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Having perused some of the previous pages, you may feel tempted to venture into the unfamiliar realm of tax lien investing but wary of navigating this promising new territory alone and unguided. Fear not-if you’ve read these pages, you already know all the basics as well as some of the most helpful, tried-and-true advice and strategies in the tax lien investing world. However, if you’d like to further augment your knowledge, there are educational courses in tax lien investing at your disposal.

Do I Need to Take a Tax Lien Course?

The typical tax lien certificate investing has at least several certificates in various states of redemption in their possession. As a successful tax lien investor, you’ll need to keep tabs on all of these redemption periods as well as the back taxes owed on each respective property. If the accrued taxes are not decreasing, you’ll need to make the necessary arrangements for a foreclosure. There are some legal processes involved with this, which a tax lien course or an attorney can help to clarify. Remember, you are dealing with money and the government here-you want to be sure everything is legal, official, and squared away.

Research is key in tax lien investing-from researching properties to researching available tax lien courses. Don’t just sign up for the first class you see advertised. Keep in mind, you likely know a lot more than you think-and few things are as frustrating as sitting in a class going over and over information you already know, especially when you’ve paid good money to sit there. There are always good investments and bad investments-that goes for education as well as for tax lien certificates.

How do I Know If a Course is Worthwhile?

Any product, including educational programs, comes with some bells and whistles to attract business. Make sure you’re not paying for bells and whistles you don’t need. Jot down a list of any questions on tax lien certificate investing you might have, and investigate whether or not the course you might enroll in will answer those questions. You not only want answers, you want to see how those answers were obtained-just think back to that high school trig class where the teacher scribbled inexplicable answers ad nauseum for a reminder of this very crucial class selecting strategy. In the immortal words of Lao Tzu-
“Give a man a fish he eats for a day, teach a man to fish, he eats forever.”

Some classes will tell you what to invest in and what to do at an auction. Avoid those. Enroll in a course that shows you the how of investing successfully-these will be well worth your time and money.

Developing a successful tax lien investing portfolio sans an instructional course is of course perfectly feasible. The internet abounds with free information on tax lien investing, whether through web articles such as this one or on county website’s. You can also find very helpful books or DVDs on the subject. Tax lien investing courses are not imperative but they can speed you along on your way to a rewarding and lucrative career in tax lien investing.

We’ve seen and heard about the latest investing method on TV informercials, in newspapers and everywhere. Its even said to be so easy its like taking cendy from a baby. They’re talking about tax liens and you should be vary wary.
Tax liens are liens placed against ones property by local counties and similar municipalities for non-payment of assessed property taxes. According to a website I just looked at its states that every county of every state sells these late or derogatory property tax bills for immediate funds after placing a tax lien against the property in question. This did use to be true in the past, but most states don not allow the public sale of property tax liens under any circumstance. One os these states is North Carolina. You cannot legally buy or profit from these sales in North Carolina. Yet these websites state you can – they just want your money for their kit $49 or more. They will take your money and run.

Upon further review over 37 states do not allow the public sale of these tax liens. Furthermore, even if they did the homestead laws in many states would suprecede any supposed foreclosing rights and make it so you could not evict these people from their homes for non-payment. Yet their advertisements state the opposite- good in any state. 5-25% guaranteed returns on every lien and most pay within 1 year, etc… These are all lies. The rule is this – if it sounds too good to be true than it is. If tax liens were such a great business than why isn’t everybody else in it? By the numbers propsed by these shows, infomercials, websites and similar and the fact that this idea has been around for over 5 years there should be many, many millionaires. Where are they?
This scam is similar to ISC (Invention Submission Corporation). They promise new inventors a patent and big royalties. Finally after thousands of coomplaints the FTC looked into many submission companies and found that most just lied, took money and didn’t deliver anything. It was a pure ripoff. This is the same. Keep your money. There is no money to be made by the property tax lien scam.
David Maillie is an alumni of Cornell University and specializes in biochemical synthesis for public, private, and governmental interests. He holds numerous patents and awards for his research. For more helpful information please visit: http://www.mdwholesale.com

While Monaco is a well known European tax haven, Andorra has remained little known outside of the financial community – despite enjoying the same tax advantages and arguably more private banking than her better known rival.

