Tax tips to save you money

No one likes filling in their tax return, but there’s a lot to be said for doing it properly. There’s a host of little places- many of them not entirely obvious at first glance- where you can save hard earned cash and keep it out the clutches of the revenue. Below, we look at some ways to be sure you get a tax refund this year.

What do I look for in my tax return?

Firstly, are you claiming all of the work related expenses you are entitled to claim? This can be one of the most overlooked ways to get a tax refund. Depending on how much you claim, you may be required to prove expenditure via receipts [but you should be keeping those receipts anyway] but car, meal, travel, transport and more can all be tax deductible under certain circumstances.

What can count towards a tax refund will always depend on your contract, circumstances and industry, but certain things like union fees, overtime food costs, extra training, certain reading matter, tools and equipment owned personally used for work, protective items and home office expenses alongside telephone and mobile bills may all be deductible. There are also certain policies like income protectors that can be deductible, although most cover is not. Remember that this expenditure must be directly related to your income for this to apply.

Are there other areas that may be tax-deductible?

Yes, there are plenty of other areas to look at on your tax return. Bank charges may be claimable, if the fees were related to access to or the earning of your income- monthly fees, ATM fees, electronic funds transfers and more. Of course, business premises mortgages, business owned vehicles and more can also have deductible portions for the business. Joint fees, however, are very often excluded so it is vital you set your business related banking packages up in the most advantageous ways to benefit your tax return to start with.

Certain charitable donations to registered charities can also be tax deductible, although not all of them are and it is always worth clarifying with your tax advisor. Likewise, the care and cost of certain business necessary clothing can also be run through on your tax return as a claim. This can apply even if you wash those clothes at home- there is a set reasonable limit per load of laundry a week for this. In short, most justifiable expenses connected to your business will be allowed as a deduction should you be able to prove why it was necessary and how much it cost.

If you have a particularly large tax return or a complicated business- or if you just want the peace of mind of knowing you have done everything you can- it is usually best to contact a tax advisor to make sure you are doing everything you can regarding your tax return. However, many people do miss out on these tax tips, and on the tax refund they should have got.

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The benefits of hiring a Tax return specialist for your business

The benefits of hiring a Tax return specialist for your business

Getting your taxes arranged professionally isn’t modest, but the advantages can far exceed the budgetary expense. Build your tax season genuine feelings of serenity and, conceivably, the span of your Tax return by enlisting a tax readiness and determination this year.

With the variety of tax readiness programming programs available, many individuals are presently get ready and documenting their own particular tax returns as a method for sparing cash. But, there’s as yet something to be said for Tax return records over to an expert, particularly in case you have a convoluted return and need to ensure reliability. Employing a specialist for your own bookkeeping needs can guarantee that you complete tax season sans stress, having paid out-and gotten back-only the perfect sum.

State-of-the-art Knowledge

A confirmed proficient tax preparer or bookkeeper in your general vicinity will have not just an intensive learning of government tax laws and necessities, additionally a comprehension of your specific state tax laws. As an individual, you may have a wide thought of your Tax refund, yet you may not know about specific subtleties.

The benefits of hiring a Tax return specialist for your business

Most CPAs and tax preparers go to proceeding with instruction courses to stay a la mode on any progressions to tax arrangement that will influence their customers, making them ready to spare you from punishments and fines for Tax refund, furthermore to amplify your potential discounts.

Proficient Preparation

It may take you hours-even days-to make sense of your tax circumstance all alone, particularly in case you have different wellsprings of salary. A convoluted family circumstance, investment properties, pay in many states, or different not exactly clear return situations. If you need to know more you can visit this link: here. In the sports for Tax returns, a tax arrangement master documents returns for various customers a day, five days a week, and will have the capacity to rapidly comprehend your mind boggling accounts.

Employing somebody to do your Tax returns can spare you a considerable measure of time, and in case you’re in an industry where your time is cash, those hours are greatly important. One note: When you procure a CPA firm or other tax readiness element, it’s useful to type out your budgetary records before your arrangement. In case you’ve looked through your reports in advance, you’ll be better prepared to answer the bookkeeper‘s inquiries as he or she readies your tax return.

