Panama Foundations for Estate Planning and Offshore Asset Protection

Private Interest Foundations in Panama are an ideal tool for success planning and asset protection. They can either be inter vivos (active during your lifetime) or testamentary (activated upon death). The Foundation may, for example, serve as a substitute for a will, thereby legally avoiding probate. In this respect it is similar to a 'living will.'

It can very effectively isolate a portion of your estate dictating the management and success of specific assets. Needless to say this is very important for international assets that may not be easily bought within the scope of a traditional last will and testament.

The key to making this work is the selection of beneficiaries. Let's say you want to divide your assets evenly between your two children – you simply appoint these two persons as beneficiaries. You may choose to tell your heirs or not as you wish.

Of course, confidentiality can only exist up to a point. Although you could choose to keep the entire Foundation entirely under wraps, from a practical point of view it is very important to leave some details so that after your death, someone will inform the beneficiaries. You could, for example, leave detailed death instructions in a sealed envelope with a trusted friend or lawyer. The best idea, however, is probably to appoint a trusted third party as a 'Protector' of the Panama Foundation. Remember you can appoint more than one Protector, or you could even appoint a Corporation as protector.

What about using a Panama Foundation for simple offshore asset protection during your lifetime? Here too,

Foundations provide a very attractive alternative to the Trust for purposes of asset separation and protection. Compared to asset protection trusts, they are lower profile and less vulnerable to hostile interpretation by the courts. Panamanian law is unequivocal that assets transferred to the Foundation can not be identified or attached and they can not be used to satisfies the obligations of either the founder or the beneficiaries.

As always, however, I do not recommend relying on purely legal protections. The ultimate protection is to make sure that even in Panama, any assets the Foundation holds are completely unknown and invisible to anyone such as the Foundation Council or Registered Agent who could possibly be subpoenaed in a court case. What they do not know, they can not be forced to tell – even in the illegally event that a Panamanian court tries to enforce a sentence contrary to Panamanian law.

The only exception to this rule is that creditors have a right to challenge a Panamanian foundation within a period of 3 years from the date the assets being claimed are given to the foundation. It's important to note that this period runs from the date that the assets went into the foundation, not from the date the Foundation was registered.

The Foundation's financial affairs are nobody's business but its own, and it should be up to you to decide who to tell about the existence of the Foundation. So for added security, I typically recommend what I call 'strategic geographic diversification' when setting up a long term structure for estate planning.

Put simply, this means that you should open a bank account where most of the Foundation's assets will be held outside Panama. European banks fit the bill perfectly here, and when forming a foundation you should seek introductions and recommendations of reputable European banks that understand Panamanian legal documents. Banking outside Panama gives a strong extra level of protection.

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Source by Peter Macfarlane

The Study of DNA Genetic Testing

The study of DNA and genetics is one area of ​​science which is not only theoretically fascinating but also practicable useful in many ways. One of the main applications of the growing understanding of DNA and the role that human genes play in people's lives is various forms of DNA genetic testing. This is a process which has a wide variety of applications and each of them is useful to people in different ways. We'll now take a look at various forms of DNA genetic testing and what they are used for.

One area of ​​genetic testing which is commonly undertaken is that relating to genetic diseases. It is possible to carry out DNA genetic testing on an adult human in order to determine if they have genes in their makeup which will lead to a serious illness or adverse health condition later in their life. This is possible to detect before the disease shows any symptoms whatever. A huge advantage of this form of early testing is the extra time both the patient and the doctor have to put into place preventive and coping methods which can help a person navigate the challenges of their health and live as fuller life as possible.

Another use for this type of testing is to screen foetuses in the womb to make sure they are developing correctly and have no genetic abnormalities. Some of the conditions which can be detected by foetal DNA genetic testing include Down syndrome. The parents of a fool that has tested positive for some form of DNA genetic disorder have a range of options. They may wish to terminate the pregnancy in order to spare the child from living a life of illness. Alternately, they may wish to keep the child and knowing about their condition early on gives both parents a lot of time to prepare and adjust in preparation for dealing with an abnormal child.