In contrast to the similar financial benefits both Monaco and Andorra residents enjoy, the two small countries have quite different climates.

Monaco has good all year round weather and is located next to the French Riviera, while Andorra is in the Pyrenees and between early December and late April attracts nearly ten million tourists for ski holidays. Monaco has year round tourists, peaking twice a year in May for the Grand Prix, and September for the Yacht Show.

Neither Andorra or Monaco have their own airports Nice airport has a helicopter link, a ten minute ride direct to Monaco, Andorra is not so fortunate and the nearest airport is Barcelona, a three hour drive away from the principality.

Both countries have opted to stay out of the EU, preserving their ability to maintain a no income tax policy.

The biggest difference is the entry price for becoming a resident which entails buying or renting a house or apartment.

One bedroom apartments in Monaco start at 800,000 Euros, but in Andorra the same size apartment starts at less than a third of the price at 250,000 Euros. And while a house in Monaco is a rarity, there is a good choice of houses for sale in Andorra, with prices starting at under a million Euros.

Rising Prices

Given Andorras property price advantage for would-be residents choosing between Europes primary tax havens, it has come as a surprise to many that the closing costs for buying a property in Andorra has not only been less than half that of Monaco, but also less than buying a property in many other mainland European countries at around four and a half per cent.

But Andorra has just raised property closing costs by introducing a three and a half per cent sale of goods and services tax on property purchases from January 1, 2006 – bringing the tax haven more in line with neighboring France and Spain.

Demand for property in Andorra and Monaco is unlikely to be affected by the recent increases though, according to European tax haven specialists Tribune Properties.

Andorra and Monaco have historically seen an increase in property activity and residency applications when taxes are increasing elsewhere. The new German government has recently increased the top rate of income tax and the United Kingdom has seen an increase in the number of indirect taxes, making the zero per cent personal income tax both Andorra and Monaco offer an attractive preposition to high income earners.

Andorras property inflation has been over ten per cent annually for the last three years, and when the 2005 figures are released we would expect it to be four years in a row, with no sign of a leveling off of demand for the year ahead.

With Andorra and Monacos high speed cable and broadband internet access more and more company owners are moving their residence to low and no tax countries and running their companies from a distance geographically, while being able to share information with their head office in real time.

As well as buying a property in Andorra or Monaco, both countries require residency applicants to establish a local bank account and deposit around 50,000 Euros (Andorra) or 100,000 Euros (Monaco), take out private health insurance, and to live there for six months of the year.