Derivation Maximization

PC programming is not idiot proof at finding each conceivable derivation that is important to your specific circumstance. A tax authority, then again, can pose focused on inquiries that indicate conclusions you may have generally missed. In the end also checkout this site here. The same goes for Tax refunds, you won’t not understand you’re qualified for something that could have a major effect on your arrival. Additionally, proficient tax arrangement charges can be deducted the next year.

Future Tax Help

In case you employ an expert tax preparer, you have somebody to swing to who knows your circumstance in case you require tax determination services from later on. In case you end up battling with back taxes and tax punishments, you can call your bookkeeper, tax lawyer, or paid preparer for counsel and help with managing the IRS.


7 Tips for Claiming Tax Back in Australia

There are many ways that to file your taxes that will allow you to receive a tax refund. You may try some ways to receive more but remember to try other things as well. If new processes work for you now and you are able to get a few more dollars back, do it again next year. The goal is trying to get back as much as you can when tax season comes around.

7 Tips for Claiming Tax Back

  1. Claim your tax back- when you file taxes, you can almost guarantee that you will be getting something back. When it comes to taxes, and you do not know too much about them, visit this site to get the more info.
  2. The financial year runs from 01 July to 30 June the next year- Australia has a unique financial year and when you lodge your taxes during the 2015 season, you’ll be reporting the income you earned from 01 July 2014 to 30 June 2015.
  3. You can lodge your return early- Foreign residents leaving Australia permanently who will not derive anymore Australian-sourced income can lodge return before the end of the income year.
  4. Claim work-related expenses- you may be able to get a few more dollars back if you claim things such as car expenses, travel, clothing, food etc. if it was work related.
  5. Determine your residency status- you will have to determine whether you qualify as an Australian resident or nonresident for tax purposes.
  6. Claim back your superannuation- in addition to normal tax withheld, your employer may also have put 9% of your earnings in a superannuation fund, a retirement scheme for Australians.
  7. Don’t worry about reentry- Claiming your superannuation won’t affect your ability to come back to Australia on a different visa.

Get Facts Right

In average, over 350,000 people are contacted from tax return agencies because of errors within their tax returns. Omitting income is the most common mistake that is seen by tax return agencies. Other common mistakes include: supplying an incorrect TPN, spelling errors in your name, supplying incorrect bank account details and many others. It is very important to recheck all the information that was input to the tax return form before submitting the information. Filing taxes online can assist you in avoiding common or simple mistakes.

Tax Return 24/7

Tax Return 24/7 I the easiest and most efficient way to claim your tax refund. The company is owned and operated in Australia yet they provide services to overseas clients as well. Tax Return 24/7 clients feel safe working with this company and know that their tax returns are handled professionally and with experience. If you want the most out of your tax return, visit the professionals and allow them to assist you.

There are many solutions to completing your taxes the right way and there are many more suggestions on what you should include to receive a few more dollars. Be sure to provide accurate information and if needed, seek assistance from tax return agencies. has a 100% client satisfaction and offers services within Australia and overseas.

Things to not forget if you do your own tax return

own tax return

Some people get the services of professional tax practitioners to file their tax return. But some people file their tax return by themselves. To calculate the amount of tax payable is a technical task. You should have the necessary qualifications to calculate tax. However, if you want to file a tax return by yourself then there are some things that you need to keep in mind.

You need to be aware of the due date of filing the tax return. You can lodge your tax return online using ATO (Australian Tax Office) software. It is not mandatory to lodge the tax return online but it will help to streamline the process. If your tax is reasonably straightforward then you can file tax return online. Visit for further information.

Tax refund:

If you have overpaid the tax then you can claim for tax refund. As you are filing you tax return by your own then you should have knowledge about how to get a tax refund. You will have to provide all the related information. There are many methods but to apply online is one of the best methods.

Advantage of online lodging:

If you expect that you have a tax refund then it will be faster to get the tax refund if you lodge online. We can compare the advantages of online lodging with the paper return lodging. ATO gives the tax refund within 12 days when you lodge the return online but 50 days will require when a paper return is lodged. There is great difference of days so keep this in mind.see post here!

