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Statutory

Latvia Immigration Visa Processing from India

Latvia is considered for immigration because it is one of European Union’s fastest growing economies. This nation located in the north of Europe is a major financial, cultural and commercial centre with the region’s largest international airport. The country is a member of premium international organizations like World Trade Organization, International Monitory Fund, European Union, United Nations, Nordic Investment Bank etc. It is also an important seaport. All the above factors make Latvia a very commercially viable centre.

The culture of the country is very open and accepting towards new immigrants with their cultural diversity. Main practiced religion of the country is Christianity. The climate of the country varies from region to region, though at time it gets considerably cold. The population is a mix of Latvians as well as Russians.

All the sectors of the country have been privatized and it practices Capitalist mode of economy. This act has brought good returns to the commerce of Latvia, contributing in the country’s economic growth as well as increasing employment and investment opportunities manifold. This economy also makes the country ideal for foreign investment, as those investments can reap large benefits due to privatization. The country favours immigrant investment and business practices.

Latvia offers a Temporary Residence Permit to those who wish to settle in the country for a longer period of time as it enables them to reside in the country for a particular amount of time and gives them free access to many territories for business. A Latvia Temporary Residence Permit allows unrestricted movement and settlement opportunities in European Union countries.

To immigrate to Latvia, it is important that an applicant must first gather all the essential information regarding immigration and assess the location’s suitability with regards to self. Since the immigration procedure is long and tedious, it is advised that the services of a professional visa and immigration consultant are sought. An efficient consultant can make Latvia immigration visa processing from India a piece of cake experience. There are consultants who have been in the industry for many years and have a lot of experience in cases of Latvia immigration visa processing from India. Such consultants will take the burden off the shoulders of the applicant and take care of immigration procedures like application filing, documentation, Visa interview preparation and all such major aspects. A good consultant will look after each and every detail with responsibility.

However, before choosing a consultant on must ensure that the consultant has experience in the field of Latvian immigration. Apart from experience, the consultant should necessarily have all the licenses required to practice this trade and must be duly qualified for the profession. One must beware of fake consultants who suggest presenting fake documentation in order to speed-up the immigration process.…

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General Article

Expert Tax Relief Can Help Protect Taxpayers Faced With Mounting IRS Back Taxes

Expert Tax Relief Can Help Protect Taxpayers Faced With Mounting IRS Back Taxes

Many taxpayers in the current economic downturn are struggling to make ends meet, have lost theirs job, are living off their 401K plans – and are facing a hefty debt to the IRS. The IRS is serious about its debt collection actions, appointing thousands of new collection personnel to ensure the federal agency collects on outstanding debts.

Owing thousands of dollars in back taxes to the IRS puts you in a tough spot, but having to owe double or triple that amount in penalties and fees during this economy can be financial suicide. Don’t wait until the IRS comes knocking on your door, the IRS has powerful enforcement tools – tax liens, levies, and wage garnishments, among them – to aggressively pursue delinquent taxpayers.

It is vital that consumers seek out a qualified taxrelief firm that offers transparency throughout the tax resolution process so clients have realistic expectations for resolving their specific tax problems. An expert tax attorney or Certified Tax Relief Specialist can determine whether a taxpayer’s lack of ability to pay back taxes potentially qualifies them for an Offer in Compromise (OIC), which settles the tax debt for a lesser amount. But in many cases, reducing back taxes is not possible.

Not everyone is eligible to save ‘pennies on the dollar’ on their back taxes- contrary to what some TV advertisements will have you believe. Even if you can’t get your IRS bill reduced, expert tax help can prevent or halt the IRS from managing your cash flow for you – via debilitating levies on your paycheck, bank account and assets – while helping you preserve your finances to the greatest degree possible.…

