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How to Calculate Taxes for Your Small Business

One of the most time consuming and complicated parts of running a business is having to calculate taxes. It would be best to make tax planning a year round activity. This will help deal with tax planning and filing in a more systematic manner. The first step to...

Foreign Bank Accounts Requirement

If you work or live abroad then you are likely to have a foreign bank account as well. Many taxpayers are unaware of the fact that they need to make a disclosure of such financial interests or assets held abroad. Along with reporting one’s income and deductions or tax...
Earning Income Without Withholding in 2018

Earning Income Without Withholding in 2018

Withholding tax is a worldwide phenomenon. Tax is deducted or withheld at source on the income earned by a person and acts as a tax credit when paying income tax for the year. In general the withholding tax is applicable to employment income. However if you are...
Six Tax-Saving Tips for 2018

Six Tax-Saving Tips for 2018

Tax planning is not one of the most interesting things in life; however, it is necessary because it saves you money. You only fill your tax returns once per year but trimming your tax bill is a thing you can start doing right away. I am sure you have managed to claim...
Tax Advice for Bitcoin and Other Cryptocurrencies

Tax Advice for Bitcoin and Other Cryptocurrencies

As you probably already know, virtual money is considered real property by the IRS. So, if you are one of those adventurous people who “mine” virtual currencies, you should understand that the Internal Revenue Service requires reporting of profits and losses. It gets...