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Tax cuts and Jobs Act Summary

by developer December 29, 2017

Know what's in it for you? The Tax Cuts and Jobs Act (H.R.1) was signed by President Trump on December 22, 2017. The most sweeping changes to the U.S. tax code in decades impact virtually every taxpayer. This historic bill calls for lowering the individual and corporate tax rates, repealing…

Tax Tips for the Sharing Economy

by developer June 9, 2017

With the advent of the Sharing Economy, many taxpayers have found a new stream of income with what is also known as the "on-demand," "gig," or "access economy." Websites or online platforms such as Airbnb, Uber, and Lyft are just a few examples of this new income source. Small business…

Self Employment Tax Tips

by developer May 23, 2017

Starting a small business and being self-employed can give individuals an opportunity to build wealth and a great way to save on taxes. However, this opportunity also comes with great responsibility; such as ensuring total compliance with the tax rules and regulations surrounding self employment. Self-employed individuals normally earn income…

Factors that Determine your Tax Rate

by SuperUser April 17, 2016

In the USA, this is the time to talk about taxes and the tools or vehicles to manage them. By simply doing certain things, such as contributing to your retirement account, finding deductions, and choosing the right filing status to file under, will make a huge difference in your tax…

The Benefits of Estimated Tax Payments

by SuperUser March 29, 2016

Paying taxes after the due dates would have repercussions for the taxpayer because at the end, all of this ultimately adds penalties and/or interests to the tax bill. Paying estimated taxes is something that no one enjoys....Most self-employed individuals would rather do something else than trying to figure out how…

How to Manage your Business Expenses and Taxes

by SuperUser March 25, 2016

Being your own boss and running your own business can be overwhelming! There are hundreds of things that you need to get done throughout the day and everyone is looking up to you for directions. As a new business owner, you are more likely to wear many hats to get…

HSA Retirement Planning

by SuperUser March 23, 2016

Contributing to a health savings account or HSA before you retire can provide various benefits after you turn 65. These plans typically cover just qualified medical expenses, which can be reimbursed tax and penalty free. To determine how to maximize your distributions from your HSA, discuss your current retirement plans…

The Cost of Withdrawing Fixed Deposit Before Maturity

by SuperUser March 19, 2016

A fixed deposit is one of the investment vehicles used for investing money for a fixed time period. For this reason, if you want to cash out your fixed deposit before the time of its maturity, you should be prepared to pay the penalty for early withdrawal. This may not…