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Family Law Attorney

Tips on Hiring a Probate Lawyer

An experienced attorney can effectively aid you in avoiding problems that may arise after someone has passed on, or in instances where an individual can become incapacitated.
Definition
Probate law pertains to matters regarding the estate or will of a deceased individual, issues involving a minor, or cases in which a person has been declared mental incompetent.
The Will
A will is a document that outlines just how an individual will dispose of their personal belongings and property when they pass on.
While some wills tend to be rather simple, others can end up being very complicated, with property being dispersed between several individuals or trusts, and the custody and care of minor children being involved. In such cases, an attorney is able to provide the necessary advice to have the document concise and clear while leaving no room for argument.
Trusts
These attorney’s should be called upon for use in the preparation of a trust, or an agreement in which one individual hold legal title to assets or property for the benefit of another.
While many believe that the wealthy are the only ones who benefit from a trust agreement, such is not the case. In fact, several types of agreements exist, each containing special instructions designed to assist the decedent with tax matters as well as limitations regarding how the beneficiary of the trust is able to use the property.
Court
Legal assistants or paralegals may prepare a trust agreement or will, however only an attorney is authorized to represent a client in court. Thus, probate lawyers are required in order to try a case in court.
These cases typically do not require an elongated court time, however, hearings involving the mentally incompetent, minors, a challenge of the will, or a lawsuit involving a decedent will ultimately require that the attorney appears in front of the judge to obtain a decision on the matter.
Estate Administration
A lawyer is useful in navigating the way through the process, which at times can be rather stressful and arduous. The paperwork pertaining to the administration of an individual’s estate varies state to state. Once a person has been declared deceased, their property must pass out of their name into the names of the beneficiaries and heirs outlined in the will.
An heir is an individual who has been named as the one who will inherit the decedent’s property. A deceased individual is not able to manage their finances, and thus, the property must ultimately pass on to someone who can.…

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General Article

Issues With The Internal Revenue Service? You Might Consider An Offer In Compromise

Issues With The Internal Revenue Service? You Might Consider An Offer In Compromise

An Offer in Compromise, or OIC, is a drafted negotiation with the Internal revenue service for a smaller amount than the whole amount due. Generally, it’s established upon “doubt concerning collectibility” (monetary information that you do not have the means to repay your IRS debts in full inside of a modest period of time). The Internal revenue service employs a strict equation to establish a sufficient settlement amount. A cash offer can be completed when the taxpayer repays the settlement total in full within 90 days of an IRS validation. Short term and long term deferred monthly payment programs are also out there in the event that the taxpayer is not able to repay the negotiated amount in full within 90 days of an IRS acceptance.

A person might qualify for an Offer in Compromise and not know it. IRS Collection Agents might not tell you that you are eligible. Or maybe, a seemingly friendly IRS Agent may offer to “help” you organize and process your own Offer in Compromise simply to uncover the whereabouts of any remaining personal assets. After that, the IRS will use its own formulation against you, reject your Offer in Compromise and request repayment in full or just seize your leftover assets (e.g. cash in your bank account, income and so on.) by way of various collection resources, including a bank or salary levy.

In the event that you speak with a tax lawyer, they should screen you for an OIC. Your legal professional needs to find out if an OIC is perhaps a choice since this may be the only vehicle that will save you a considerable amount of money. If you are eligible, your tax attorney will skillfully prepare your OIC and strongly support your interests until a final resolution is reached. More often than not, the IRS rejects OICs, hoping that once denied, you’ll simply pay. In such cases, you need to file a Notice of Appeal Response immediately after the Offer in Compromise assessment as most Offer in Compromise settlements are normally negotiated and properly reconciled before the IRS Appeals Office.…

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General Article

New Tax Incentives in the Small Business Jobs Act of 2010

New Tax Incentives in the Small Business Jobs Act of 2010

President Obama signed into law the Small Business Jobs Act of 2010 (H.R. 5297, the “Act”) on September 27, 2010. The Act includes a $12 billion tax incentive package aimed at small businesses to help them grow and to expand lending. These tax incentives are offset by several revenue-raising provisions, as discussed in more detail below.