Tax shelter, which is also known as tax haven, generally refers to the countries or regions imposing low or even no tax on enterprise property or income. Tax havens are usually characterized by steady politics, convenient transportation, easy commercial environment, complete legal system, as well as strict bank secrecy laws and trade secrets law, etc. Taxpayers might take advantages of these characteristics to evade the taxes. Bahamas, Morocco, Bermuda, Cayman Islands, Panama, Costa Rica, etc, are all recognized as tax havens all over the world. The Organization for Economic Cooperation and Development (OECD) considers that a country with no tax or only symbolic tax on liquidity management activities, as long as it meets one of the following three additional conditions, it shall be regarded as one tax haven: (1) it doesn’t exchange tax information efficiently with other countries; (2) it provides tax preference to the taxpayers in non-transparent ways; (3) the nonresidents in tax havens can enjoy preferential tax without substantial business activities. Multinational taxpayers make use of tax havens to evade taxes, mainly through setting “shell company” in tax havens, collecting the offshore property and income under the account of the shell company in order to evade the taxes in its original country. The so-called shell company refers to the companies which are established in tax havens yet controlled by foreign shareholders actually, and the main economic activities are beyond the tax havens. The specific ways of evading taxes through shell company are introduced as follows:1.Transfer the business via the shell company to realize the cross-border transfer of the profits. For example, a batch of goods in country A which should be sold to country B, yet sell to the shell company in tax haven with a low price first, and then sell to country B with a much higher price, however, the goods are actually delivered directly form country A to country B. In this way, most of the profits are transferred from country A to the shell company. Therefore, when multinational taxpayers adopt this way, they usually combine the methods of transfer pricing1 and unreasonable absorption cost2.2.Utilizing shell company as holding company, collect all the affiliated companies’ profits in the form of dividends, so as to exempt from or hold over the taxes of the parent company. 3.Utilizing shell company as trust company, transfer the properties beyond the tax haven into the trust property of the shell company fictitiously, so its business income can exempt from or get less taxes.In addition, multinational taxpayers also utilize the shell company in the form of insurance company, financial company, patent company as well as service company, in order to avoid international taxes. Due to the great harms of tax havens, governments of all countries and international organizations pay high attention on the tax havens. At the same time when the developed countries attack the tax havens, China’s new tax law enacted a series of new regulations against tax havens. Specifically, there are two aspects as follows:1.The new Enterprise Income Tax Law unified the income taw system from the tax law, tax rates, pre-tax deduction, tax preference and administration of collection, so as to harmonize the income tax treatment to various enterprises, and create a fair tax system for both domestic and foreign-owned enterprises. Formerly, some domestic enterprises set up the registered place in tax havens in order to enjoy the preferential tax policies for foreign enterprises. Since the new tax law came into force, the phenomenon that the domestic and foreign enterprises with different tax benefits have vanished.2.The new tax law unified the income tax of both domestic and foreign enterprises, and the tax preference is biased to new and innovative enterprises. Especially, the definition of resident enterprise has been clarified and strengthened. The enterprises setting up according to foreign country’s law, but have the actual management institution within China’s territory shall be treated as resident enterprise, thus effectively plug up the loophole in tax havens. Early in 2009, the State Administration of Taxation has issued Special Tax Adjustment Measures (for trial implementation), under the Chapter 8 formulates a detailed plan to administer the controlled foreign enterprises. In the scheme, the enterprises in line with the standard of controlled foreign enterprise shall provide the investing information in annual enterprise income tax declaration, and distribute income tax in accordance with the dividend distribution.In conclusion, Chinese law has established the regulatory framework aims to tax havens. Therefore, the foreign investors, who have the intention to invest in China, shall pay attention to the new tax rules containing the tax havens, inquire upon the new changes in legal environment via professional China law firm or business consultant, in order to make an correct and effective investment strategy. ——————————————————————————–1. Transfer pricing refers to a common method that the multinational affiliate enterprises evade the taxes through unreasonable transaction price.2. According to the permanent establishment principle, permanent institution can share the reasonable part of total organization management fees in the accounting profits. The head office and branches of affiliate companies utilize this principle to increase the cost of an organization, through the way of unreasonably apportion, to reduce the profits of this organization, and thus evade the national tax.

by Jennifer Degtjarewsky

Legislation recently enacted by the government of Louisiana calls for the placement on the form used to file state individual tax returns of a checkbox that can be used to donate part or all of any refund due to the Louisiana Animal Welfare Commission.

The legislation, for which the Louisiana Legislature voted unanimously, also calls for individuals to be able to indicate on the form the specific amounts of money they wish to contribute.

Twenty percent of each donation received will be used to cover processing expenses. The remainder will be paid to the Commission “on or before March 1st of the year following the year in which the tax return was filed.”

Much of the funding obtained will be used to create and operate spay/neuter clinics intended to reduce the number of homeless cats and dogs in the state.

“Louisiana has a tremendous (animal) overpopulation problem,” said a representative of The American Society for the Prevention of Cruelty to Animals. “Stray cats are everywhere.”

2003 Animal News Center, Inc.

Exemptions reduce your taxable income for the year and are divided into two categories: personal exemptions and dependent exemptions . Each exemption is worth $3,500 for the 2008 tax year, but different rules apply to each type of deduction. Usually, you can claim one exemption for yourself, one for your spouse if you are married, and one for each dependent if you have children. However, if another taxpayer claims you as a dependent, or is entitled to claim you as a dependent, you are not eligible for a personal tax exemption.The following list shows the tax exemption effect on your gross income:Tax Exemptions Number of Tax Exemptions: Allowed Tax Deduction 1: $3,500 2: $7,000 3: $10,500 4: $14,000 5: $17,500 6: $21,000 7: $24,500 8: $28,000

9: $31,500 10: $35,000 Personal ExemptionsYou may generally claim one exemption for yourself if you are a single taxpayer.If you are married and file a joint return, you are able to claim one exemption for yourself and one for your spouse. If you file a separate return, you are only able to claim your spouse for an exemption if your spouse is not filing a return, has no gross income, and was not the dependent of another taxpayer. If your spouse dies during the tax year, you are generally allowed to claim their tax exemption for the year.You must be married on the last day of the tax year to claim a tax exemption for your spouse on your tax return, and if you obtain a final divorce or separation decree by December 31st, the last day of the tax year, you may not claim your spouse’s tax exemption.

