They are usually an involuntary fee which is levied corporations or individuals which are enforced via the government entity, whether regional, local or national in order to the finance government activities. In the economy taxes does falls on whomsoever pays the burden of the tax, it could be either entity which is being taxed, or the end consumers of the business goods. They are levied by the states upon their corporations and citizens to fund services of public and works. Payment of the taxes are compulsory and tax evasions, if the taxes are not paid on time, they are punishable by the law. The payment of taxes could also be done online with easy steps. Some of the common kind of taxes are- GST, Property Tax, Income Tax, tariff, excise duty, Stamp duty etc.
However, the taxes do vary according to the nations. Besides conventional taxes, there are other taxes which have been introduced recently as- Swatch Bharat Cess Tax, Infrastructural cess tax and Kalyan Cess Tax etc. Read here tax planning related articles & news and plan your tax savings investment.
IRS Fresh Start Program Application
A recent report from the IRS shows that ultra-rich people don’t pay their exact share of taxes. Therefore, the shoulders of the middle class and upper class bear most of the tax burden. On average, […]
Things to Know When Tax Season is Upon You!
Whether or not you like any seasonal cycle, such as winter, summer, fall, or spring, you must live through each of them. Likewise, no matter how much you detest filing taxes, you cannot avoid it. […]
Top 10 Online GST Certification Course in India
Online GST certification course is one of the most demanded courses in today’s world. Since the introduction of the GST, every professional has been searching for GST certification course online free. The best GST certification […]
A Complete Guide to Federal Solar Energy Tax Breaks
One of the big reasons that many people make the switch to solar energy is the availability of tax credits and incentives. If you have decided to make the switch for this reason, you want […]
7 Smart Ways To Save Tax Without Making Any Investment
Every year, while filing the income tax return, you need to look for ways to save on taxes. Saving tax is one of the smartest financial moves you can make. Because not only do you […]
5 Penalties for a Tax Preparer’s Negligence
Tax Penalties As a resident of the United States of America, you have to file for the taxes as per the law. You may choose to do your taxes yourself, or you may hire an […]
A Quick Guide to Understanding OASDI Tax
What is OASDI Tax? If you’re old, a survivor from a calamity, or disabled, you’re probably thinking of the possible ways how you can make a living. But you don’t have to worry about it. […]
How Term Insurance Can Help you Save Taxes?
Introduction You are in your growing thirties, enjoying yourself with your family and having a balanced life. But, one fine day, you find that you have blood cancer. How hard would it hit you thinking […]
What is the Inheritance Tax Threshold?
The Inheritance Tax Threshold is the minimum amount of money that can be left without an inheritance tax being imposed on it. This article takes a look at the different inheritance taxes and the people […]
Best Tax Software for Small Business in 2021
Running a small business means wearing too many hats as there are many things that you need to take care of and there is no way you can show aversion to any one aspect of […]
Does Investing in Mutual Funds Help in Tax Saving?
Tax saving is an important part of an individual’s financial planning. If you wisely plan your taxes, you can end up saving a good amount of money from your hard-earned annual income. In this article, […]
Things You Should Know to Negotiate a Favorable IRS Tax Settlement
IRS Tax Settlement There are times when you owe big time with taxes so in that case what are the possible consequences to be done. You must be under pressure as you think that there […]
What are the Tax Benefits of Buying a Home?
Home Loan Tax Benefits Making a purchase of anything comes with some attached taxes. If you are buying a home, this applies too. Yet, you can gain some tax benefits that allow you to save […]
Eight Crazy Tax Scandals that Cost Billions
Global Tax Evasion Over the past few years, more and more tax evasion scandals have surfaced in the news. That’s no coincidence, as a whopping $600 billion is lost to tax avoidance every single year. And […]
How to Check Your Income Tax Refund Status in 2021?
Income Tax Refund Status The income tax return for the F.Y 2019-20 has already been filed for many, however for some taxpayers the process of return filling has not finished yet. This article contains detailed […]