One of the central planks of Donald Trump’s economic policy was his intention to slash the US corporate tax rate from 35pc to 15pc, which could hamper the attractiveness of Ireland’s low corporate…
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Owning a small business is challenging on so many levels, but taxes seem to be a big stressor on the minds of most creatives. While talking taxes is never glamorous, getting to know the basics of tax can save you time and money down the road. Here is a small list of the things you should consider wh
Failure to properly pay your payroll taxes could mean fines or even jail. This infographic can show you how to do your payroll taxes in the right way.
As a good entrepreneur, you must obey paying taxes either online with the help of the tax application feature or in other ways. To ease the payment of
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Understanding how to start a new creative business can be a daunting task, especially if you don’t have a background in accounting or business. We have so many questions when we first set up shop – what do I need to take care of on the legal side of things? How do I file my taxes now? What […]
Learn what is an S Corp “Reasonable Salary”, get S Corp salary examples and know the tax benefits of running an S Corp. Calculate a reasonable salary for yourself.
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Financial service providers often fail to build and execute dynamic content marketing programs. But here are three examples of how it can be done successfully.
Self-employment tax tips for when you're starting a business, freelancing, or side-hustling for smart finances & money management for business owners.
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When exactly can you apply tax write-offs? If you're still unsure and want to get the full advantage of this itemized deduction, read on and find out!
The deadline to file Income Tax Return or ITR has ended on July 31st. Now it's time to focus on filing revised returns. The revised returns...
U.S. taxpayers have enjoyed specific tax benefits for home ownership since personal income tax was introduced by the 16th amendment in 1913. While these benefits may not be the primary reason that motivates a person to buy a home, they are still tangible and not available to tenants. The exclusion of capital gains tax on the profit made from a home is unique from other investments and provides homeowners significant savings. Single taxpayers can exclude up to $250,000 gain and married taxpayers up to $500,000 gain. During the five-year period ending on the date of sale, a taxpayer must have: owned the home for at least two years; lived in the home as their main home for at least two years; and, ownership and use do not have to be continuous nor occur at the same time. Gain on the sale of a principal residence in excess of the allowed exclusion are taxed at the lower long-term capital gain rate of the owner. A homeowner may take the standard deduction or itemized deductions in any tax year based on which will create the largest deduction. Property taxes and qualified mortgage interest are allowable itemized deductions. Qualified mortgage interest is acquisition debt plus home equity debt not to exceed the maximum amounts. Acquisition debt is the amount of debt incurred to buy, build or improve a first and second home up to $1,000,000. Home equity debt is limited to $100,000 over the current acquisition debt on the combination of a first and second home and may be used for any purpose. For more information, see your tax advisor or see IRS Publications 523, Selling Your Home and 936, Home Mortgage Interest Deduction.
Learn what is an S Corp “Reasonable Salary”, get S Corp salary examples and know the tax benefits of running an S Corp. Calculate a reasonable salary for yourself.
Dealflow: Follow the Money Enterprise’s first opportunity fund targets Main Street entrepreneurship in U.S. Southeast. ImpactAlpha yesterday outlined the small-business opportunity in opportunity ...
Have you ever wondered how to use a nanny tax calculator? Get to know this very useful tool that can help you on how to pay nanny tax.
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