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
How to Reduce Tax
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
How Can Payroll Services Help Small Businesses Save Money?
As essential as it is to your business, managing payroll can quickly grow time-consuming. Regardless of how many workers you employ, keeping track of employee information is a weighty responsibility. Not to mention, the time spent managing payroll and keeping it IRS compliant can easily consume a business’s budget. While some small businesses still handle payroll manually, … [Read more...] about How Can Payroll Services Help Small Businesses Save Money?
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
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
How to Save on Tax as a Home Business Owner in Australia
Saving on tax means big business savings when you work from home. If you’re interested in working out deductions and doing tax yourself, rather than going to an accountant or tax expert, or you simply want to get a better idea of the deductions you can claim when you work from home, there are numerous ways to save on tax in Australia when you work in a home-based … [Read more...] about How to Save on Tax as a Home Business Owner in Australia
5 Tips for Small Businesses During Tax Season
Tax season can be a headache for small business owners. No one will ever contradict that statement as you try to comply with different state and federal tax policies through a very complicated tax system. Small business owners can be very organized, maintain good books and even get the best accounting software available but still, that isn't just enough. Below are some … [Read more...] about 5 Tips for Small Businesses During Tax Season
