Tax season isn’t everyone’s favorite time of the year, but don’t let a new reform overwhelm you. President Trump’s Tax Reform Act was passed on December 22nd, 2017. The Act is designed to cut income tax rates, it doubles the Standard Deduction, and eliminates many personal exemptions. The individual changes became effective January 1st, 2018, […]
What to Do When You Can’t Afford Your Taxes
Tax season can be harrowing, especially for those that find they owe the IRS money. If you can’t tackle your tax bill in its entirety this tax season, don’t give up. There are options, but they take strategic planning and a bit of elbow grease. Let’s get started. File Your Tax Return Anyway Tax deadlines […]
Five Tax Rules Every FD Investor Should Know
A lot of Indians see bank deposits as a good investment option. Fixed deposits (FDs) are the type of financial services which are considered as old and safe to save some funds by many. Fixed deposits are a risk-free way to save some money in case of emergencies. As the name suggests, a preset amount […]
Trump Needs a Tax Cut to Keep U.S. Equities Rolling
U.S. equity prices have climb to all-time highs rising approximately 15% since Donald Trump was elected the 45th President of the United States. Current trading activity has also seen the dollar gain ground. Stock prices have been buoyed as the markets have priced in additional growth prospects and rising corporate earnings due to tax cuts […]
Trump Plans to Repeal Estate Tax, California Senator Prepares State Alternative Measure
President Donald Trump threatened to repeal the federal estate tax during his campaign. The President and Congress promise to make good on their campaign promises and repeal the estate tax that would hit many of Trump’s cabinet members hard. California Senator Scott Wiener has another plan to offset the tax revenue lost if the repeal […]
New Mexico, Arkansas Propose Internet Sales Tax Bills
Legislators in New Mexico and Arkansas have proposed bills that would allow the states to collect sales tax on internet sales. The bills would help the states recover millions in tax revenue. The Internet sales tax bill, House Bill 202, received bipartisan support in New Mexico, which would require the collection of gross receipts tax […]
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