TaxCaffe is a multistate tax analysis firm offering support to small businesses and individuals. Main services offered are tax research, tax compliance, instant online access to a large array of tax issues, audit support and business friendly states analysis. Major industries served are semiconductors and software development. For more information on the type of services we offer and the related cost please follow the links. TAX REFORM On January 7, 2005, President Bush announced the establishment of a bipartisan panel to advise on options to reform the tax code to make it simpler, fairer, and more pro-growth to benefit all Americans. The Advisory Panel submitted the final report on November 01, 2005 to the Secretary of the Treasury, John Snow. MEDIA MONITORS TAX REFORM Mortgage deduction blocks tax reform - CNN Major federal tax reform - CNN Tax Breaks Need More Attention - FOX News Bush Panel May Curb Tax Breaks for Homeowners, Health (Update3) - Bloomberg.com US Treasury Secretary John Snow - Remarks to The National Association of Wholesaler-Distributorsí Executive Summit, Washington, February 02, 2006 "The President's Tax Reform Panel did excellent work under the leadership of the two co-chairmen, former Senators John Breaux and Connie Mack, and we're reviewing their proposals now. We only get the chance to reform the code every twenty years or so, so we've got to make sure it's done right. We're not going to rush the reform process because America deserves a tax code that meets the President's goals for fairness, simplicity, and economic growth." CHANGES CONSIDERED BY PANEL Alternative Minimum Tax Income tax vs. ... National Sales Tax or European inspired VAT or flat tax Tax on earnings vs. tax on spending - Income Tax or National Sales Tax Limits on personal tax deductions - mortgage interest, property tax, charitable contributions Limits on business deductions - employer paid health insurance premium SERVICES The answers to one's tax questions lay in the overwhelming tax laws provided by Congress. Our role is to "translate" the terms of the code in order to empower you, the Client, to make informed decisions. TaxCaffe is a tax analysis firm offering support to small business and individuals. We are not looking to replace your current tax preparer be it a CPA, tax attorney or enrolled agent. The tax impact of your business decisions is best known prior to the point of no return. Samples of client tax analysis are available for view on this web. TAX RESEARCH and ANALYSIS TAX COMPLIANCE for existing clients and upon request (Partnerships 1065, Individual 1040, Corporation 1120, Estates and trusts 1041) AUDIT EXAMINATION - support, education and knowlegibility INSTANT ONLINE ANSWERS to given tax issues BUSINESS FRIENDLY STATES - Comparative Analysis HOW TO ORDER For online solutions to tax questions you can get instant access using a valid credit card. Please note that the credit card will be charged at the time you place the order. For tax analysis you will need to contact us at firstname.lastname@example.org in order to determine the level of complexity. The information you need to provide at this stage is a description of your research issues as detailed as possible and the level of research i.e. federal or state along with contact information - name, e-mail address, telephone, fax number. Once we receive your inquiry and assess the complexity and cost of the tax analysis TaxCaffe will contact you with lead time and final cost of your order. Rush charges are imposed on deliveries made in less than normal lead time. DISABILITY Insurance PERSONS required to make tax returns BUILT-IN-GAINS - S Corporation REASONABLE COMPENSATION - Corporation "There are two systems of taxation in our country: one for the informed and one for the uninformed." Honorable Learned Hand, US Appeals Court Justice When one thinks of taxes the first thing comes to mind is the IRS. The players in the tax equation are numerous and the IRS is only one of them. The Congress through the House Ways and Means Committee (a specific committee in the House of Representatives) is the body that generates the tax laws. They are incorporated in the Internal Revenue Code or Title 26 of the US Code As a result of the complexity of the tax code two other primary sources of authority are available i.e. judicial interpretations and administrative interpretations. Congress granted authority to the Treasury Department who charged the Internal Revenue Service with the responsibility of enforcing "all the needful rules and regulations" or in other words to administer the federal tax law. Secondary sources of authority attempt to shed more light on the intricate tax provisions such as transactional and reference services, articles, treatises etc. "What is the maximum amount that can be expensed annually under Section 179?" "What is "qualified property" for the purpose of 30% or 50% bonus depreciation allowance?" "Am I in possession of constructively received income?" "Do I qualify for the 5% tax bracket on the capital gain?" "What is Distributable Net Income?" "Can I request an abatement of interest and penalties following an examination?" "What is the maximum deduction for a non-active participant in an employer-sponsored retirement plans?" "Does the partnership agreement have substantial economic effect?" OUR PHILOSOPHY "Today it takes more brains and effort to make out the income-tax form than it does to make the income". Alfred E. Newman One can challenge the above statement just by referring somebody to a low cost or no cost income tax return software available on the market today. "Terms of art", "limiting language", "pinballing" and "sunset provisions" are just a few of specific tax provisions that make identifying the issue more challenging than a software can handle. A reputable tax advisor will be able to provide clients with a concise tax analysis reflecting the supporting rationale to the question or issue raise by the client. It might be brought upon the tax professional the role of not only advisor but also planner, when creative ideas are expected. There are times when the ultimate decision belongs to the well informed client. "Anyone may so arrange his affairs that his taxes shall be as low as possible; he is not bound to choose that pattern which will best pay the Treasury; there is not even a patriotic duty to increase one's taxes." Honorable Learned Hand US Appeals Court Justice ART LINKS National Gallery of Art Washington D.C. Louvre Museum The British Museum National Gallery of Australia TAX LINKS FirstGov.gov Department of the Treasury Internal Revenue Service TaxAct CONTACT US If you are interested in our services or have any questions please feel free to contact us at any time. E-mail: email@example.com DISCLAIMER The opinions expressed on this website are based solely on the representations made by clients. Any deviation in facts from the statements made may result in material modification to, or revocation of, the opinions expressed herein. The opinions expressed herein may not be relied upon by any other party except yourself. The content of this site may not be referred to, copied, quoted or disseminated without the express written consent of the undersigned. The opinions expressed are limited to those applicable federal income tax laws that apply as of the current date. Future court decisions or legislative action may defeat the opinions expressed herein. This letter denies any duty for updates for subsequent factual developments or changes in applicable laws. TaxCaffe renders no opinions regarding valuation or accounting matters and does not express any expertise as regards to such matters.
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TaxCaffe is a multistate tax analysis firm offering support to small businesses and individuals. Main services offered are tax research, tax compliance, instant online access to a large array of tax issues, audit support and business friendly states analysis. Major industries served are semiconductors and software development. For more information on the type of services we offer and the related cost please follow the links.
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