Many Americans choose to leave the US to work or live abroad. It’s an exciting experience that can lead to a lot of opportunities. Through all of the excitement and emotion of moving to a new country, many Americans fail to consider how moving abroad will impact their taxes. That’s where we come in! If […]
Every year towards the end of the year you hear about wealthy individuals making extremely generous contributions to charitable foundations. While these donations certainly help the foundations receiving the money, they also benefit the individual donating the funds. You are able to claim charitable donations as a tax deduction when filing your taxes. However, it […]
Cryptocurrency has gained a huge amount of traction over the past couple of years. Due to the volatility of these cryptocurrencies investors are constantly trying to buy low and sell high. However, they rarely pause to think how all these sales and purchases will affect them come tax time. Despite cryptocurrency lacking government oversight, it […]
If you have recently started a side-gig or even branched out on your own to become self-employed you may be wondering, how does the IRS tax the money I’m earning? If you work for a company you typically receive a W-2 and the company will automatically deduct payments from your paycheck for tax. However, if […]
The obvious reason why you should strive to avoid the failure to file penalty is because it costs you money, and nobody wants to pay for something that could have been avoided! The failure to file penalty is charged if you file after the due date (usually April 15th for individuals), owe taxes and don’t […]
Your net worth is the amount by which your assets exceed your liabilities. Simply put, the difference between what you own and what you owe is your net worth. If your assets exceed your liabilities, you have a positive net worth. On the contrary, if your liabilities are greater than your assets, it would be a negative net worth. Your net worth provides […]
Tax deadline for filing and payments, moved to July 15, 2020. People needing more time can still obtain an extension to file for even more time. As the COVID-19 epidemic continues to shake the very foundation of life as we know it, people and governments across the globe continue to consider the effects of this […]
Individual & non-corporate filers can defer federal income tax by 90 days, up to July 15,2020 The April 15th deadline to submit tax returns has not changed, unless you request an extension. If you are anything like us, we have been watching the news very carefully trying to follow along with the information regarding the […]
How to file Federal tax extension after deadline The excruciating amount of time and energy spent during filing taxes is one of the key reasons many do not file taxes on time. Most people have failed to meet the deadline to file in 2018 because they were either too engrossed with other work or they […]
Many find it difficult to submit their taxes to the IRS while the due date fast approching. Fortunately, you can get the assistance of tax preparers to get your taxes filed on time. You can even work with tax preparers to submit your taxes past the April deadline with an IRS tax extension. Whichever way […]
