Entrepreneurs
The Adjustment Plan includes a tax increase for citizens
The City Council approved Telde after a contentious vote and a long break unexpectedly, the Adjustment Plan that will allow them to pay suppliers, thanks to Royal Decree-Law 4/2012 of 24 February, approved by the Government of Mariano Rajoy .
The main measures of tax increases that collects the Adjustment Plan of the local corporation, include the rise in property tax from the present 2012, with a gradual increase of 0.1 until the year 2016 (in 2013 will increase by 0, 2) for the property for Urban Nature. Thus, in 5 years could lead to over EUR 7,700,000 additional collection was made in 2011.
Meanwhile, the Real Nature Rustic, also undergo an annual increase of 0.1 to get the 0.9 in 2015. This paid in 4 years, over € 19,000 in addition to the municipal coffers.
The tax on motor vehicles will update current 1.5 to 1.8, as of January 1, 2013. This will mean an income of over 1,200,000 per year. Furthermore, the business tax to be set between 2.7 to 3.8 minimum to maximum, from January 1 next year, the City will collect more than 1.1 million euros, compared to exercise of 2011.
The builders, installers and works are not spared from the tax increase, as will current 2.75 to 4, from January of 2013, contributing to the municipal coffers a total of 116,734 euros per year.
The City of Telde enhance the tax inspection to discover taxable transactions not taxed at a series of guidelines that take you to enter some 500,000 euros a year. Turn, will balance income and expenditure on the collection and processing of municipal solid waste, revising the rates increase by 50% in 2013 and 50% in 2014.
The owners of Fords will also see increased spending, but will not pay for the meters of facade but by the number of parking spaces. For this, the Consistory inspection work carried out to help you enter more than 186,000 euros.
In addition, the Matching local government provides for a review of “all other fees and public prices,” even those who have not been reviewed in the last 10 or 15 years. Thus, revenues increased by 200,000.
Expenses
The Adjustment Plan includes the creation of a commission of duplication to define the powers of the Administration. In addition, carry out a turnaround plan for the management of some services will change from direct to indirect.
Retirees will not be reset unless it is “essential” during the time of application of the Adjustment Plan. We also will review the agreements of the working conditions in force at present to fit the financial position of the Directors and indemnities be regulated in different collective agreements, “to adapt to the latest labor reform process.” Thus, if the dismissal is deemed appropriate, the employee shall be entitled to compensation of 20 days per year worked.
The consultants do not come free of adjustment, since his salary is reduced by 10%, which will save annually to more than 164,000 euros Consistory. Also, be dispensed with outside consultants and contract managers, and city staff perform those jobs that can be carried out by the Administration. This will be a total annual savings of 400,000 euros.
The deadline to submit the Adjustment Plan is Saturday, March 31. The Ministry of Finance and Public Administration will conduct a review of the Plan and has a maximum period of 30 calendar days from receipt thereof, to communicate whether or not it is favorable. If the City receives no response in that space of time, the valuation is considered unfavorable.
Obama asks Congress to raise taxes on millionaires
President Barack Obama urged Congress on Saturday to raise taxes on millionaires, reviving a proposal launched in September and aims to establish a clear contrast between the president and the Republican opposition.
The plan, which must be voted on April 16 in the Senate, with Democratic majority, is unlikely to be approved in Congress. But it symbolizes the efforts of the president and congressional Democrats for being advocates for economic justice.
“I do not envy the success of this nation. We aspire to it, “Obama said in his weekly radio and Internet. “But we also believe that anyone who would do well to return a fair share so that more people have the opportunity to progress, not just a few.”
Obama called the plan “Rule Buffett”, referring to Warren Buffett, the billionaire investor who has complained that the rich as he pays a smaller percentage of their income in federal taxes than middle-class taxpayers. Many wealthy taxpayers pay 15% income tax. Obama has proposed that people who earn at least a million dollars a year pay at least 30% in taxes.
Promoting the Rule Buffett makes the president comes at a time when millions of Americans face the deadline of April 15 to file their tax returns.
It also renews attention to the tax rate of aspiring Republican presidential candidate Mitt Romney, a millionaire who paid 15.4% in federal taxes for 2011 largely by income from investments.
