William Doonan - Tax Attorney in New York

Showing posts with label William Doonan. Show all posts
Showing posts with label William Doonan. Show all posts

Monday, May 8, 2017

Fans May Get More Westeros After GOT Wraps

Fans may get more Westeros after GOT wraps

Fresh off a massive season finale, HBO’s Game of Thrones is poised for the seventh season of the hit adaptation of the gritty George RR Martin novels. Fans of both the show and the books are on the edge of their seats, excited to finally see what happens when Dany’s dragons come to Westeros and what might happen when all the show’s leads finally meet.

Thursday, May 4, 2017

How to Maintain a Great Credit Score

How to Maintain a Great Credit Score by William Doonan

Your credit score is most commonly and frequently used by lenders to determine your financial strength when you apply for a loan or a credit card. A lower rate may mean that you cannot qualify for credit or that your interest rate is higher than it other would be. This essentially means that a lower credit score costs you money through the form of higher interest charges. Your credit rating may also be reviewed when you apply to rent a house, open up a utilities account, purchase auto insurance, apply for a job and more. As you can see, your credit report plays a critical role in many aspects of your life. If you are looking for a way to improve personal finance and take control of your money and life, learning more about credit ratings is a good starting point.

5 Common Tax Misunderstandings that Could Cost You

5 Common Tax Misunderstanding that Could Cost You by William Doonan

Paying federal and state income taxes is a responsibility of all wage earners in the United States. While federal taxes are filed by people every year, the tax system is complex and there are many misunderstandings and misconceptions about the federal tax system. There are five misunderstandings in particular that could actually end up costing you.

Monday, May 1, 2017

The NFL Draft is a Powerful PR Tool

The NFL Draft is a powerful PR tool

Remember when you read about the draft after it happened in the newspaper, or you heard about it on the radio? Those days are done. Now, thanks to NFL Network and ESPN, the draft has become Must See TV for millions of football fans.

Wednesday, April 26, 2017

3 Things to Look for When Trump Unveils His New Tax Plan

3 Things to Look for When Trump Unveils His New Tax Plan by William Doonan

A new president always brings with him a new tax plan. While one is never totally sure if the common wisdom will hold with President Trump, his focus on taxes means that a new plan will be out sooner rather than later. Below are just a few things that people can expect from his tax plan.

Tuesday, April 25, 2017

Easy Tax Credits and Deductions that Help you Save Money

Easy Tax Credits and Deductions that Help you Save Money

Tax season can be a stressful time. Many people dread it, and some people look forward to a refund. When doing your taxes, it is important to get all the tax breaks that you are entitled to. Therefore, you need to be aware of the tax deductions that are available to you. Here are some easy claims and tax credits and deductions that can help you save big time.

Tuesday, April 18, 2017

3 Tips for Taking Your Business Global

3 Tips for Taking Your Business Global
A lot of people are interested in the international market. There are lots of customers available overseas. However, there are challenges as well. Different government laws and cultures can interfere with the success of your company if they are not understood. There are many businesses who have successfully entered the international arena after starting at home. This article includes some advice from what they did.

Friday, April 7, 2017

So You Want to be an Accountant? Consider These 5 Things First

So You Want to be an Accountant? Consider These 5 Things First BY William Doonan

Accounting isn't the most exciting career choice, but it is a steady job where there is ample jobs. Are you considering a career as an accountant? Here are a few tips that you may want to deliberate before joining the ranks of other certified public accountants.

Tuesday, April 4, 2017

Property Tax Myths and Misconceptions

Property Tax Myths and Misconceptions
Anyone who owns a home or building is required to pay property taxes each year, which can fluctuate over time due to several different factors. Property taxes are often added to the mortgage that is paid each month. Although most people pay property taxes, there are a few common myths and misconceptions that are easy to believe.

North Carolina Folds on Bathroom Bill

North Carolina folds on bathroom bill

After a solid year of political and economic turmoil over the so-called “bathroom bill,” the state of North Carolina voted to “roll back” its controversial bill in an effort to keep the state from losing out on potentially lucrative sports and business contracts.

Monday, April 3, 2017

How to Grow Your Local Tax Practice

How to Grow Your Local Tax Practice

Growing a local tax practice takes a strategic marketing effort. You might be the best tax professional in your city. However, if prospective tax clients are not aware of your services, your business will not flourish. Although the tax preparation industry is competitive, it is possible for you to grow a thriving business in the face of the competition. Here are 5 marketing actions you can take to grow your local tax practice.

Wednesday, March 29, 2017

Getting Your Local Business in Front of an International Audience

Getting Your Local Business in Front of an International Audience by William Doonan

A lot of people want their business to become more successful internationally. What they fail to realize is that various cultures have different preferences. U.S. culture highly values individual autonomy and self-effort. The responsibility of the individual for their own behavior is mandatory. Asian culture highly values individual dependence and group goals. Asian organizations see the company as something they are all loyal to, rather than a tool for increasing personal success.

