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Georgia’s Title Ad Valorem Tax

Motor vehicles purchased on or after March 1, 2013 and titled in Georgia are exempt from sales and use tax and annual ad valorem tax, also known as the “birthday tax”. These taxes are replaced by a one-time tax that is imposed on the fair market value of the vehicle called the title ad valorem tax fee (“TAVT”). The fair market value is the taxable base of the motor vehicle. The... Read More

Beware of Tax-Related Scams

With the 2014 tax season well underway, the Internal Revenue Service urged taxpayers to be aware that tax-related scams using the IRS name proliferate during this time of year. Tax scams can take many forms, with perpetrators posing as the IRS in everything from e-mail refund schemes to phone impersonators. The IRS warned taxpayers to be vigilant of any unexpected communication that is purportedly from the... Read More

IRS To Accept Individual Tax Returns Starting Jan. 31

Individuals will experience a 10-day delay to the start of the 2014 filing season, the IRS has announced. The filing season for individuals will open January 31 instead of the scheduled start date of January 21. Most business returns, however, will be accepted starting January 13, the IRS reported. Read More

Texas Sales and Use Tax: Rule on Record Keeping Requirements Updated

The Texas sales and use tax rule on records and information required to be kept by sellers and purchasers has been updated to conform to previous legislation. The revised rule reflects that all sellers, and other persons that store, use, or consume taxable items purchased from a seller, must keep records of all gross receipts and taxes received or collected on each transaction. In addition, taxpayers must... Read More

HLB International Appoints New Member in Puerto Rico

HLB International has recently signed a new member in Puerto Rico: Parissi PSC CPA, based in San Juan. Established in 2002, Parissi PSC CPA provides a full range of audit, accounting, tax and consulting services. Read More

2014 Inflation Adjustments

The tax items for tax year 2014 of greatest interest to most taxpayers include the following dollar amounts. The tax rate of 39.6 percent affects singles whose income exceeds $406,750 ($457,600 for married taxpayers filing a joint return), up from $400,000 and $450,000, respectively. The standard deduction rises to $6,200 for singles and married persons filing separate returns and $12,400 for married... Read More

Beth Salvati Teaches Course on Entrepreneurship Through Operation Hope

As part of our involvement in Operation Hope, Beth Salvati recently spent a morning at Coretta Scott King Middle School in Atlanta teaching a course on planning a business. This is part of Operation Hope’s program geared toward teaching young people about financial empowerment and entrepreneurship. Beth was impressed with these students and their student creed: “As much as I attempt to calm... Read More

Operation Hope Global Financial Dignity Summit

Elizabeth Salvati recently attended the Operation Hope Global Financial Dignity Summit. Operation Hope is a non-profit organization dedicated to advancing and empowering the poor and underserved through financial dignity. The Summit, themed ” Global Economic Recovery: How the Poor Can Help Save Capitalism,” covered issues of financial inclusion, small business, entrepreneurship, jobs and... Read More

HLB International Appoints New Members in Tanzania and Italy

HLB International, one of the leading international accountancy networks, has recently signed two new member firms. Joining the network are Mekonsult, based in Dar Es-Salaam, Tanzania, and Studio IFF Inturri Frangipane Ferrandi based in Brescia, Italy. Established in 2004 and with Big Four-trained partners, Mekonsult provides a full-range of accounting and financial management services including audit,... Read More