Law enforcement is another area of ​​life which has seen a lot of benefit from the advances in DNA genetic testing. Using high-tech methods a law enforcement department is able to perform DNA genetic analysis on a crime scene to gain clues about a criminal's identity. For example, they might find a gene which indicates the criminal has a certain physical attribute. This material can be compared with the DNA genetic data imposed on law enforcement databases and this could link known criminals to new crimes.

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Source by Jerry Cantrell

Method of Commencing Action in the Magistrate Court in Nigeria

How proceedings are initiated in the magistrate court.


(A) Magistrate Court in Lagos

Under ord 1, Magistrate’s Courts (Civil Procedure) Rules, two forms of commencement are provided:

A person can institute an action using any of the following:

1. Claim: see O. 1 R. 1 of the Magistrate Court Rules of Lagos 2009. The claim is to be attached with Particulars of Claim.

2. Originating Application: See O. 1 R. 2(a) (b) &(c) of the Magistrate Court Rules of Lagos 2009. It is used when facts are not in dispute.

Procedure in the use of CLAIM

1. Claimant to deliver to the Registrar of the Court, a praecipe in Civil Form 1 of the Appendix to the Rules together with Particulars of claim signed by the claimant.

2. Registrar to enter claim on Civil Cause Book

3. The Registrar will issue and serve the defendant Ordinary Summons for contentious matters while Summary Summon for non-contested matters (CIVIL FORM 4 with Form 4A annexed) and the Particulars of Claim. See O. 2 R. 4 of the Magistrate Court Rules of Lagos 2009

4. The defendant is to respond to the Claim within 6 days in Civil Form A4. The likely steps to be taken by the defendant are:

a. Request for further particulars within 6 days

b. File a defence or counter-claim within 6 days

c. File a counter-claim against another person and ask for time to enable him add the person as a defendant

d. Tender before action the subject matter of the suit.

See O. 2 R. 4-8 of the Magistrate Court Rules of Lagos 2009

Summary Summons

This is used when the claimant wants a quick judgment. After filing a Claim with the Particulars of Claim, the Claimant will request via a letter to the Registrar to endorse the Claim as a Summary Summons. See O. 3 R. 1 of the Magistrate Court Rules of Lagos 2009.

The defendant may do any of the following upon receipt of the claimant’s processes:

1. File a counter-claim within 5 days if he has a defence to it

2. Admission

Failure to do any of the above will entitle the claimant to apply and judgment in default will be given. See O. 3 R. 4 of the Magistrate Court Rules of Lagos 2009. If the defendant admits it, the claimant is to within 5 days, file an acceptance or rejection of the admission. The life span of summary summons is 3 months. See O. 3 R. 8 of the Magistrate Court Rules of Lagos 2009.

Actions commenced by Originating Application. Order 1 R.8(1)

Used where proceedings are authorized to be commenced in Magistrate Court and not required to be commenced otherwise, such proceedings to be commenced by originating application and shall be referred as action. It shall be in writing, stating the order applied for and sufficient particulars showing the grounds for which the applicant makes the application.

(B) Methods of commencing actions in District Courts in Abuja are by:

1. Plaint, Form 1

2. Default summons

3. Originating application


It is to be filed along with a Particulars of Claim. The Registrar will then issue a plaint note to the applicant. The Registrar will issue and serve Ordinary summons in Form 6 with the Particulars of Claim to the defendant. It is issued outside the jurisdiction with the leave of the Court. See Nicholas V. General Manager Nig. Railway Ltd.

Default Summons-Form 7

This is used in liquidated money demand which the Plaintiff feels the defendant will not have any reasonable defence to it. This is issued after the Plaintiff has filed a Plaint with his Particulars of Claim supported with an affidavit in Form 8. The Registrar will then issue and serve the default Summons in Form 7 annexed with Form 7A used to enter defence on the defendant. The defendant is to reply within 16 days by way of denial, counter-claim, and request for time or tender before the action contained in his Notice of Intention to defend. If the defendant does not respond in 10 days, judgment may be entered against him if proven that he was served with Form 9. The judgment can be set aside if the debt has been satisfied.

Abandonment of excesses

Here a Plaintiff/Claimant claiming above N250, 000 in Abuja or N10, 000, 000.00 in Lagos of the general monetary jurisdiction of the Magistrate, will have to forego the excess amount otherwise the Court will lack the competence to sit on the matter. The fact that a Claimant/Plaintiff foregoes the excess in his claim must be stated in the Particulars of Claim before the Court. The effect of abandonment is that no separate action can be commenced to recover the excess amount abandoned.

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Source by Christian Jonathan Nwachukwu

Landmark Judgement for Starbucks in Chinese IPR Case

The protection of intellectual property in china has long been high on the list of concerns for innovative foreign companies looking to do business there. What little legal framework existed around intellectual property rights (IPR) has been difficult and time-consuming to enforce. There are signs, however, that the situation may be improving for companies which use trademarks, logos and branding in the People’s Republic.

In a recent case, newly amended Chinese trademark legislation was put to the test when the American speciality coffee retailer Starbucks accused a local Shanghai company of copying their trading name and logo.

Starbucks opened its first Shanghai outlet on Huaihai Road on May 4, 2000, building on the success of its dozens of stores across Taiwan and the rest of mainland China. Shortly prior to this opening, a local company had registered its own business name – Xingbake Coffee Co. Ltd. – with the Shanghai authorities. By 2003, the Chinese firm had opened two outlets in Shanghai using the trade name ‘Xingbake’.

The legal dispute between Starbucks and their local competitor arose because ‘xing’ translates from Mandarin as ‘star’ and ‘ba-ke’ is an approximate phonetic rendition of ‘bucks’. Although Starbucks does not officially use this rough translation in China, the word ‘Xingbake’ has become synonymous with the US firm’s outlets amongst the public.

Starbucks considered that, by trading under a similar name and by the use of a very similar green and white logo, Shanghai Xingbake was competing unfairly. On this basis, Starbucks filed a law suit against Xingbake in Shanghai on December 23, 2003, alleging trademark infringement.

In reply to the accusation, Mao Yibo, General Manager of Xingbake, said that his company has registered its enterprise name with the Shanghai authorities in March 2000, before Starbucks was established in the region. By using the name ‘Xingbake’, he claimed that his company was simply using its legitimate title instead of a trademark.

Mao denied that the name of his company and its logo had been influenced by their Seattle-based rival. “We invented ‘Xingbake’ as our brand when we planned to start a café business in Shanghai and it is just a coincidence that our name is the same with Chinese version of Starbuck [sic]”, he said. “The logo was designed by our own staff. To be frank, I hadn’t heard of Starbucks at the time, so how could I imitate its brand or logo?”

Chen Naiwei, director of the Intellectual Property Research Centre of Shanghai’s Jiaotong University does not accept this, explaining that ‘Xingbake’ has been used as the sole translation of ‘Starbucks’ in Taiwan since 1998. This predates the registration of Xingbake’s enterprise name in Shanghai by two years.

Despite Mao Yibo’s claims and his further assertions that Xingbake’s serving style and target market differ substantially from those of Starbucks, Shanghai No. 2 Intermediate People’s Court found in favour of the American giant on December 31, 2005 – two years after the law suit was filed.

Shanghai Xingbake was ordered to stop using its name, issue an apology in a local newspaper and pay 500,000 Yuan (US$62,000) in compensation to Starbucks.

The basis of the Court’s decision was the relatively newly amended Trademark Laws of the People’s Republic of China, which came into force on October 27, 2001. The amendments form part of a raft of revised legislation introduced to protect the owners of intellectual property in China. Under the new laws, the Court determined that the name ‘Starbucks’, written in Chinese or English, was sufficiently well known to be deemed a famous trademark and was, therefore, entitled to protection.

This ruling is the first of its kind under the new legislation and may be an indication that China is responding to pressure from the European Union and the United States to crack down on IPR infringements and counterfeiting. China is believed to be the source of around 70% of the world’s pirated goods at a cost of around US$250bn each year to US companies alone.

In a statement released on January 18, Jiang Zian, the attorney for Shanghai Xingbake confirmed that the company had already begun an appeal against the judgement in the Shanghai Higher People’s Court. Jiang explained that Xingbake does not use the English translation ‘Starbucks’ and had no plans to counter claim against their competitor for using the same Chinese name. “The problem is they use Xingbake as the brand name in Chinese and we use it as our company name. We just want to keep our company name and run our own business”, Jiang said. A spokesperson for Starbucks later confirmed that it would be defending itself against the appeal.