You should have a proper record of your work related expenses as you can claim tax deductions against your income. Your return should be filed on time otherwise ready for any penalties.

You will have to provide all the information related to your incomes, perquisites etc.


1) You will have to pay the interest in advance if you have an investment portfolio. Be careful and don’t breach the prepayment rules.

2) If you have any rental property you will have to calculate the amount of depreciation and other property related expenses accurately. You can hire a surveyor to make an assessment regarding these expenses. After this, put the true figures in the tax return.

3) Your work related expenses should be true. If you try to evade tax, you will be caught by ATO. So the expenses that are just related to the work should be calculated accurately.continue reading this:

4) You can claim for all the amounts that you give to the charities. You should keep the record of the donated amount. It will benefit you.

own tax return


Being a good citizen it is your responsibility to pay the tax. Your country will make progress when all the people who are liable to pay the tax will pay tax. It is optional to hire a tax practitioner for the calculation of tax. If you have knowledge regarding the tax rules then no doubt you can file the tax return by your own. This article contains related information which will help you for filing the tax return.

How Long Does It Take to Get My Tax Refund?

Tax Refund

Your tax refund may take few weeks or even few months. It all depends on the procedure and the time. If you fulfill all the terms and conditions in time then there would be less chances of delay. On the other hand incomplete documentation or submission of form is another cause of delay. Here some points are mentioned that will show that what the reasons are due to which you receive early or late tax refund.

You must lodge for receiving a refund:

It is assumed that you are already aware that there is a need to lodge your taxes for receiving a tax refund. On the other hand if you owe the ATO then don’t expect a tax refund. Because now you have a tax liability. In this case you are supposed to pay amount to ATO instead of receiving from it.
You are often messed up with the lengthy process of tax lodge but E-lodge has made it easy for you. Now you can avail this online tax service to easily lodge your tax information. This E-Lodge enables you to view your tax refund within 15 minutes.get more details here!

Ways to receive tax refund:

After providing your banking information you will be able to submit your tax return easily. When doing in this manner you will be able enough to receive it in the following three ways.

1) Australian Bank Account:

Two things; your account number and BSB will allow you to receive the tax refund amount directly in the bank account of your choice. In this way you will not be asked to pay some additional fee for this. Without much delay, you will receive tax refund.

2) Foreign Bank Account:

If you chose any foreign bank then you have to pay some additional fee for it. And this fee can amount up to $ 39.95.

3) Foreign Bank or Australian Bank via Fee From Refund:

If you want the deduction of tax preparation fee form your tax refund then remember that is of $19.95.
For this purpose you will chose E-Lodge fee from refund option during checking out. In this way you will save time while entering to credit card information.

Why does refund take longer than expected?

It usually takes 10-14 days to get tax refund after lodging. But due to the following reasons you may get it beyond the described time span.

• If you are simultaneously lodging current year and previous year tax returns.check this website:

• If you omitted something or there is some mistake related to your name, date, bank account number etc.

Tax Refund

• If ATO needs further information about your lodging.

ATO’s Progress of Return tool:

By using ATO’s progress of return tool, you can easily track the whereabouts of your delayed tax refund. This tool helps you to know that due to what reasons you are unable to get tax return in time. Besides it also gives you the idea that how long it will take to get the tax return in your bank account.

How You Can Submit Your Tax Online In 2015

Tax Online In 2015

At the end of every financial year, tax calculations also begin. Sometimes it’s a hectic procedure and sometimes its simple straight procedure. But now hectic manual calculations are completely eliminated for tax refunds. All the tax related work is done either online or through some software. Let we discuss it in brief in the following lines:

Handle this work to tax accountants:

Most of the citizens in Australia never get worried about the calculations of tax return because they hire tax experts for this purpose. Some people are also reluctant to submit online tax returns because they are so afraid. They think that they will incur some mistake. If you also fall in that category then there is a need to hire some tax agent or accountant for this purpose. He will make tax return for you by using both traditional and online means. Tax agents also use online system but as they are experts they make very rare mistakes and give you more tax returns at the end. There are both options available to, either do it by yourself or ask some expert to do it for you.visit the site for more information here!


