How Can You End Up With A Wrong Tax Consultant?

If you check the referrals and do not ignore any commission conflicts, then you might be able choose a professional consultant like David Justin Urbas. Then you can rest assured that your taxes, as well as your financial records, will be in order.

Hiring the perfect tax consultant will help you enjoy the long term benefits of tax returns. Moreover, like David Justin Urbas, the right tax consultant will help you keep your financial records clean as well. However, we often stumble while making decisions in regards to tax consultants. Yet, we can prevent falling into such traps by avoiding some common mistakes while choosing a tax consultant. To know about these common mistakes, read one below:

David Justin Urbas

What mistakes lead to you hiring a unsuitable tax consultant?

Avoiding Referrals

Many people tend to avoid this step after selecting their tax consultant. However, getting referrals from previous clients will help you determine the work ethics and level of professionalism of the advisor. Know that you should never shy away from this step. After all, this one step will help you get a clear picture of the consultant before he or she even works with you.

Ignoring compensation conflicts

Know that to determine what financial advisor will be right; you need to pay attention to the compensation structures. Advisors generally have two ways of getting compensation. One is fee-based, and the other is commission based. In the former category, advisors can only earn through the fees offered for their financial assistance. Know that such firms are generally registered as RIA or Registered Investment Advisors.

Note that commission-based advisors are mostly Registered Representatives of a brokerage firm. Their commission varies from one product to another, so they will generally push the investments and plans that will benefit them the most. As such, while choosing your tax consultant, make sure that you consider which kind will be worth your time and money. However, no matter what you choose, make sure you do not pay anything before getting the services.

Taking lax attitudes in your stride

Many tax consultants act like you could not possibly understand the terms and financial language they are using. Such advisors won’t even bother explaining to you what and why they are doing something. So it would help if you avoided consultants who have this attitude. Keep in mind that you should ideally hire those advisors, like David Justin Urbas, who will explain all the involved terminology and give you the related information.

Not checking credentials

Many people act too hastily on a personal referral and do not bother to check the tax consultant’s credentials. Know that it is a grave mistake that can result in financial and tax troubles later on. So always remember that you should check the credentials of the consultant and understand what it means. Also, it is advised that you get referrals that aren’t from your personal circles only. Get unbiased outside recommendations as well.

Overall, hiring a reliable and trustworthy tax consultant is not an easy job. However, if you check the referrals and do not ignore any commission conflicts, then you might be able choose a professional consultant like David Justin Urbas.Then you can rest assured that your taxes, as well as your financial records, will be in order.  

Best Smart Tips to Find the Right Tax Consultant for You

. If you are looking for the same, reach out to David Justin Urbas because he is the one who can guide you in the crucial hours, give excellent advises, conduct strategy meetings and discuss goals.

With the ongoing pandemic crisis and the downfall of the economy, it becomes important for the investors and the entrepreneurs to save and protect their wealth. This is where you need a great tax advisor, who can save your million dollars in this crisis. If you are looking for the same, reach out to David Justin Urbas because he is the one who can guide you in the crucial hours, give excellent advises, conduct strategy meetings and discuss goals. Laymen can’t understand financial terms, tax laws and more. To find the right tax consultant, take a look at the few tips written below.

Find a certified individual

The best tax consultants are always Certified Public Accountants. Most entrepreneurs look for CPA individuals as have in-depth knowledge about the subject and are passionate about lowering taxes. Apart from CPA, you can also take the help of an enrolled agent.

Check education and experience

You will never want a novice to handle your cases. A tax consultant’s experience and education make a huge difference in savings tax in the long-term. If you get an advisor who has worked for some of the reputable personalities and has graduated from one of the top universities, do not doubt his /her capabilities. He or she may know all the nitty-gritty of the subject.

Find a creative side to his/her personality

Most of the accountants make a straight approach, but when you come under the guidance of David Justin Urbas, you will find legal yet creative ways to use the law to protect your wealth. Many will suggest you pre-pay the amount at the year’s end or postpone it through an IRA. But a right advisor will spend months to discuss with you and then develop a long-term tax strategy for saving taxes.

Hire one who questions you

If you find that you need to ask all the questions to your tax advisor and state him or her about your goals and objectives, this can be a red flag. Your tax advisor must be more interested to know about the tax-saving and financial goals. He or she must conduct a thorough diagnosis so that he/she can come up with strategies to save taxes.

Look for long-term gains

It does not matter how much a consultant charge you, all that matters is how much the preparer costs you. Invest in a great tax advisor like, David Justin Urbas to save your million dollar wealth. Appointing a great tax-advisor is what you need to settle long-term gains and investments in your business.

