August 15, 2022

What Is a Tax Shield?

Bookkeeping

Working with US Tax Shield, you can determine which payment plan is the best fit for your financial situation. As US Tax Shield warns on their website, there are some back tax assistance companies that claim to offer 100% relief from your debts. However, debt relief is ultimately determined by the IRS, so you should be weary of these types of tax shield claims. When you get your tax consultation from US Tax Shield, you’ll receive some basic information about how your tax practitioner will approach your debt. You may also receive a quote for the services that are being offered. It’s always best to start with a complimentary consultation when you’re working with a back tax assistance company.

• If you’re looking for back tax assistance services for a debt of $10,000 or greater, US Tax Shield may offer the solutions that you’re looking for.
• Otherwise, you would be paying taxes on more income than you should.
• A tax shield refers to tax deductions that an individual or business can take to lower their taxable income.
• Referrals to services that help consumers with tax resolution, tax preparation, tax audit help and other tax issues.

It’s an allowable deduction that you can take from your taxable income. Tax shields can vary slightly depending on where you’re located, as some countries have different rules. A tax shield refers to tax deductions that an individual or business can take to lower their taxable income. Although tax shields have traditionally been used by wealthy individuals and corporations, middle-class individuals can also benefit from tax shields. Taxpayers who wish to benefit from tax shields must itemize their expenses, and itemizing is not always in the best interest of the taxpayer.

Other Tax Relief Companies

These intangible assets can affect your rate of tax and tax expense. US Tax Shield only considers taxpayers with at least $10,000 in tax debt, which is typical among tax relief firms. To increase cash flows and to further increase the value of a business, tax shields are used.

Joshua has a master's of public administration in forensic accounting from John Jay College. We were very pleased with US Tax Shield and the professional way they handled our case. Each individual was professional and very helpful, and communicated very well and in a timely fashion. I appreciated how each person we dealt with took our situation very seriously, and treated us as a valued client. We have recommended US Tax Shield to other individuals based upon our good experience.

Program to Shut Down Schemes and Scams

See if you qualify for student loan refinancing and compare real time offers. For example, if a company has an annual depreciationof $2,000 and the rate of tax is set at 10%, the tax savings for the period is $200. Joshua Wiesenfeld is a financial investigator, certified public accountant , and certified fraud examiner with almost a decade of experience. He writes about taxes and investing and has been published in the Journal of Accountancy and Fraud Magazine.

• When your back taxes becomes more than you can reasonably pay, it’s important to turn to an experienced professional who can help you find the best way to resolve the situation.
• She has worked for top financial institutions, including Discover, The Hartford, ScotiaBank, Chime, Synchrony and more.
• We want to thank Mr. Charles for taking the time to speak to us and allowing us to address his concerns.