Tax planning is a very important aspect of Financial Planning and we have to approach it keeping in mind the bigger picture. There are various sections under the Income Tax Act which we can use to our advantage in order to save on our outgo of tax. A lot ofRead More →
A local accountant is a practical solution for the business that wants a professional to take on the responsibility for returns, year-end accounts, business tax, personal tax, VAT and PAYE. Paying for accountant can in the long-term help to save money, free up time for other responsibilities, and make sureRead More →
Taxpayers must file their tax return with care to avoid any error while filing income tax returns. However, sometimes in haste, they end up making mistakes like unclaimed deductions, income reported incorrectly or any incorrect contact details or the bank account is given for the refund of taxes. However, ifRead More →
Bonds are available in both taxable and tax-exempt formats and there are tax concepts to consider when a person is investing in bonds. Each type of bond, whether tax-exempt or not, has different tax aspects. Tax-exempt municipal bonds and taxable bonds are discussed, explaining how some of the tax rulesRead More →
Cryptocurrencies have been in the news recently because tax authorities believe they can be used to launder money and evade taxes. Even the Supreme Court appointed a Special Investigating Team on Black Money recommended that trading in such currency be discouraged. While China was reported to have banned some itsRead More →
An ITIN is a number used to access all the financial services under the US federal government. It is issued by the Internal Revenue Service as a form of identification to the nonresident alien individuals or for familial status of fiscal residents who do not have the authorization to work,Read More →
Should I hire a CPA for my firm? That’s a common question of many entrepreneurs and small business owners. Yes, you need a CPA for your firm, and in this post, we give you 11 good reasons why you should find a reliable service now. 1. Because the tax lawsRead More →
President Trump’s new tax plan looks a lot like Governor Brownback’s tax plan for Kansas, which had been disastrous for the state’s economy. Rational Republicans should realize that if an experiment fails, and fails miserably, there is no point in repeating it. That is particularly true when the economy ofRead More →
Until now, corporate social responsibility (CSR) has come to be one of the accepted business norms of our time. It’s regarded as business practices involving initiatives that benefit society. The European Commission not long ago defined CSR as “the responsibility of enterprises for their impacts on society”, a succinct andRead More →
Every business needs a CPA. Period. More often than not, startup founders and small business entrepreneurs look for ways to save money, and in the process, they end up hiring the wrong accounting firm. In this post, we give you a list of do’s and don’ts that you must followRead More →