In the affidavit, Pullen alleged that Nasseri-Jafar had a network of Los Angeles-area contacts who would buy and distribute opium that was smuggled into the United States by couriers who were carrying false-bottom suitcases. Nasseri-Jafar also acted as a courier, and U.S. immigration records showed that he had made 13 trips between Los Angeles and Germany or France in the two years before his arrest, Pullen said. Whichever method you decide to use to take the deduction, always be sure to keep accurate records such as a mileage log and receipts. If you need assistance figuring out which method is best for your business, don’t hesitate to contact the office. If you use your car for business such as visiting clients or going to business meetings away from your regular workplace you may be able to take certain deductions for the cost of operating and maintaining your vehicle. You can deduct car expenses by taking either the standard mileage rate or using actual expenses.

  • Yet, there are so many tax advantages it becomes worth the navigational trouble.
  • They are the only taxpayer representatives who receive that right from the U.S. government, rather than from individual states.
  • To figure business use, divide the business miles driven by the total miles driven.
  • Nasseri-Jafar also acted as a courier, and U.S. immigration records showed that he had made 13 trips between Los Angeles and Germany or France in the two years before his arrest, Pullen said.

This works because business miles driven are determined by business use. To figure business use, divide the business miles driven by the total miles driven. Failure to report substantial amounts of income such as a shareholder’s failure to report dividends or a store owner’s failure to report a portion of the daily business receipts. Tax planning is the process of looking at various tax options to determine when, whether, and how to conduct business transactions to reduce or eliminate tax liability. Investigating these cases requires experience, integrity, and determination.

The Enhanced Premium Tax Credits are Substantial

If your household income is more than 400 percent of the Federal Poverty Line, there is no limitation amount for any filing status. The arrests capped an 18-month investigation by the Drug Enforcement Administration and FBI that began when German authorities intercepted nearly $5 million worth of opium in Dusseldorf, Germany. We have the means to get to the bottom of your most complicated financial matters. Our team of forensic accountants brings a diverse background of experience to each matter.

The key word is “purchase.” Equipment can be new or used and includes certain software. Some deductions can be taken whether or not you qualify for the home office deduction itself. Keeping these receipts makes it so much easier to determine percentages of deductions later on in the year. The effort to come up with crystal-ball estimates may be difficult and by its very nature will be inexact. On the other hand, you should already be projecting your sales revenues, income, and cash flow for general business planning purposes.

Bijan Law

Once the opium arrived in Los Angeles, Nasseri-Jafar would make large deposits in U.S. banks and then wire the money to his accounts in Germany and Switzerland, Pullen said. Some of the money was then transferred from German accounts to people in Iran, he said. In order to qualify as a deduction, business must be discussed before, during, or after the meal and the surroundings must be conducive to a business discussion. For instance, a small, quiet restaurant would be an ideal location for a business dinner. Be careful of locations that include ongoing floor shows or other distracting events that inhibit business discussions.

How Your Income Affects Your Premium Tax Credit

They don’t even think about their taxes until it’s time to meet with their accountants, but tax planning is an ongoing process and good tax advice is a valuable commodity. It is to your benefit to review your income and expenses monthly and meet with your CPA or tax advisor quarterly to analyze how you can take full advantage of the provisions, credits and deductions that are legally available to you. When you enroll in coverage through the Marketplace during Open Season, which runs through Jan. 31, 2016, you can choose to have monthly advance credit payments sent directly to your insurer. If you get the benefit of advance credit payments in any amount, or if you plan to claim the premium tax credit, you must file a federal income tax return and use Form 8962. The standard of living of the population is a multifaceted complex socio-economic category that illustrates the level of development and the degree of satisfaction of the physical, social, and spiritual needs of the population. An assessment of the standard of living is necessary to identify «weak» aspects in the development of individual countries and their internal regions and to develop a competent national and regional policy.

In the article, the authors assess the standard of living of the Finnish population. The object of the study was selected regions of the country at the NUTS 2 level. Form 8962, Premium Tax Credit (PTC), reconciles the amount of advance credit payments made on your behalf with the amount of your actual premium tax credit. You must file an income tax return for this purpose even if you are otherwise not required to file a return. Lari has an outstanding arrest warrant in Arizona for alleged possession of opium, and Mojaddam has multiple arrests for alleged fraud, the affidavit said.

Learn Bijan pronunciation with video

If your household income is at least 300 percent, but less than 400 percent of the Federal Poverty Line the limitation amount is $1,250 for single filers and $2,500 for all other filing statuses. If your household income is at least 200 percent, but less than 300 percent of the Federal Poverty Line the limitation amount is $750 for single filers and $1,500 for all other filing statuses. Repayment LimitationIf your household income is less than 200 percent of the Federal Poverty Line, the limitation amount is $300 for single filers and $600 for all other filing statuses. Also arrested for alleged possession with intent to distribute opium were Kamran Atarzadeh, 53, and Faramarz Bokhour, 55, both of Los Angeles.

Those arrested were Iranian nationals, including the owner of a downtown Los Angeles jewelry design store. The home office deduction is quite possibly one of the most difficult deductions ever to come around the block. Yet, there are so many tax advantages it becomes worth https://accounting-services.net/bookkeeping-california/ the navigational trouble. Here are a few tips for home office deductions that can make tax season significantly less traumatic for those of you with a home office. If you own two cars, another way to increase deductions is to include both cars in your deductions.

In 2016, the mileage reimbursement rate is 54 cents per business mile (57 cents per mile in 2015). Entertainment expenses are legitimate deductions that can lower your tax bill and save you money, provided you follow certain guidelines. Claims for fictitious or improper deductions on a return such as a sales representative’s substantial overstatement of travel expenses or a taxpayer’s claim of a large deduction for charitable contributions when no verification exists. Heading the team, Bijan Kohanzad, EA, is a Certified Fraud Examiner, CFE, with extensive knowledge and experience in the field of forensic accounting. We offer a wide range of monthly accounting, bookkeeping, and tax services to our clients.