Starbucks now has 156 outlets in mainland China and has a presence close to some of the country’s most iconic locations, including the Great Wall and the Forbidden City. At up to US$6 per cup, the company’s coffee costs more than the average Chinese worker makes in a day. Despite this, Starbucks coffee is increasingly popular with China’s emerging urban middle class.

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Source by Thomas Moore

What Homeowners Need to Know About National Flood Insurance!

How Homeowners Can Navigate Choppy Waters With Ease!

The purpose of flood insurance is to protect property owners and renters against losses from floods-losses that a typical homeowner’s policy does not cover. Whether you have a condo or a house, whether you’re a builder or a renter, here’s information to help you know who is eligible for this insurance, where to obtain it, and how the program works.

Flood insurance is available only in communities that participate in the National Flood Insurance Program (NFIP), a program of the Federal Emergency Management Agency (FEMA).

Homeowners, builders, and communities want to preserve and protect their property. What measures exist to help them?

Why Have Flood Insurance?

You may not think you live near enough to water to be at risk, but dams and levees do break, drainage systems can become overloaded and back up, and hurricanes can veer off path.

Protecting your home and belongings with flood insurance is far less costly than cleaning up after the fact. Nor can you depend upon Presidential Disaster Declaration aid. Even if such a declaration is made for your area, it can be a long time before the money arrives.

The National Flood Insurance Program

Over time, the US government realized that the measures in place to discourage unwise land development or to decrease losses from floods simply didn’t work. Therefore, in 1968, Congress established the National Flood Insurance Program to protect property owners against the possibility of loss.

How Does It Work?

A community must agree to adopt and enforce a floodplain management ordinance that is designed to reduce future flood risks in Special Flood Hazard Areas (SFHAs). When a community follows or agrees to follow these laws, the federal government will make flood insurance available to every property owner in that community.

Each property owner must then follow all of FEMA’s and NFIP’s requirements whether or not he or she purchases flood insurance. One of the requirements is properly installed flood vents.

How Do You Define Community?

A community is any State, area, or political subdivision; any Indian tribe, authorized tribal organization, or Alaska native village; or authorized native organization with the authority to adopt and enforce floodplain management ordinance for the area under its jurisdiction.

Community participation in the NFIP is voluntary, although some states require participation as part of their floodplain management program. Each community in an identified flood-prone area must assess its flood hazard and determine whether flood insurance and floodplain management would benefit its residents and economy.

How are Flood Hazard Areas Determined?

The Federal Emergency Management Agency (FEMA) produces maps that identify various flood hazard areas, such as the Special Flood Hazard Area (SFHA), a high-risk area that stands a 1% chance of occurring in any year. The government believes that this high-risk standard is a reasonable compromise between the need for floodplain development and the need for building restrictions aimed at minimizing loss of life and property.

Development can take place in the SFHA as long as it complies with local floodplain management ordinances that meet the minimum federal requirements. Flood insurance is required for insurable structures within high-risk areas.

What Kind of Requirements Are There?

When a community participates in the National Flood Insurance Program, every property owner in that community has to follow all of FEMA’s code requirements as set out in its floodplain management ordinance. That’s true whether or not the property owner buys flood insurance. These code requirements include but aren’t limited to foundation openings (also called “flood vents”) and first flood elevation height requirements.

What Types of Structures Can Be Insured?

If you are in a community that participates in the NFIP, nearly every type of walled and roofed building that is mostly above-ground and not entirely over water can be insured. This includes mobiles homes and traveler trailers without wheels that are anchored to permanent foundations. Separate coverage is available for the contents of these buildings.

What isn’t insurable under the NFIP?

Buildings entirely over water or principally below ground, gas and liquid storage tanks, animals, birds, fish, aircraft, wharves, piers, bulkheads, growing crops, shrubbery, land, livestock, roads, machinery, motor vehicles, equipment in the open. Most contents and finishing materials located in a basement or in enclosures below the lowest elevated floor of an elevated building are not covered.