Those people that have somewhat straightforward tax affairs can use myTax for tax return. This is a browser based platform offered by Australian Taxation Office (ATO). Moreover if you have simple calculations and deductions then myTax is best for you. But its not considered good and efficient for slightly complex calculations/deductions.

It is compulsory to be registered for myGov service if you want to use myTax. MyGov also provides you access to the Centrelink, Medicare and some other relevant government services. If myTax is suitable for you, this mentioned ATO page will help you work out. Basically myTax is browser based and it works across Macs, tablets and PCs so here you are not limited by your choice of technology.

The last year data shows that there were around one million taxpayers who used myTax for tax return. By keeping this in mind myTax has been broadened this year to handle lump sum payments, superannuation, foreign pensions and investment funds.


Those companies and people who have slightly complex tax affairs can use e-tax software to calculate tax return. E-Tax is available for Macs, and windows PCs. Here is also a need to get registered for myGov if you want to use e-Tax. The latest 2015 version of e-tax has been released on July 2015.use this link for more details:

Tax Online In 2015

You can now take advantage of pre-filling of information from your employer, health insurance provider and bank, if you use myTax or e-Tax.
Hence, you can easily submit your tax returns if you are able to properly use e-Tax or my-Tax. Those persons or organizations that have very complicated tax deductions and don’t have necessary skills, can hire some tax accountant or agent for this purpose. They will use online system and software to make work easy and efficient. So make tax refund for 2015 easy by using online system.

Hiring Tax Accountants to Prepare Your Tax Returns Australia

Tax Accountants

Sometimes you start all the calculations for the tax return by yourself. While doing so the chances of errors always remain there. Because you don’t have the knowledge of every single aspect. Therefore most of the times you ignore and skip the most relevant elements due to which you can get maximum return.

To avoid this difficulty most tax accountants are available in Australia.

Paying the minimum tax and getting maximum return is possible only if some professional accountant perform this task for you. We are discussing some tips in the following lines that can prove vital and help you to make a right decision about hiring tax accountants.

Is there any way to choose the right tax accountant?

Professional tax accountant is the need of any individual and company. Sometimes you don’t want to put yourself in hectic work and want an escape. So as an individual or being an owner of the company you can get professional assistance of any tax accountant who is ready to do all the calculations for you. But again, before going to hire any tax accountant consider the following things in mind so that you don’t face any difficulty later on. These are:visit the website for more info here!

• Reputation:

Check for the reputation of the tax accountant. For this purpose ask your friends, family or relatives so that they may suggest you the right one. But don’t rely just on the information that they provide you. Ask them for their credentials and referrals as well. They should be highly qualified and expert in this field. Because if they will not be expert then they will not be able to give you the desired results. Their inefficiency can lead you to pay more tax amount and maximum tax return would be just a dream for you. Usually well-established organizations provide the best tax accountants, so consult them first.

• Size of the firm:

Many firms in Australia provides tax return services such as Exmouth offers tax return preparation service both for individuals and companies. Small firms usually do not provide the services as good as the large firms provide. Therefore it becomes difficult to find good service provider with commitment. Large firms provide you the good rates but choosing the small or medium sized firms is also good for you because they provide you more personalized services. But if some firm is providing you both services i.e. personalized services at low rates, then it’s ideal to choose that firm.see for latest blog post.

• Qualification:

Tax Accountants

Specialization and qualification are other important factors that you must consider along with other factors. Qualified tax accountant will prove vital for you and your company. Qualified persons have some special degrees and certificates that determine hat how efficiently and effectively they can perform tasks for you.

In short, while hiring tax accountant for tax return purpose in Australia, keep in mind that he has high reputation, belongs to some large firm and has higher/professional qualification in this field.

What is income tax?

income tax

Income tax is a tax the government oblige people to pay every year on the basis on the income generated for the last 12 months. It is the obligation of every businesses and individual to file their income tax every year in order to know if they owe the government or if they are entitled to any refund. Generally, the government is relying on the income taxes that people file and paid every year in order to use as a source to fund all the programs and services that rendered for the public.

