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
How to Reduce Tax
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. Photo by rawpixel on Unsplash The Qualified Business Income Deduction Was Introduced As we welcomed 2018, we also welcomed the Qualified … [Read more...] about 4 Tax Changes in 2018 and 2019 for Small Businesses
How Are Gambling Winnings Taxed? 3 Things You Need to Know
Source: Pexels.com Pixabay CC0 License 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 … [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
