Posts Tagged ‘Expats’
Two Networking Follow Up Strategies
Follow Up on a One-On-One Meeting
In a previous post I wrote about 2 Steps to Make Networking Work For You. What is the strategy after a one-on-one meeting with a potential contributor to your network? Well depending on the first meeting you may follow up with the person to offer your services or product or that of someone else. So you continue to think about what the person told you and when you have an idea that may help them you contact them to let them know. It may be too that you thought of someone that may benefit from their or one of their contact’s product or service and you want to connect them.
Connecting With a Contact’s Contacts
Finally, you may be interested in meeting one of your contact’s contacts. This is where networking gets very interesting and dynamic. When you find they know someone that is very good at something that interests you or others that you know then you will likely want to get to know that person and start working together. When you do this kind of follow-up and start branching out then your network really grows and your life becomes much more interesting. As your network grows you are more enabled to help others find what they need/are interested in. Another result is a growing network that has knowledge of you and what you have to offer. As I mentioned in the previous post, this growth has the affect of causing your world to get smaller as you get closer to many valuable and interesting people.
This kind of follow-up takes two forms. One is having a contact of a contact call you to meet and talk. The other is when a contact tells you: hey I would like to meet that guy that you know that is “setting the world on fire.” I have in my calendar an event to setup a meeting between a contact and one of my clients. My friend and contact wants to meet my client not because he thinks my client may be a fit for his service but because he feels that it is likely my client knows people that will benefit from his service. Both my friend/contact and my client get what networking is about and in fact have taught me quite a bit about being successful. That meeting will prove to be very dynamic and interesting and so naturally I want to be there for the meeting.
So if you want to “set the world on fire” or want to continue to do so and would like to tap into my network then please contact me. I would love to network with you. By the way, if your CPA is not connecting you with people that “set the world on fire” perhaps you want a new CPA. See my contact information below and use it. Also, don’t keep me a secret. Let others know about me and where to find me.
Jeff Haywood, CPA
CPA Tax Superhero
972-439-1955
jeff.jhtaxes@gmail.com
This article was written by Jeff Haywood, CPA.
Jeff is a licensed CPA in Texas
He has prepared income tax returns for the public for over 10 years.
He also has an MBA in Finance from Loyola University in Chicago and he has 24 years experience in Corporate Finance and Business Analysis.
I prepare the following types of tax returns:
Personal
Business
Estate/Gift
Trusts
Federal and State Returns
I especially value discussions about you, your business, your dreams and goals.
Click Here to Follow Jeff Haywood, CPA on Twitter
Also, Click Here to Follow My Twitter Account: Taxesforxpats
In addition here are links to a few of my articles about income taxes for expatriates:
Income Tax Returns for Expatriates
US Income Tax Help for Expatriates
Foreign Earned Income Exclusion
Are You Required to Report Foreign Bank and Financial Accounts?
Click Here to Follow My Twitter Account: Taxesforxpats
For a full list of prior posts see the CPA Tax Blog.
Standard Disclaimer:
As always keep in mind that the content provided on this site is general in nature and may or may not apply to your particular case. It is best to check with a tax professional about your circumstances and what is best for you personally. Also, IRS regulations and tax laws are constantly changing and the information on this site is not constantly updated. Again please check with me about your particular circumstances and what will be best in your situation at the given time and law.
Comments:
If you have a comment to share about this post or for me, please email me at jeff.jhtaxes@gmail.com.
What is Your Definition of Success???
Is success defined by money? It is just paper and metal. Right. The scriptures say money is for a protection and it is needed but apparently it does not bring happiness. Just look at the lives of the richest most successful people? Broken marriages, relationships, rehab for addictions and sometimes attempted suicide or overdoses. For many money and wealth is the measurement that defines success. How about you? What defines success for you?
I still remember my uncle coming home from work around 1 PM and going to the beach, out on his motorcycle, or to take some pictures (his true passion). What was up with that? My uncle worked only a few days a week and even then not full days. He pointed out to me that he worked himself into a position that he could make his own schedule and work as much or as little as he wanted. So he had found a niche that worked for him and his lifestyle and I began to question the accepted definitions of success.