In comparison, the highest rate for taxpayers with high incomes derived from wages, and income is 35%.
In statements on Saturday, the president urged listeners to lobby their legislators to “stop giving tax breaks to people who do not need.”
Obama also renewed his call for an end to tax cuts for taxpayers earning over $ 250,000 annually. Such gaps, implemented during the first term of President George W. Bush, expire at the end of 2012.
Posted in Administration, Entrepreneurs | 
Tags: federal taxes, Obama asks Congress, raise taxes on millionaires, reviving a proposal, tax rate | 
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What we can not forget the time of making the declaration
Additional information on adjustments and deductions, annual accounts 2010, income tax statements for prior periods, statements and payments on account of 2010 personal income tax, VAT. related income tax check tax adjustments, tax optimization, non-deductible expenses, depreciation, tax loss compensation in previous years, Tax credit for reinvestment of extraordinary income, deductions for domestic double taxation (dividends and capital gains) and deductions in the share and its limits.
Additional information on adjustments and deductions
The obligation to submit information prior to the declaration, through an attached form whose submission is electronically through the electronic record of the AEAT, on the following assumptions:
When the statement has been placed in a negative correction to the result of the profit and loss account in the amount not less than 50,000 in the section on “other corrections to the result of the profit and loss account”, and must describe the nature the adjustment made.
When the amount of the deduction generated during the year (whether to apply or be pending), is equal to or greater than € 50,000 in deductions:
For extraordinary income: identifying the assets transferred and the assets in which investment is realized.
For environmental investments: identifying investments.
For research and development and technological innovation: identifying investments and expenditures that give rise to deductibility.
For export activities: identifying investments and expenditures that give rise to deductibility.
Annual Accounts 2010
They have the basic information to be incorporated into the model of corporate income tax. In the model declaration of income tax models are integrated normal accounts, and SMEs abbreviated balance sheet, income statement and statement of changes in equity. Not included, therefore, the state cash flow or memory. In addition, organizations subject to the accounting standards of the Bank of Spain, the insurance companies and investment institutions have specific models and will include information on its financial statements on pages 200 model specific.
In general, if completion of a negative starting balance sheet, profit and loss account and statement of changes in equity, it shall be entered preceded by the mathematical sign minus (-).
Statements of income tax of previous years
Give us clues about differences between taxable income and accounting profit that can reverse in 2010, tax losses that can offset, balance deductions applied in the past to draw from now, etc..
Returns and payments on account of 2010 personal income tax, VAT. related income tax
Magnitudes to square the statement contained in the Company with: IVA (annual summary), 190 retention, 180 lease of real estate withholding, 193 (annual summary of deductions from capital, etc.).
Instalments of 2010
Certificates of withholding tax on real estate leases on investment income earned from entities under the attribution of income, if the company is participating or commoner or donations or gifts made in the exercise and gifts or donations.
Check fiscal adjustments
We must analyze and review accounting and possible differences with the fiscal criteria. Keep in mind the fiscal adjustments to the implementation of PGC 2007.
Tax optimization
The points of impact for proper tax optimization lies in the determination of the tax base and the tax credits.
Expenses not deductible
You have to identify the various items of expenditure accounting that are not tax deductible (fines, criminal or administrative penalties, donations or donations). In your case you must make a positive adjustment to book income by the amount of expenditure accounted for.
Depreciation
We review the methods and depreciation rates used in accounting to see if they are supported by the tax law.
Offset of tax losses from previous years
Can practice in the next 15 years. This offset the society can practice at their convenience, as an instrument of tax optimization.
Tax credit for reinvestment of extraordinary profits
Check if we have integrated capital gains in 2010 or in previous years, likely to benefit from this deduction provided reinvestment. The tax credit rate and the applicable rules are those of the year in which we integrated the rent.
Remember that there is a requirement to submit pre-filing information through a form, where the amount of the deduction generated during the year (whether to apply or be pending), is equal to or greater than 50,000 euros, identifying transferred assets and property in which the investment is realized.
