How the Little Things Can Add Up to Big Tax Savings The last few weeks I've been sharing how to create habits that enable you to use your taxes to build your wealth. Here are the habits I have shared so far:Habit #1: Avoiding tax advice that is for the general populationHabit #2: View every day as an opportunity to reduce your taxesHabit #3: Don't put off until tomorrow what you can do todayLast week I shared that those who stay organized...more
Cutting Your Property Taxes in 10 Steps What are Property Taxes?Taxes an individual pays are calculated by multiplying the estimated value of the property and subtracting any applicable exemptions.Property taxes are surging in price and so studies reveal that they jumped more than 35% in five years.The property is assessed by determining property costs in a given area. The property is assessed by analyzing: the current price range of...more
Service Tax is a type of oblique tax forced on specific services which is called taxable services. These service taxes can't be charged on any type of services that aren't incorporated within the checklist of taxable services. In order to enlist new services, over the past few years, service tax been extended a lot.The aim behind charging service tax is to lower the quantity of depth of taxation on business and commerce devoid of forcing the federal government to compromise on the revenue needs. The intention of the federal government is to slowly amplify the record of taxable services until the time most services come within the range of service tax. For the goal of charging service tax, the value of any chargeable service needs to be the entire quantity charged by the service provider.In Malaysia, service tax applies to some particular set of goods and services that embody food, drinks, tobacco, provision of rooms for lodging and premises for conferences, conventions, provision of accommodation, cultural and trend shows; health services, and meals by private hospitals.In Malaysia, the taxation services firm include professional and consultancy services provided by accountants,...more
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So, April 15th is closing in fast... and you haven't, or can't, complete your tax forms. It happens to some of us, and it's understandable. Filing for a tax extension can be your answer, but don't think it gets you out of paying. The extension does only cover the paperwork. You still need to pay what you owe by April 15th!Here's a detailed step-by-step to file for your extension and ensure that you've got yourself covered.1. You need to know if you're going to owe more taxes this year, so figure that out first. You can file the extension, but without paying the taxes owed, it's going to do you no good!2. Pick up a copy of Form 4868. You can usually print one off online, or pick it up at your local library.3. Fill in your name and SSN on the form. If you're filing jointly, put their information on there as well!4. Line 4 is where your calculated tax due from your taxable income goes. The IRS doesn't appreciate a frivolous estimate, so make sure you really do your homework with this one.5. On line 5, you're going to have to figure out how much federal tax you had withheld from your paychecks, and put that amount there, along with any other amount you paid in estimated taxes for the...more
How to Pay Affiliates and Meet Minimum IRS Tax Records As an online business owner, you will need to pay your affiliates. When you pay affiliates, it comes with increased tax responsibility and of course, paperwork. One good place to start is...more
Authentic NFL Jerseys Like any other collectible, sports jerseys have separate markets. One for the original jerseys and another for its replicas. Since these markets are fused together, people find it difficult to find out which jersey is...more
Can A Tax Accountant Help You? You should look into hiring a tax accountant if any of the following points apply to you...You lack knowledge of tax law basics - If you want to work on your own tax returns, you have to know about expense...more
Don't Let Tax Catch You Off-Guard It is surprisingly common for individuals or businesses to get to end of the tax year and find themselves faced with a tax bill that they simply can't pay. Many times it is not even the company's fault,...more
Benefits of Washington Foreclosures and State Tax Lien Laws The Foreclosure wave has left many properties vacant and ready to sell in the State of Washington. Washington foreclosures are available for a steal and therefore present great...more
How To Save Income Tax In India? As per the government law, it is mandatory for every citizen to pay the income tax. Tax assessment takes place every year in the month of March. Government has given so many benefits to the taxpayers. Tax...more