Top Finance And Taxation Services in Sacramento, CA 95814
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Engilis Payne Kmetz & Daley CPA's
By BillMarker April 03, 2014
This accounting firm produces misleading and fraudulent financial statements that they use to defraud investors. Do not trust any financial information that this firm provides. ...read more
Aero-tax Compliance Experts, A Division of Associated Sales Tax Consultants, Inc.
By Anonymous June 04, 2009
Very professional staff and they did not use scare tactics as other firms did. Their fee is of the lowest I found! Very helpfull advice. I recommend Aero-tax to anyone seeking sales and use tax help with their aircraft! ...read more
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Can Bad Credit Be Deleted?
Can Bad Credit be Deleted?Yes, it can. Despite the fervent proclamations of bureaucrats and credit bureaus everywhere, a simple fact remains: negative credit listings are deleted from peoples' credit reports by the thousands each and every day.A few years ago, an attorney fromLexington Law.visited with a regulatory agency for a casual conversation with two agents. The Agency's office, as a matter of course, believed the credit bureaus' claim that bad credit couldn't be deleted. The visiting Lexington attorney asked, "How many negative listings would you have to see deleted from consumer credit reports before you would believe that bad credit can be deleted: ten? fifty? a hundred? one thousand?" The agents responded with only blank stares."How about 50,000 deleted listings, would that convince you?" continued the Lexington attorney. From his briefcase he pulled a stack of papers six inches high."In these pages, we have listed the permanent deletion of over50,000.listings from our clients' files in the last two years alone," he explained. The agents pulled the stack across the conference table and began to pick through the pages, taking in the massive list."But have you deleted any bankruptcies?" shot back one of the agents, "we know that bankruptcies can't be deleted." The Lexington attorney leaned across the table and ran his finger down the first page."There's one deleted bankruptcy... and, there's another,... and another,... and another. Should I go on?" asked the Lexington attorney.The agents sat back in their chairs. "You know," began the junior agent, "I have this one listing on my credit report that simply must belong to somebody else..."How is credit repair possible?The Fair Credit Reporting Act (FCRA) allows a consumer to challenge the information on his credit report on the basis of "completeness and accuracy." When a consumer files a dispute, the credit bureaus must contact the source of the credit information (the creditor) and confirm that the information is accurate, verifiable, and not obsolete. In some circumstances, the credit bureau is required to go beyond a simple verification of the creditor's own computer record. If, within 30 days, the credit bureau has not received verification from the creditor, then the credit bureau must promptly delete the credit listing.Learn More. ...read more
By Consumer Credit Counseling in California June 13, 2014
Read The Latest Newsletter from Aero-tax Compliance Experts, LLC
We've just published a new edition of our newsletter! You can check it out on our website and get the latest information from Aero-tax Compliance Experts, LLC. Let us know what you think! Read It Now Here ...read more
By Aero-tax Compliance Experts, A Division of Associated Sales Tax Consultants, Inc. July 16, 2009
Delivery Outside CA Begins the “Use Tax” Exemption Process
Often it is believed that simply purchasing an aircraft outside of California eliminates the sales and use tax liability. There is a half truth here; properly purchasing an aircraft outside of California does eliminate the sales tax obligation, however, it does not eliminate the use tax. Many people do not know how, or where to begin when going through the California sales and use tax exemption process. The simple answer is that you must take delivery of the aircraft outside of California. However, there is more detail behind the simple answer. For example, the contract of sale (purchase agreement) must specifically reference the location where the aircraft will be delivered to the purchaser outside the state. As standard practice, we advise that the delivery occur in Oregon. Oregon is the closest, non-sales tax state in proximity to California that will not have a jurisdictional claim for sales or use taxes simply because the sale occurs there. Therefore, Oregon is often times the most convenient location. However, it may not be convenient in every situation. There are a total of five non-sales tax states: Oregon, Alaska, Montana, New Hampshire, and Delaware. Many other states have guidelines for non-resident purchasers taking delivery within their state without fearing tax repercussions. Be sure you know the rules.To properly evidence the delivery outside of California, you must maintain a clear separation between the seller and the buyer. To accomplish this, the seller will be solely responsible for transporting the aircraft to the out of state delivery location, and the buyer will be solely responsible for getting to the delivery location independent of the aircraft they are purchasing. It is recommended that the buyer travel via commercial airlines to generate and obtain confirmation of the travel to the out of state delivery location. In addition, the buyer must not exercise any right or control over the aircraft until after it is delivered (test flights are ok, but insuring the property prior to delivery could pose a problem).Once the seller and buyer have converged upon the delivery location, it is now time to execute the paperwork. They will execute the FAA Bill of Sale, FAA Registration, any delivery receipts prepared by the seller and a proper delivery document for California sales and use tax purposes. This is referred to by many in the industry as a "6247 statement." Beware, some tax representatives will charge you for this form. This form when properly and completely executed and notarized will evidence the out of state delivery. The insurance on the aircraft can become effective as of this day.Upon completion of the delivery, it is recommended that you immediately purchase fuel for the aircraft, using a credit card. Doing so will generate a receipt that will contain the date, location, tail number, and the buyers signature. Keep copies of all your documentation; you will need it to support your exemption.The out of state delivery is only a small part of the exemption process. There are many factors which come into play when the Board of Equalization is determining where the "place of sale" was. They will look at the contract of sale, insurance binder, evidence of delivery, evidence how the parties converged upon the delivery location, FAA Bill of Sale, FAA Registration, and other pertinent information to develop their conclusion as to where the delivery occurred. If there are conflicting dates, locations, or details, they may conclude that the delivery occurred somewhere other than where you intended, and classify your delivery as "ceremonial." This means your delivery may jeopardize the availability of the sales and use tax exemption from the onset. Unless otherwise expressly indicated, any advice contained herein was not written and is not intended to be used, and cannot be used, for the purpose of avoiding any sales or use tax, interest or penalty that may be imposed. To be certain the exemption requirements are accurate for your specific situation you may contact us at your convenience. This article was written by Joe Micallef, CEO of Aero-tax Compliance Experts, LLC. If you have any questions regarding this article, other sales and use tax issues, or want to know if you qualify for an exemption contact our tax experts at (916) 647-6407 or visit us on the web atwww.AERO-TAX.com. ...read more
By Aero-tax Compliance Experts, A Division of Associated Sales Tax Consultants, Inc. June 04, 2009
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