So what are you striving for. I know it is more than pieces of paper and metal. From time to time we do well to ask ourselves why I am doing this and what is it giving me and others. Evaluate, plan, execute, reevaluate, adjust and move toward real success.
Do you want a CPA that does not accept conventional thinking? Then contact me using the information below.
Jeff Haywood, CPA
CPA Tax Superhero
972-439-1955
jeff.jhtaxes@gmail.com
This article was written by Jeff Haywood, CPA.
Jeff is a licensed CPA in Texas
He has prepared income tax returns for the public for over 10 years.
He also has an MBA in Finance from Loyola University in Chicago and he has 24 years experience in Corporate Finance and Business Analysis.
I prepare the following types of tax returns:
Personal
Business
Estate/Gift
Trusts
Federal and State Returns
I especially value discussions about you, your business, your dreams and goals.
Click Here to Follow Jeff Haywood, CPA on Twitter
Also, Click Here to Follow My Twitter Account: Taxesforxpats
In addition here are links to a few of my articles about income taxes for expatriates:
Income Tax Returns for Expatriates
US Income Tax Help for Expatriates
Foreign Earned Income Exclusion
Are You Required to Report Foreign Bank and Financial Accounts?
Click Here to Follow My Twitter Account: Taxesforxpats
For a full list of prior posts see the CPA Tax Blog.
Standard Disclaimer:
As always keep in mind that the content provided on this site is general in nature and may or may not apply to your particular case. It is best to check with a tax professional about your circumstances and what is best for you personally. Also, IRS regulations and tax laws are constantly changing and the information on this site is not constantly updated. Again please check with me about your particular circumstances and what will be best in your situation at the given time and law.
Comments:
If you have a comment to share about this post or for me, please email me at jeff.jhtaxes@gmail.com.
Year End Tax Moves: Take Action Now
Year End Tax Moves
Mr. CPA, What can I do to help with my tax situation for 2011?
Before the end of the year you want to look at your tax situation and make decisions and take actions to help with your taxes and your cash-flow. Hopefully your business is doing well in 2011 and you want to minimize your income taxes for the year. So first of all take a look at your income and expenses to get an idea how much profit you will have for the year. You may to add into your calculation business miles and home office expenses. If you have profits that you want to reduce to so as not to pay taxes on them for 2011 there are a few actions you can consider taking.
First, you can control when you receive and report income. So if you are working on a job or finishing a job for a client you can wait to bill them in January. If you are a cash basis taxpayer and you have already billed a client and you want that income in 2012 you can ask the client to wait to pay you until after the end of the year. That is a call they will love to receive.
Second, you can pay bills before the end of the year. As a cash basis taxpayer that wants to reduce 2011 income pay all outstanding bills before the end of the year. You may even want to prepay expenses like rent. For your personal return you can make sure you have paid your property taxes on your home. In some cases, especially where you have no or a very small mortgage balance and hence very little interest expense to deduct, then you may want to plan your property tax payments so every other year you pay two years of real estate taxes so as to be able to itemize your deductions on your tax return. How do you do this? It is simple. As an example you would pay your 2010 taxes on January 1, 2011 and then pay your 2011 taxes before December 31, 2011. By doing this you take two years of real estate taxes in one year. You can do this because the real estate taxes are deductible on your income tax return in the year you make the payment.
Now you also want to consider purchasing equipment for your business before the end of the year. If you need equipment you may be able deduct the full purchase price of the equipment this year if you purchase the equipment before the end of the year. Know that equipment you purchase using a credit card is potentially deductible when you charge it even though you do not payoff the credit card before the end of the year. So you may be able to by equipment in December that you can deduct on your income tax return for this year and with some retail credit cards not pay for it for six months or so without paying any interest. Keep in mind that your interest on your business credit card is also deductible. Finally, know that there are limits as to how much you can deduct in a year for equipment purchases. Check with your CPA or call me to discuss your situation.
Many taxpayers are not aware of these strategies. Your CPA should bring these to your attention and you should be having a year-end discussion every year. These discussions help you to get an idea or an expectation of what your taxes will be when you file your tax returns. A big tax bill is difficult enough but it is worse when you are not expecting it. So let’s have a conversation today about your situation. Feel free to use my contact information below to set an appointment for that discussion.