Deductions for domestic double taxation (dividends and capital gains)
Check if you have pending application and deductions from previous years. This same applies to the deduction for international double taxation.
Tax credits and limits
Deductions are a good tax optimization tool that companies must make proper use, respecting the legal limits. Note deductions for investments and the percentages for the year 2010 that have been vary from previous years.
Remember that there is a requirement to submit pre-filing information through a form, where the amount of the deduction generated during the year (whether to apply or be pending), is equal to or greater than 50,000 euros in the following deductions:
For environmental investments: identifying investments;
For research and development and technological innovation: identifying investments and expenditures that give rise to deductibility;
For export activities: identifying investments and expenditures that give rise to deductibility.
Smaller companies: remember that for these companies (turnover below the previous year to 8 million) can take a number of incentives:
Accelerated depreciation with job creation: possibility of new elements freely amortized plant and equipment and investment property if the average number increases. Accelerated depreciation amounts to a maximum of 120,000 euros per man / year increase in staff.
Accelerated depreciation for investment of limited value: it can be applied to new property, plant and made available to the body in the exercise, having a maximum value of 601.01 euros each, with a maximum repayment of 12,020 global free , 24 euros.
Accelerated depreciation of new items of tangible assets and real estate investments: can multiply by 2 the maximum coefficient of linear depreciation tax tables.
Fixed amount of the debit balances not individually equipped, 1%.
Accelerated depreciation (calculated by multiplying by 3 the maximum coefficient of tables) applicable to tangible fixed assets and investment property in which the reinvestment is materialized for the deduction for reinvestment of extraordinary profits.
Deduction for promotion of information technology and communication, with rate of 3% in 2010.
Posted in Entrepreneurs, investment | Tags: personal income tax, related income tax, tax optimization, tax statements, the declaration, VAT | No Comments »
Reforming a tax crisis, Francisco de la Torre Diaz Expansion
Always difficult to make an assessment of urgency for legal reform, and this is the corporate tax, which is very important, not the exception. Must start with the fact that taxes are set to raise, especially in times of budget crisis. Consequently, a tax levy has gone from more than 44,000 million euros to 16,000 million, losing more than 60%, a tax is clearly in crisis and needs a thorough reform. Although not everything has reformed the tax failed, they have addressed some critical issues to ensure the collection and operation with minimal distortion.
First, it has set a limit to the deduction of interest expenses. This measure was implemented in major European countries and was essential in Spain. A situation where you have many foreign income exemption, dividends and capital gains earned abroad, and absolute liberty to deduct the expense necessary to obtain this income was literally unbearable. If, in addition, Spain was a country with a corporate tax rate comparatively high, the multinational groups concentrated their borrowing in Spain, where it was easier, because there were no limits, and cost, since the tax was higher. This had devastating effects on the collection, but also in the indebtedness of companies, one of the main problems of the Spanish economy.
Benefits abroad
This limitation means that in future no more profitable to invest abroad in Spain for purely fiscal reasons. Previously, foreign investment was better treated than the investment tax in Spain. This was because foreign income were exempt (not numbered), while other financial expenses deducted (subtracted) from the tax base. In domestic transactions, all added and subtracted, thus paying more taxes. The defective tax legislation entailed creating jobs abroad at the expense of its destruction in Spain. We could not afford.
Another reform that we had some time calling for was the elimination of accelerated depreciation without maintaining employment. This measure in some large companies, which by its business model had to make ongoing investments, which were caused continually deferring the tax, ie it should pay no never. Moreover, only large companies could finance investments, as they were the only ones that had access to financial markets. Consequently, SMEs, which are the main creators of jobs, competing on unequal terms. If we join the withdrawal of the job maintenance requirement, which led to EREs in large companies with profits, we were also faced with a tax measure totally contrary to the creation and maintenance of employment, at the same time extremely burdensome to the treasury public.
