New Tax Problems For Lindsay Lohan

Tax Problems For Lindsay Lohan

Many people make wise choices when it comes to filing their taxes, and this annual activity may happen smoothly and without incident. The popularity of Turbo Tax 2013 may help taxpayers benefit more than ever as they prepare to file their income tax returns for 2012. Lindsay Lohan would do well to heed the advice that many individuals follow each tax season, especially since she faces new tax issues about not paying her 2011 taxes. Most people who may owe back taxes are not lucky enough to have a famous and wealthy friend step in on their behalf, but this is exactly what happened for Lindsay Lohan when she received a six-figure check that allowed her to pay off her tax debt for 2009. This may be one of many financial entanglements that Lindsay Lohan may face, but her problems may serve as an example of what not to do and how Turbo Tax 2013 and trusted tax advice may benefit anyone who is dedicated to doing the right thing with their finances.

Over (Lindsay Lohan song) (Photo credit: Wikipedia)

Anyone may hope to keep as much of their earnings as possible each year, and working with tax attorneys, CPAs, or other tax experts associated with Turbo Tax 2013 may help you maximize your refund and still stay in compliance with the Internal Revenue Service. What may separate Lindsay Lohan from other taxpayers may be her apparent cavalier attitude towards legitimate job offers and earnings. Having her bank accounts seized by the IRS may not have had an impact on her behavior up to this point, but you may be the one who feels like a superstar at tax time if you avoid the Lindsay Lohan approach to tax payment.

Wealthy California Residents Upset About Higher Tax Rates

Residents Upset About Higher Tax Rates

Many business owners are seriously considering leaving “The Golden State” for good due to excessively high taxes.

From small business owners in the bustling town of San Diego to the top vintners in the beautiful Napa Valley, many high-income Californians are preparing to pack their bags for good.

PGA Tour commissioner Tim Finchem and Phil Mic...
PGA Tour commissioner Tim Finchem and Phil Mickelson at the awards ceremony for The Players Championship in 2007, which Mickelson had just won. (Photo credit: Wikipedia)

High-ranking golfer Phil Mickelson is speaking out about his feelings on this issue. He feels that he is being forced to make some tough decisions and has admitted that he has considered relocating to a state that doesn’t make top-earning residents pay such high taxes. Although Mickelson was vocal about his stance on high state taxes, he later regretted speaking so openly.

Peter Farrell, a medical-device manufacturer in San Diego, has approximately 600 workers and has considered moving his offices to a different state in order to save on income tax. Texas has become an attractive option for many business owners, primarily because it is a no-income-tax state. Income tax in California is currently 13.3%, which is too high, according to many residents.

Many believe that Proposition 30 is the cause of these tax laws that are seemingly unfair to those with higher incomes. This tax-increase proposal was voted into law by California’s residents, resulting in a huge net spend for the state. Households earning $250,000 or more each year already pay up to 62% in state taxes, and a further increase in taxes is causing residents to bail. In fact, many residents have already left the state, according to Fox News. These residents chose to remain anonymous due to their fear of being audited by the IRS, but all of them expressed their frustrations with California’s tax laws.

Residents are also trying to figure out how to legally relocate without completely cutting ties with California State, according to tax analysts. These experts believe that many residents will figure out how to do this and act on it by the year 2014.