5 minutes read
If you’re willing to relocate, you can save quite a bit of money on taxes. By shopping around from state to state, you can save significant amounts on your bill for business or personal taxes. According to Entrepreneur, individuals can save 10% to 30% simply by moving. States and municipalities set widely different tax rates on personal income, gas, property and sales. Your business could enjoy major savings in a different state.
4 minutes read
As the tax filing deadline of April 15th has come and gone, many of us are giving big sighs of relief that it’s all over—at least for now. If you were lucky enough to get some money back this tax season, you’re probably wondering what to do with it. Shopping spree? Vacation? While those ideas certainly sound like fun, the truth is that you’ll be best off investing it. After all, it’s not found money—it was your money to begin with....
4 minutes read
With growth from the gaming industry leveling off in most locations, many Native American tribes are now considering a brand new source of income in states where marijuana has been legalized, either medically and recreationally. As more and more states–including New York–legalize marijuana in one form or another, Native Americans will have a huge advantage over other retailers in the business: Tribal earnings are not subject to...
4 minutes read
Childhood obesity is a complex issue, ad medical experts and social scientist have been in a gridlock about how to fix the problem for years. Now some economists argue that taxing junk foods could tip the scales in the right direction. One study by the University of North Carolina showed that a 10% price increase on soft drinks and pizza caused customers to consume far fewer calories from these items. A $1.00 price increase for soft drinks...
5 minutes read
Of all the sovereign nations on the planet, there are only two that tax their citizens’ income earned while living abroad: the United States and, perhaps surprisingly, China. Most countries ascribe to the philosophy that taxation should be primarily national rather than global, but both the United States and China require their citizens living abroad to pay domestic taxes on income earned worldwide. Since these two...
4 minutes read
Having a tax-efficient investment portfolio is a plus for many taxpayers. What makes this a desirable strategy when it comes to paying Uncle Sam and how can you make your investment portfolio even more tax efficient? There are plenty of ways to make more efficient investments and be financially savvy whether you’re investing on your own, with the help of new apps, products and services or with advice from a professional.
5 minutes read
Taxes may be one of the only certain things in life, but that doesn’t mean that filing them is easy. This is especially true if you are a young adult filing your first tax return. If you are single and earned an income greater than $10,000 in 2014, you are required to file a federal return. If it’s your first time filing taxes, you might be a little overwhelmed, but never fear. Here are 5 quick tips to help you file your taxes for the first time.
2 minutes read
The Deadline to file corporate tax returns (forms 1120, 1120A, and 1120S) is Monday March 16th, 2015. Most corporate returns are required to be filed electronically therefore they must be sent to the IRS before midnight on the 16th. If for some reason you are filing a paper corporate tax return, the post mark on the envelope must show 11:59pm or earlier in order to avoid late filing penalties.
4 minutes read
A lot of attention is being paid to Millennials, who, unlike their parents’ generation, are bucking the trend of graduating directly into lucrative jobs, settling down, buying a house and having 2.5 kids. Millennials, defined as young adults born between the early 1980s and early 2000s, are instead moving back in with their parents, struggling to find work and as a result not making big purchases like cars and homes, not getting married as young, and not...
4 minutes read
Taxes are never a fun process, and there can be a great deal of confusion about how much to pay or how to get the most money back. With tax season in full swing, many people are finding themselves lost in a flurry of financial advice that’s hitting them from all directions and it’s difficult to sort through all the noise. Here’s some advice from tax experts about what issues they consider the most important tax issues of 2015: