Innovative And Frugal Ideas For Investment And Payment Of Taxes

Amazon paid no corporate or income tax last year. The company’s profits doubled over the past nine years but the company paid a negligible amount of taxes. Why? Well, Amazon reduces its tax bills precisely because it reinvests those profits into its operations every single year. Under a scenario where Amazon had no corporate tax breaks, it would disincentive the company from reinvesting. Professionals, like Brussels tax specialists, advise firms on how to invest their capital and create value for the economy in other ways than by paying taxes as corporate taxes are the biggest expense for a business which can go as high as 40%.

Here are a few examples of how a firm can invest in itself and reduce their tax bills:

1. Investment in Research & Development: Silicon Valley startup “gThrive” makes wireless sensors that look like plastic rulers — farmers can stick them in different parts of their fields and collect detailed information about soil conditions. The data allows growers to optimize their use of water while improving the quality of their products and yields. It’s a very helpful device in California, which faces major water shortages, and can pay for itself within one year. This type of development can help the company generate profits and receive huge tax credits for such research at the same time.

2. Investment in Property, Plant, and Equipment: Walmart, for instance, is always expanding to new locations and with it comes the requirement to buy land and more inventory to sell. The grocery store depreciates long-term assets for both tax and accounting purposes. Depreciation, which is an accounting method of allocating the cost of a tangible asset over its useful life and is used to account for declines in value, can help the company deduct the cost of the tangible assets they purchase as business expenses, which eventually allows the grocery store to claim the depreciated amount as a tax return.

3. Employee Stock Compensation: Companies like Amazon are paying its employees in stock, which encourages workers to be productive and helps the corporate claim a tax return when the workers sell their shares.

These are a few ways, the company and the economy both grow, a win-win and thus create greater opportunity for businesses and cities in which it operates. In general, a company contributing to the economy’s growth is provided with incentives, like tax credits.

If you are looking for such frugal and innovative for investment and payment of taxes, you should definitely look out for Brussels Tax specialists. 

If you’d like to become a frugal innovator, the first principle to follow is: keep it simple. Don’t create solutions to impress customers; make them easy to use and widely accessible. Rather than over-engineer complex products in insular R&D labs, product developers must observe customers in their natural settings to identify their real challenges and pain points. With this empathetic understanding, they can zero in on features that could solve pressing problems of the users.

Home accounting software firm Intuit’s employees spend more than 10,000 hours a year with their customers to analyse how they actually use their software, gaining valuable insight on how to simplify their software so it delivers greater value with fewer features. But you should first quickly design and launch a “good enough” product with a few features that address the customers’ most fundamental need and then improve it to provide greater value over time

How To Choose a Personal Tax Accountant

Tax Return

You do not need to be very wealthy or a business tycoon to feel the need to hire a personal tax accountant. While businesses do need tax accountants, you may also need one if you find yourself in a miserable condition while doing your own taxes. Tax preparation can be stressful and confusing. Therefore, it is always advisable to get professional help. This can help you get a good tax return and also keep yourself or your business from unnecessary troubles like paying off tax debts and IRS audits. 

However, a personal tax accountant means a monetary expense. So, you should be careful so as to choose the right one for you. Here are a few tips to do just that:

• Retail franchises: there are a lot of retail tax franchises that can provide your competent services in the tax preparation arena. Examples include Liberty Tax Service, Jackson Hewitt, and H&R Block. You can find such tax franchises in your area as well. 

You can even find enrolled agents, certified public accountants and senior tax preparers at such franchises. If you can, try to approach these kinds of professionals for your tax preparation. This is because you will usually have to pay the same price but will get a seasoned professional for your taxes.

• Know the different types of tax professionals: there are different types of tax professionals like Enrolled Agents (EA), Certified Public Accountants (CPA) and Tax attorneys. You should know which one does what best.

EAs have to take examinations and go through background checks conducted by the IRS. Generally, they are the ones you should approach for complex tax situations. These professionals are usually specialists in certain tax areas and can be a great help in availing a tax return. Moreover, they can also represent you before the IRS in case you face an audit. 

CPAs are licensed individuals that clear a rigorous CPA exam and are also required to stay up to date with the tax practices. Unlike EAs, CPAs specialize in certain accounting areas. While some CPAs do specialize in tax accounting, not all of them are so. Nonetheless, they are capable of representing you before the IRS.

Lastly, Tax attorneys are lawyers with a specialization in tax law. Usually, they have a postgraduate degree in taxation law. You should look out for them if you have complex legal matters to be taken care of. This is because they are capable of taking your cases to the tax courts. 

• Interview your potential candidates: you wouldn’t want to hand over a bunch of your files to someone you don’t know. So, it is a good idea to interview potential candidates before making your final decision. You should ask questions about the professional himself or herself and also discuss your situation. 

