The United Arab Emirates (UAE) is a small yet incredibly prosperous country in the Middle East. It has experienced tremendous growth over the past decade, and much of its success can be attributed to wise economic policies such as corporate taxes. Recently, the government released a new public consultation...
A tax lien is a law imposed on a property, and the government uses it to secure payment of taxes. It is the easiest way to maintain discipline among citizens and make them responsible. Many people question if one can purchase a house with a tax lien. Amazingly if the...
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...
It can be confusing for many Americans to work out what forms they need to fill out when filing their taxes, from the 1040s to 1099s. The forms can be confusing for a first timer with a code that’s over 5,000 pages long. Fortunately, most filers only need to...
The first step to setting up a successful business is having an excellent business plan. This document provides information on your product or service idea, your start-up capital, structure, projections, and more. Students looking to achieve success have to conduct extensive research on every factor affecting their enterprise, and...
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 an internal body, IRS always makes decisions, either positive or negative. IRS depends on every piece of information to offer in compromise. Suppose you have an offer in compromise that doesn't belong to you. The IRS will automatically deny you an offer in compromise, but there are several other...
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 or hire an outsourced accountant to assist. Once you learn...
The Automatic Exchange Of Information is an agreement among governments around the world to share non-resident financial account information to reduce the possibility and ability of nefarious people to engage in tax evasion. The Automatic Exchange Of Information requires banking officials to send a foreign account...
In case you owe taxes to the government, the Internal Revenue Service (IRS) may pursue the collection of those taxes.  One of the ways the IRS may do this is by issuing a tax levy. Tax levies are a severe issue that no one ever wants to face. Unfortunately, sometimes...