Los Angeles Tax Law Explained

By John Scott
The tax laws differ from state to state. The Los Angeles tax laws are particularly complicated and are enough to baffle anyone. The tax laws are also important because they affect the lives of millions living in the city. Thus, the tax attorney is a very important figure in the realm of the city. A good tax attorney will help you understand your unique situation, give you advice as to how you can minimize the tax payments and defends you in case there is an accusation of tax evasion or fraud leveled against you.

The tax attorney is someone who is well trained in matters of law. The most revered of lawyers have the prestigious LLM degree that is the Master of Law Letters. Many clients prefer the attorneys who have an LLM degree because the notion is that the best lawyers of the city have the LLM. These lawyers supposedly provide the best tax assistance.

The Internal Revenue Service does not apply the partial payments made by businesspersons and organizations in Orange County or Ventura County, California, Los Angeles County or Santa Barbara County before January 1, 2003. The IRS, according to their own convenience, applies the payments to the Trust Fund Recovery Penalty. This partial payment is made on Form 941 tax liability and the IRS accepts the payments in accordance with their own priorities. The IRS also sends the Letter 1153 to the businessperson or the organization.

The IRS’s acceptance of payment is prioritized. The liability that accompanies the minimum decree of limitations for collections is first in the list of payment applications. That is followed by the one with the next minimum amount of limitations of collection and so on. This method of payment application followed by the IRS does not necessarily mean that the ones impending for the longest time will be taken care of before others. It is just the tax period that has the minimum collection statute that is given top priority.

The IRS sends the Letter 1153 (DO) to a business executive who owes a certain amount to the IRS and has his Trust Fund Recovery Penalty (TFRP). The Letter 1153 (DO) is sent before June 19, 2000. If the business executive receives the letter and has made the partial payment to the IRS by the Form 941 before January 1, 2003, the IRS assesses his partial payment.

When some business executive has made a partial or undesignated payment in a similar manner as described above, the payment will be subject to application to various taxes. First, the payment will be under the non-trust fund part of the tax, then under assessed lien fees and collections, then under assessed penalties for defaulters, followed by assessed interest, accrued penalties and accrued interest. After all this is over, the payment is ultimately assessed to the trust fund segment of the tax under the IRS.

John Scott provides independent advice on how to choose the best tax attorney for your tax needs. For more information on tax attorney, please visit http://www.taxattorneyplus.com.

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French property and real estate - The legal side

By Mark Russell
Be warned - The Legal situation in France regarding property ownership is very different to that in the United Kingdom. French succession law and is its provisions may come as a surprise to English buyers who are used to the idea of leaving property via wills. Family situations are often complex these days, with second marriages, step children etc and provisions usually need to be made at the time of purchase to avoid difficult circumstances later on.

Tax planning, succession laws and wills The usual method of joint ownership in France is that of indivision. This means that each spouse owns half the property, rather similar to the tenants-in-common situation in England. If a married couple want to buy a property together, they usually want the survivor to have ownership of the property after the first death. This will not automatically happen as the legal nature of the indivision method means that when the first spouse dies, at least half their French estate must go to that person’s children. The remaining spouse therefore does not have freedom to do with the property as he or she wishes.

There are alternative options for tackling the inheritance and succession rules. The important thing to bear in mind is that you need to do any planning before you purchase and not after. A French Notaire will be able to assist you with a French Will, effecting a ’Clause tontine’ if applicable, or a change of matrimonial regime if applicable. Whatever you decide to do, there is likely to be an impact upon the eventual effect of the Inheritance tax situation, so that should be taken into account as well.

Inheritance Tax is more demanding than its equivalent in the UK. There is potentially tax paid upon first death in France, unlike Great Britain where IHT does not impact upon married couples until the second death. Nil rate bands are much less generous than in the UK, although they have been improved in 2005. Tax can be payable at up to 60%, so unmarried couples especially need to plan financially for a sizeable amount of their property/estate to go to the taxman, unless proper precautions are put in place.

Those who decide to go and live in France permanently will find that their worldwide assets are then subject to French succession law as opposed to just the French real property. In these circumstances, it would almost certainly be worth adopting an appropriate marriage regime. Another useful solution to some family situations is to set up an SCI. An SCI is a company set up for the management and letting of property. If the property is bought by the SCI, the members of the SCI own shares rather than property. As shares are considered to be personal property, not real property, then English succession law applies and the shares can be left in accordance with the deceased’s wishes.

Mark Russell is founder of Limousin Homes - The specialists in real estate and property sales in the Limousin region of France. For more information visit http://www.limousinhomes.com

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5 Good Reasons to be an Ex Lawyer

By Kent Holden
Years of defending class action litigation brought rewards. The pace was fast, the stakes were high. It was exciting...but limiting. So I left the law to start a home-based network marketing business in the health and wellness industry, and I discovered a myriad of reasons to be an ex-lawyer. Here are five good ones.

Freedom of Time. I typically worked a 50 to 60 hour week as an in-house litigator. Now I set my desired goals for what I want to achieve in a day, a week or a month and work accordingly. I put in the longer hours if I choose, but I can also cut the day or week short when I've accomplished my goals. I keep time only by the amount of success I have achieved over time, not by tenths of an hour. I get up when my body is ready, go to sleep when I'm tired, bike, write and play with regularity. My new life allows me to take time for things that matter to me.