Tuesday, March 28, 2017

Dunkin Making a Push Against Starbucks

Dunkin Making a Push Against Starbucks by William Dooonan

For many years, there was one coffee company that reigned supreme. You know of whom I speak before I say the name: Starbucks. For a generation, this brand became synonymous with coffee on the go. Then the brand landed on grocery shelves and created a new battle of the brews. This led to Starbucks dominating both in their branded shops and at the corner store.

Thursday, March 16, 2017

Is It Cheaper to Live in a State Without Income Tax?

Is It Cheaper to Live in a State Without Income Tax? by William Doonan

Each year when you file your income tax returns, your attention understandably is focused on the total amount of money you paid in taxes. This often includes taxes paid to the federal government as well as to the state government. It is common for some individuals to pay 18 or 20 percent or more of their gross income in income taxes, and you understandably want to reduce this financial burden, if possible. This is such a tremendous sum of money that you may even be thinking about relocating to a state that does not have a state income tax to save money. While this may seem ideal at first, a closer look at this option can be revealing.

Wednesday, March 8, 2017

3 Common Misconceptions About Tax Season

3 Common Misconceptions About Tax Season by William Doonan

Tax time brings with it everything from a great deal of tension and stress to a load of burning questions. We can't do anything about the tension and stress, but here are answer to 3 of the most frequently asked questions during tax time.

1. What happens if I don't file by the tax deadline?

If you miss the deadline, at most, the IRS will simply charge you one of two kinds of fees: failure to file or failure to pay fees. Since the failure to file fee is significantly higher than the failure to pay fee is, it's always a good idea to file, even if you can't pay.
If you fail to file, the IRS will charge you 5% of your unpaid taxes per month, while if you fail to pay they will only charge you 0.5 of 1% per month. If you only miss the deadline by a few days, there is very little - if any - penalty.

2. Will I pay less if my spouse and I file jointly or separately?

Before 2001, the standard deduction for a married couple filing jointly was less than what they would pay if they filed individually. This was sometimes referred to as a "marriage penalty." Today joint filers are allowed to claim exactly twice as much as they would each be able to claim individually. There are still significant advantages to filing either jointly or separately, however, depending on your situation.

Advantages of filing jointly:

If you are a married couple with a single wage earner, filing jointly gives you a double deduction
  • Married couples are only eligible for certain tax credits such as earned income credits, lifetime learning credits, child and dependent care credit, American opportunity credits and deductions for adoption expenses. If you are married and choose to file separately you cannot claim these credits.
  • You don't have to file jointly to claim a child tax credit but the $1,000 credit doesn't begin to phase out for joint filers until $110,000 in income, whereas it phases out at $55,000 for single filers

Advantages of filing separately:

  • The IRS allows you to deduct medical expenses in excess of 10% of your income. If one person makes significantly more than the other person, it might be advantageous to file separately if the person with the lesser income also has large medical bills.
  • By filing jointly, both parties are legally liable for any mistakes or misinformation on a tax return. If one spouse has a complicated tax return for any reason, it might be smart to file separately.

3. Do I have to file income taxes if I didn't make much money?


If you make less than the minimum income requirement for the tax year, you don't have to file. For 2016, if you were under 65, you need to file if you made more than $10,350 if you are a single filer and $20,700 if you are married and filing jointly. The limits are slightly higher for persons aged 65 and older. If you are married and filing singly, however, the minimum is $4,050 regardless of age.

William Doonan is a tax law and legal expert in New York.

Monday, March 6, 2017

Tips To Establishing A Successful Career As An Investor

Tips To Establishing A Successful Career As An Investor - William Doonan

Trying to establish a career as an investor is not easy. There are a lot of risks involved, besides buying and selling stocks. Here are tips to help you succeed and have a successful career as an investor.

Don’t Make These 5 Tax Mistakes This Year

Don’t Make These 5 Tax Mistakes This Year

With the tax deadline fast approaching, millions of Americans are gathering their receipts and looking for ways to maximize their refund. Unfortunately, a simple error can delay your refund or mean that you leave money on the table. The following are the most common tax-filing errors according to the IRS.

Thursday, February 9, 2017

4 Tips for Branding your International Company

4 Tips for Branding your International Companyby William Doonan

It is one thing to build brand recognition in a country where you are familiar with the language and local customs. It is quite another to tackle international brand-building in unfamiliar territory.

This very effort has led to some of the most famous and often-repeated international brand-building disasters in history. Of course, no company sets out to unintentionally build brand awareness through messing up!

Friday, January 27, 2017

How to Become an Attorney in NYC

How to Become an Attorney in NYC

According to the United States Bureau of Labor Statistics, attorneys in the New York City metro area are the highest-paid in the nation. Here's how to become a lawyer in New York City.

Friday, January 20, 2017

4 Steps to Avoid Complications During Tax Season

4 Steps to Avoid Complications During Tax Season

Tax season can be extremely stressful with the vast amounts of work that have to be done as a tax professional. At the same time, it can be extremely rewarding and a chance to show new clients what you're capable of. If you want to do your best this tax season, here are four things to avoid complications.