Know too that you may be able to reduce your taxable income by making a contribution to your retirement account. If you use an IRA you have until April 15th to make that contribution and use it to reduce your taxable income this year.
Please do not keep me as a secret. Please tell others about me and this site. I keep my practice at a manageable size so all my clients get the attention they need for their business and their personal income tax situations. I specialize in helping business owners and investors and also expatriates living out of the country. I also do individual tax returns. Please contact me today using the contact information below to make an appointment to discuss your situation.
Jeff Haywood, CPA
972-439-1955
jeff.jhtaxes@gmail.com
I prepare the following types of tax returns:
Personal
Business
Estates
Trusts
Federal and State Returns
I especially enjoy discussions about you, your business, your dreams and goals.
Take a look at these related posts:
Let’s Accomplish Great Things Together
How to Profit From Your CPA
A Most Valuable Resource For Entrepreneurs
Forming a New Business – Please Consult With Your CPA First
Click Here to Follow Jeff Haywood, CPA on Twitter
Also, Click Here to Follow My Twitter Account: Taxesforxpats
In addition here are links to a few of my articles about income taxes for expatriates:
Income Tax Returns for Expatriates
US Income Tax Help for Expatriates
Foreign Earned Income Exclusion
Are You Required to Report Foreign Bank and Financial Accounts?
Click Here to Follow My Twitter Account: Taxesforxpats
For recent US income tax content see the following links:
Sometimes Money Costs Too Much
Let’s Accomplish Great Things Together
Can I Use My Loss To Get Money Back From Prior Year Taxes Paid?
IRS Top Ten: Tax Tips for Individuals Who Are Moving This Summer
IRS Top Ten: Tax Tips for Individuals Selling Their Home
IRS Tax Tips: Do You Owe the IRS Money? What You Need to Know.
IRS Tax Tips: Do You Owe the IRS Money? What You Need to Know.
Does the IRS Have Money Waiting For You
Ideas: How Young People Can Become Entrepreneurs and Find a Home
IRS Top Ten: Facts about Amending Your Tax Return
Are You Ready To Get Your First Apartment/Home?
How to Succeed in Business: Pricing
Credit for Education Expenses: American Opportunity Credit – Extended Through 2012
How to Prepare Before a Disaster Strikes
IRS: Summer Day Camp Expenses May Qualify for a Tax Credit
IRS Tax Tips for Students Starting a Summer Job
IRS Tax Tips for Deducting Charitable Contributions
Tax Planning Tips
Tax Tips – Tip Income
Stratospheric Success
Are You Ready to Purchase a Home? Factors to Consider.
Foreign Earned Income Exclusion
A Most Valuable Resource for Entrepreneurs
How to Profit From Your CPA
Begin With The End In Mind
If the band you are in starts playing different tunes
Where Is It? Tax Refund
Deadline for 2010 Personal Tax Returns Moved
Now is the time to file those late tax returns for previous years
IRS: 8 Things to Know if You Receive an IRS Notice
IRS: Nine Fact on Filing an Amended Return
IRS: Eight Facts on Penalties
IRS Top Ten: Making Federal Tax Payments
Forming a New Business – Please Consult With Your CPA First
Questions After I Have Filed My Return
For a full list of prior posts see the CPA Tax Blog.
Standard Disclaimer:
As always keep in mind that the content provided on this site is general in nature and may or may not apply to your particular case. It is best to check with a tax professional about your circumstances and what is best for you personally. Also, IRS regulations and tax laws are constantly changing and the information on this site is not constantly updated. Again please check with me about your particular circumstances and what will be best in your situation at the given time and law.
Comments:
If you have a comment to share about this post or for me, please email me at jeff.jhtaxes@gmail.com.
This article was written by Jeff Haywood, CPA.
Jeff is a licensed CPA in both Texas and Illinois.
He has prepared income tax returns for the public for over 10 years.
He also has an MBA in Finance from Loyola University in Chicago and he has 24 years experience in Corporate Finance and Business Analysis.