Now when you know how a smart and creative tax consultant can protect your wealth when the economy is going down, find one and tell him/her about your financial dreams. Only a professional advisor who knows everything about this subject can help you to save money. Do a bit of research and meet the professional for a face to face discussion.

Functions of a Tax Consultant

David Justin Urbas believes the role of a tax consultant is of extreme importance and has the ability to impact the lives thousands of people around him.

A tax consultant is a person who knows the finer nuances of financial laws and regulations and shares his in-depth knowledge of tax-paying with the tax payers for a fee so that they can fulfil their financial obligations with minimum risks. And tax consultancy business is a firm that specializes in providing these expert advices. According to David Justin Urbas, hiring a tax consultant reduces the chances of an audit scrutiny which might otherwise lead to heavy penalties.

Justin Urbas Tax

The duties of a tax consultant does not follow any demarcation and can vary widely depending upon the type of firm the consultant is working for, his job ranking and even, his work experience along with recognition. The functions of a tax consultant are as follows:-

  • Preparing tax returns– Tax consultants are most commonly involved in organizing and making the tax returns of the clients who have paid their due taxes. They also make their clients aware of any new changes in tax laws so that they can be in compliance with it. They also help to fill out the tax forms for those who are unfamiliar with the procedure. Since, the types of taxes the clients pay may vary significantly from each other, this is a very huge responsibility and is divided amongst the consultants. While, few look after the property taxes, others can be involved with commercial or incomes taxes.
  • Analysing financial circumstances– A good tax consultant evaluate a client’s asset and advises in such a way so as to minimise the tax liability. David Justin Urbas is of the view that a consultant should also provide insight on legal matters of estates and trust funds and do the necessary needful.
  • Explaining the implications of significant events– Tax consultants help people to resolve the tax implications of life events like births, deaths, marriages, divorces etc. Inheritance taxes and untimely deaths can sometimes lead to legal complications which can be explained clearly to the concerning client and dealt professionally by a consultant.
  • Understanding the language of law– In legal complications, every tiniest detail matters and a change of one or two word can make a significant difference. Any tax expert is good at breaking down the complexity of legal information and translating it to the client in a simplified manner. A tax consultant should be extremely aware of all the codes and regulations and be willing to conduct research on them on behalf of the clients.
  • Representing a client– If a client is already in a fix with the finance and tax authority and has consulted a tax expert for its solution, it becomes and obligatory duty of that consultant to represent his client in dealings with the concerned government bodies.

A good consultant should possess strong verbal and written skills, be a good listener, and have methodical mind-set with the ability to counter-argue which in turn help to resolve complex situations. David Justin Urbas believes the role of a tax consultant is of extreme importance and has the ability to impact the lives thousands of people around him.

The Evolving Roles and Responsibilities of a Tax Consultant in the Contemporary World

. According to David Justin Urbas, a renowned tax advisor, today is more about making the most of opportunities while helping the leadership at MNCs understand the impact of several tax laws on crucial business decisions.

At the end of a financial year, we resort to tax consultants for the last minute investments. It will not be an exaggeration to say that death and taxes are inevitable. However, when it comes to taxes, we tend to be very jittery. Hiring a tax consultant is a saving grace as he helps us plan things and save most of our hard earned money from going into taxes. According to David Justin Urbas, a renowned tax advisor, today is more about making the most of opportunities while helping the leadership at MNCs understand the impact of several tax laws on crucial business decisions.

David Justin Urbas

Areas of Specialization for a Tax Advisor

A tax consultant has an important role to play in the global arena as businesses are facing stiff competition because of various market forces in operation. Some areas of specialization for a tax advisor are listed as follows:

  1. Corporate tax services: If you aspire to be a tax consultant but only want to concentrate on the various facets of business taxes, specialization in corporate tax services can be the perfect choice. However, in this case, you should possess a solid knowledge of corporate taxes right from the production stage to the sales of product or service. You need to have a sharp business acumen if you want to be an expert in corporate taxes.
  2. International tax: With organizations focusing more on contributing towards global economy, the role of international tax consultants is gaining a strong footing. It is an offshoot of corporate taxes where tax consultants focus only on MNCs or businesses having overseas operations. International tax laws, risk and compliance, business model optimization, etc. are some of the areas of specialization. David Justin Urbas is of the view that for an individual to be an international tax consultant, he/she must possess sound knowledge of international tax laws.
  3. Mergers and acquisitions: Mergers and acquisitions are one of the most important events of a firm. In this case, tax advisors have an important role to play. Besides suggesting the best tax implications during the process till the post-transaction stage, tax advisors need to be involved at every step. During mergers and acquisitions, taxation experts need to accomplish a lot of tasks with diligence.
  4. Interstate tax services: Regulatory issues are a hindrance to companies that operate in several states. A tax consultant needs to be acquainted with the prevailing tax laws of the respective state. You need to have a clear idea of the different taxes levied across states, the state-specific duties on doing business, etc.
  5. Wealth taxation: India is a land of cultural diversities. You will come across families who are pursuing a lavish lifestyle and poor people who have barely anything to eat. For managing complexities in tax structure in a country like India, several people hire tax advisors to assist them on estate planning, will creation, etc.

