Category: Tax

No one likes paying taxes, including small business owners. While it’s impossible to completely avoid tax liabilities, there are legal ways of mitigating them and keeping costs as low as possible. Utilizing strategic timing can save your business money on taxes. Here are year-end tax planning strategies that could significantly lower its taxes. Defer Income […]

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Small business tax credits can have a powerful impact on your bottom line. They cut the amount of tax you pay, dollar for dollar. Credits are different from deductions. They decrease your taxable income and can potentially put you in a lower tax bracket. Each credit requires its own specific form. These forms are then […]

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For foreign nationals, the United States Department of State provides a Diplomatic Tax Exemption Card, which is good for an exemption from sales taxes or similar imposed taxes on purchases within the United States. This card is also useful for hotel stays and restaurant meals. The diplomatic tax exemption card can be obtained from the […]

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The question is: what is the difference between tax arbitrage and legal profit shifting strategies? The difference is as fundamental as the question itself. Both involve international taxation, but their methods are different. Tax arbitrage strategies are the use of different structures to avoid taxes in one jurisdiction and to generate profits in another. The […]

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There are several methods of determining whether you need to pay tax on your share trading activity. Some taxpayers treat their gains on share trading activities as business income while others view such transactions as capital gains. There is a bit of controversy regarding the taxation of share trading. However, if you are trading in […]

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The first step in paying your car tax online is to apply for a new log book if you haven’t done so yet. Using a credit or debit card or Direct Debit, you can pay for your car tax every month or year, depending on your circumstances. You can pay in full online or set […]

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A tax is a form of a charge levied by a government on a person, business, income, or sale. The amount of the tax is usually proportional to the value of the money involved. This demand on resources causes the prices of goods and services to increase. While there are different methods of collecting taxes, […]

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What is tax? Tax is a mandatory annual financial burden or any kind of levy imposed upon a taxpayer by the federal government in order to finance various public expenses and government spending. A person who is charged with tax evasion or any other crime involving tax, is termed as a tax evader. Evasion of […]

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A tax is an unlawful financial burden or any kind of levy imposed upon a taxpayer by a government agency in order to finance various public expenditure and government spending. Failure to comply, and/or evasion of or refusal to pay taxes, are punishable by criminal law. The word “tax” comes from the Greek word thus […]

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A tax is any mandatory annual financial payment or any sort of tax levied on an individual by a governmental agency in order to fund various public expenditures and government spending. Failure to pay, or evasion of or obstruction of tax, is legally punishable by law. In the United States, tax laws are generally based […]

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