Brief history about income tax

During the 1812 war the purpose of the government of taxing every individual is to paid all the debt that acquire during the war and after taxes it was remove but income tax was bring back during 20th century.
In 20th century income tax becomes an obligation to every citizen and the main purpose of the government is to use to make the country stronger as well as making sure that every program that they created can use for public to make the living much easier.

In short income taxes are being use by every country worldwide although there are people are still criticizing how the government use taxes to control the lives of every individual for the reason that once you miss filing your income tax then you will be under their control through wage garnishment, bank levy or tax lien.see page here!

There are different types of income tax:

• Personal

Income tax is being levy by the total income of an individual every year. Every time that you collected your pay check there is already a deduction of withholding tax but the good news is it will be deducted by the time that you file your income taxes and also you are entitle for a refund once the government knows that you paid your income taxes more that the amount that you should be paying.get more detailed info:

income tax

• Corporation

Corporate tax refers to tax collected on the earnings or profit that made by the companies for 12 months minus the expenses made during that year.

• Inheritance

Inheritance tax or estate tax occur during the event of death
In conclusion, the concept of income tax is the purpose to fund the war but later on it use for innovation for a better economy that can build a stronger country.

What Does a Tax Scam Look Like?

Tax Scam

As the year-end approaches, tax promoters are out in force, reminding potential clients they must act before December 31 in order for a transaction to have an effect on this calendar year. And as the New Year approaches, the sales pitches become harder, admonishing clients to act quickly. But often lost in the year-end tax crush is the fact that a lot of these plans just don’t add up from a compliance perspective – that is, if the Internal Revenue Service challenges these transactions, the taxpayer will lose.

So, what should you be looking for to determine if these proposed plans make sense? Let’s start with a few positives: most viable transactions are entered into for three reasons: making a profit, lowering expenses or raising capital. Making a profit is easy to establish and is rarely questioned.

Examples include opening up a branch in a new location where your product would be popular, forming a joint-venture, developing a new product… etc. Lowering expenses would include such things as combining a group of subsidiaries to obtain economies of scale, purchasing a supplier to vertically integrate operations, or outsourcing parts of your business to an organization that is more efficient. And raising capital involves debt and/or equity financing. All of the preceding transaction are standard, run-of-the mill business activities that would never be questioned by the service.check this site!

Let’s turn the equation around and look at some things that are often included in a fraudulent tax promotion, thereby providing us with potential warning signs that something is amiss:

Offshore Entities: first, there is nothing inherently wrong with moving some of your assets offshore. In fact, it may make sense from an asset protection perspective. But some of the more infamous tax scams involved offshore financial centers, largely because these jurisdictions also have fairly aggressive secrecy provisions.

Adding to the potential problem is the IRS’s offshore enforcement has been far more aggressive over the last 3-5 years. A good rule of thumb is this: if you don’t already sell your product offshore, don’t make your first international transaction one that involves an offshore financial center with strong secrecy laws. It just doesn’t look that good from a compliance perspective.

Tax heavy literature: some of the most famous tax scams have sales literature which heavily discusses the tax benefits of a transaction. In fact, this may be the subject of a vast majority of the literature. If you receive promotional materials that talk heavily of tax benefits, you should probably have the plan checked out by a neutral third party.

A legal opinion: while this might sound counter-intuitive, a bit of history will explain why this could be a warning sign. In the 1990s, the tax shelter industry was in full force. Large accounting firms designed densely structured plans that were exceedingly complex. In fact, their sheer complexity was determined to be a negative selling point as potential buyers simply wouldn’t understand the structure. Enter large law firms who wrote impressive opinions that essentially said, “This is legal.”

Unfortunately, both the accounting firms and law firms had determined the fees they could make were far larger than the potential pay-outs in the event the IRS ruled against them. In addition, most of the opinions were, well, not well done (all of the preceding is contained in a report published by the US Senate Finance Committee).

If someone says the plan has been pre-approved by a law firm, have an independent attorney evaluate the plan. And, as a last resort, ask if they will help you to get a private letter ruling from the IRS. If they balk at this, chances are there’s a problem.

