The pandemic year brought uncertainties and unprecedented challenges for individuals and businesses. As it draws to a close, you need to do a little more with the year-end tax planning. The objective will be the same as always, to cut down the obligations to the minimum, but you will probably want to invest extra effort to save this year. Here are some smart measures you can … [Read more...] about Smart Measures to Get A Step Ahead with Year-End Tax Planning
Tax Management
Top Expert Tips to Better Manage Your Taxes
Keeping track of your expenses is one definite way to help you save money for tax payments. Likewise, it’s very important that you keep receipts and other documentation for each expenditure you make as this will help you identify sources of income and keep track of your expenses. The best part of it all is that this practice will help you track down months-old records so you … [Read more...] about Top Expert Tips to Better Manage Your Taxes
Why Luxembourg is an Attractive Hub for European Investors
At first glance, it appears that Luxembourg is a small and relatively obscure country with an estimated population of just 625,815. However, it’s actually one of the wealthiest nations in the world on a per capita basis, with a total GDP per capita of $96,269. Not only is Luxembourg a deceptively wealthy nation, but it’s also widely considered to be a tax haven of choice for … [Read more...] about Why Luxembourg is an Attractive Hub for European Investors
What to Know about Federal Income Tax
Federal income tax is a tax imposed by the US Internal Revenue Service (IRS) on yearly earnings of corporations, trusts, individuals as well as other legal bodies. The taxes are placed on all kinds of earnings that form a taxpayer’s taxable income, like their capital gains or employment earnings. People don’t generally think much about taxes until the tax season arrives. It … [Read more...] about What to Know about Federal Income Tax
How to Prepare for the Upcoming Tax Season
Nobody wants to spend time out of their day figuring out taxes. It’s not that fun determining how much of your hard-earned money is going to the government, after all. However, there are ways to make tax season less of an emotional drain and hassle. Armed with the right information, you can face tax season with peace-of-mind and calm. We can’t guarantee you’ll ever be “happy” … [Read more...] about How to Prepare for the Upcoming Tax Season
Lowest Corporate Taxes in the World
Among the countries with the lowest corporate taxes in the world, we can mention a number of Eastern European countries as well as the countries that are perceived as tax havens because they have a 0% corporate income tax (Anguilla, Bahamas, the Cayman Islands and others). At the other end of the spectrum, we can mention the United Arab Emirates, Brazil or Japan. Below, … [Read more...] about Lowest Corporate Taxes in the World
4 Tax Changes in 2018 and 2019 for Small Businesses
The tax landscape is ever-evolving for business owners. As a small business owner, you're responsible for keeping pace with the changes and how they impact you. These are the key tax changes for 2018 and 2019 that you need to know. The Qualified Business Income Deduction Was Introduced As we welcomed 2018, we also welcomed the Qualified Business Income Deduction. Sole … [Read more...] about 4 Tax Changes in 2018 and 2019 for Small Businesses
The Need-To-Know Stamp Duty Basics
If you work in the moving industry, are planning to buy a new house or just plain read the newspapers, you’ll be all too familiar with stamp duty at the minute. As a removals comparison company, we over at buzzmove like to keep on top of industry news. For that reason, we’ve read more than we care to admit about the recent changes to stamp duty. However, this has given us … [Read more...] about The Need-To-Know Stamp Duty Basics
How Are Gambling Winnings Taxed? 3 Things You Need to Know
Believe it or not, gambling winnings in the United States are taxable. In an ironic twist, winners may become losers if they fail to pay Uncle Sam. Why? Because gambling income is 100% taxable according to United States tax law. According to the IRS, with topic #419 (gambling income and losses), ‘… Gambling winnings are fully taxable and you must report the income on your … [Read more...] about How Are Gambling Winnings Taxed? 3 Things You Need to Know
The Dangerous Consequences of Ignoring Your Taxes
There are many things in life you can ignore. Taxes simply aren't one of them. If you fail to file or pay owed taxes, you can expect to experience consequences, some of which might be pretty serious. Understanding the Difference Between Not Filing and Not Paying There are more than a few people each year who blow off their taxes and don't file. Either they think it won't … [Read more...] about The Dangerous Consequences of Ignoring Your Taxes
