Quote of the Week

"A man without a smiling face must not open a shop!" -Old Chinese Proverb

This is true in our personal lives and in our business lives! Allow Imperium Tax to serve you with smiling faces and arms wide open!

Make Imperium Tax Corporation your Tax Preparer NOW!

Get Your Maximum Refund for less!

First 50 Clients Pays $50!

SSNs & Tax Ids Are Acceptable!

Refer a Friend and Receive $15!

Imperium Tax Corporation

404.820.6383

www.imperiumtax.com

Tax Season 2015: Are you on your Own?

According to the IRS, filing season is scheduled on time this season, opening on January 20, 2015. Luckily Congress renewed many of the expired "extenders" of the tax credits, signing them into law on December 19, 2014. Although, these "extender" provisions have been renewed, and the IRS soon after announced their acceptance of electronic and paper tax returns on time this year, the chances of an easy and stress-free tax season are very minimal.

This year's National Taxpayer Advocate's Annual Report has come out and it does not look promising to the millions of taxpayers that will file during the tax season. CBS released an article and news feed on Jan 14, 2015, stating that "the 2015 tax filing season is gearing up to be a nightmare...thanks to the fewer and more poorly trained Internal Revenue Service employees".

Furthermore, National Taxpayer Advocate Nina E. Olson states in her report that we are to face one of the worst taxpayer service from the IRS in history. This is credited to the IRS's increasing workloads while having about 12,000 fewer employees and the existing employees are poorly trained.

The lack of highly trained employees derived from the erosion of the IRS budget over the years. Before the IRS would answer its 100,000 million calls per year in under 4 minutes. Now we are looking at less than 40% of taxpayers' calls answered with longer hold times of at least 30 minutes. This creates a struggle for the taxpayers that elect to file their taxes-paper or electronic- by themselves. During the off season, when taxpayers elect to file an extension, there will be no assistance whatsoever available for those filing after April 15, 2015.

Whether these budget cuts are due to the rumors of "Congress retaliation" is uncertain. But what is certain is that the government is expecting its millions of taxpayers to figure out this tax season "on their own"!

Although this tax season will be difficult, it does not have to be stressful to you.

Imperium Tax Corporation has IRS Certified and highly trained Tax Professionals who have been preparing taxes for over 5 years. We can help get you through this stressful season and into the light for only a fraction of the high costs. Call now to get a free consultation and to have your questions answered. Don't allow IRS budget cuts to cut your chances of receiving your Maximum Refund for less.

Give us a call today and get your Maximum Refund for less! 404.820.6383

Imperium Tax Corporation
404.820.6383
imperiumtaxcorp@gmail.com

Like us on Facebook!

Follow us on Twitter!

Follow our boards on Pinterest!

Tips for Year End Tax Planning

Are you prepared for Tax Season 2015? 

Perhaps you've been paying attention to the buzz that there will be a more difficult and stressful tax year this upcoming Tax 

Season due to Congress' delay in decision making. A lot of individuals and businesses alike are waiting to hear what Congress decides on our tax laws so that we can move forward next year.

Currently we are awaiting Congress’s decision on tax extenders. These tax extenders are the tax credits and deductions such as mortgage debt forgiveness, higher education expenses deduction, state and local sales tax deductions, charity credits and extensions, and business credits and extensions. These extenders expired since December 31, 2013. 

According to an article in the USA Today, “if these five dozen or so expired credits and deductions aren't renewed, it will have a huge impact on people and businesses”. This article explains more in detail about the various extenders that are at risk, and what each of these credits and deductions do and who are negatively affected if they aren't renewed. To learn more about the tax extenders, read here.

Due to the uncertainty in decision making of Congress, the American people again must witness a stressful and difficult tax year for Tax Season 2015. Not having a decision on our tax policy could cause issues including changes in our credits and deductions, a delayed start of tax season again, and possibly a delay in tax refunds for next year.

Although the delay in policy making is making year-end tax planning a more stressful task, there are still some basic steps we can take in planning for our upcoming Tax Season and our taxes for the year 2015.

1)    Healthcare- Due to the Affordable Care Act, those of you who do not have health insurance or are planning to be exempt from the health care plan must start making arrangements Now! The wait for exemptions to be approved and to have your healthcare ready could take from now to the end of January. It’s best to be prepared so that once you receive your W-2s, you can start filing as soon as possible.

\

2)    Charitable Donations- Continue to make your charitable donations and be sure to keep all receipts with your donations.

3)    Investments- Now is a great time to look over investment portfolios, to offset taxable gains with losses.

4)    Income vs Withholding- Now is a great time to ensure you are on track with paying your taxes throughout the year. You definitely do not want to be surprised by owing a huge amount of money to the IRS come Tax time.

However, you may also want to ensure that you are not overpaying the government as well. A lot of people get excited about receiving a huge tax refund, but that may indicate that you are overpaying the IRS. After all, taxes are only an interest free loan to the government.

