It is a legitimate tax deduction if you make a vehicle purchase for your business. But the meaning of business travel does not mean a generous trip as few business owners would imagine. For example, you cannot claim your expense while you are having leisure time with your company logo
Many individuals use debit cards as the ultimate means for automatic payments. This is because it is a relatively hands-off and straightforward method to pay your bills on time without having to add to a credit card balance. But what happens if you decide to cancel your debit card? A
In recent times, late payment taxes are being handled and are monitored through Internal Revenue Services (IRS). One has to act proactively and negotiate a payment plan in case there are late tax payments and one is unable to timely carry out their taxation or the tax falls out of their
Form 6251 is an Internal Revenue Service (IRS) tax form that helps determine the alternative minimum tax (AMT) amount that a taxpayer owes. It is the additional tax that one has to pay along with regular tax. As per the instructions of Form 6251, taxpayers who have high incomes can
We assume that our information is safe, and we can never fall victim to credit card fraud. But it is a fact that anyone can fall victim to credit card theft, even when your card is in your pocket. Unluckily, it can be a nerve-racking incident that can pose you
Being an owner of a small business has its own set of advantages, right? You are the boss, can set flexible working hours, can take decisions without any influence. It’s a one-man show. But there are few disadvantages of owning a business for yourself. Yah! That’s correct, determining the right taxes
At the start, we all plan to manage our expenses wisely and never go over the budget; somehow, everything changes till the end of the month and you can even get an overdrawn bank account. How’s that? You spend more than expected and ruin your plan. We all make such
While you are filing for a tax return, you might want to ensure it is as precise and complete as possible to prevent Internal Revenue Service’s penalties and audits. If the data you report on your tax return fails to match your bank records, you should be concerned; unintentionally or intentionally,
Daily, hundreds and thousands of workers switch their jobs from one organization to the next. Throughout this process, the one thing that must be taken care of at all costs is an employee’s 401k cash-out plan. There are few options for the employee regarding it, including either cashing out the
If you are managing your finances with another person—a partner or spouse—a joint bank account would make your life so much easier. This account works pretty much like a regular savings account, the only difference being that you share control of it with another person. You get two debit cards