Foreign Earned Income Exclusion
Foreign Earned Income Exclusion
Mr. CPA, How does the exclusion of foreign earned income work? Per the IRS “qualifying U.S. citizens and resident aliens who live and work abroad may be able to exclude from their income all or part of their foreign salary or wages, or amounts received as compensation for their personal services. In addition, they may also qualify to exclude or deduct certain foreign housing costs.“
Below is a post from the IRS website with more information on this subject:
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This can get very complicated. I can help you with any and all of this. Feel free to contact me using my contact information below.
Click Here to Follow Jeff Haywood, CPA on Twitter
Jeff Haywood, CPA
972-439-1955
jeff.jhtaxes@gmail.com
I prepare the following types of tax returns:
Personal
Business
Estates
Trusts
Federal and State Returns
I especially enjoy discussions about you, your business, your dreams and goals.
For recent US income tax content see the following links:
June 15th Filing Deadline for Residents Living Abroad
A Most Valuable Resource for Entrepreneurs
How to Profit From Your CPA
Begin With The End In Mind
If the band you are in starts playing different tunes
Where Is It? Tax Refund
Deadline for 2010 Personal Tax Returns Moved
Now is the time to file those late tax returns for previous years
IRS: 8 Things to Know if You Receive an IRS Notice
IRS: Nine Fact on Filing an Amended Return
IRS: Eight Facts on Penalties
IRS Top Ten: Making Federal Tax Payments
Forming a New Business – Please Consult With Your CPA First
Questions After I Have Filed My Return
For a full list of prior posts see the CPA Tax Blog.
Standard Disclaimer:
As always keep in mind that the content provided on this site is general in nature and may or may not apply to your particular case. It is best to check with a tax professional about your circumstances and what is best for you personally. Also, IRS regulations and tax laws are constantly changing and the information on this site is not constantly updated. Again please check with me about your particular circumstances and what will be best in your situation at the given time and law.
Comments:
I do not manage a comments section on this blog. If you have a comment for me, please email me at jeff.jhtaxes@gmail.com.
This article was written by Jeff Haywood, CPA.
Jeff is a licensed CPA in both Texas and Illinois.
He has prepared income tax returns for the public for over 10 years.
He also has an MBA in Finance from Loyola University in Chicago and he has 24 years experience in Corporate Finance and Business Analysis.
June 15th Filing Deadline for Residents Living Abroad
US Residents Living Abroad
For US residents living abroad the IRS gives you until June 15th, an automatic two month extension, to file your personal tax returns. If you are not ready yet to file by June 15th you can also file an extension to file giving you until October 15th(17th for tax year 2010), just like residents living in the US that filed an extension in April.
For US residents living abroad the IRS provided the following information on its website:
June 15 Tax Deadline Nears for Americans Abroad; Don’t Forget to Report Foreign Accounts |
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So you will want to file by June 15 if you are a US Resident Living Abroad. Additionally, you will want to check to see if you qualify for the foreign earned income exclusion. This is complicated so call me for assistance using the contact information below. Also, remember you are required to report income from all sources worldwide. Finally, make sure you comply with the reporting requirements regarding your foreign financial accounts. I can help you with any and all of this. Feel free to contact me using my contact information below.
Jeff Haywood, CPA
972-439-1955
jeff.jhtaxes@gmail.com
I prepare the following types of tax returns:
Personal
Business
Estates
Trusts
Federal and State Returns
I especially enjoy discussions about you, your business, your dreams and goals.
Click Here to Follow Jeff Haywood, CPA on Twitter
For recent US income tax content see the following links:
A Most Valuable Resource for Entrepreneurs
How to Profit From Your CPA
Begin With The End In Mind
If the band you are in starts playing different tunes
Where Is It? Tax Refund
Deadline for 2010 Personal Tax Returns Moved
Now is the time to file those late tax returns for previous years
IRS: 8 Things to Know if You Receive an IRS Notice
IRS: Nine Fact on Filing an Amended Return
IRS: Eight Facts on Penalties
IRS Top Ten: Making Federal Tax Payments
Forming a New Business – Please Consult With Your CPA First
Questions After I Have Filed My Return
For a full list of prior posts see the CPA Tax Blog.
Standard Disclaimer:
As always keep in mind that the content provided on this site is general in nature and may or may not apply to your particular case. It is best to check with a tax professional about your circumstances and what is best for you personally. Also, IRS regulations and tax laws are constantly changing and the information on this site is not constantly updated. Again please check with me about your particular circumstances and what will be best in your situation at the given time and law.
Comments:
I do not manage a comments section on this blog. If you have a comment for me, please email me at jeff.jhtaxes@gmail.com.
This article was written by Jeff Haywood, CPA.
Jeff is a licensed CPA in both Texas and Illinois.
He has prepared income tax returns for the public for over 10 years.
He also has an MBA in Finance from Loyola University in Chicago and he has 24 years experience in Corporate Finance and Business Analysis.
US Income Tax Help for Expatriates
Filing and IRS Requirements and for US Citizens and Alien Residents Living Abroad:
Are you an Expat? I have been one for more than a year now and serving my income tax clients remotely. Would be expats have questions about income taxes before they move. Below is a post from the IRS providing some useful information.
Tax Help – What Do You Need to do? See this from the IRS for help to Americans Living Abroad.
Reaching Out to Americans Abroad |
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Notice also this information from Publication 4732 regarding when you must file your tax return by and when your taxes are due:
“Filing Deadlines – U.S. income tax returns are due on April 15th. If you reside overseas, however, you are given an automatic two month extension to file. Any tax due though, must be paid by April 15th to avoid paying interest and, possibly, penalties. This also applies if you are in military service on duty outside the United States and Puerto Rico, except if you are serving in a combat zone.
Note: Payments are not considered received until the date of actual receipt by the IRS, not the postmark date.”
(In 2011 the deadline has been moved to April 18th.)
Virtual Service:
I have a virtual service available so you can send me your tax information no matter where you are in the world as long as you have access to the internet or to a fax machine. Even if you can mail your information to the US I can help you prepare your tax returns. For more information about how you can get your tax information to me see this post: Client Portal
To have an experienced CPA and fellow Expat help you prepare your tax returns and help you reach your goals contact me at the phone number below.
Jeff Haywood, CPA
972-439-1955
jeff.jhtaxes@gmail.com
For more US income tax content see the following links:
10 Things to Know About the Child and Dependent Care Credit
10 Important Facts About Capital Gains and Loses
IRS: Beware of Tax Scams
IRS Top Ten: Mortgage Debt Forgiveness
IRS Top Ten: IRA Contributions
US Income Tax Help for Expatriates
4 Credits That Can Pay You at Tax Time
What Business Deductions Can I Take as an Employee? IRS Tax Tips.
Was This Year a Bad Year? We may be able to get you a refund of your taxes paid in prior years.
6 IRS Tax Tips for Self-Employed Individuals
Important IRS Tax Tips: Health Insurance Tax Breaks for the Self-Employed
6 Things the IRS Wants You to Know About the Home Office Deduction
Is Your Child’s Investment Income Supposed to be Taxed at Your Tax Rate?
IRS Notice – Don’t Panic – Call Me
Who Can I Claim As A Dependent?
Which Filing Status Should I Use?
Do I Have To File A Tax Return For 2010?
6 Things You Should Know About Business Expenses – What You Can Deduct
Top Four Reasons Clients Hire Me To Prepare Their Tax Returns – Individual and Business
Instant Convenient Access To Your Tax Returns and Documents
How To Avoid the Social Security Penalty and Does Warren Buffett Get Penalized??
5000 Birds Fall From the Sky – Casualty Losses
Are You Required to Report Foreign Banks and Financial Accounts?
2010: “A Last Minute Checklist”
Energy Credits
ROTH IRAs
Traditional IRAs
Year-End Tax Planning Tips
Education Credits-American Opportunity Credit
ROTH IRA Conversion
As always keep in mind that the content provide on this site is general in nature and may or may not apply to your particular case. It is best to check with a tax professional about your circumstances and what is best for you personally. Also, IRS regulations and tax laws are constantly changing and the information on this site is not constantly updated. Again please check with me about your particular circumstances and what will be best in your situation at the given time and law.
This article was written by Jeff Haywood, CPA.
Jeff is a licensed CPA in both Texas and Illinois.
He has prepared income tax returns for the public for over 10 years.
He also has an MBA in Finance from Loyola University in Chicago and he has 24 years experience in Corporate Finance and Business Analysis.