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Should I Take Tax Law and Advisory Courses?
from:Many business owners have lots of tax questions. Of course, your tax attorney can help you out and answer all of your questions, but there are times when it might be advisable to take tax law and advisory courses yourself, to help you stay abreast of the tax requirements for your business. Here are some things tax law and advisory courses can do for you:
• Help You Better Understand Tax Law – Most of us rely somewhat blindly on our tax attorneys because we have little knowledge on how the tax laws work. But, by taking tax law and advisory courses, we can gain a better understanding of the tax laws for ourselves. Of course, you’ll still have to consult your tax attorney for many things, but you’ll have a much better handle on the issue overall if you learn for yourself.
• Help You Understand Tax Changes – Many business owners take one day tax law and advisory courses each year that are just designed to cover the changes to the tax law for the upcoming year. These quick classes can help you stay abreast of changes and how they might affect your business.
• Save You Money – Of course, tax law and advisory courses cost money. However, they will pay for themselves very quickly if they eliminate some calls to your tax attorney. When you can handle some of your tax issues yourself, you’ll immediately reduce the number of billable hours your attorney is charging.
• Help You Look For Creative Ways to Reduce Taxes – If you better understand the tax laws, you can structure your business in ways that can help you reduce taxes, take advantage of additional deductions and avoid tax pitfalls. Though your tax attorney is there to help you, he doesn’t know the ins and outs of your business the same way that you do, so it’s unlikely that he will be able to make all the suggestions you need to structure your business in a way that legally minimizes taxes.
It’s not likely that you’ll ever eliminate the need for a tax attorney. But, by taking some tax law and advisory courses, you can become more educated about tax laws and how they affect your business. Doing so will make you a smarter and savvier business owner, and may well save you some money along the way. When you’re ready to find these courses, contact your local university or community college to find out about the classes they offer. These classes are typically inexpensive and may count toward continuing education credits, too.
Uk Tax Law Cases News
Thousands of government staff could have avoided paying tax
A CRACKDOWN has been ordered on UK government employees who avoid paying tax after an investigation revealed that 2,400 were found to be “off the payroll”.
Read more...BAT says ruling allows it to pursue $1.7 billion tax claim
LONDON (Reuters) - British American Tobacco Plc and other claimants are now able to pursue the recovery of over a billion pounds in UK tax payments dating in most cases back to 1973 after a favourable ruling by the Supreme Court of England and Wales. BAT is the main company in a group of 25 that claimed they were subject to double taxation on the distribution of foreign sourced income from the ...
Read more...UK companies cut secret tax deals
Major UK-based firms cut secret deals with authorities in Luxembourg to avoid paying millions in corporate tax in Britain, a BBC Panorama investigation finds.
Read more...UPDATE 1-BAT says ruling allows it to pursue $1.7 bln tax claim
(Adds further details) LONDON, May 23 (Reuters) - British American Tobacco Plc and other claimants are now able to pursue the recoveryof over a billion pounds in UK tax payments dating in most casesback ...
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