An overly complex structure: most business transactions area actually remarkably simple: company x buys company y, company x combines two sub-divisions into one company, etc… If someone has a multiple step plan question the validity of each step. Chances are, some steps are there for no other reason than to obfuscate the transaction’s true purpose.

The transaction falls outside your business “comfort zone:” Suppose you own a company that manufactures steel pipes. One day, someone (a stranger or trusted adviser) says to you, “have you ever thought about investing in the publishing rights of a new book? It’s a very lucrative business.” While you have years of experience in the pipe manufacturing business, you don’t know anything about the publishing business. So, why is someone asking you to invest in this business? Yet, this exact thing happens fairly regularly in the tax shelter business, as promoters sign people up to start-up businesses in areas of the market in which they have absolutely no knowledge.see for more info.

Tax Scam

No tax substance: there is an entire branch of law called “anti-avoidance law” a doctrine that spans over 1000 individual citations and 80 years of legal history. While there are technically 5 different doctrines an argument could be made that there is only one, two, four or five due to a regrettably consistent judicial confusion on some of the more subtle nuances.

However, all of these come down to a few basic principles: the transaction was only entered into for tax reasons, thereby meaning there is no meaningful tax substance to the transaction. Regrettably, most promoters have absolutely no knowledge of this area of law, meaning the plans they propose won’t withstand judicial scrutiny.

Tax Credits & Deductions for Parents

Tax Credits & Deductions

As a parent, there are various tax credits and deductions that you might be able to benefit from. It is important that you are fully aware of all the tax credits that apply to you so that you can lower your tax liability and increase your refund amount, if you are eligible for one. Goldman Gantenbein, LLC’s Colorado tax lawyers at has listed some of the many credits that should have on your radar if you have children. According to the IRS, these tax benefits include the following:

Claiming Children as Dependents—Parents are typically able to claim their qualifying children whom they support as dependents, which can help lower their tax liability. In order to be a “qualifying child,” the child must meet certain age and residency requirements, along with various other requirements. To learn more about the requirements for claiming children as dependents, refer to Publication 501.

Child Tax Credit—Do you have a child who was under the age of 17 by the end of 2014 and who is considered a qualified dependent? If so, you may be eligible for the Child Tax Credit, which provides for a credit of up to $1,000 per child. More information about these tax credits is available in Schedule 8812 and Publication 972.

Adoption Credit—Did you recently adopt a child? You should consider whether you qualify for the adoption credit. This provides a credit for qualified adoption expenses that were paid in 2012 or 2014, when certain criteria is met. Form 8839 provides further information on this credit.

Child and Dependent Care Credit—This is a credit for parents who paid for childcare for their dependent children, who must have been under the age of 13 to qualify. This credit, which can be for up to 35% of your childcare expenses, can only be claimed if the parent was working or looking for work at the time that the childcare was provided. Want more details on this credit? Refer to Publication this link!

Self-Employed Health Insurance Deduction—In 2014, were you a self-employed person who paid for health insurance coverage? If so, the health insurance premiums you paid for your child may be considered a deduction under the Affordable Care Act. It is not required that your child was actually your dependent, but he or she must have been age 26 or younger at the end of 2014. Want to know more? Read Notice 2010-38.

Earned Income Tax Credit—This credit is for individuals whose incomes were below a certain threshold. The income threshold depends on whether you are, and it also depends on how many dependent children you have. Those who qualify may be able to benefit from a credit of up to $6,044. There are many parents who may qualify for this credit. Go to Publication 596 for more information on the EITC.see more detailed post:

Higher Education Credits—The federal government offers multiple tax credits for those who paid for the college education of an immediate family member, which can be a child. The credits include the American Opportunity Credit and the Lifetime Learning Credit. In addition to reducing their tax liability, some parents are even eligible to get money back. See

Publication 970 to learn more.

Tax Credits & Deductions

Deductions for Student Loan Interest Paid—If you paid qualified interest on a student loan for your child, you can make deductions from your taxable income. Get more information about this opportunity by reviewing Publication 970.

Our team at Goldman Law handles a broad spectrum of tax law issues. Contact our firm for a knowledgeable Colorado tax attorney who can provide you with the assistance you need!