Tax Consultant

Tax consultants will have a more important role to play in the coming days. Before choosing a field, a tax advisor should assess his/her areas of strengths and weaknesses. Gain proper knowledge of the tax structures of several countries before making your mind to be a tax consultant.

Learn about the Different Ways to Save Tax

Justin Urbas helps to get a clear idea about the tax saving ways. In order to get saved from unnecessarily paying extra amounts to the government.

Tax payment to the government is the responsibility of a dutiful citizen, but there are a few ways to curtail the amount. It is true that not many people have detailed knowledge about all these things and get help some professional to ease out their worries. There are some legitimate ways to save tax under the Income Tax Act of 1961. Now which ones will be beneficial for you? Have a talk with Justin Urbas to get a clear idea about the tax saving ways. Since taxation laws are kind of complex and not everyone’s cup of tea, so it is always advisable to get professional help in order to not make any mistakes.

coins-912718_1920

Make a contribution to the National Pension System – Under Section 80CCD(1B), you will be allowed to contribute to an amount of up to fifty thousand to the NPS. The National Pension System makes a way for you to make an investment in equity and the debt pension funds which will help to form a retirement corpus. The amount can be withdrawn at the age of sixty. Continue reading “Learn about the Different Ways to Save Tax”

Simple Tips To Save Taxes And Improve Your Finances

Who doesn’t want to reduce the amount of taxes they pay? It is almost like a natural instinct. Many people find this task hard to do, but this is very much possible. All you need to do are but a few things, and you will see significant tax savings in the upcoming year. Well-known financial adviser Justin Urbas has a few tax-saving tips for you.

With the coming of the financial year, a lot of people become stressed, wondering if they will be able to save taxes. Cutting down on tax payment is not impossible anymore. Following a few helpful tips will assist you to do that.

Donate To Save: Any layman would wonder, how, giving away can save. If you know that donating to charities is a noble deed, you should know, it is also helpful in saving some money. But, unless you are really interested in helping the needy with your money, we’d advise you to not take this step. Donating to well-known charities produce proofs of the amount you have paid. That amount can be deducted when you file your tax return. So, you are saving, while also contributing to a humble cause.

Own A New Business: A lot of people despise the idea of sitting behind a desk and do an ordinary job. If you are one of them, you might want to consider running a business; after all, it is a feasible process of earning. Starting a new business is useful in saving a great deal of tax payments. Whatever costs you incur in launching your new business are spared in tax deductions. If you like this idea, you should have a word with a top tax adviser, in order to know how it works.

Track Your Medical Expenses: A lot of people do not know that a certain list of medical expenses are free from taxes. Medical objects such as bandages, breast pumps, adhesive tapes, gauges etc. are exempt from taxes, and will save you money. Go to the official IRS website, and you can check out the list of items that are free from taxation.

Make Savings For Retirement: You can save for your retirement, and that, in turn, can help you save on taxes. Save for your retirement by putting money in 401k plans and/or an Individual Retirement Account (IRA). This will help you secure your future, while also reducing your tax payment.

Tax Credit Eligibility: If you have just become a parent, you are eligible for a tax credit. The expenses incurred in taking care of your newborns are considerable. You can also avail income tax credits if you don’t earn much. Individuals earning less than 50k need to check for such eligibility.

Tax adviser Justin Urbas became a renowned tax adviser by giving these tips to people. According to him, reducing tax payments is not a dream anymore. One just has to think smartly and know the right set of things to do.

Tax Saving Tips To Improve Your Finances Considerably

Reducing tax amounts is not a distant dream but a very favorable reality. You just need to do a couple of things to witness considerable tax savings the coming year. Take a look at some tax saving tips from reputed financial advisor Justin Urbas.

