Your Money: For Workers Sent Abroad, a Tax Jolt
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Congress sharply raised the percentage tax rates on Americans working overseas, also imposing taxes on the rent assistance that many companies provide their employees.
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Companies moving to the Washington region face a sometimes bewildering variety of tax structures, regulatory environments and geographic features.
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People who send money abroad to friends and relatives are being offered more reassurance.
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Here's a surprising discovery: Paying taxes is a pleasure for many people.
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The looming political battle over how to reform the tangled US income tax code could get ugly. But one option, a tax aimed at boosting savings, holds promise.
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With the holidays upon us, the thought of year-end tax planning is likely to induce headaches rather than visions of sugar plums. But if you want to boost
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The work may have been subcontracted to another firm.
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Business & money: Workers in poor countries exploited, say investors.
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(InfoWorld) - A recent financial filing from Sandisk in Ireland illustrates the sometimes controversial nature of the corporate tax regime in the country. While Sandisk has joined scores of other companies attracted to Ireland for its low corporate tax rate, the company appears to represent an extreme example of benefiting from the tax environment. In a financial statement filed in Ireland earlier this month, Sandisk Manufacturing, the Irish subsidiary of Sandisk Corp., reported four employees and revenue of $955 million between the period when the company first opened up in Ireland, April 2005, and the end of 2005. Sandisk Corp. had 1,083 employees at the end of 2005 and reported revenue for the year of $2.3 billion. Other U.S. technology companies with offices in Ireland, such as Google and Microsoft, have also had their Irish financial reports scrutinized for generating revenues that appear out of proportion to the number of employees in the country. Google and Microsoft each employ hundreds of workers in the country. "The fact that [Sandisk has] only four people and a billion dollars makes them stick out a bit more," said John Gilsenan, an independent analyst who sometimes consults for IDC Ireland. In the Sandisk example, just four employees in Ireland out of 1,083 around the world appeared to generate nearly half of the company's revenue. The tax regime benefits the Irish government but could become a sore point for other countries. "I certainly don't think that there's any impetus from the Irish government for this to change," said Gilsenan. While the Irish government is likely pleased to earn the tax from companies like Sandisk, the governments where the companies are based might start looking for ways to ensure they can collect their fair share of taxes from the companies, he said. Ireland's low corporate tax rate dates back to the 1950s and its current 12.5 percent rate was set in the 1990s. The tax rate, far lower than in most other countries, has attracted many companies to open operations in Ireland, spurring the current economic boom in the country. In April last year, Sandisk announced plans to transfer its Europe, Middle East and Africa headquarters to Dublin and employ 50 people by the end of this year. In a statement announcing the move, it said it already had 12 people working in Dublin managing supply chain and sales support functions for Sandisk. A Sandisk spokesperson was not available to comment on its financial statement or Dublin operations.
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You probably know that the dollar is plunging. That will make it expensive to travel overseas for the holidays or to buy something made in a foreign land.
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It's not easy changing the way you do business, especially if you are the Internal Revenue Service and your workload surges from January to April each year as taxpayers file returns and await refunds.
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(CBS/AP) Perhaps it has happened to you or someone you know: a job lost to a faceless competitor continents away, as part of the trend that has seen millions of jobs shift from the US to overseas in the past few years.
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Your 401(k) plan may be costing you more than you think.
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At tax time you can find lots of advice on how to boost your deductions or credits. People are focused mostly on getting as much money back from the government as possible.
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Whether it's a career change or retirement, marriage or divorce, there's a tax involved.
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Consider paying lower taxes now versus higher taxes later.
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The largest immigration boom in U.S.  history is expected to lift earnings at companies from discount  retailers to telecommunications providers, putting dollar signs  in the eyes of investors looking to cash in on the wave of  newcomers, mostly from Latin America and Asia.