Earning Potential. Network marketing also permits me to earn both from my own efforts and from the efforts of others to whom I have introduced the business. These associates are not employees. Rather, they are people whom I have helped to start their own businesses and pursue their own goals and dreams. Working with others, rather than for others, creates leverage that geometrically increases my earning power. Contrast this to a salary limited to market rates, an annual increase limited to a predetermined percentage and a bonus limited by economic conditions...NO MATTER HOW HARD I WORK! My income now is directly proportional to my effort, increased by the leverage created through the success experienced by my associates. Clearly it is a win-win for all.

Residual Income. A lawyer must be "lawyering" to be paid. In my network marketing business, however, I derive income from commission on product my customers order as well as a small commission on the product ordered by my associates and their customers. Consequently, I receive a weekly paycheck regardless of whether I am on the job, on vacation or retired. As long as customers and associates continue to use the product, the income also continues. I am a baby boomer building a lifetime "pension" in the form of a residual income, the size of which is limited only by my imagination and consistent effort.

Tax Benefits. My tax benefits as a salaried attorney without children were primarily limited to the deduction of interest on home mortgages. Now, I can also reduce my tax bill by deducting business-related expenses, such as: marketing costs, office supplies, entertainment of potential customers and associates, mileage, the cost of my computer and other electronic equipment, the cell phone bill, business travel, and many, many other items. April 15 has never been the same.

No Barriers. In network marketing, the opportunity to earn and achieve one's personal goal is the same for all. It is not dependent upon education or seniority, nor is it limited by experience level or economic status. Each associate has the same opportunity as I have to increase earnings through leverage and to create a residual income. We begin at the same starting point and walk or run, depending upon personal desire, to our own goal line...a perfect race where everyone wins.

Freedom of time, earning potential, residual income, tax benefits and the lack of barriers to success are only a few of the many positives I have discovered by becoming an ex-lawyer and starting my own network marketing business. Stay tuned.

Businesswoman, Friend, and Team player Ginny Cone assists Women to be success stories and inspiration to others. The fact that you are investigating the home-based business industry is a sign that you have dreams and trust in those dreams. Let me assist you: go to my website and register for the FR.EE newsletter and receive a copy of the FR.EE “Building Business Report”.Visit: Be a BraveHeart Woman

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Law Of Dominate Thought

By Delton Doucet
Earl Nightingale, the great writer, speaker, and broadcaster, discussed the Law of Dominant Thought in his timeless famous recording "The Strangest Secret" by calling it the key to success when he proclaimed, "we become what we think about."

The problem that occurs with many people when they attempt to change their lives by changing their thinking patterns and fail is that they do not make what they are thinking about their dominant thoughts of the day.

You will not and should not expect the changes you desire in your life with thinking positive for just a few moments a day and spend the rest of the day thinking negatively.

Just as a runner who merely jogs a mile a day should not expect to be able to run a full twenty six mile marathon, the changes you seek in your life will not happen with a just a few minutes of positive thinking a day.

To get the changes you truly desire you must take full control and think positive with the anticipation of getting positive results all day long everyday till it becomes a habit.

Up to this point in your life it has been your thought patterns that has led you to your beliefs and it will be up to you to change those thought patterns and create new positive beliefs from this moment on that will lead you to where you wish to be in your future.

You must make your positive thoughts your dominant thoughts in all areas of your life. Only then will you start to see the changes you desire and the life you dream of.

© Copyright 2007 - All Rights Reserved Delton Doucet EmpoweringToday.com

Delton Doucet is the father of 4 awesome kids, publisher of the Empowering Today Newsletter and internet marketer. Delton invites everyone to subscribe to the Empowering Today at http://www.EmpoweringToday.com for great articles, tips, and powerful income opportunities that might be right for you.

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The Secret--Learn The Laws Of Attraction

By Andrew Conway
The movie "The Secret" has been making its rounds, a few months ago Oprah Winfrey picked it up and did a movie review secret show, with promises for another one in the near future. What is the Law Of Attraction?

Essentially The Secret is all about "manifesting" your desires. Continually thinking about what you want in life, centering all your focus around your goals and with enough continual manifesting, these things then come into your life.

The first time that I viewed this movie, I was blown away. My own belief system was interfering in what I just saw. I have read a number of books on self-improvement and I have even ordered a variety of videos by some well known people, but this movie will put you in an instant feeling of gratitude and hope. I believe that the real secret is sustaining the "rush" you receive after viewing this movie.

THE SECRET website states that producer Rhonda Byrne, in 2004, discovered The Science of Getting Rich by Wallace Wattles. It was given to Rhonda in a moment of crisis by her daughter. This book from 1910 opened her eyes to a new way of living and propelled her on a new-found mission to bring the principles of the Universe to the masses - by creating the film THE SECRET!

The Teachers featured in The Secret - Bob Proctor and Jack Canfield have been studying, applying and teaching this material for decades. They earn millions of dollars every year. But that's not what makes this so powerful... many people earn millions of dollars but they are not able to articulate how they are doing it. Therefore, they are not able to share the cause of their good fortune with others, not even with members of their own family.

This is where Proctor and Canfield have distinguished themselves... they Understand... they Apply... and they are Masters at Transferring the Science of Getting Rich to others. They are two of the most powerful coaches in the world today.

Millions of people are already using the Law of Attraction to make their lives successful. It is no longer a secret, but a household term that is rightfully being given the attention it deserves.

You too can learn how to use the "Laws Of Attraction" to create whatever you want in life - be it money, love or happiness - and generate abundance. It does not matter how young or old you are.

Andrew Conway is an author, a musician, and a classic movie buff. If you love watching movies or just listening to great music, then visit: www.Ultimate-Free-Downloads.com

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