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Are tax filing deadlines looming over you? They do every year, and if you’ve ever faced a fine that could have been avoided, you know the frustration that comes with it. But fear not! By reading this blog and saving the important filing dates to your calendar, you can leave the IRS behind and stay… Read more »
Taxes can often feel confusing, especially when they come in different forms like excise tax and sales tax. Both are crucial revenue sources for governments, but they serve distinct purposes and are applied in unique ways. If you’re a business owner, understanding these differences is vital to remain compliant and make informed decisions. Excise taxes,… Read more »
The Communications Service Tax (CST) is a tax imposed on various communications services, including telephone, mobile, internet, and satellite. Introduced to generate revenue for governments, CST ensures that companies providing these services contribute a fair share to public finances. As technology and communication services have evolved, CST has adapted to cover a broad range of… Read more »
Taxes in California can take a big bite out of the profits you earn from your rental properties. Real estate investors are always looking for ways to reduce the tax impact on their income. While it’s unlikely to completely avoid paying taxes on rental income, with the right strategies and a solid understanding of California’s… Read more »
We have to hand it to the name givers. You might be wondering: Previously, we discussed phantom tax and now mud tax. Since when did taxes get muddy? Mud taxes are not what you see on a rainy day; they can impact you significantly, especially if you own a property. Mud tax is the primary… Read more »
Phantom tax often occurs in partnerships, investments, and real estate transactions. It refers to a taxable gross income the taxpayer has not received as cash. It typically occurs when taxable income is generated but not distributed to the taxpayer. For example, in a real estate investment trust (REIT), an entity generates income and reinvests in… Read more »
Have you been wondering how to pay property tax online? This easy-to-understand blog will help you know everything you must about property taxes. Table Of Contents What Is Property Tax? How To Calculate Property Tax? When Is Property Tax Due in California? How To Pay Property Tax Online? Where To Pay Property Tax by Credit… Read more »
If you love your job, at least part of the reason for your happiness at work might have something to do with fringe benefits you receive. According to the IRS, the fringe benefits as pay that an employer gives an employee for performing services. Fringe benefits are usually taxable unless the law particularly excludes… Read more »
With 2020 over, it means the tax season to account is round the corner. Just like 2020, this tax season promises to be full of unique considerations- due to the coronavirus pandemic. So it is essential to familiarize yourself with the latest updates to the IRS tax code and how it may affect you…. Read more »
Tax levies put your assets at risk. To remove them, you need to work with the IRS to pay your back taxes. A tax levy is a serious business if you owe back taxes. Here’s how a tax levy can affect you, and how you can remove the IRS levy. What Is An IRS Tax… Read more »