Provisions Providing Small Business Access to Capital

Temporary 100 Percent Gain Exclusion on the Sale of Certain Small Business Stock

In general, non-corporate taxpayers may exclude 50 percent of any gain from the sale or exchange of qualified small business stock

(“QSBS”) held for more than 5 years (75 percent of any gain may be excluded if the QSBS is acquired after February 17, 2009, and before January 1, 2011). The amount of gain exclusion permitted is the greater of (i) 10 times the taxpayer’s basis in the QSBS or (ii) $10 million. In general, QSBS is stock in a C corporation that conducts an active trade or business and has gross assets not exceeding $50 million at the time the stock is issued.

Under the Act, 100 percent of the gain from a non-corporate taxpayer’s sale of QSBS acquired after September 27, 2010, and before January 1, 2011, that is held for 5 years is excluded from taxable income and no regular or alternative minimum tax will be imposed on the gain.

Temporary Reduction in Recognition Period for S Corporation Built-in Gain Tax

When a C corporation converts to an S corporation the S corporation must generally pay a tax on gain that arose before the conversion to an S corporation, known as built-in gain, and that is recognized in the first ten years that the S corporation election is in effect. A C corporation is one that is taxed at both the corporate and shareholder level while an S corporation receives pass-through tax treatment and is taxed at the shareholder level only. An S corporation is formed by election and is only permitted if a number of specific requirements are met.

Under the Act, the recognition period for an S corporation to recognize built-in gain is reduced to seven years for taxable years beginning in 2009 or 2010 and to five years for taxable years beginning in 2011.

Eligible Small Business’s General Business Credit

A taxpayer’s general business credit is generally limited to the excess of the taxpayer’s net income tax over the greater of (i) the taxpayer’s tentative minimum tax or (ii) 25 percent of the excess of the taxpayer’s net regular tax liability over $25,000. General business tax credits that are greater than this limitation may be carried back one year and carried forward up to twenty years.

Under the Act, the general business tax credit of an eligible small business for 2010 may be carried back five years, instead of one year. These general small-business credits are not subject to the alternative minimum tax for 2010. For this purpose, an eligible small business is a non-publicly traded corporation or partnership that has average annual gross receipts for the three taxable years prior to the current taxable year of no more than $50 million.

Provisions Encouraging Small Business Investment and Growth

Expansion of Internal Revenue Code Section 179 Deduction Limits

Under Internal Revenue Code Section 179, a taxpayer may elect to deduct the cost of “qualifying property.” “Qualifying property” is depreciable tangible personal property that is purchased or used in the active conduct of a trade or business such as equipment purchased for business use, office furniture, or office equipment. For taxable years after 2007 and before 2011, the maximum amount a taxpayer may elect to deduct under section 179 is $250,000 of the cost of the qualifying property placed in service for the taxable year ($25,000 for all other taxable years). For taxable years beginning after 2007 and before 2011, this $250,000 maximum amount is reduced by the amount by which the cost of the qualifying property placed in service during the taxable year exceeds $800,000 ($200,000 for all other taxable years).

The Act increases the section 179 expensing limitation for 2010 and 2011 to $500,000 with a phase-out threshold of $2 million and allows taxpayers to expense up to $250,000 of the cost of qualifying leasehold improvement, restaurant, and retail property.

Bonus Depreciation

The Act extends for one additional year the temporary 50 percent depreciation bonus first enacted in the Economic Stimulus Act of 2008 and then renewed in the American Recovery Reinvestment Act of 2009.

Under this bonus depreciation provision, 50 percent of the basis of qualified property may be deducted in the year the property is placed in service and the remaining 50 percent is recovered under normal depreciation rules. Generally, qualified property includes (i) …

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General Article

Tax Attorney – How To Find Help For An IRS Audit

Tax Attorney – How To Find Help For An IRS Audit

The last letter anyone wants to receive is one from the IRS. You may have just found out that you are to be audited, but do not panic. All you need to do is know how to find the best help and you may be able to lessen penalties. The laws and processes pertaining to the Internal Revenue Service can be very complicated, so you will need assistance from someone who knows how the system work. Read on for some advice on how to find the best tax attorney for your auditing needs.

First off, you will want to ask your lawyer, if you have one, or whoever files your taxes for a recommendation. However, these individuals should most likely only be asked for advice. They may not have the experience or knowledge necessary in dealing with this particular legal system.