How To Find Out If You Can Buy The Insurance

Property owners and renters can see if their community participates in the NFIP by contacting a community official or insurance agent or by visiting

How to Obtain A The Insurance Policy

If your local insurance agent does not sell flood insurance, call the NFIP at 1-888-379-9531 or visit

How Much Flood Insurance Coverage Is Available?

The NFIP Flood Insurance Manual provides coverage limits under the Residential Condominium Building Association Policy. Under its regular program, property owners can buy up to $250,000 per single-family dwelling or other residential building and up to $500,000 for a non-residential building. Coverage is available up to $100,000 for residential building contents and up to $500,000 for non-residential contents.

When To Buy Flood Insurance?

There is typically a 30-day waiting period for flood insurance to go into effect. Remember that hurricane season is flood season, so obtain your insurance well ahead of time.

Tips to Remember

1 – Everyone lives in a flood zone.

2 – Most homeowners’ policies don’t cover flood damage.

3 – No matter what your flood risk is, you can buy flood insurance if your community participates in the NFIP.

4 – Don’t wait for federal disaster assistance to help you.

5 – Keep your home compliant with federal regulations.

6 – There’s usually a 30-day waiting period before your policy takes effect.

7 – Buy a separate policy to protect your contents.

This article is not intended to be a substitute for FEMA’s comprehensive guidelines. For more information, visit

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Source by William G. Sykes

FAR Overhead Rate Calculation and FAR 31 Audits for Government Contracts

Which FAR obligations are put forward by government agencies in the contract?

In their contract Government can impose varied obligations as per established by FAR. Thus these agencies can be either demanding contract bids or can even insist upon the firm’s overhead rate in accordance with FAR. In addition, it can be the company’s schedule for audited overhead or parallel footnotes; which they will look out for.

What are the pre-requirements for FAR Overhead Rate Calculation?

Accounting software:

While numerous firms find government contracts desirable; what they oversee is the information they are obligated to produce during FAR audits. They even miss out on having a proper report of the contract and the cost that is involved. It is thus essential for a firm to own a submissive system to manage the accounting per se. It can be time-consuming and quite a struggle in the beginning but proves beneficial for a firm in long run. For a smooth accounting, the concerned accounting firm can cater to the services of software execution.

Job Costing System:

Job Costing System is enforced while working on a government contract so as to avoid the double billing which prevails in many cases. While auditing, it is required by the accounting system to acknowledge only the allowable government billing. To calculate that; recognizing the definite cost of employees is essential which is calculated according to the pay rate of each worker. While calculating this you can’t count the cost of working hours as per your hourly rate. Salaried employee’s hourly rate is thus calculated on the basis of the time put forth by him in the project. You can even have an overview on whether Job Costing System is functioning rightly because the job costing is reunited with the direct cost of general ledger only.

Identifying Direct and Indirect Costs:

For FAR Overhead Rate Calculation the firms are required to have befitting knowledge of the firm’s expenses. These expenses are to be differentiated as general overhead expenses and the once that are existing due to the government contracts.

Discarding Unallowable Costs:

FAR Overhead Rate Calculation demands a review of the expenses so as to divide the unallowable and allowable expenses and time to avoid unnecessary billing of the expenses.

Thus for Architectural/Engineering firms, Government contracts stand as befitting opportunity if they properly perceive the complexities that come along with it as per the directions of several Government entities. The complexities being the need of a CPA firm to handle the firm’s Overhead Rate Calculation and to have the audit in accordance with FAR.

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Source by Daryl Joyce

Real Estate Sales Safety Tips You Do not Want to Sell Without

Do you sell real estate? Have you ever stopped to think who it is you are placing into your car, or meeting at a property? There are unique dangers you face on a daily basis. I will bet that often times you work alone and meet your prospective buyers at a residential or commercial location to show off the listing. With just a few dollars and some time to prepare yourself you can greatly enhance your personal safety.

It is not above the criminal mind to lure a real estate sales person to a location for the sole purpose of committing a personal attack against them. Remember we teach our children to be wary of strangers yet you as a sales person think nothing about meeting someone by yourself with little or no means of protection. If fact I will go so far as to say that this is without a doubt the highest risk part of your job.