Besides that, it is good practice to request for references from the tax professional. After that, reach out to those references and discuss how their experience of tax returns, audits, and legal matters was with your potential candidate. 

• Take precautions: before hiring someone, make sure you do a quick background check on the person. For instance, search his or her name on social media platforms and see what’s out there. Also, see what others have to say about him or her. 

Moreover, you can also reach out to the state’s board of accountancy in case of CPAs. Check the status of the license of the individual and whether any disciplinary actions have been taken on him or her. In the case of EAs, reach out to the IRS Office of Professional Responsibility for the same. In addition to that, you may also check out the local chamber of commerce.

Produire Votre Déclaration Fiscale n'est Pas Forcément Un Cauchemar

Déclaration fiscale

Déclaration fiscale

Peu importe la complexité de vos finances, produire votre déclaration de revenus peut être un casse-tête. Vous devez regrouper tous vos documents fiscaux au même endroit  déclarations fiscale avant qu’il ne soit trop tard.

Cependant, si vous avez vraiment des difficultés pendant la saison des impôts, vous devrez peut-être mettre à jour votre processus ou adopter une approche différente. Voici quelques conseils qui vous montreront que la production de votre déclaration de revenus ne doit pas nécessairement être un cauchemar.

• Prenez une longueur d'avance: si vous attendez la fin de la saison des impôts pour commencer à payer vos impôts, vous vous mettez une pression inutile. C'est parce que le processus ne se termine généralement pas en une fois. Mais si vous commencez tôt, vous aurez le temps de résoudre divers problèmes pouvant survenir au cours du processus. En outre, cela diminue également votre vulnérabilité au vol d'identité.

Le vol d'identité fiscale survient lorsque quelqu'un d'autre produit votre déclaration de revenus et demande un remboursement sous votre nom et votre numéro de sécurité sociale. Vous ne le réaliserez peut-être pas tant que vous ne produirez pas votre déclaration de revenus.

• Rassemblez toutes vos affaires au même endroit: il est essentiel de s’organiser pour éviter les problèmes liés aux impôts. Donc, avant de commencer le processus, vous devriez réunir toutes les informations requises au même endroit. Vous serez dans un meilleur état lorsque tous vos documents seront entre vos mains.

Vous devez compiler vos reçus, faire le décompte de vos dépenses et même obtenir votre déclaration de revenus de la dernière année pour référence.

• Connaître les crédits d’impôt et les déductions applicables: Il est important de savoir quels crédits d’impôt et déductions vous sont applicables. Parce que qui veut payer plus d'impôts! Vous pouvez obtenir des déductions et des crédits pour diverses raisons. Beaucoup d'entre eux sont disponibles pour les pigistes, les propriétaires de petites entreprises, les étudiants et les parents qui travaillent. Par conséquent, recherchez des crédits d’impôt et des déductions, car ils sont susceptibles de réduire vos obligations fiscales.

• Engagez un professionnel: C’est le moyen le plus simple de se débarrasser de tous vos problèmes d’impôts. Mais cela a un prix. Par conséquent, vous devez d’abord examiner attentivement si vous avez réellement besoin d’un professionnel pour la production de votre déclaration de revenus.
Une autre chose dont vous devez vous occuper est de vérifier les informations d'identification de la personne que vous allez engager. De plus, assurez-vous de prendre votre rendez-vous tôt afin que le professionnel dispose de suffisamment de temps pour le processus.

• Réfléchissez bien: si vous avez terminé votre déclaration de revenus pour une année donnée, vous ne serez pas totalement gratuit. Les revenus de la prochaine année commenceront également à couler même lorsque vous produirez la déclaration. Donc, vous devriez toujours penser à l'avenir et préparer l'année prochaine. Il s’agit de conserver les documents au même endroit dès le début de l’année.


Si vous avez toujours du mal à préparer vos déclarations, vous devriez envisager de créer un système de classement pour vos documents. En outre, vous pouvez même investir davantage dans des comptes fiscalement avantageux ou dans d’autres moyens de réduire votre fardeau fiscal.

La production de déclarations de revenus est une partie importante de toute entreprise. Cependant, cela ne doit pas nécessairement être un cauchemar. Avec tous les conseils que vous venez de trouver, votre expérience en matière de préparation des déclarations de revenus sera probablement plus agréable qu'auparavant.

Quoi qu’il en soit, vous ne devriez jamais tergiverser lors de la production de la déclaration, même si c’est la chose la plus difficile à faire pour vous. Autant que cela ne vous plaise pas, il est essentiel pour votre entreprise et vous préserve du drame inutile!