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
Many taxpayers would ask this question about what is FICA, and why we are paying our money to it; rather, many individuals are still confused about paying their share of contributions and taxes to date. FICA stands for Federal Insurance Contributions Act, it includes both the employer and the employee