Much of this danger can be reduced greatly if you follow some simple and basic steps. First, make it a habit to meet your clients in your office. Use this as a get acquainted period where you can obtain proper identification from them. A copy of a driver's license or other official ID should be left in a conspicuous place in your office. It should be MANDATORY that you take ID from everyone you plan on showing a property to. This way should something terrible happen to you there will be a starting point for law enforcement. As a police officer, I used this technique by writing down the license number of every car I stopped before I approached. Again it is after the fact but if something was to go wrong the license plate or ID would be a place to begin. I have taken many reports of assault or other crimes where the victim let their guard down because the person who assaulted them "looked so nice" In many cases you can not tell who is planning to hurt you, so you need to be proactive.

The practice of driving potential buyers to a location is thankfully going away. Many of the larger real estate offices actually prohibit it, and for good reason. If your employer has put this policy in effect DO NOT Violate it. Once you place yourself in a car with a stranger there is no telling what they may do. You have absolutely no control of the situation once you let them in your vehicle. It is far better to lose a sale then lose your life.

When you arrive at the property you are showing do a cursory look around before you get out of your car. Are there strange or unknown vehicles at the location? Is anyone standing around that looks as if they do not fit the neighborhood? Do not get out of your car until you feel it is safe. When you meet up with the buyers usually mention that another agent is meeting you at the property. If they were planning to assault or rob you this may just make them think twice. Always try and know the layout of a home or business you are showing and keeping the potential customers in front of you. Not only can you watch what they do but it will also keep you from getting blocked into a corner or room without an exit.

Always keep your cell phone on and in an easily reachable pocket or on your belt. Make sure you have 911 programmed to a speed dial key so you can dial it with a single key press. Even if you can not speak the connection to a 911 center will remain open and in many cases your location can be determined within very close range. If you find yourself in a bad situation and have activated a call to 911 try and find a way to announce your location and other details about what is happening to you.

I recommend that any real estate person showing a property also carry a canister of pepper spray. There are many different types of personal defense sprays out there. Many cost less than $ 10.00 so for a minimal investment you can provide yourself with a device that will most definately give you peace of mind and the all important edge should you find yourself in a bad situation while out showing a property.

All too often a real estate agent is focused on making that all important sale. They forget that their job comes with some inherent dangers that place them in a category few other jobs do. Why risk your health and safety over a sale? Protect yourself first then make that sale. Pepper spray or even a personal alarm is a great way to be able to remain safe and complete the sales process without suffering great harm.

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Source by Chris Bruno

3 Tips to Help Get the IRS Off Your Back

The IRS is one of those monkeys that you simply don’t want on your back. These days, with money being tighter than ever for most businesses and families, paying some taxes ends up taking a back seat to more pressing financial matters, such as, oh, maybe putting food on the table and keeping a roof over your head.

With that in mind, I’d like to offer the 3 most basic tips possible for avoiding the worst of IRS collections actions if you find yourself owing back taxes. These tips are for those of you that already have an IRS problem, as obviously the best thing to do is avoid a problem in the first place. The worst things that the IRS can do include actions such as wage garnishments (they can take over 70% of each and every paycheck), bank account levies (where they actually pull money straight out of your accounts), and accounts receivable levies (where your customers must send payments to the IRS instead of to you).

In order to avoid these kinds of actions, pay careful attention to the following:

1). Response deadline on IRS notices. Whenever the IRS sends you a bill, letter, notice, or anything else, it typically requires some sort of response. Most letters will have a 21, 30, or 60 day deadline for responding — so be sure that you do. Even if you can’t pay the full amount that you owe, be sure to at least respond in some way. Many IRS notices include Appeals rights, and you have a time limit for filing an Appeal. These Appeals rights are very important, and they can buy you time for figuring out a solution to the situation.

2). File all missing returns. Most people don’t realize this, but the IRS is far more concerned about making sure people file their tax returns than they are making sure you pay the taxes you owe. This might sound counter-intuitive, especially given the aggressive nature of the IRS’ collections actions, but it really has a sound motive. If you don’t file your tax returns, the IRS has no idea how much to charge you. And we’re not just talking about the tax, either. All IRS penalties and interest are based on a percentage of how much you owe. In fact, the penalties for filing a late return are a significantly greater percentage of the amount owed than are the penalties for owing in the first place. In addition, if you have any missing tax returns, the IRS absolutely, positively will not work with you enter a payment plan or any other resolution on the tax debt you already owe.

