Financial prosperity is crucial in securing a glorious future. The lack of adequate resources has turned many vision and dreams and aspirations into mirage. Money is a necessity for meaningful and fruitful life. However, in spite of the desire and pursuit of money, most people still languish in poverty after years of hardworking and commitment.
Most sympathetic is the case of many who have experienced financial boom and comfort in the course of their lives only to become dependants, living in regret and penury at the latter stage of their lives, craving for wealth has brought great havoc to some, while ignorancy has capivated others into penury. Read more
Most people are surprised to learn they have a tax bill after having their taxes prepared. There’s nothing worse than paying taxes all year, only to find out you still have more to pay.
However, if you’re careful about your tax planning, it is possible to reduce an impending tax liability and make sure you’re more likely to receive a return rather than a bill.
The most effective tax planning measures are based on timing. Read more
As a small business or self employed tax filer, your chances of being audited are somewhat higher than someone merely filing a few W-2s. Part of the reason is that the IRS applies greater scrutiny to certain subsets of tax filers who may be more prone to tax fraud. But it also happens simply because filing taxes for a business is much more complex and there are more opportunities to make a mistake or trigger a red flag. Read more
Tax Return Extensions are one of the most abused and misunderstood concepts within the tax code. Today, I will dispel two of the biggest myths surrounding extensions. Have any other questions about extensions that are not covered in this article? Post your questions to the comments section and I will be sure to answer them!
Extensions Do Not Grant You Additional Time to Pay Your Tax
1) Tax Return Extensions only grant you additional time to file your tax return, they do not give you additional time to pay your taxes. Read more