You may be able to take additional personal exemptions, up to $500 each for a maximum of $2000, for providing housing to persons displaced by tornadoes, storms, or flooding in a Midwestern disaster area. Exemptions for DependentsA person may qualify as a dependent, and be eligible for a tax exemption, if they are a Qualifying Child or Qualifying Relative. There are five essential tests that an individual must pass in order to be considered a Qualifying Child for a tax exemption:The child must be your daughter, son, foster child, brother, sister, half brother, sister, half sister, step sister, step brother, or any descendent of the above listed. The child must be either any age and permanently or totally disabled, under the age of 24 at the end of the year and a full-time student, or under the age of 19 at the end of the year. The child must have not provided more than half of his or her own support for the year. The child must have resided in your home for more than half of the year. You must be the person who is entitled to claim the child if the child is a qualifying child for more than one individual . If your child was born on or before December 31st, and all five of the tax exemption tests are met, then you may claim the child for a dependency tax exemption on your tax return. You may also add exemptions for dependents that are Qualifying Relatives. An eligible Qualifying resident must meet the following four requirements:The person cannot be the qualifying child of another taxpayer or your own qualifying child. The person must be related to you in one of the following ways: they may be your child, stepchild, adopted child, grand child, great-grand child, son or daughter in law, father or mother in law, brother or sister in law, parent, brother, sister, grand parent, step-parent, stepbrother or sister, half brother or sister, and, if related by blood, uncle, aunt, niece, or nephew. The person’s gross income for the year must be less than $3,500. You must supply more than half of the person’s total support for the year. There are many additional rules and qualifications that apply to tax exemptions. Reductions of ExemptionsThe tax deduction for personal exemptions begins to phase out after your adjusted gross income (AGI) reaches a certain limit. If your AGI exceeds the limit, determined by your filing status, you must reduce the dollar amount of your exemptions by 2% for each $2,500 that your AGI exceeds the limit set out below. You can only lose up to 50% of your exemptions through phase-out AGI reductions. The AGI income ceilings are listed below and divided by filing status:Phase-out of Exemptions:Married Filing Separately $119,975 Single $159,950 Head of Household $199,950 Married Filing Jointly $239,950 Qualifying widow(er) $239,950
To learn more about tax exemptions and find tax tips to help you maximize your tax savings, visit http://www.efile.com/taxes-exemptions.asp. Estimate your federal taxes free at http://www.efile.com/tax-calculator.

Tax evasion is illegally avoiding paying taxes, failing to report, or reporting inaccurately. The most common one is failing to report cash income. The government imposes strict and serious penalties for tax evasion.Tax evasion is different from tax avoidance, which is making use of legal methods to minimize tax due. There are many deductions you can legally claim to reduce your tax liability, for example if you have dependents (the more dependents, the lower your taxes), if you have certain medical expenses or if you contribute to certain retirement plans or to charitable organizations. Taking advantage of them and keeping your tax bill to a minimum is quite legal and if you do that you are guilty of no crime. However, when companies, individuals, or any other legal entities intentionally avoid their legal responsibility, that is tax evasion and the penalties are severe, including prison terms and hefty fines.The Internal Revenue Service (IRS) oversees the regulation of taxes. It also prosecutes any person or entity that avoids payment of taxes due, and can assess penalties.The IRS has nearly 3000 special agents who are trained to gather the information used to detect tax evasion. They have access to tax returns, the power to issue a summons for access to further financial information, and the right to seize or freeze monies in the attempt to collect the necessary financial information.The IRS audits some taxpayers at random each year, but most audits are a result of unusual activity. If a person claims a lot of deductions in proportion to their income, or if a person with a lot of assets declares a very small income, an audit may result. If it is established that taxes have been intentionally evaded, the IRS can levy tax liens, seize assets, freeze money in check and savings accounts, and garnish wages. Any and all properties held by the individual taxpayer can be seized and sold at auction if no attempt is made to repay the liability.Everyone that is determined to be involved in an evasion of tax liability has the right to meet with the IRS and be heard. Should you find yourself in this situation, it would be wise to engage a tax attorney.There are three crimes with which an individual may be charged:* Tax evasion: This is a felony and a conviction can carry a prison sentence of up to five years and/or fines up to $100,000.* Filing a false return: The government does not have to prove the taxpayer intended to evade tax laws, just that the taxpayer filed a false return. This is a felony and can result in a prison sentence of up to three years and/or fines up to $100,000.* Failing to file a tax return: This is a misdemeanor and can result in a maximum prison sentence of one year and/or fines totaling up to $25,000 for each year for which no return was filed.Many individual taxpayers rely on accountants and business managers to handle their financial affairs and may not be aware of the status of their finances. However, the individual taxpayer is responsible for the information provided to the IRS. Do yourself a favor and examine your return, understand what you’re reading, and check that it is accurate.

