The Advantages of Tax Exemption
Tax exemption is one thing that most of us want to have on our hard earned money; luckily there are a few conditions that can lead to tax exemptions as given below.
Impact of Sales Tax on Local Economies
Sales Tax is collected by the state and is utilized for the improvement of the infrastructure and public organizations. Online sellers are enjoying great profit margins by avoiding sales tax payments. There is no positive impact of retailing on the economy of the community because these online stores do not give any taxes and keep all [...]
Life insurance tax facts you need to know
Fact No. 1: The premium that you pay on your personal life insurance is your personal expense and cannot be deducted. IRS regulations clearly state: “premiums paid for life insurance by the insured are not deductible.” It does not matter that the premium was paid by the insured by some other person. [...]
Sales Tax; The unfair advantage that the online retailers are enjoying
The benefits of online retailing vs. brick-and-mortar store We have always known that a physical store presence has a greater positive impact on the consumer than an online store. But the case is totally different if we look at it from the Tax lens. According to the rule the retailers are suppose to collect 10% [...]
Impact of Sales Tax on Consumer
What is a Sales Tax? In simple terms Sales tax is the tax levied on the sales. If you live in a state there is no legal way through which you can avoid sales tax. What’s the Law? The consumer pays a large share of sales tax, which is incorporated in the bills [...]
The 4 Benefits of Filing Taxes Early
Tax payment is a bitter truth of every American’s life. No matter how much you want to run away from this responsibility, you still have to fulfill the Tax requirements. The month of April only rings bells in the ears as it’s the deadline time for filing your tax returns. Many people delay the [...]
3 Smart Ways to prevent Identity Theft
Identity theft is the biggest ongoing crime these days. You need to carry out all precautionary measures to prevent identity theft from happening to yourself and your organization. Hackers and criminals have the ability to steal your data. It is really important that you carry out measures to protect your personal information. You [...]
Ways to safeguard your electronic information inorder to avoid identity theft
One of the major ways to avoid identity theft is to keep your electronic information safe. Fraudsters try to steal your personal information by hacking your system or accessing your information from a public or official computer. They use this information for their personal benefits. Here are a few ways to avoid identity theft. How [...]
Business identity theft
What is Business Identity Theft? Business identity theft is a new avenue in corporate crime. The identity thief uses your business identity to establish lines of credit with banks or retailers. The thief will use your credit lines for his personal advantage such as: Purchasing home improvement items Commercial electronics Gift cards Any other [...]
4 most important Tax issues that a small business faces
Understanding business taxes can be difficult. The tax system applied by IRS is complex and often unfair. Some tax reforms have a huge negative effect on the small businesses. Let us discuss a few small business tax issues: