Many small companies have paid corporation tax at the 19% rate of corporation tax, and have then extracted profits using a combination of a small salary to cover the personal allowance, and the remainder of the profits extracted via dividends. This is still likely to be a popular strategy to extract profits as its ensures [...]

Tax preparation, defined simply, is the act of preparing and filing of tax returns for individuals and Corporations with State and Federal Government. Pertinent information, especially all liabilities, deductions and exemptions for taxation, is given by the taxpayer to a government tax collecting agency. As a rule, individuals and organizations want to pay their taxes [...]

Clients, with unreported income, may subject tax preparers to criminal penalties, fines, costs of prosecution and up to 10 years imprisonment (2 felonies, 2 misdemeanors): Any person who willfully attempts in any manner to evade or defeat any tax or payment of any tax imposed by the Code is guilty of a felony. A person [...]