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...

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...

The Tax Cut and Jobs Act were passed by Congress and signed by President Trump last week. Essentially, it lowered individual tax rates, especially for wealthier taxpayers, and made a major cut in the corporate tax rate. The changes will apply to the 2018 tax year....

Owning your own construction business provides the opportunity for numerous deductions, but you also need to make sure you don’t become a target of the IRS. In order to prevent that from happening to your business, it is vital to keep good records of your business...

Tax season is just around the corner and we want you to keep more of your hard-earned money in your pocket. Here are our 10 most ignored tax deductions. If a deduction is legitimate and you have the documentation to prove it, take it.   State sales taxes IRS has...

Here's our list of the top 4 things that taxpayers are unreasonably fearful of and shouldn't be: Claiming on too many tax deductions. Claim them if you deserve them, and keep more money in your pocket. You're entitled to take tax deductions. If a tax deduction is...

Some old and overdue accounts, or those which cannot be collected because of lack of resources, that the IRS has stopped actively working on, can still be pursued by assigning them to Private Collection Agencies. Private Collection Agencies are private sector...

Though the Internal Revenue Service is one of the largest arms of the U.S. federal government, its operations are conducted much like a very large business. Except in rare cases, there are time limits regarding tax collections. The reasons these time limits exist...