US Tax

Tax Credit and Tax Deduction – what’s the difference?

How many times have you heard the terms “tax credit” and “tax deduction” being used while wondering if they mean the same thing? Well, let us clear [...]

Super bowl fans, here are some football tax tips for you!

It’s that time of the year again - the season for bragging rights, the season to watch your old heroes test their mettle while new ones are born. Yes, we [...]

IRS recalls half of the employees this tax season

With the US Government going through a shutdown, a lot of government workers have been furloughed. This includes the IRS too, which lost its funding for the [...]

The most important day of January 2019!

With the Government shut down for an unprecedented duration, it is no surprise that everyone is feeling anxious about filing their tax returns and claiming [...]

New Tax Implications for the New Year!

With January almost gone, the new year vibes seem to be dying down. However, the new tax provisions might still be a little unclear to a lot of people. [...]

Stringent Norms and Strict Monitoring on Transactions by Income Tax Department

  In its attempts to discourage the use of physical money, and monitor illegal transactions to curb corruption, the Income Tax Department has [...]

A Reminder of Estimated Tax Deadline for the Self-Employed

Tax Deadlines for Self-Employed Approaching Hurry up if you are self-employed! Your quarterly taxes for the final quarter of 2018 are due on January 15th. [...]

How Are C Corps Taxed? Here’s Everything You Need To Know!

When it comes to taxation C corps, the first thing that you need to know is that they are subject to double taxation - while the profits earned by C corps are [...]

The IRS bewares the offshore account holders!

Hear, Hear, Offshore Account Holders! The IRS Is Coming For You! If you hold an offshore account, you must be aware of the strict watch that the IRS keeps [...]

IRS Changes Backup Withholding Tax Rate to 24%

Good News For Small Businesses! The IRS Has Announced A Reduction In The Backup Withholding Rate To 24%! Yes, you heard that right! In keeping with the [...]