Are Your Gifts Taxable? Unfortunately, Yes!
If you have ever offered or received a gift, you are bound by certain tax norms. Yes, the IRS imposes a tax on gifts. The Gift Tax was introduced to prevent taxpayers from sidestepping over Estate Tax by gifting all their money and property to family or relatives before their death. The IRS defines a gift as:
“Any transfer to an [...]
Know About The Tax Deductible Business-Related Travel Expenses!
Self-employed individuals or business owners often require to travel for work-related issues. And when you are required to travel frequently for the benefit of your [...]
Stock Market Guide for First Time Investors
Are you a first-time investor? These tips will show you how to approach the stock market!
Although the stock market may seem like a good place to multiply your [...]
IRS can revoke your passport without warning!
Can The IRS Revoke Your Passport Without Notifying You? Yes, It Can!
If you’re planning to apply for a passport for that much-awaited foreign trip, you better [...]
New Tax Reforms to lead to a shock in April 2019!
If You Aren’t Alert And Active In Planning Your Taxes From Now, You Might Be In For A Massive Shock In April 2019!
Ever since the Tax Cuts and Jobs [...]
Having Trouble Accomplishing Your Financial Resolutions? This Practical Guide Is What You Need!
Ever wondered why new year resolutions never work? Because without a plan, they are merely empty resolutions. And when it comes to financial resolutions and goals, [...]
How will new tax reforms impact your W-4 withholding?
The Trump Tax Reform has brought about a major change in the taxation laws in the US. While the federal tax reform has doubled the standard deduction rate, increased the [...]
Are You A Social Media Influencer? Here’s All You Need To Know About Tax Filing!
If there’s one thing that everyone around the world is doing, it is making their presence known on social media. In fact, the social media network has become [...]
Tax Deductions for Business Use of Vehicles
If you are a business owner, the Tax Cuts and Jobs Act has brought about a welcome news for you! The Act allows small business owners to deduct various costs associated with [...]
Here’s How Veterans Can Claim Their Tax Refunds!
The Combat-Injured Veterans Tax Fairness Act of 2016 has brought good news for veterans as they can now claim tax refund on the money that they paid as disability [...]
Did You Know That The New Tax Reform Allows You To Write Off Business-Related Equipment Deductions?
While the Trump Tax Reform eliminates a lot of deductions (yes, you can no longer claim them), but don’t be disheartened yet. It’s not entirely bad - the [...]