When people think about high-net-worth individuals they envision people with a team of tax experts to suggest tax-saving strategies and guide them every step of the way. There’s a perception that such people can even dodge taxes entirely. The...
Read MoreNew Tax Pitfalls to Avoid
The tax laws inevitably change from one year to the next, and each year seems to have its own collection of unique hazards and pitfalls that taxpayers need to be aware of for that year. 2015 is no different, and taxpayers at all levels of income...
Read MorePros and Cons of Muni Bonds
Investing in a municipal bonds is a good way to preserve capital while generating gradual interest. They also have tax free benefits. Another way to look at investing in municipal bonds, often called munis, is that you will be helping build...
Read More7 Most Common Tax Mistakes
Tax season is quickly approaching and the filing deadline will be here before you know it. If you haven’t filed your taxes yet, it’s time for action. You should get started by getting your tax return together, organizing all of your...
Read More5 Smart Uses For Your Tax Refund
Even when we expect our tax returns to bring a refund, we all dread preparing for the tax deadline. The arcane tax forms, instructions few can decipher and our increasingly complex financial situations make each year’s return seem more...
Read MoreCorporate Tax Rates
The corporate tax rate is 20%. Generally, two types of taxes are payable by corporate entities. The corporate income tax rate is 20% and is applied to the taxable income. Whereas the business receipt tax(ranging from 2% to 10%) is applied to the...
Read MoreWhat To Do If You Lost Your W-2
Steps to Take If You’ve Lost Your W-2 For most tax filers, the W-2 is a critical piece of information that validates income earned throughout the tax year. The form, also known as the Wage and Tax Statement, is one that your employer sends you...
Read MoreBusiness Tax Deductions
Checklist of Tax Deductions for Small Business 1. Employees’ Pay. You can deduct the pay you give your employees as long as the pay is in cash, property or services. 2. Inventory (Cost of Goods Sold). Businesses that...
Read MoreTop 4 Ways to Invest Tax Free
So you’re ready to start investing for your future, but you’re not sure how it might affect your tax bill. Believe it or not, there are a few clever ways to invest without having Uncle Sam reach even deeper into your pockets. They’re called...
Read More10 Sources Of Nontaxable Income
The Internal Revenue Service defines income as any money, property or services you receive – and Uncle Sam wants a bite of practically everything. The government says that all types of income are taxable unless specifically excluded by law...
Read MoreFilling Out The W-9 Form
If you work as a freelancer or independent contractor, most of your clients should ask you to complete IRS form W-9, Request for Taxpayer Identification Number and Certification. This form helps businesses get key information from their vendors...
Read MoreTop 10 Life Insurance Myths
Life insurance is not a simple product. Even term life policies have many elements that must be considered carefully in order to arrive at the proper type and amount of coverage. But the technical aspects of life insurance are far less difficult...
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