Every economy relies on a tax-based revenue structure, in which residents are required to pay taxes to the government as a source of income. By accepting these funds, the government provides the infrastructure that the general public uses. If we dig deep into the meaning and applications of the word […]
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How to Choose a Tax Structure for Your Business
When it comes to running a business, there are a variety of tax implications. You can choose from standard or tax-friendly businesses. However, this can also depend on the type of business you have and your personal preferences. Tax structures are different ways of organizing your business. They determine the […]
6 Legal Secrets to Minimizing Your Taxes
When we are young, we don’t pay nearly enough attention to the ‘grownup’ things such as social security, health insurance, and taxes. It’s only when we become adults that we realize that taxes are complicated but unavoidable, and we find ourselves trapped and overwhelmed. If you don’t want to get […]
20 Mistakes to Avoid in Small Business Tax Preparation
When owning a small business, it’s really important to understand the small business tax preparation process. If you make mistakes, you may end up incurring penalties, overpaying taxes and cause other errors. We talked to the experts and asked them to share some of the most common mistakes small business […]
Why Is 80C The Best Tax Saving Instrument?
Let us begin with stressing on the importance of personal financial planning in the modern world. There are no guarantees in market share, output, and growth, especially for those committed to the keeping some of their financial eggs in the market. This is why having a sound financial plan could […]
Health Insurance: Ways to Claim Tax Benefits in India
A health insurance is a necessity for each and every individual and has been made compulsory at work in the case of many companies. The first step for any individual when planning for anything is to ensure that there is enough for health insurance. The premium that is paid for […]
Understanding The Tax Situation Faced By Modern Small Businesses [Infographic]
Running a small business can be very rewarding. As a business owner, you’ll be able to meet people, help others, and make a substantial amount of money. Nevertheless, being a business owner is not all fun and games. You’ll need to jump through numerous hoops to ensure that your business […]
Income Tax Preparation Checklist: 10 Ways to Make Getting Your Refund Easier
Being organized throughout the year can help ensure a successful tax return experience. Having a structured system will make it easier for your preparer and ensure that you reap all your tax benefits. Using this checklist will help you have your information ready for a smooth experience and have your […]
When Negligence Becomes a Crime: Tax Evasion and Fraud
Most Americans are aware that cheating on their taxes is a crime, and yet many of them – 17 percent of all taxpayers, according to the IRS – are not complying with tax laws, in some form or another. Together, those who are hiding money and assets or falsify documents […]
6 Ways to Prepare for Tax Obligation
What do they say about tax? Well, Benjamin Franklin once said, “The only things certain in life are death and taxes.” Annually, tax payment has been a personal and business obligation among employees, employers and business owners. So, people need to be aware of the deadline for tax payment and […]
Leaving Tax Money on the Table
If you enjoy the occasional poker game like I do, you would not think about leaving your money on the table when you leave the game. In my tax preparation experience, I have noticed that many people do this every year. Your tax software will assist you to ensure that you […]
Learn How to Maximize Your Tax Savings by Investing Under Section 80D
Your friend’s father just had his knee replacement surgery and your friend has burnt a hole in his pocket paying the hospital bills. The bills have a natural tendency to make anyone or rather everyone worried. The sky rocketing medical bills seem to be increasing exponentially with time. The Income […]