As economic systems evolve and taxation become more complicated, many business owners seek out tax consultancy services. But is hiring a tax consultant for your business necessary? Budgeting for consultancy services might seem like an extra expense, but you might want to rethink that. If you wonder whether you should hire a tax consultant, this piece will walk you thr
- While issues such as unemployment aid and stimulus checks routinely make front page news during the COVID-19 pandemic, many of the economic relief packages that have passed into law over the last year have also contained either permanent or temporary changes to tax laws. While these changes are designed to provide individuals and companies with much-needed tax relief
- Filing your taxes as a self-employed person can be tricky, especially if you're new to it. Misfiling your taxes can lead to unwanted consequences, such as audits, insufficient payment, overpayment, and more. If you're a sole proprietor, you can protect yourself by hiring a professional to prepare your taxes. Here are four reasons to hire a tax professional to help you
- Few Americans like filing their income taxes. And so as you approach retirement, you may want to know if you will get a reprieve from this annual obligation as you age. The answer, though, isn't as simple as yes or no. Here's what any senior citizen needs to know about taxes as they get older. Taxes Aren't Based on Age The bad news for retirees is that filing and payi
- Most Americans know that income they earn from a business or in an employee paycheck must be reported to the IRS as potentially taxable income. But what about your personal assets? If you sell something of your own and make a profit, is this taxable on your income tax return? On the other hand, can a loss be used to reduce taxable income? Here's what you need to know