Of other reform measures, which are purely tax collection, you can not make a very positive assessment. Take the amortization of goodwill of a merger, or acquisition of a non-resident owned (the famous Article 12.5 of the Tax Act) to one hundred years is at least surprising. This should be temporary and recover a reasonable time for repayment, when the worst budget crisis has passed. We are not talking to correct a structural defect of the tax, but to collect, although this limit the investments that companies have to make. Something similar applies to the establishment of a minimum installment payment. If the company ultimately did not have to pay both corporation tax, has granted an interest free loan to the Treasury for a period that may exceed one year. Such measures could be criticized in the past, but very hard on a budgetary review. What you need to ask is to restore a more balanced when the worst of the crisis has passed.
In general, the correct tax reform, in my opinion, the most serious structural defects, which is significant and positive. This reform also has purely tax collection measures, which will hopefully be up within a period not too long. So that would address the comprehensive reform of the tax that seek not only collection but also equity and competitiveness of enterprises and economic growth.
Posted in Entrepreneurs, investment | Tags: a corporate tax rate, a tax levy, budget crisis, Reforming a tax crisis, the corporate tax | No Comments »
Farewell to the two largest ‘holes’ from corporation tax
The Government announced the abolition of the two largest ‘holes’ Corporation Tax revenue collection: the unlimited deductibility interest charges and accelerated depreciation for all types of companies without maintaining employment. These two advantages were responsible, according to experts, that the actual tax rate paid by Spanish companies is well below the official rate of 30% of the tax.
As explained in The Confidential January, accelerated depreciation on fixed assets is primarily responsible for the payments of the “big tax groups” fall by 74.2%. This measure was introduced by Elena Salgado at the end of 2010 (entered into force in 2011) and eliminated the requirement to maintain or create jobs to qualify for this tax benefit.
Now, this freedom is removed for new operations and to introduce a transitional regime for the former, although with limitations Cristobal Montoro Minister did not specify. It only remains for SMEs, and if re-linked to the expansion of staff.
The other hole is eliminated, as anticipated The Confidential, is the limitation of the deduction of financing costs to 30% of gross operating profit (EBITDA) with the exception of the first million euros. Until now, companies could be deducted without limit interest payments, which gave rise to many abuses. This measure will also have significant negative consequences for large companies and highly leveraged businesses, such as investments in renewable energy.
A report found that Natra BBVA, Abengoa, Prisa, ACS, OHL listed companies will be most affected by the deletion of this measure. In reaching this conclusion, the bank estimates the financial cost overruns on the 30% of EBITDA of each company. Having made that excess subtracted calculates the extra taxes you’ll pay this expense limitation. Multiply these new taxes for the average market PER (10 times in most cases) and compares the market value of the new taxes the capitalization. The highest percentage is for the companies mentioned.
Impact of billions
According to the inspector of finance, “plug these two holes will not only bring several billion euros in revenue, but also very positive economic effects re-locate investment and employment in Spain residenciaban previously in other territories by the poor drafting of the tax rules. “
It also reduces from 5% to 1% annual limit deductible goodwill to match all the financial goodwill (the bargain they had Spanish companies to undertake overseas purchases, which was banned by Brussels from 2008). Another step is determining a minimum installment payment for companies with profits exceeding 20 million, which is 8% or 4% depending on the circumstances of each company. Further, there is reduced current limit for all deductions from 35% to 25%, including reinvestment of profits. The latter two measures are in effect only in 2012 and 2013.
Posted in Entrepreneurs | Tags: big tax groups, charges and accelerated, corporation tax, Corporation Tax revenue, tax rate | No Comments »
Their auction business & taxes
Taxation is a problem running an auction business. But is there a gray line when it is declared?
It’s really because if you do a huge amount of it, a small amount is insignificant.
Some people want to have a small business for punishment, you may want to consider taking the next level and be able to write some of your expenses and your team, office space, supplies, etc. ..
Each state and each province has its own amount of sales that can be done without declaring the tax burden &. Check with your state to see how much you have to do before taking taxes.
The Government of BC (where I live) gives a grant of $ 30,000 before having to collect taxes, it is for someone who legally owns a business.
There are advantages worth having a business license, report your income and can make cancellations. Having said that, legally have to file a tax return if you are benefiting from it.
Are held in too much product?
Everyone wants to win money, but after a while when you get too much product created, you can start losing money. Why would I do that?