3). Find a resolution. After you’re caught up on filing any missing tax returns, the best way to avoid really aggressive collections action (called “enforced collections”) by the IRS is to set up some sort of resolution. While this is an entire subject all of it’s own, here are some basic suggestions for what to do. If you are broke, have no significant assets, and very little disposable income, you might be a candidate for an Offer In Compromise, in which the IRS may agree to settle your entire tax liability, including penalties and interest, for only whatever money you can scrape together. This is the infamous “pennies on the dollar” you hear about in radio and TV commercials, but it’s actually a fairly complicated process, and most people do not qualify.

You may also consider requesting what is called “Currently Not Collectible” status, in which the IRS determines that you are financially incapable of paying a dime to them right now and stops collection activity for a year or longer (penalties and interest still accrue!). The most common option for resolving your tax debt is a monthly payment plan, called an Installment Agreement. If you owe less than $10,000 and can pay at least $25 per month, the IRS is required by law to accept your proposed payment terms. If you owe more than $10,000, there is often a negotiation process to prove that you can only pay what you say you can pay.

These are the three basic things you need to do in order to stay out of the hottest of hot water with the IRS. Of course, as with many legal and accounting matters, it is often best to obtain professional assistance. Working with a licensed tax professional can save you countless hours and much frustration, and if you can afford such assistance, it is wise to obtain it. However, if you are comfortable talking with bureaucrats, crunching numbers, and are otherwise on top of your personal and business finances, it is entirely possible to resolve your tax liabilities on your own.

In future articles, I will go into greater depth concerning specific tax resolution topics. In the mean time, remember to first and foremost respond in a timely manner to all IRS notices and file any missing returns in order to get back on the path to life without the IRS snooping around.

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Source by Jassen Bowman

When Back Pains Become Too Difficult to Handle

There are different types of back pains you can experience. Some back pains are temporary and could last for only a couple of hours, while others could last for days or even weeks then all of a sudden be gone only to feel it once again for another week or two. Back pains ought to be considered something serious because once you start feeling it and once it becomes more frequent, chances are the muscles, bones, joints and or nerves in your back are already malfunctioning or are no longer performing at their best. When this happens, not only will you feel severe pain, you can even be in for more trouble and possible side effects in the future.

Back pain when they become all too frequent can also cause osteoporosis. When you back is pained frequently, it is possible that you are experiencing bone less and could therefore experience fractures more easily or degradation of bones that could lead to shortage in height. Whatever you back pain could lead to in the future, of course should be prevented right at the first sign.

Back pains can occur regardless of age and gender. It is caused by several different factors both internally and externally. Because of this, the cause for your back pain can easily be detected and prevented likewise.

Consider yourself lucky if you are able to determine what causes your back pain and have it prevented immediately. Otherwise, consult your doctor for further studies and check up. Better yet, keep your lifestyle healthy and stay relaxed. Nothing works better than a healthy heart and a healthy mind.

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Source by Kam Malhi

Get the Right Tactical Gear – Factors to Consider

People in the police force face a lot of danger each day and this means that their gear and uniforms should be of the highest quality. The clothing and original swat boots they wear have to be comfortable and durable. These items do not come cheap therefore it is important to make sure they offer value for money. There are various factors to consider when you are making a choice when it comes to tactical gear.

Safety is one of the main factors that should be considered when purchasing tactical gear for the police. This is important because they have to protect themselves when they are going out to catch criminals. The original swat boots have to offer enough protection because they use them to kick down doors and walk through dangerous paths.

Durability is another factor to think about when making a choice. A majority of the gear is used on a daily basis therefore it has to last for a long time without wearing out. Look at the material that has been used to make the gear to make sure it is durable. Consider how often it is used and the kind of climate that it is going to be used in.

Functionality is also an important factor to keep in mind. If you are looking for gear for a particular purpose, you should make sure it is capable of handling the task.

The police also have to follow a certain dress code and this should be considered when you are making your choice. The type of uniform you choose should meet the standards that have been put in place by the force.

The gear and uniforms also need to be easy to maintain without requiring professional services.

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Source by Ali Raza