Tax Specialist Advice

When the death of an individual results in property or belongings being passed on to another individual or entity, estate taxes can be levied upon those assets. Because the laws dealing with estate taxes change so frequently, the amount of taxes levied can vary greatly depending on the year of death. For example, some years [...]

The IRS taxes the incomes of those individuals whose earnings meet or exceed the specified minimum requirement. Normally, taxes are automatically withheld from an employee's check by an employer. However, each year in April citizens must still file an individual income tax return. Depending on the total amount of earnings for the year and filing [...]

Stay At The Hilton But Eat At Mc Donald’s
That’s the best way to get the most out of your tax deductions when you are traveling on business. The fact is that your travel accommodations, such as your hotel room, are 100 percent tax deductible when they are fully business related. Therefore, take full [...]

Using Your Child In Your Business? Write It Off
There are several ways to benefit from employing your child in your business. First, in order for this to happen, you must be a sole proprietor or be in a partnership where you and your spouse are the only partners. Then, if you hire [...]

Deduct Your Retirement Contributions Yet?
Many people think they have to work for a company instead of starting their own business because they do not think they can have their own retirement plan or get the benefits from it that other employers get. The fact is, you can! In fact, if you are self [...]

When one is chosen as an executor of a will, dealing with the assets of an individual who has passed can mean dealing with estate or inheritance taxes. While the two are commonly confused, estate taxes have to do with the property or estate itself whereas inheritance taxes affect the estate's beneficiaries. Another difference is [...]

W. Marc Gilfillan
W. Marc Gilfillan, CPA, NC, individual and business CPA and Tax expert, shares about the history of taxes…
Now that we are getting away from the Greeks, we now are at the Romans. Scholars often refer to Roman taxation as “more or less legal robbery” and Roman tax men as “a bunch of robbers.” [...]

Income taxes are the obligatory financial contribution levied against the annual earnings of both individuals and companies. Every year, income taxes are collected by the federal government via the filing of income tax returns. Every individual and company is responsible for truthfully and accurately reporting all of their income to the government in order for [...]

W. Marc Gilfillan
W. Marc Gilfillan, CPA, NC, individual and business CPA and Tax expert, shares about the history of taxes…
The island of Rhodes: a linking to Rome and Greece. All shipping from the east halted for supplies or to switch cargo at Rhodes. The harbor at Rhodes, like every other harbor, had a tax on [...]

W. Marc Gilfillan
W. Marc Gilfillan, CPA, NC, individual and business CPA and Tax expert, shares about the history of taxes…
The Rosetta Stone, unearthed by Napoleon, was perhaps the absolute most important Egyptian archaeological discovery in history. The Stone had the same text in 3 different languages: Egyptian hieroglyphs, demotic (Egyptian script) and Greek. Using the [...]