What happens is you get into a mindset about the value items worth considering that our lines, we can get to them. Therefore, when purchasing items is important to note that making money to buy, no – when you sell.
But we get into the area where you feel you should get a certain price for something. And that’s what we have to shake …. immediately.
You have to go see their products and if something is a waste of money and must blow. Product on shelves is not money in your pocket …. is out of pocket.
When we relate this to your business on eBay, so do what you have in your eBay store. Keep it fresh and alive. They have special offers only for those who are buying an auction and Item Shop.
Doing something you want and give them a deal. Product blowout has had for a long time. This will give you immediate cash and you get product that can really do well.
So, outside the frame of mind to be “X” amount of certain products, if you are not pulling in and then “X” them and move on to new hottest products!
Posted in Business Tips, Entrepreneurs, Tax refund, Taxes | Tags: business, eBay, Small business, Taxes, Their auction business & taxes | No Comments »
Ways to Get Extra Money
extra money
everybody always want some extra income either little or arto, but what we want, so there are many ways to do it but do not know which is best suited to generate this income.
So I decided to make a short list of some ways to earn extra money and do not grow these ideas until they become fully profitable business.
• One of the ideas may be creating a website, as we have seen is a lot of business with midterm and long term, and little by little we can generate very good income, so why not try.
• Another way is to save some money on unnecessary expenses such as telephone and cable television, as all this can be done through internet; you know how much you can save without paying these two accounts.
• You can sell everything you have at home and do not use, these objects you can pick a good sum of money.
• If you have a hobby and you’re pretty good at this, you can find a way to make money with this either by creating a blog, or teaching classes, it can become very profitable.
• Something you can do is offer your services as a freelancer, whether classified or through the internet job boards.
Posted in Business Tips, Entrepreneurs, Internet Business, Online Business | Tags: Extra Money, make money, profitable business | No Comments »
5 Internet Business Ideas
Many people today are attracted to business in the network or Internet business.
And with good reason because the site offers opportunities are virtually unlimited and have enabled the creation of huge corporations in the past 20 years and never been seen before.
And it is a fact that new ideas in the network are very well paid and if the way stick with a good marketing strategy then you could be the next millionaire to enjoy the magic of online business.
Today I share at least 8 business ideas you can develop on the Internet and I’m sure they could become your main source of income (as in my personal case).
1. Web page design. The entire world today: business, state institutions and organizations in general want to have Internet presence. You can devote to assembling and maintaining web sites, which may represent an important income if you do it professionally. Also, if graphic design is your passion, you can exploit it fully from this line of business.
2. Purchase, sale and resale of domains. Domain names are the names of the websites which you can buy for a few dollars (us $ 20 on average) a provider of the hundreds that exist. The business consists of buying domains interesting, creative and innovative than anyone else on the web could want and would be willing to buy at a higher value, say $ 100, $ 500 or maybe $ 2000. Did you know that there are domains that have sold for exorbitant amounts? Well, you can document yourself about it and begin to consider this your next business website.
3. Create a blog and monetízalo. Blogs are one of the major media today whose impact is increasingly growing. If you like writing and drawing skills, you might consider creating a blog that once positioned can monetize it by selling advertising space or similar type Adsense contextual advertising.
4. Selling items on Ebay or Libre.com Market: There are thousands of people who have built lucrative businesses around these web auction. The basic idea can be exploited from two sides. Whether you get items at a good price you can sell on Ebay online auction rate and earn a good $ $ or purchase items in auction bids at auctions and sell them in your neighborhood and getting a good profit. (This last option is the most recommended).
5. Positioning and SEO consultant. An interesting business idea but requires a higher level of expertise is consulting for companies and organizations wishing to more effectively position their sites. This series of techniques is called SEO (Serch Engine Optimization) and work as a consultancy that analyzes a website and offer the contractor a proposal for actions to optimize and improve their positioning gain an advantage in terms of daily visits. Still others are devoted exclusively to this from their own websites (fully online).
Posted in Business Tips, Entrepreneurs, Internet Business, Online Business | Tags: Business Ideas, Entrepreneurs, Internet Business, Online Money | No Comments »