Once you have found an ideal representative, you will want to check on their background qualifications, as well as their experience. You will want to make sure that the individual is qualified with the American Bar Association, as well as having the proper training. The best help will be someone who has had extensive education in taxation. Ask to see their credentials and if they studied in the areas you need help in.

Before actually retaining any particular representative, you may want to consult a few who can help you. You will want the best help you can afford in dealing with an audit, as this is a problem that should be resolved efficiently and completely. Be sure to ask for plenty of references from the lawyers you meet with, as you want to know their track record in dealing with other people’s audits in the past.

The best legal assistant is someone who tries to meet his or her clients more than halfway. The multitude of regulations and jargon that comes with tax law is not easy for most people to understand. Communicate with your tax attorney and ask for him or her to explain everything in terms that you will understand. You will also want to make sure your representative works with whomever you had prepare your taxes, so you get the best help possible.

Before retaining anyone, definitely make sure you can afford the help. Some attorneys can charge anywhere from 200 to 400 per hour for their services. Do not sign any agreements unless you know that the representation is well within your budget. Inquire about options for payment plans and if additional costs will be applied if the case moves into a tax court.

Most everyone would agree that hiring an attorney for something as serious as an IRS audit is a must. The key element to keep in mind is finding the best legal assistance for you as an individual. Consider a few different representatives, so long as their services are affordable for you. Use these advice tips to ask the right questions and to know what to look for in a proper lawyer, and you will find the best help for your all your legal, tax needs.…

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General Article

Need Answers to Legal Questions? Tips on Researching Before Hiring an Attorney

Need Answers to Legal Questions? Tips on Researching Before Hiring an Attorney

Most small and medium sized businesses and corporations have legal counsel on retainer, to gain quick access to legal questions which may arise at any time. Typically, the attorney on retainer specializes in their type of business and is familiar with the laws particular to their enterprise. However, ordinary people can also suddenly find themselves in need of legal advice, but without the benefit of a personal attorney. Some common examples include auto accidents, or landlord-tenant disputes. So where do you begin to find some answers? Frequently, you can obtain good legal advice and direction by doing a little research before you rush off to retain a lawyer. Here we have a few tips to guide you to the right lawyer, or a simple resolution to your legal problems.

Let’s say your situation involves a dispute with your landlord. While your rental agreement stipulates that the grounds will be maintained by the landlord, he’s recently fallen down on the job. You’re afraid that the branches of an aging tree may well fall on your roof. You decide to withhold a portion of your rent until he comes and addresses the problem. Do you have the legal right to do this? What do you do if he fails to respond? Or, perhaps you are the landlord and your tenant is neglecting the grounds, allowing trash or debris to accumulate to the point of being an eyesore. Do you have the right to evict the tenant? These are the sort of everyday legal questions which may not seem so serious as to warrant hiring an attorney for an amicable resolution.

Your first step should be to go online and search out some of the free legal sites. To begin your search, it’s often smart to precede your search criteria with the name of your state, or state and county, as appropriate. Most often, these websites have a wealth of information on common legal questions. You can conduct some preliminary research on your issue by browsing through the topic of your legal questions, reading up on the laws and local ordinances pertaining to your question. The free legal websites also offer articles and legal FAQs which can provide you with basic guidance and help you get a handle on your position. If your legal questions involve a fairly simple and straightforward problem, you may find your answers without any further research. For example, you may find that you’re unequivocally in the wrong. All you need do is correct the situation and the problem is resolved.

On the other hand, you may discover that your legal questions are a bit more complicated, with several issues that are best handled by an attorney. You can then fill in a summary description of your situation and submit it to the site. One of the staff will direct your inquiry to a qualified legal advisor, who will assess your legal position and email you a response. You’ll be matched up with an attorney in your area who can then offer his or her best advice on how to proceed.

This is where the legal websites make their money. The website is paid for referrals by the attorney who takes your case. You have the benefit of finding the right attorney to handle and resolve your legal questions.

Doing just this minimal footwork online can save you both time and money in making the best decisions for your legal situation.…