Tax Evasion Penalties Are Severe – A Tax Attorney Can Help

Tax evasion is illegally avoiding paying taxes, failing to report, or reporting inaccurately. The most common one is failing to report cash income. The government imposes strict and serious penalties for tax evasion.
Tax evasion is different from tax avoidance, which is making use of legal methods to minimize tax due. There are many deductions you can legally claim to reduce your tax liability, for example if you have dependents (the more dependents, the lower your taxes), if you have certain medical expenses or if you contribute to certain retirement plans or to charitable organizations. Taking advantage of them and keeping your tax bill to a minimum is quite legal and if you do that you are guilty of no crime. However, when companies, individuals, or any other legal entities intentionally avoid their legal responsibility, that is tax evasion and the penalties are severe, including prison terms and hefty fines.

The Internal Revenue Service (IRS) oversees the regulation of taxes. It also prosecutes any person or entity that avoids payment of taxes due, and can assess penalties.
The IRS has nearly 3000 special agents who are trained to gather the information used to detect tax evasion. They have access to tax returns, the power to issue a summons for access to further financial information, and the right to seize or freeze monies in the attempt to collect the necessary financial information.
The IRS audits some taxpayers at random each year, but most audits are a result of unusual activity. If a person claims a lot of deductions in proportion to their income, or if a person with a lot of assets declares a very small income, an audit may result. If it is established that taxes have been intentionally evaded, the IRS can levy tax liens, seize assets, freeze money in check and savings accounts, and garnish wages. Any and all properties held by the individual taxpayer can be seized and sold at auction if no attempt is made to repay the liability.
Everyone that is determined to be involved in an evasion of tax liability has the right to meet with the IRS and be heard. Should you find yourself in this situation, it would be wise to engage a tax attorney.
There are three crimes with which an individual may be charged:
* Tax evasion: This is a felony and a conviction can carry a prison sentence of up to five years and/or fines up to $100,000.
* Filing a false return: The government does not have to prove the taxpayer intended to evade tax laws, just that the taxpayer filed a false return. This is a felony and can result in a prison sentence of up to three years and/or fines up to $100,000.
* Failing to file a tax return: This is a misdemeanor and can result in a maximum prison sentence of one year and/or fines totaling up to $25,000 for each year for which no return was filed. Many individual taxpayers rely on accountants and business managers to handle their financial affairs and may not be aware of the status of their finances. However, the individual taxpayer is responsible for the information provided to the IRS. Do yourself a favor and examine your return, understand what youre reading, and check that it is accurate.
The author believes that filing tax returns should be as simple and painless as possible and that every taxpayer should take advantage of the many ways to legally keep taxes to a minimum. Read more at http://www.taxassistonline.com

Tax Evaders, Beware! Agents Using MySpace, Facebook to Hunt You Down!

If you’re a member of an Internet site like MySpace, Facebook, or Twitter, you might want to rethink posting everything and anything about your life. The tax man could soon be knocking at your door.

