In the tricky world of tax codes, there are lots of definitions to wrangle and forms to fill out. One of the most common face-offs is between W-2 workers and those on 1099 arrangements. The question, then, is how these distinct categories differ from one another and how this is...
Payroll accounting is a task that most entrepreneurs wish to shy away from. Most business owners, prefer to outsource their payroll obligations to an expert. This is the ideal scenario, however, you should understand the basics of payroll accounting yourself. Once you learn how to do payroll, you'll know how to...
Property taxes, taxes paid on personal property, such as real estate and homes, are another form of taxation. They are also crucial sources of income for states and local governments across the United States of America. Property taxes seem to be one of the most-hated forms of taxation in the...
In 2018, about 14 million Americans found themselves owing back taxes to the IRS. There are a number of ways that you can handle tax debt. Should you find yourself in a position where you can’t afford to pay your tax debt, you will need outside help. You could turn to...
The US government pulls in about $4.5 trillion a year in income and payroll taxes. Whilst that may be great for funding things like schools and roads, paying taxes can really hit small businesses where it hurts. The good news is that there are a lot of deductions you can make...
As a business owner, do you know how to make your assets work for you? While running a business you will inevitably have expenses by buying products and assets to keep your business operational. As an owner, you may be able to claim those expenses on your taxes. Capital allowances...
Fraud costs businesses and individuals across the world $5.127 trillion a year. There are many examples of fraud but a common one are fake pay stubs. Whether you’re a tenant or an employer, know what to look out for so you know these pay stubs are legitimate. Don’t know how to...
About 40% of all small businesses pay close to $845 in tax penalties and fees for making mistakes on their taxes. Many of these mistakes are avoidable, but small business owners choose to do taxes themselves. If you’re in this boat, it’s time to hire an accountant. They’re experts in...
Taxation laws and requirements vary dramatically by country, and this variation has created the framework for tax havens. A tax haven is a country that provides substantial advantages to taxpayers because of its tax system. A tax haven's system may include a lower tax rate, more lenient...
Several members of the billionaire Sackler family have recently come under fire in the United States. The family has already been under fire due to its ownership of Purdue Pharma, the company that created and marketed the infamous opioid drug, Oxycontin. Now they find themselves the target...