shows, in bars ,
street corners, book reviews and radio talk shows. Most
proponents claim we don’t have to file tax returns
or pay income tax for some reason or another. Here are some(
not all ) of the contentions and the I.R.S.’s answers.
I have condensed, in most cases, the answers and have left
out any case law, in order to fit this information into
this article ( It would be a phone book otherwise). You
can get the full length version and look up and read the
cases if you wish by visiting the I.R.S. website: www.irs.gov/pub/irs-utl/frivolousarguments-3-14-2005.pdf
Contention
# 1:
Filing
a tax return is Voluntary.
Answer :
"The
requirement to file an income tax return is NOT voluntary
and is clearly set forth in Sections 6011(a), 6012(a),et
seq., and 6072(a). Any taxpayer who has received more than
the statutorily determined amount of Gross Income is obligated
to file a return."
Contention
# 2:
Payment
of tax is Voluntary.
Answer:
"The
requirement to pay is NOT voluntary, this is clearly stated
in Section 1 and 11 of the code. It is also described in
Section 6151. Taxpayers are supposed to pay the income tax
due with their returns…Failure to do so can result
in both civil and criminal penalties, fines, and imprisonment."
Contention
# 3:
I.R.S.
must prepare tax returns for those who fail to file.
read more >>
|
