I don’t need to tell you how important getting your tax returns filled out and sent off is — if we fail to do so, we could be in some big trouble with the taxman! In fact, it’s such a nerve-racking area of life, it can cause anxiety even after you’ve completed and submitted your…
Category: Taxes
How To Reduce Capital Gains Tax
You might be looking to invest in something like stocks or property, and you could be weighing up the risks and rewards, such as the volatility of the market or making a regular income. If you add this to the capital gains tax, you’ll have to pay if you sell your home or make a…
Do Independent Contractors Pay Taxes?
You might have heard this type of worker being called freelancers or gig workers, but their purpose within the business is relatively the same. You might be this type of worker and are unsure of your tax obligations or unsure how to classify your expenses regarding your taxes, as you may generally have to calculate…
Can A Dependent File Taxes?
What Is A Dependent? In tax terms, a dependent is a person who is reliant upon another person as means of supporting themselves financially. A good example of a financial dependent would be a child, who relies on the financial support of a guardian. A person who has a dependent living off of their financial…
Do Federal And State Taxes Come Separately?
Filing taxes might be a yearly occurrence, but it can still be a little confusing. If you’re waiting for a refund from both your federal and state taxes, you might wonder why only one has turned up. Don’t worry, there probably isn’t an issue with your refund. State and federal taxes are processed by two…
Do Beneficiaries Pay Tax On Pension?
A person is seen as a very long term investment, and everyone wants to make sure that they put away as much money as possible. Your pension can go up or down over time, due to changes in laws and tax rules in the future. Not only does a pension help you support yourself during…
Do Babysitters Pay Taxes?
Babysitting is a job that is likely not to be the first that comes to mind when you think about paying taxes due to the fact that, in most cases, it is a low-wage and/or temporary position. However, there are some situations wherein you will need to pay taxes as a babysitter. With this…
How To Reduce Taxable Income
If you want to reduce the amount of tax that you pay each year, the most obvious way to do so is to reduce your taxable income. And if you want to learn just how to do so, you’ve certainly come to the right place. In this article, we’re going to cover a number of…
Do Businesses Get Tax Refunds?
No one enjoys paying taxes. For most of us, the hope of a tax refund is the one silver lining to the whole process. Tax refunds are common for individuals, but are they applicable to businesses? Understanding Your Business Entity Type Different business entities pay their taxes in different ways. Before we talk about all…
Do Renters Pay Property Tax?
If you’re renting or thinking of moving into a rented property, there are many things you have to account for like water, electricity, new furniture, and cable bills, it doesn’t end! On top of that, you may have heard of property tax and are wondering if you have to pay another bill on top of…
