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...
Taxes may feel like a heavy burden, but they're an integral part of any functioning economy. Each year, you're likely to fork out some cash to Uncle Sam. But there's good news. A plethora of tax deductions can significantly lessen your tax bill.
In this article, you'll learn the key...
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...
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...
On May 11, 2018, the Financial Crimes Enforcement Network implemented a rule with the intention of fighting against illegal financial activities committed by many businesses. Some of these crimes include fraud, tax evasion and money laundering. This new rule is known as the beneficial ownership rule, and...
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...
While advances in technology have reduced the likelihood of making errors when filing your cryptocurrency taxes, there’s still the possibility that you’ll make a mistake. But this is expected as the filing of cryptocurrency taxes is often a hectic and cumbersome process. This happens because the filing of cryptocurrency...
If you are a resident in California or plan to move there, then you are probably familiar with the sky-high vehicle registration fee over there. Registration fee is a lot for new residents and people who have been living in California for years alike.
Now the question is, why 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 or hire an outsourced accountant to assist.
Once you learn...
When you own a home, property taxes are considered an unavoidable expense. Most of the time, people find it challenging to pay their property tax even when there is no economic crisis or a major health issue at play. However, since COVID-19 entered the scene, many homeowners...