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...
It would be best to make sense of IRA rules regarding how much tax to withhold from ira withdrawal. The IRS typically requires that you withhold at least 10% of your contributions from your traditional IRA withdrawal. You need to consider the age-related requirement as regards the amount of...
When corporations make plans to evade taxes, they rarely consider the impact that tax evasion has on both developed and developing nations. According to the Tax Justice Network, there is an estimate of between $21-$32 trillion that is associated with private wealth held offshore. The annual...
Tax evasion is illegal. U.S. citizens can go to jail and also be charged with substantial penalties for this crime. That's why it is so important to understand what constitutes tax evasion. If you aren't comfortable filing your own tax return then it makes sense to hire...
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...
FATCA or the Foreign Account Tax Compliance Act is a tax law requiring United States citizens both abroad and within the country to file yearly reports regarding any foreign account holdings. The intention of this act is the promotion of transparency in the international financial services sector...
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...
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...
The nation of Switzerland has always been one of the prized goals for many of the world's leading tax evasion lawyers and investigators. In 2009, the largest bank in Switzerland, UBS AG entered into an agreement with the U.S. tax agencies that would allow it to pay...