Who does not love saving on taxes each year? As the financial year rolls on into tax filing time, many people are concerned if they can really save taxes. Reducing tax amounts is not a distant dream but a very favorable reality. You just need to do a couple of things to witness considerable tax savings the coming year. Take a look at some tax saving tips from reputed financial advisor Justin Urbas. You can apply them in your own life.

Most Essential Tax Saving Tips for the Average Person

Give Away More To Save More – You might have heard that charity is a good cause, and it is certainly so if you want to save some tax Dollars. This tip is for those who are genuinely interested in supporting different charity causes. If you donate to reputed charities and can produce the proof of that, the amount can be written off while filing your tax return. So, you can support the causes you want and get rewards for your good work.

Become A New Business Owner – If you are tired of the daily grind of your 9 to 5 job, launching a business can be a viable way of making a living. If you are going down that path, you can also save some a big chunk of tax payments. The expenses incurred in getting your new business off the ground are exempt from tax deductions. It makes sense to consult with a leading tax consultant to understand how this works.

Hold Off A Bit On Mortgage Payments – Interest payments for mortgages are subject to tax deductions. So, if you intend to save money during tax time, delay your mortgage payments as much as possible. This is a method which works well for a lot of people. It can really save you some money.

Check Eligibility For Tax Credit – Individuals who are low or moderate earners might be eligible for tax credits. More importantly, if you are making less than 50k you should definitely check your eligibility for income tax credit. New parents are also eligible for tax credits, as the costs of caring for newborns are considerable. You need to be aware of such circumstances to possibly cut down on tax credits.

Save For Your Retirement – Saving money for your retirement can also be a great way of ultimately saving money on your taxes. You can choose to put money into IRAs and 401(k)s to save taxes and also secure your future. Even if you will end up putting more money into retirement, it is a great way of saving on tax payments.

Keep Track Of All Medical Costs – Many individuals fail to realize that certain medical costs are exempt from taxes and will save you money. Tax deductible medical expenses include objects like breast pumps, acupuncture items, bandages etc. You can even check which medical items are deductible on the official website of the IRS.

These tips can help you save money on your taxes and become slightly richer.

Tax Saving Tips That You Can Implement Right Now

Tax consultant David Justin Urbas has some amazing tips that can help anyone save taxes.

Saving taxes is one of the main priorities for millions of homeowners throughout the USA. Every year, when tax time comes around, we try to find ways to possibly reduce the burden on our shoulders. But saving tax legally is not really a simple matter. At the same time, we have the example of many individuals and businesses who are saving considerably. Tax consultant David Justin Urbas has some amazing tips that can help anyone save taxes. Let us take a look at these simple ways anyone can implement in their lives.

Legitimate Ways of Saving Taxes That You Can Follow This Year

1. Save for retirement – It might be high time you considered saving for retirement, as it guarantees a more secure financial future. In addition to financial security, investments made in 401ks and IRA retirement schemes will help you save taxes. That’s because, you can choose to deduct these from your adjusted gross income.

2. Start a new business – This is one of the sure-shot ways of saving those precious tax Dollars. If you have been, mulling over the idea of launching a new business soon, maybe it’s time to start. The wide range of costs that are required by you to run your business, are pushed into the expenses column, which is free from taxation. This is a credible method used by many US residents to achieve their business dreams, in addition to saving on tax payments.

3. Give money away to save taxes – It might sound quite odd at first, but you can actually save a lot by donating. Charitable donations can be made for the causes you believe in. Start by finding the right charities. When you make your donations, be sure to keep records of your transactions. These can be produced to get tax deductions. It is a win win situation as you are contributing to your favorite cause, while saving your money too.

4. Make property investments – Not many of us know that investing in property is a credible way of saving your taxes. If you were interested in purchasing a property, it might just be the right time. The mortgages that you have to pay for new properties are subject to interests, which are tax deductible. Numerous US citizens have made tax reductions with property investments.

5. Delay your student loan – If you are yet to pay your student loan, do not do so immediately. Delay your loan amount payments as long as you can, to receive tax saving benefits. As loans can be deducted from your adjusted gross income, you are set to get better savings. Across the USA, many students at the graduate and undergraduate level follow this method to reduce taxes.

While these are some of the most credible methods on saving taxes, you can also check your eligibility for receiving tax credits, or try income splitting too. We must apply the mentioned methods, to see realistic savings. One can always consult with a leading financial consultant, to know more about such opportunities.

8 Proven Ways To Save Tax Dollars and Become Richer

Financial consultant David Justin Urbas has some integral tax saving tips that can come to your aid.

Who does not want to save a few precious dollars when tax time arrives? But it has to be done in a planned and legal manner. Financial consultant David Justin Urbas has some integral tax saving tips that can come to your aid. Let us take a look at the various ways to effectively reduce tax amounts.