The Wall Street Journal reports that some state tax agents are scouring social networking sites looking for information on people who owe back taxes. Anything that can be utilized to locate these individuals will be. For instance, one tax evader announced on his MySpace account that he would be moving back to Minnesota to accept a new job and even gave the name of his employer. Tax agents looked up the employer, found the individual, and collected several thousand dollars in back taxes. A deejay in Nebraska forked over $2,000 in taxes due after he informed folks from his MySpace page that he was working at a large public party. And being vague about your personal information may not be enough to protect you. One individual in California identified himself as a rigger of sails. An ingenious tax agent did an on-line search, discovered a discussion board used by local riggers, and learned the individual in question had closed his store and moved across the bay. One face-to-face later, the agent was collecting a check.

Most searches for tax evaders starts with examination of public records, such as motor vehicle, bank, and employment records. When agents run into a dead end, more are turning to the Internet and Googling these individuals. Failing that, they turn to social networking sites, discussion boards, and chat sites as last-ditch efforts to find their quarry.

MySpace is turning out to be a more productive site for locating tax dodgers because of its layout. Adults who use MySpace allow all members to view their profiles by default. Facebook, on the other hand, allows users to keep their profiles private and only display them to friends. Since agents are only allowed to access publicly-available data, MySpace works to their advantage. Agents are not allowed to “friend” people on other social networking sites using false information.

In the workplace, the tendency these days is for employers to block access to Web sites that would detract from employee productivity. That would include social networking sites. However, some state government agencies are reconsidering that policy. Several are looking at the success rates of states like Nebraska, Minnesota, and California that already use these sites, and checking into the possibility of launching similar programs. (For the record, the Wall Street Journal reports that a spokeperson from the IRS declined to comment on whether its agents were using similar methods to locate federal tax evaders.)

Bottom line? You might think you’re pulling one over on the tax collector, but be warned: Being open on the Internet could end up making you open your wallet.

Have you ever had problems with taxes? It is always difficult to understand what to pay and when, system is very complicated and you need to have degree to do everything right. But if you dont pay taxes or dont pay them in time, you will have a lot of problems. When somebody hears IRS, he starts to remember if he paid taxes. It could be a good joke if it werent so serious. If you dont pay taxes you can even get to jail. There are very rare cases, but they exist. So, as it is considered as diligent citizen, you should control your taxes. But if it difficult for you to manage your finances, you can get help in specialized company, like Tax Defense Network.

This company was created to help people to clear off their debts with IRS. Method of their work is very simple: they use your particular company situation and develop special strategy to help you. Tax Defense Network (http://tax-defense-network.pissedconsumer.com/) has in its stuff a lot of qualified employees who can use their knowledge of IRSs programs and services. Among them you can find ex-IRS agents, tax attorneys. Also there are tax analysts and enrolled agents. This stuff allows company to provide you with the best assistance and IRS mediation.

You can have different tax problems, like federal tax lien, bank levy, delinquent payroll tax, tax penalties and interests and wage garnishment, Tax Defense Network is here to help you. They will offer you three easy steps to regulate your situation. First of all you should contact companys representative any way you like: by phone or you can fill in the form on the website and explain your problem. On the next step Tax Defense specialists will find the best IRS program to solve your case. And at last, you will get quality customer service.

Here are the ways which Tax Defense Network uses in its work. Offer in compromise. According to this method, you will get an agreement between you and IRS which will close debt and you will pay less amount then you owed.

Installment agreement is an agreement when tax payers have to pay monthly definite amount during the period necessary to pay off whole sum. Monthly payment is calculated by IRS for every separate person.

Penalty abatement. You pay penalty in order to encourage yourself to make payments in time and follow internal revenue code. According to compliance you prepare returns, fill it and make necessary payments. In order to avoid penalty you should have very valid reason, like death of family member or serious health problem.

Innocent Spouse. When couple has a debt they hold equal responsibility. But in case when one spouse underestimated the tax liability, and other signed the return, the first spouse isnt responsible for paying penalties.

Currently not collectable. If IRS will classify you as “Currently not collectable” in definite reasons, you will be able not to make payments for some period of time until your situation will improve.

Appeals. If you are not agree with IRS methods or services, you can appeal to Appeals Division. Your appeal will be examined.

As you can see you can contact Tax Defense Network to solve any tax problem.