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Most of the people enjoy doing their own business. They love the freedom and flexibility that they get because of being entrepreneur. A new business owner happily starts of with all the management practices of the business; he hires employees, set up a website, design business cards etc. Most of the new business owners [...]
Tax returns are affected by many things. One of them is the number of family members that are present in your family. Tax returns are affected by the arrival of a new baby, by marriage and by the death of a family member. Following are the details of the two major life events [...]
A person undergoes many changes in life. It is important that an individual is aware of the impact of these changes on the taxes. Getting married, job changes, enrolling to a degree, having a child all aspects of your life have an impact on your tax returns. Following are two of the events [...]
The biggest advantage of being self employed is the freedom of choice and flexibility. Although at one side owning your own business has a lot of advantages, but there are many added responsibilities too. As a self-employed individual, you do not have employer withholding taxes from your paycheck instead; you must handle these obligations on your own. [...]
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.
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 [...]
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. [...]
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% [...]
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 [...]
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 [...]
