个人理财英文版第三章.ppt

Evaluating Tax Services Factors to consider: Training and experience of the tax professional? Fee for preparing taxes and how determined? Questionable deductions suggested? If return is audited will the preparer represent the client? Is tax preparation the main business activity or is it a front for other financial products? 3-* Tax Service Warnings Ultimately you are responsible for providing complete and accurate information If your professional tax preparer makes a mistake, you are still responsible for paying the correct amount, plus any interest and penalties. Hiring a tax preparer does not guarantee that you will pay the correct amount Beware of tax preparers that offer refunds in advance “Refund anticipation loans” can charge interest rates in excess of 300% 3-* What if Your Return is Audited? ≈ 0.6% of all returns are audited If you claim large or unusual deductions you are more likely to be audited. Three types of audits: Correspondence audit for minor questions Office audit takes place at an IRS office Field audit is the most complex, with an IRS agent visiting you at your home, your business or your accountant’s office 3-* What if Your Return is Audited? Audit Rights Request time to prepare Clarification of items being questioned Right to appeal audit results When Audited: Decide whether to bring you tax preparer, accountant or lawyer Be on time for you’re appointment; bring only relevant documents Present evidence in a logical, calm and confident manner; maintain a positive attitude Make sure your information is consistent with tax law Keep your answers aimed at the auditor’s questions 3-* Objective 4Select Appropriate Tax Strategies Tax Planning Strategies Practice tax avoidance Legitimate methods to reduce your tax obligation to your fair share but no more Financial decisions related to purchasing, investing, and retirement planning are the most heavily affected by tax laws Tax Evasion Illegally not paying all the taxes you owe, such as not repo