Tried and Tested Tax Saving Methods in 2017

Use renewable energy – A convenient and practical way of aging tax credits is installing renewable energy resources like solar energy in one’s home. It is a win win situation,. As you will also be paying lesser energy tariffs for solar and other green energy resource usages. Many homeowners are choosing to upgrade to these forms of energy.

Get a tax expert – A professional tax consultant can be your best friend as that time of the year approaches. They can find areas of deductions as well as credits, to reduce your payable tax amounts. The average person cannot afford the effort required for a complete and structural overview of their finances.

Make donations if possible – Making donations to charity for causes you believe in, is also a win win situation. You can help out where you want, and also gain eligibility for significant tax deductions. However, this is only possible if you maintain and can produce the receipts of such transactions.

Invest in a property – Purchasing a new residential property is a valid way of reducing payable tax amounts. Property buyers should know that the mortgage on a property is tax deductible. Many new buyers keep benefiting from the deductible slabs for their new home investments.

Save for retirement – Who does not want a financially secure future post their career? Investing in a 401k or IRA scheme can go a long way to benefit you during retirement. Moreover, the amounts which are going towards these retirement schemes are generally tax deductible. Consistent cost reductions motivate many working professionals to reconsider retirement investments.

Become a business owner – One of the most credible ways of saving money during tax time is by launching a home business. The costs that are required for the day to day expenses of your business are all tax deductible. If your business becomes a successful venture, it will ultimately be greatly beneficial.

Save on medical – Many of us are unaware that various medical costs are actually tax deductible. This includes costs related to transportation to and from medical treatment centers, a lot of medical supplies and expenses, dental costs and more. It is recommended that you check information online to confirm which medical supplies are tax deductible.

Tax credit scopes – The average household does not put much thought into checking their eligibility for tax credits. There are various factors that can make your beneficiaries when tax filing time comes around. Some of the most common tax credit eligibility criteria are child care, child adoption or low gross household incomes.

If you are keen on reducing your tax bill and get to a more secure financial condition eventually, these tips can help you out.

7 Credible Ways of Saving Taxes You Can Implement.

Financial advisor Justin Urbas has several key tips that you can implement practically to save money with tax payments.

Every year US residents are confronted with the tasks of preparing and filing taxes in order to comply with regulations set by the government. While there is no workaround to having to pay taxes, there are ways you can reduce the financial burden on your shoulders. Financial advisor Justin Urbas has several key tips that you can implement practically to save money with tax payments. Following this can help you generate significant savings.

The Most Practical Tax Saving Tips You Can Use in 2018

1. Give your money away – The easiest way to save taxes is simply by starting to donate to charitable organizations, for causes that you believe in. It is a noble act that which ultimately benefits you, as such charitable contributions are tax deductible. You do need to provide documented proof of your contributions to claim such benefits.

2. Stall education loan payments – If you are paying student loans currently and want to save taxes, you’re better off not clearing the loan amount out as yet. An intelligent decision is to drag your student loan payments for as long as possible. Deductions can be made from your AGI, and you will save some precious tax dollars.

3. Extend your mortgage payments – Many homeowners continue to save tax dollars by extending their mortgage payments. It is a smart strategy that anyone can implement, as the interest amounts on mortgage payments are tax deductible. This is a step that has to be taken in a calculated manner.

4. Save taxes while saving for retirements – Retirement funds are necessary for any individual to get a comfortable lifestyle after they become professionally active. Investing in 401Ks and IRAs are also credible way of saving more money, as you are having to pay less taxes. Retirement fund payments can be deducted from your AGI, thus reducing the amount on which you are to be taxed.

5. Benefits for those with children – Parents who have just brought children into the world or are raising children can benefit for lucrative tax breaks. By means of claiming a dependency exemption, you are eligible to save money made in tax payments. The Child Tax Credit, if you are eligible for it, can also help you get benefits regarding taxes.

6. Save on medical expenses – Certain medical goods and accessories are tax deductible and can help you save money. These include payment for medical fees, hospital or nursing home care, acupuncture, general medical supplies including bandages, and more. Once again, you should have receipts or any other form of documented proof for these payments.

7. Start a new business – Many people fail to realize that launching a new business is a credible way of saving on tax payments. Costs required for your business can be classified as expenses, which are usually exempt from taxes. Having a registered business can be quite effective in reducing tax payments.

There are many more ways of saving money from tax payments that you can seek information about online. Consulting with a financial advisor can also give you a better idea.