 In order to ensure you are having the right tax withholding from your paychecks, use the IRS Withholding Calculator and adjust your W-4s with your employer accordingly. Also, email Imperium Tax Today at Imperiumtaxcorp@Gmail.com for assistance on how to receive a Raise in your Paychecks without going to your boss!

5)    Self-Employed Business Liability- For self-employed business owners, now is the time to review your estimated tax payments to ensure you are accurate for your 2014 tax liability. It may be beneficial to pre-pay any estimated tax liability in December, rather than wait until April. This could put you in a positive position come Tax Time.

Although the tax extenders are at a halt, a basic year end plan for your tax year can make your tax season a lot less stressful. Call Imperium Tax today for assistance with adjusting your W-4s and to learn more about the new IRS required regulations for proper record keeping for business owners claiming deductions and credits during Tax Season 2015! Email us at Imperiumtaxcorp@Gmail.com for all of your pre-tax season questions and concerns!

Imperium Tax

404.820.6383

imperiumtaxcorp@gmail.com

Photo taken by Jada Lopez 2014

Quote of the Week

"The fruit of your own Hard Work is the Sweetest."

-Deepika Padukone

Photo Taken By © Jada Lopez 2014

The Vicious Cycle Pt. II

So what are the rich doing that the poor and middle class are not?

The Poor and middle class is working hard for money. They are spending their time to work for money. All the while, the rich are making time and money work for them.

I started this journey at 12 years as I attended business meetings with my mom. One of the most memorable businesses that I attended were the Maxxis 3000 meetings. This was a financial business led by my "uncles" Alvin Curry and Ivey Stokes. I learned from these intelligent men as well as from many financial gurus and sources about the importance of getting out of debt and creating wealth.

I have learned throughout these years how it feels to be apart of the working class. I've worked long hours past overtime hours while being paid salary and hourly. i have watched my 20-40+ hours of week of labor not truly reflect in my paychecks, along with more than 1/3 of my check being eaten up by taxes. At the beginning of a new year, I anticipated for a Federal Tax Refund, only to learn that about only 60-70% of the taxes I paid the previous year was refunded to me.

After experiencing the working class experience along with so many older and young men and women, I looked at my paychecks and I looked at myself in the mirror. I asked myself, "Is this the best that I can do?"

Why are the rich getting richer and the poor and the middle class getting poorer? The true answer is that the Rich have whats called a Financial IQ! They know how money works. And most importantly, they know how to make money and time work for them.

Not many of us want to be filthy rich. But many of us want to be wealthy and well off in order to take care of ourselves, our retirement, and give a little something back to our children's children's children.

I am only 25 years old. Most of you would call that a baby or really young. However, its not too young to start down the journey of Financial Security. And its never too late to start down the road of Financial Freedom.

Join me as I travel the road less traveled by others, and you too can break the vicious cycle!

Call Imperium Tax Today at 404.820.6383 for a free consultation and to get the Financial knowledge you need to grow and truly accomplish your goals and dreams!

The Vicious Cycle Pt. I

Have you noticed the vicious cycle that seems to plague our parents, our grandparents, and their parents before them? They wake up, go to work all day, come home, go to bed and day in and day out, they continue this cycle until the glorified weekends approach. TGIF! Remember that? Throughout the year, they are only able to boast of one vacation a year. Maybe two or three if they can afford it or if they earned enough vacation hours.

All the while, they miss countless children plays and sports games, and they have dirty looks from their Boss when they have to call off due to their 2yr old toddler having the flu and a croup cough. And although our parents and our parents' parents see their hard earned money (hours) being eaten up by taxes that (despite a Federal Refund check) never really all get paid back, they tell us to take the same steps that lead them down this broken road.

What do we get? We get generation after generation of hard workers that never see the true fruits of their labor nor accomplish the dreams they had since age 25. We are lucky to get retirement, or have a lump sum of savings in the bank, or we'd be doomed to become a percentage in the poverty statistics.

However, as I drive down the streets of Peachtree Battle Road and window shop in the Lenox Mall of Buckhead, I'm made aware of one true thing. There is something really wrong with this picture, isn't it?

Why is there only 1% of the population having 95% and more of all the world's riches while 95% of the population barely have 1% of the world's riches to call their own? Why does the middle class number continue to shrink into either the poor class or the upper "rich" class? But most importantly, why do we as a younger generation see whats happening and are following in our parents' footsteps?

There is one true reality of our economy today. There will soon only be two economic classes of people. The poor class and the rich class.

The poor class are those people that go to work day in and day out, but no matter how hard they work they only earn enough to make ends meet. They are constantly working hard for money while their body clocks are ticking away into old age.

Then there is the rich class. These are the people that you see driving in the iconic vehicles of good money ie. Mercedes Benz, Range Rover and classic BMW. They seem to have countless free hours everyday to dine in the Houston's restaurants, take long jogs, and enjoy a well deserved hard day's labor of shopping in Phipps Plaza for the Holiday Gala coming up at the end of their fabulous week.

Why does it seem that the hard working are so poor and the "hardly working" are so rich? The question that I have personally always asked is, " What are the Rich doing that the poor and middle class are not?".......

Read Part II for more!