taxes Tag

There are plenty of reasons you may need a tax extension this year which, in general, the government will accept unless there’s an extraordinary circumstance. However, there are a few important things to keep in mind if you’re going to take that route. After weighing some of the pros and cons, there are things you need to know should you choose to file for a tax extension this...

Starting a business is a great idea in so many ways.  Giving yourself the freedom to work whenever and wherever you want is priceless (figuratively speaking).  Especially in the beginning, it essential to give yourself and your business the best chance to survive financially.  An important piece of the puzzle?  Tax breaks.  There are tons of deductions and subtractions which were created...

You may not have heard of Fan Bingbing, but she is China’s most famous actress.  She has also appeared in American films such as “X-Men: Days of Future Past” and “Air Strike”.  This worldwide celebrity is the latest to get caught “cooking the books”.  Income Tax in China China’s current tax bracket breakdown can be seen below: Monthly taxable income (CNY*) (1) Net income (2) Tax rate (%)...

One of the biggest issues of the most recent Presidential election was the release of Donald Trump’s tax returns. Not that long ago some of that data was released, and the debate on whether it was done voluntarily or was leaked continues. Another point of contention surrounding President Trump’s tax returns is the information contained in those returns. By and large most Americans are still...

This time of year a lot of workers’ thoughts turn to whether they will get a tax refund, or have to pay in a bit more to Uncle Sam. For those of you that do get a refund, it can be a real boost to your finances, allowing you to put some money aside for a rainy day or to pay off existing debt. But if your debt load is such that it cannot be eliminated with a tax refund, you might be thinking...

When you are having a hard time making ends meet, it is important to find a solution quickly. If bankruptcy is on your list of things to consider, you might be wondering if there is any special timing that you should follow when you file your case. Or, if you are going through a divorce and need to get some financial relief, you may question whether the timing of your divorce should be close...

Filing taxes is just about one of the least enjoyable parts of every new year. From the minute you start getting your W2’s in the mail, to the moment you put together all of your documents so tax preparation can begin, the thought of having to fork over a chunk of your money to Uncle Sam hangs out in the back of your mind. And, if you are low on funds, the idea that you have worked all year...

Filing taxes is just about as fun as having a root canal. Unfortunately, every April 15 the IRS expects a return to be filed by every working citizen, and if a payment is due the IRS will expect to receive that by April 15 also. If you are fortunate enough to be owed a refund, it probably doesn’t matter to you when you file your return and in fact you may want to file it as soon as you have...

It has been said that the only certainties in life are death and taxes. While death can’t be avoided, there are circumstances where certain taxes can be, or at least the amount of tax owed minimized. A frequently asked question about filing bankruptcy is how your tax status is impacted, or whether you can get out of paying taxes by seeking the protection of bankruptcy. These are good...

Having any kind of debt can be overwhelming, especially if you are unable to make the payments. But one type of debt that seems to be more difficult to handle than others is taxes. Perhaps it is because American workers are fed up with the tax system, and the idea of paying a large chunk of what you work so hard to make to the government leaves a bitter taste in your mouth. After all, you...